INDONESIA ELEVATOR AND ESCALATOR MARKET WAS VALUED AT 6,422 UNITS IN 2021 AND IS EXPECTED TO REACH 9,041 UNITS BY 2028 GROWING AT A CAGR OF 5.01% DURING THE FORECAST PERIOD

Indonesia Elevator and Escalator Market Size (Volume) 

  • Installation Base
  • New Installation Type
  • Modernization (In Billion)
  • Maintenance (In Billion)

Indonesia Elevator Market Size (Volume) 

  • Installation Base
  • New Installation Type
  • Modernization & Maintenance (In Million)

Indonesia Escalator Market Size by Volume  

  • Installation Base
  • New Installation Type
  • Modernization & Maintenance (In Million)

Indonesia Elevator and Escalator Market Size, Share, & Trends Analysis Report by 

  • Machine Type: Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others 
  • Carriage Type: Passenger and Freight 
  • Capacity: 2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above 
  • End-User: Commercial, Residential, Industrial, and Others 

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2028

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105 Pages

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14 Tables

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65 Charts

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1 Regions

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1 Countries

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15 Companies

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4 Market Segment

INDONESIA ELEVATOR AND ESCALATOR MARKET REPORT SCOPE

Report Attribute Details
ELEVATORS & ESCALATORS MARKET SIZE BY NEW INSTALLED BASE 6422 TH UNITS (2021)
ELEVATORS & ESCALATORS MARKET SIZE BY NEW INSTALLATION 9041 TH UNITS (2028)
ELEVATORS & ESCALATORS MARKET SIZE BY INSTALLED BASE 66,346 TH UNITS (2028)
CAGR 5.01% (2022-2028)
ELEVATOR & ESCALATOR MARKET SIZE BY MORDERNIZATION USD 12.5 BILLION (2028)
HISTORIC YEAR 2019-2020
BASE YEAR 2021
FORECAST YEAR 2022-2028
MACHINE TYPE Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others
CARRAIGE TYPE Passenger and Freight
CAPACITY Person (2-15, 16-24, 25-33, and 34 and above)
END-USER Commercial, Residential, Industrial and Others

MARKET INSIGHTS

Indonesia's elevator and escalator market was valued at 6,422 units in 2021 and is expected to reach 9,041 units by 2028 growing at a CAGR of 5.01% during the forecast period. The growth is backed by the increased FDI spending in the construction sector and the construction of high-rise residential complexes to accommodate the country's rising population

KEY HIGHLIGHTS IN THE REPORT

  • In 2017, the Indonesian government launched the "100 Smart Cities Movement," a digitalization initiative. For 200 million Singapore dollars (USD 149 million), Mitsubishi Corp. will add an urban development project to its smart city initiative near Jakarta, picturing residential and commercial zones developed on six hectares around a railway station.
  • After China and Japan, Indonesia has the third-largest share of urban land in East Asia. Between 2000 and 2010, Indonesia's urban land rose by 1.1% every year, from around 8,900 square kilometers to 10,000 square kilometers. It is the largest increase in the absolute amount of urban land after China.
  • Due to increased urbanization and population expansion, the residential and public transit segments are the leading and second fastest expanding segments, respectively.
  • In Asia, Indonesia has the cheapest real estate. Jakarta's commercial area has a price per square meter that is 20% cheaper than Hanoi's and 55% less than Bangkok's.
  • The major skyscraper infrastructure project, Thamrin Nine Tower 1, will be the tallest skyscraper in Indonesia, standing at 333.5 m with 70 stories, leading to the demand for elevators and escalators in Indonesia.

Prominent Southeast Asia Elevator & Escalator Market

  • Due to the COVID-19 outbreak, Indonesia's economy will have contracted by 5.5% in 2020. The construction industry was estimated to have a significantly lower impact due to governments initiatives and the expected demand for residential buildings over the next few years. This will eventually translate into increasing new installations for elevators & escalators.
  • Indonesia is ranked the world's fifth-largest elderly population nation. In 2012, there were almost 21 million elderly persons. Life expectancy has risen considerably, from 45 years in 1970 to 69.2 years for men and 73.6 years for women in 2019, paving the way for massive growth in the elevator and escalator business.
  • As per the World Bank Group's 2020 Doing Business report, Indonesia was 73rd of 190 nations in 2020. Indonesia issues new regulations that make obtaining credit and starting a business simpler. This led to increased commercial construction to hike elevator and escalators demand.
  • Indonesia is amidst a historical shift from a rural to an urban economy. Cities in the nation are rising quicker than those in other Asian countries, at 4.1% each year. By 2025, Indonesia can expect to have 68% of its population living in cities. The country's continued urbanization and expansion of the commercial sector are anticipated to drive the industry's growth over the next five years.
  • Technology adoption, such as smart elevators connected to the internet, is becoming widespread. Elevator suppliers have already begun installing them in smart buildings.

The government's focus on tourism led to expanding transport infrastructure, thereby resulting in escalators demand

  • As Indonesia focuses on boosting foreign arrivals to support its economic growth objectives, the country plans to build several new airports, which will fuel the market for moving walkways, escalators, and elevators.
  • The government intends to increase tourist investment by establishing "Ten new Balis." This project is a government endeavor to build ten new tourist centres around Bali to simulate the economic impacts of tourism in Bali nationally.
  • In the last five years, the government has built new airports in Silangit (North Sumatera), Letung (Anambas), Tojo Una-Una (Central Sulawesi), and Maratua (Derawan), with plans to develop five more around the country (which will increase demand on the existing hubs at Jakarta, Surabaya, and Denpasar).
  • The construction of the Jakarta-Bandung Rail Project was proposed in 2015 with an estimated cost of USD 5.5 billion is under construction.
  • The Jakarta government has proposed a USD 1.7 billion Mass Rapid Transit project, which is expected to be finished by 2027. Over the forecast period, the infrastructure investments in the transportation sector (including high-speed rail, highways, and passenger airports) are expected to increase.

Increasing Government Investment in Key Sectors

  • The government prioritized economic growth in its medium-term development strategy for 2020-2024, with a projected budget of USD 430 billion.
  • Development of metropolitan regions for Palembang, Banjarmasin, Makassar, and Denpasar.
  • In 2020, the Indonesian government invested around Rp10,203.1 billion (USD 710 million) in hotel and restaurant projects. Thus, Infrastructural Development such as Cinema Halls, hotels, restaurants, shopping malls, Airports, and Departmental Stores drive the demand for elevators and escalators.

Increased New Installations

  • Increased inflow of foreign property investors as a result of looser foreign property ownership rules, which may create a market opportunity.
  • According to Colliers International, in 2017, the Chinese invested USD 169 million in Indonesia's property market. As a result, Indonesia is the third most popular Southeast Asian investment location for Chinese investors.
  • Indonesia's policy is to invest Rp93,282.8 billion (USD 6.53 billion) in Transportation, Warehouse, and Telecommunication in 2020. Investment of Rp8,857.6 billion (USD 620 million) in Metal, Except Machinery and Equipment Industry in 2020. Thus, increased government expenditure on the key end-users sector of elevators and escalators would propel the market.

Maintenance & Modernization

  • The demand for modernization is driven mainly by the new technological upgrades and implementation of this technology in elevators. In addition, modernization solutions help increase the lifespan of the equipment.
  • In Indonesia, many breakdowns happened on a Hitachi elevator at Monumen Nasional (Monas). This highlights the requirement of maintenance in elevators and escalators.

VENDOR LANDSCAPE

  • The key players in Indonesia Elevator & Escalator market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, Schindler, Fujitec, Kohler, and CANNY Elevator Co.
  • KONE, Otis, Mitsubishi Electric, and Hitachi are market leaders, accounting for nearly ~56% of overall in 2021.
  • Mitsubishi Corp will add an urban development project near Jakarta to its smart city initiative.

Frequently Asked Questions

HOW BIG IS THE INDONESIA ELEVATOR AND ESCALATOR MARKET?

Indonesia Elevator & Escalator market by new installations were 6,422 units in 2021, which is expected to reach 9,041 units by 2028 growing at a CAGR of 5.01% during the forecast period (2022-2028).

WHAT ARE THE GROWTH FACTORS DRIVING THE ELEVATOR MARKET IN INDONESIA?

Construction of new dwellings to drive the elevator market in Indonesia.

WHO ARE THE KEY COMPANIES IN THE INDONESIA ELEVATOR AND ESCALATOR MARKET?

Some of the key companies include KONE, Mitsubishi Electric, Hitachi, TK Elevator, Hyundai Elevator, Otis, and Fujitec.

IN INDONESIA, HOW MANY ELEVATORS AND ESCALATORS HAVE BEEN INSTALLED?

In 2021, around 8683 elevators and escalators were installed in Indonesia.

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Indonesia elevator and escalator market by new installations was 6,422 units in 2021, which is expected to reach 9,041 units by 2028 growing at a CAGR of 5.01%.

Due to increased FDI spending in the construction sector and the construction of high-rise residential complexes to accommodate the country's rising population, the elevator market in Indonesia is expected to grow faster than expected in 2021, with a medium year-on-year demand of 4.9% for the period 2023-2025. 

Base Year: 2021 

Forecast Year: 2022-2027 

The report considers the present scenario of the Indonesia elevator and escalator market and its market dynamics for the period 2018−2024. The study covers a detailed overview of various market growth enablers, restraints, and trends. It covers both the demand and supply aspects of the market. The study profiles and analyzes leading companies and several other prominent companies operating globally. 

Key Vendors 

  • KONE 
  • Mitsubishi Electric 
  • Hitachi 
  • TK Elevator 
  • Hyundai Elevator 
  • Otis 
  • Fujitec 
  • Schindler 
  • KÖHLER Elevator GmbH 
  • CANNY Elevator Co., Ltd 

Other Prominent Vendors 

  • Kunshan Hualong Elevator 
  • SJEC 
  • Suzhou Jiude Electrical & Mechanic Technology 
  • Shenyang Yuanda Intellectual Industry  
  • IFE Elevators  

Market Segmentation by Type 

  • Hydraulic and Pneumatic  
  • Machine Room Traction 
  • Machine Room Less Traction 
  • Others, Market Size and Forecast 

Market Segmentation by Carriage Type 

  • Passenger 
  • Freight 

Market Segmentation by Persons 

  • 2-15 Persons 
  • 16-24 Persons 
  • 25-33 Persons 
  • 34 Persons and Above 

Market Segmentation by End-Users 

  • Commercial 
  • Residential 
  • Industrial​ 
  • Others 

Section1 Introduction
• Market Scope

Market Snapshot of Elevators

Market Snapshot of Escalators
• Executive Summary
Section 2 Indonesia Elevators Market

Future Outlook: Indonesia Elevators Market, By Volume
Section 2.1 Indonesia Elevators Market, By Volume

Indonesia Elevators Market Size and Forecast, Volume (Units)

Section 2.1.1 Indonesia Elevators Market- By Segments

2.1.1.1. Indonesia Elevators Market, By Type

  • Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units), 2019–2028
  • Machine Room Traction, Market Size and Forecast, Volume (Units), 2019–2028
  • Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2019–2028
  • Others, Market Size and Forecast, Volume (Units), 2019–2028

2.1.1.2. Indonesia Elevators & Escalators Market by Carriage Type

  • Passenger, Market Size and Forecast, Volume (Units), 2019–2028
  • Freight, Market Size and Forecast, Volume (Units), 2019–2028

2.1.1.3. Indonesia Elevators Market by Persons

  • 2-15 Persons, Market Size and Forecast, Volume (Units), 2019–2028
  • 16-24 Persons, Market Size and Forecast, Volume (Units), 2019–2028
  • 25-33 Persons, Market Size and Forecast, Volume (Units), 2019–2028
  • 34 Persons and Above, Market Size and Forecast, Volume (Units), 2019–2028

2.1.1.4.Indonesia Elevators Market by End Users

  • Commercial, Market Size and Forecast, Volume (Units), 2019–2028​
  • Residential, Market Size and Forecast, Volume (Units), 2019–2028​
  • Industrial, Market Size and Forecast, Volume (Units), 2019–2028​
  • Others, Market Size and Forecast, Volume (Units), 2019–2028

Section 3 Indonesia Escalators Market

Future Outlook: Indonesia Escalators Market, By Volume

Section 3.1 Indonesia Escalators Market, By Volume

Indonesia Escalators Market Size and Forecast, Volume (Units), 2019–2028

Section 3.1.1 Indonesia Escalators Market- By Segments

3.1.1.1 Indonesia Escalator Market by Type

  • Parallel, Market Size and Forecast, Volume (Units), 2019–2028
  • Multi-Parallel, Market Size and Forecast, Volume (Units), 2019–2028
  • Walkway, Market Size and Forecast, Volume (Units), 2019–2028
  • Crisscross, Market Size and Forecast, Volume (Units), 2019–2028

3.1.1.2 Indonesia Escalator Market by End users

  • Commercial, Market Size and Forecast, Volume (Units), 2019–2028
  • Public Transit, Market Size and Forecast, Volume (Units), 2019–2028
  • Others, Market Size and Forecast, Volume (Units), 2019–2028

Section 4 Indonesia Elevators & Escalators Market, by Service (Maintenance & Modernization)

Section 5 Geographic Analysis

Section 6 Advantages, Policies, Export & Import

Section 7 Market Dynamics

Section 8 Technological Development
Section 9 Competitive Landscape

1. Major Vendors
2. Other Prominent vendors


Section 10 Report Summary
1. Key Insights

  1. List of Abbreviations

    Section 11 Appendix (Definition, Inclusions & Exclusions)
    1. Research Methodology
    2. Market Definition, Inclusion & Exclusion

LIST OF EXHIBITS

  1. Elevators & escalators, installed base 2021-2028 (units)
  2. Elevators & escalators, new installations 2021-2028 (units)
  3. Market share 2021, maintenance
  4. Market share 2021, modernization
  5. Total installed base, volume (units)
  6. Total new installations, volume (units)
  7. Elevator & Escalator Market Share by Geography, 2021
  8. Elevator & Escalator Market, 2021
  9. Maintenance market, regions, 2021
  10. Elevators installed base, volume (units)
  11. Elevators new installations, volume (units)
  12. Elevators, maintenance & modernization, value ($ billion)
  13. Elevators, maintenance & modernization, 2021 (%)
  14. Elevators - new installations, by machine, 2021 (%)
  15. Elevators - new installations, by capacity (persons), 2021 (%)
  16. Escalators installed base, volume (units)
  17. Escalators new installations, volume (units)
  18. Escalators, maintenance & modernization, value ($ billion)
  19. Escalators, maintenance & modernization, 2021 (%)
  20. Escalators - new installations, by type, 2021 (%)
  21. Escalators - new installations, by end users, 2021 (%)
  22. Elevators installed base and new installations (units)
  23. Elevators new installations (units)
  24. Average life expectancy of an elevator component
  25. Key focus area
  26. New installation by machine, 2021 vs 2028
  27. Hydraulic & pneumatic elevators, installed base and new installations (units)
  28. Machine room-less traction elevators, installed base and new installations (units)
  29. Machine room traction elevators, installed base and new installations (units)
  30. Other machine elevators, installed base and new installations (units)
  31. Carriage, new installation 2021 vs 2028
  32. Passenger elevators, installed base and new installations (units)
  33. Freight elevators, installed base and new installations (units)
  34. Capacity (persons), new installation 2021 vs 2028
  35. 2-15 persons elevators, installed base and new installations (units)
  36. 16-24 persons elevators, installed base and new installations (units)
  37. 25-33 persons elevators, installed base and new installations (units)
  38. 34 persons and above elevators, installed base and new installations (units)
  39. End user, new installation 2021 vs 2028
  40. Commercial elevators, installed base and new installations (units)
  41. Residential elevators, installed base and new installations (units)
  42. Industrial elevators, installed base and new installations (units)
  43. Other end-user elevators, installed base and new installations (units)
  44. Escalators, installed base and new installations (units)
  45. Escalators, new installations (units)
  46. By product, new installation 2021 vs 2028
  47. Parallel escalators, installed base and new installations (units)
  48. Multi parallel escalators, installed base and new installations (units)
  49. Moving walkways escalators, installed base and new installations (units)
  50. Crisscross escalators, installed base and new installations (units)
  51. By end user, new installation 2021 vs 2028
  52. Public transit escalators, installed base and new installations (units)
  53. Commercial escalators, installed base and new installations (units)
  54. Other end user escalators, installed base and new installations (units)
  55. Maintenance market by elevators & escalators ($ bn)
  56. Modernization market by elevators & escalators ($ bn)
  57. Modernization provides opportunities for upgrading buildings
  58. Key Economic Regions in Indonesia
  59. Infrastructure Budget by Government of Indonesia Value (IDR Trillion)
  60. Indonesia’s Urban Population 2016-2020 (million)
  61. Market share 2020 (% share)
  62. Kone, total sales by segment 2020 (% share)
  63. Mitsubishi electric, total sales by segment 2020 (% share)
  64. Hitachi, total sales by segment 2020 (% share)
  65. Schindler, total sales 2017-2020

LIST OF TABLES

  1. Cumulative infrastructure investment
  2. Number of Skyscraper in Indonesia
  3. Number of buildings completed in 2020 with a height of 200 m or greater
  4. By Machine, New Installations, Total Incremental Opportunity, 2021-2028
  5. By Carriage Type, New Installations, Total Incremental Opportunity, 2021-2028
  6. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2021-2028
  7. By End User, New Installations, Total Incremental Opportunity, 2021-2028
  8. Standard Commercial Lift Sizes
  9. By Product, New Installations, Total Incremental Opportunity, 2021-2028
  10. By End User, New Installations, Total Incremental Opportunity, 2021-2028
  11. Price Mechanism Foreign Ownership of Landed Houses and Apartments in Indonesia
  12. Investment Realization in Quarter IV 2020
  13. Investment Realization in 2020: Based on Sector
  14. Recent developments

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