The Europe elevator and escalator market size by new installations was estimated at 151.9 thousand units in 2022 and is expected to reach 210.2 thousand units by 2029, growing at a CAGR of 4.75% during the forecast period. Increasing government investment in public and private infrastructure and energy-efficient housing renovation projects supported by EU funding will drive the demand for vertical transportation equipment. Further, To move the market towards energy-efficient lifts, the European Lift Association (ELA) is also working to help policymakers establish an appropriate framework to support the ecological transition of the lift industry. ELA is lobbying the EC to include lifts, escalators, and moving walks within the Energy Performance of Buildings Directive (EPBD) to make a measurable contribution towards the EU’s ambitious goals.
The Europe elevator market by the installed base is expected to reach 7,525.4 thousand units by 2029. Migration and rising demand for vertical cities paved the way for the elevator and escalator industry development, which is also related to the evolution of the construction sector. Further, The Europe region is at the forefront of decarbonizing building, driven by advanced building norms, stimulus programs, and customer demand.
Aging building stock in the EU and a rising service market ensure significant prospects for the Europe elevator and escalator market.
- About 63% of Germany’s present building was constructed before 1979, and all these buildings might require upgradation or remodeling. Since most of them are older buildings, elevators are not installed in most of the buildings. Such factors will create an opportunity for the vertical transport industry and contribute to the Europe elevator and escalator market.
- Installing a Microlift, also commonly known as a dumbwaiter or a kitchen lift, can make even the smallest team super-efficient, especially for food orders that need to stay warm and be delivered quickly. Staff shortages and the need to balance have created the demand for microlifts in the U.K.
- The USD 220.3 million loans will support KONE’s research and development for more energy-efficient elevators, escalators, auto walks, automatic doors, intelligent technologies, and solutions for people flow. The project will increase the European Union industry’s technology leadership and competitiveness. The USD 220.3 million loans signed today between the EIB and Finland Based KONE Corporation will support research and development in innovation. This will improve the safety and functional performance of KONE’s product range while at the same time reducing the carbon footprint of KONE’s solutions by improving the energy efficiency of the products and services and, consequently, of the buildings where they will be used.
- In cooperation with ELA, the European Telecommunications Standards Institute (ETSI) has developed a smart lift IoT system standard coupled to the one Machine-to-Machine (M2M)platform. Still, the drawback is that this platform is currently not commonly compatible with popular BMS interfaces and does not yet address the variety of lift functionality. To overcome these drawbacks, telecom experts must become more aware of the requirements of the lift and escalator world, in the same way, that the lift experts must become more aware of modern telecom and interoperability methodologies.
- Within the EU, 42% of non-residential buildings and 38% of residential buildings were built pre-1970, before the widespread adoption of energy efficiency measures. The age of the EU-built stock suggests that a significant level of renovation will be required to reach agreed energy efficiency targets. Approximately 12% of the EU residential built stock has been renovated to meet climate change targets, while 9% of the non-residential stock has been renovated. The data indicates a significant opportunity exists for energy efficiency retrofits to residential and non-residential buildings throughout the EU. It is expected to further support the Europe elevator and escalator market during the forecast period.
- Adoption of BIM methods in Public buildings has been mandated in the United Kingdom and the Netherlands According to the European directive 2014/24/EU. The UK government is intensely supportive of BIM technologies.
Residential and Affordable Housing Construction in EU to Hike Elevator Demand
Germany’s residential program aims to complete the extensive renovation of 40,000 homes by 2026, as stated in its 2021–2026 National Recovery and Resilience Plan (NRRP).
The National Recovery and Resilience Plan (NRRP) of Greece, which aims to use funds totaling USD 31 billion in grants and loans, includes investment projects for urban regeneration and restoration programs to improve the energy efficiency of residential structures. Further, around USD 21.5 million were provided by the European Investment Bank (EIB), as of September 2020, for the rehabilitation and building of 250 social and affordable housing units in Szczecin, Poland. The primary goal was to contribute to an urban regeneration and energy-efficiency program for a historic city.
Airport Expansion And Major Railway Projects in Pipeline to Boost Demand for Escalator New Installations in the Europe Elevator And Escalator Market
- In 2022, the German government planned to invest more in rail infrastructure than the road. USD 32.1 billion is being invested by Bremen, Hamburg, Mecklenburg-Western Pomerania, Lower Saxony & Schleswig-Holstein, and Deutsche Bahn(DB) in modernizing the rail network until 2030.
- The Heathrow Airport Expansion project, an investment of USD 36.6 billion, which is USD 17 billion for the third runway at Longford TW6, will be constructed by 2050.
- According to Europe's Rail Joint Undertaking's Amended Annual Work Program 2022–2024, eight new projects totaling USD 14.3 million will get funding under the 2022 Call for Proposals for rail research and innovation activities. The co-funding from Europe for rail might reach USD 12.8 million.
- Innsbruck Airport Redevelopment with an investment of USD 167 million comprises revamping the Innsbruck Airport in Tirol, Austria. Construction work commenced in 2021 and is estimated to complete by 2028.
- Accor had announced signing a collaboration pact with the prominent Georgian development company Archi to unveil the first Movenpick in Georgia on the black seacoast in 2028, comprising 120 rooms.
Elevators Over Their Average Life Expectancy to Create Demand for Maintenance and Upgradation of Components in Europe
- Two thousand seven hundred ninety organizations received a service adequacy certificate (HYB) from the Turkish Standards Institute for elevator repair and services in 2019. According to the “Industry Registry Law,” there are 335 component manufacturers and 2,749 elevator assembly and elevator component manufacturing businesses with industrial registration in Turkey.
- According to INE (National Institute of Statistics), 24.58% accounts for approximately 1 million people who have difficulty functioning due to disability in areas of the portal, stairs, elevators, patio, garage, etc., in a building in Spain. In particular, for disabled individuals, FEEDA (Federacion Empresarial Espanola De Ascensores) has increased awareness of the significance of accessibility and safety in elevators. Creating a virtual button panel that ensures complete accessibility in the lifting environment is the biggest accomplishment in terms of accessibility.
- As of 2019, according to François Bellot, Minister of Mobility, escalators and elevators in Belgium train stations break down about 2,000 times a year. As a result, the National Railway Company of Belgium SNCB (NMBS) pays USD 2.2 million a year to maintain broken escalators and elevators.
- Scale Mobili Italia (SMI) is focused on the maintenance and service of mobility equipment, including elevators, escalators, and moving walkways. With the introduction of training sessions and courses on escalator maintenance in 2018, technicians in elevator firms now have access to information on how to maintain, modernize, and replace aging escalators.
- The key players in the Europe elevator and escalator market are KONE, Otis, TK Elevator, Schindler, Hyundai Elevator, Mitsubishi Electric, Orona, and Hitachi.
- KONE is collaborating with Louvre Hotels Group, the second-largest hotel group in Europe and a subsidiary of Jin Jiang International, to equip the first smart hotel in Europe with the Smart Inside label in Lyon, France.
- In October 2022, TKE launched EOX, a new energy-saving and digital elevator platform. EOX features low-consumption belt traction technology, optimized energy-saving features such as an eco-mode that learns and adjusts to traffic patterns, and a regenerative drive that feeds energy back into the building. Its lighter weight contributes toward a lower carbon footprint, and less fuel required for transport to client sites will result in an over 10% reduction in CO2 emissions on average. In addition, it will require up to 28% less energy to move the elevator in the shaft. EOX is also manufactured at TK Elevator’s European factories that run on 100% renewable electricity and will have a Class A energy efficiency rating. A dashboard in the customer portal provides complete transparency about the elevator’s energy consumption and savings daily, monthly, and yearly.
- Otis, TKE, Schindler, and KONE are the top 4 major OEMs in the Europe elevator and escalator market, with a share of 54%.
- Otis invested USD 22 million in the San Sebastian factory dedicated to quality manufacturing and continued support of the skilled workforce in Spain.