Indonesia Elevator and Escalator Market Size, Growth, Forecast 2029

Name: Indonesia Elevators and Escalators Market - Size and Forecast 2023-2029
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THE INDONESIA ELEVATOR AND ESCALATOR MARKET SIZE WAS VALUED AT 6.6 THOUSAND UNITS IN 2022 AND IS EXPECTED TO REACH 8.6 THOUSAND UNITS BY 2029, GROWING AT A CAGR OF 3.96% FROM 2022-2029

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 Size, Share, & Trends Analysis Report by

Elevator Market Segmentation

Machine Type: Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others (Climbing Elevators and Industrial Elevators)
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 (Public Transit, Institutional, and Infrastructural)

Escalator Market Segmentation

Product Type: Parallel, Multi Parallel, Walkway, and Crisscross
End-User: Public Transit, Commercial, and Others (Institutional Sector, Infrastructure & Industrial)

The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2023-2029

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Most Exhaustive Report

116 Pages

22 Tables

52 Charts

1 Regions

1 Countries

17 Companies

6 Market Segment

INDONESIA ELEVATOR AND ESCALATOR MARKET REPORT SCOPE

Report Attribute	Details
MARKET SIZE BY NEW INSTALLATIONS (2029)	8.6 thousand units
MARKET SIZE BY NEW INSTALLATIONS (2022)	6.6 thousand units
CAGR (2022-2029)	3.96%
MARKET SIZE BY INSTALLED BASE (2029)	61.2 thousand units
MARKET SIZE BY MODERNIZATION (2022)	USD 205.6 Million
BASE YEAR	2022
FORECAST YEAR	2023-2029
SEGMENTATION BY CARRIAGE TYPE	Passenger and Freight
SEGMENTATION BY CAPACITY	2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above
SEGMENTATION BY END-USER	Commercial, Residential, Industrial, and Others
SEGMENTATION BY TYPE	Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others
KEY VENDORS	KONE, Mitsubishi Electric, TK Elevator, Hitachi, Hyundai Elevator, Otis, Fujitec, Schindler, KÖHLER Elevator GmbH, and CANNY Elevator Co., Ltd.

INDUSTRY OVERVIEW

The Indonesia elevator and escalator market by new installations accounted for 6.6 thousand units in 2022, which is expected to reach 8.6 thousand units by 2029 growing at a CAGR of 3.96%. Increased urbanization, an aging population, rising demand for high-rise structures, adoption of green building initiatives, and the government's focus on infrastructure in key economic cities have propelled the Indonesia elevator and escalator market to new heights.

KEY HIGHLIGHTS

Nusantara, Indonesia's new capital, spanning over a 6.6-hectare government zone, will house 184 residential building towers, which is yet to begin in Q2 2023. These residential buildings will accommodate ministries, the State Palace, the House of Representatives, and housing for some 50,000 civil servants and 500,000 residents. The project is relied on around 80% of private investment, with an investment of USD 32 billion.
The government offers companies tax relief for 30 years and a 350% super-tax deduction for expenditure on research and development if companies tend to invest in the planned new capital city.
Lido City, located around 60 km from the present capital, will span over an area of 30 sq.km and will be a tourism special economic zone. MNC is developing this project with an investment of USD 2 billion will comprise the construction of a movie production complex, a golf course, a hotel, a resort, and a music and arts center. Such development will support the Indonesia elevator and escalator market growth. This development was signed off in June 2021 to draw the attention of local and international tourists and engage six-seven million visitors annually in the next five years.
Indonesia plans to invest roughly USD 430 billion in infrastructure projects by 2024-25. Housing infrastructure, services, and amenities for 500,000 units, including 50,000 apartment units, 25,000 special housing units, 1.5 million single homes, and housing infrastructure, facilities, and utilities for 1.5 million single houses are all included in the project.
In the regions of Jakarta metropolitan area, commonly referred to as Jabodetabek (which encompasses Jakarta, Bogor, Depok, Tangerang, and Bekasi), the availability of well-located affordable land is currently extremely limited. One key solution to this challenge is transitioning from traditional landed houses to multi-story homes and carefully selecting the appropriate housing typology. This shift would effectively increase the housing supply within the city.
Hyundai Elevator announced that it is becoming a part of a government-led consortium to secure a megacity project in Indonesia, encompassing construction, mobility, and smart city solutions. The consortium, named One Team Korea, is headed by Land, Infrastructure, and Transport Minister Won Hee-ryong, with 22 companies from various industries joining forces.
In June 2023, the president of Indonesia issued a presidential regulation ordering the construction of a VVIP airport at the intended site of the country's new capital, Nusantara, in East Kalimantan. The Public Works and Housing Ministry has been granted the authority to carry out the project, while the Transportation Ministry will be responsible for the airport's operations. The VVIP airport will be dedicated to government business in the new capital city (IKN) and has attracted interest from investors in South Korea, Japan, and India. The airport is planned to be situated approximately 10 to 15 kilometers from the center of IKN, and construction is expected to commence in May or June 2023.
The recent building collapses in the region have highlighted the need for improved regulation and enforcement to ensure seismic safety. To address this concern, the Minister of Public Works and Public Housing has mandated that earthquake-related buildings adhere to earthquake-resistant building standards in 2022. Given the occurrence of earthquakes approximately every 20 years, it is imperative that these structures are equipped with the necessary safety measures. In November 2022, the Indonesian president pledged to rebuild the more than 56,000 damaged homes, emphasizing their construction to be earthquake-resistant.

Government Focuses on Increasing Foreign Property Investment in Indonesia to Boost Demand for the Installation of Elevators

As of 2022, Indonesia had plans to introduce a long-term residency visa program to attract foreign investors, especially those interested in capital and property investment, including individuals from mainland China and Hong Kong. This initiative aims to encourage foreign capital inflow and boost the property industry in the country, positioning Indonesia as an attractive destination for foreign investors.
Currently, only 1% of Indonesia's annual new homes meet the criteria for green housing. The government has taken some steps towards promoting green construction by mandating green certification for multi-story commercial and residential buildings that meet specific standards. However, landed houses, which constitute 88% of the government's Public-Private Partnership Socialized Housing (PSR) program, are exempt from the green building requirements set forth by the Green Building Certification program launched in 2021.

Governments Efforts to Expand Infrastructure Across the Nation to Increase Demand for New Installations

In 2022, local and provincial governments allocated approximately IDR95 trillion (~$6.3 billion), equivalent to about 10% of their budget, for capital expenditures. This investment aims to enhance and develop local infrastructures, driving the transformation of at least 100 cities in Indonesia into Smart Cities by 2045.
Indonesia's National Medium Term Development Plan 2020-2024 accelerates the development of downstream mining, oil, gas, and copper industries. Various industrial projects like Teluk Bintuni Industrial Zone and Batulicin Industrial Zone are underway. Thus, increased spending on these industries would drive demand for industrial elevators in Indonesia's elevator and escalator market.
Phase 2A of the Mass Rapid Transit (MRT) Jakarta is underway and expected to be completed between 2027 and 2028. The estimated cost of the Jakarta MRT project, including electrical and mechanical systems and rolling stock, is at least $1.7 billion PT MRT Jakarta (Perseroda) has set a target to finish the construction of Phase 2, which spans 11.8 kilometers from Bundaran HI to West Ancol, by 2028 with an investment of Rp32.5 trillion(~$2.2 billion). It will have nine underground stations and one depot. Additionally, PT MRT Jakarta (Perseroda) has plans to develop Phase 3 of the Ujung Menteng to Kalideres line, covering a distance of 31 kilometers, with an investment of Rp55 trillion(~$3.6 billion). Furthermore, Phase 4 of the Fatmawati to Taman Mini Indonesia Indah (TMII) line, spanning 12 kilometers, will be developed with an investment of Rp28 trillion(~$1.8 billion).

VENDOR LANDSCAPE

The key players in the Indonesia elevator and escalator market are KONE, Mitsubishi, TKE, Hitachi, Hyundai Elevator, OTIS, Fujitec, Schindler, CANNY, and KOHLER.
The top five prominent vendors include KONE, Schindler, Mitsubishi, and Hitachi, with Mitsubishi and Schindler holding a 45% share of the Indonesia elevator and escalator market. In March 2022, the development of One Avenue Batam will take place in two stages. The initial phase will consist of five apartment towers, each comprising 16 floors, was launched in 2022. The second phase will involve the construction of four towers, with heights ranging up to 20 floors. The overall construction timeline for the project is set for ten years. Schindler has been chosen to provide vertical transportation solutions for development.
In March 2019, PT Berca Schindler Lifts (BSL) announced its expansion into Central Java by opening a fourth branch in Yogyakarta. After almost 20 years of serving Indonesian customers, BSL sets its commitment to offering vertical transportation solutions and reinforces its goal of becoming the region's leading lift and escalator provider.

Indonesia Elevators and Escalators Market - Size and Forecast 2023-2029

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Frequently Asked Questions

How big is the Indonesia elevator and escalator market?

The Indonesia elevator and escalator market size by new installations accounted for 6.6 thousand units in 2022 and is expected to reach 8.6 thousand units by 2029.

What will be the growth rate of the Indonesia elevator and escalator market?

The Indonesia elevator and escalator market share by new installations is expected to grow at a CAGR of 3.96% during the forecast period (2023-2029).

What is the number of installed bases in the Indonesia elevator and escalator market in 2022?

The number of installed bases in the Indonesia elevator and escalator market accounts for approximately 50.1 thousand units in 2022.

What are the key opportunities in the Indonesia elevator and escalator market?

The key opportunities in the Indonesia elevator and escalator market are the government mandating the purchase of domestic products will benefit local SMEs in the vertical transportation industry, and the demand for smart elevators is expected to surge due to the implementation of smart city projects.

What are the key Indonesia elevator and escalator market players?

The key players in the Indonesia elevator and escalator market are KONE, Mitsubishi Electric, TK Elevator, Hitachi, Hyundai Elevator, Otis, Fujitec, Schindler, KÖHLER Elevator GmbH, and CANNY Elevator Co., Ltd.

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The Indonesia elevator and escalator market size by new installations was estimated at 6.6 thousand units in 2022 and is expected to reach 8.6 thousand units by 2029, growing at a CAGR of 3.96% during the forecast period.

The following factors are likely to contribute to the growth of the Indonesia elevator and escalator market during the forecast period:

Increasing Government Investment in Key Sectors
Government Focus on Increasing Revenue From the Tourist Sector
Increased Inflow of Foreign Property Investors
Anticipated Surge in High-Net-Worth Individuals
The Increasing Popularity of Green Buildings Is Expected to Drive the Demand for Energy-Efficient Elevators
Seismic Activity Demanding Better Enforcement in Buildings
Underlying Megatrends Such as Urbanization and Population Growth Are Driving the Indonesia Elevator and Escalator Market
Housing Deficit to Support the Demand for Residential Elevators

Base Year: 2022

Forecast Year: 2023-2029

The report considers the present Indonesia elevator and escalator market scenario and market dynamics from 2023 to 2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study includes the volume and value sales with a segment analysis of the Indonesia elevator & escalator industry.

Key Vendors

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

Other Prominent Vendors

Kunshan Hualong Elevator
SJEC
Analogue Holdings
SUZHOU JIUDE ELECTRICAL AND MECHANICAL TECHNOLOGY
SHENYANG YUANDA INTELLECTUAL INDUSTRY
IFE Elevators
Sigma Elevators

Elevator Market Segmentation by

Machine Type

Hydraulic and Pneumatic
Machine Room Traction
Machine Room Less Traction
Others
- Climbing
- Elevators
- Industrial Elevators

Carriage Type

Passenger
Freight

Capacity

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

End-User

Commercial
Residential
Industrial
Others
- Public Transit
- Institutional
- Infrastructural

Escalator Market Segmentation by

Product Type

Parallel
Multi Parallel
Walkway
Crisscross

End-User

Public Transit
Commercial
Others
- Institutional Sector
- Infrastructure
- Industrial

Introduction
- Market Scope
- Market Snapshot of Elevators
- Market Snapshot of Escalators
- Executive Summary

Indonesia Elevators Market
- Future Outlook -Indonesia Elevator Market by Volume
- Indonesia Escalators Market- By Segments
  - Indonesia Escalators Market, By Volume
    - Indonesia Escalators Market Size and Forecast, Volume (Units in Thousand), 2020–2029
  - Indonesia Elevators Market, By Type
    - Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units),2020–2029
    - Machine Room Traction, Market Size and Forecast, Volume (Units), 2020–2029
    - Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2020–2029
    - Others, Market Size and Forecast, Volume (Units), 2020–2029
  - Indonesia Elevators & Escalators Market by Carriage Type
    - Passenger, Market Size and Forecast, Volume (Units), 2020–2029
    - Freight, Market Size and Forecast, Volume (Units), 2020–2029
  - Indonesia Elevators Market by Persons
    - 2-15 Persons, Market Size and Forecast, Volume (Units), 2020–2029
    - 16-24 Persons, Market Size and Forecast, Volume (Units), 2020–2029
    - 25-33 Persons, Market Size and Forecast, Volume (Units), 2020–2029
    - 34 Persons and Above, Market Size and Forecast, Volume (Units), 2020–2029
  - Indonesia Elevators Market by End Users
    - Commercial, Market Size and Forecast, Volume (Units), 2020–2029
    - Residential, Market Size and Forecast, Volume (Units), 2020–2029
    - Industrial, Market Size and Forecast, Volume (Units), 2020–2029
    - Others, Market Size and Forecast, Volume (Units), 2020–2029

Indonesia Escalators Market
- Future Outlook - Indonesia Escalators Market by Volume
- Indonesia Escalators Market- By Segments
  - Indonesia Escalators Market, By Volume
    - Indonesia Escalators Market Size and Forecast, Volume (Units), 2020–2029
  - Indonesia Escalator Market by Type
    - Parallel, Market Size and Forecast, Volume (Units), 2020–2029
    - Multi-parallel, Market Size and Forecast, Volume (Units), 2020–2029
    - Walkway, Market Size and Forecast, Volume (Units), 2020–2029
    - Crisscross, Market Size and Forecast, Volume (Units), 2020–2029
  - Indonesia Escalator Market by End users
    - Commercial, Market Size and Forecast, Volume (Units), 2020–2029
    - Public Transit, Market Size and Forecast, Volume (Units), 2020–2029
    - Others, Market Size and Forecast, Volume (Units), 2020–2029

Indonesia Elevators &Escalators Market, By service (Maintenance & Modernization)
Geographical Analysis
- Key Economic countries in Indonesia
Market Dynamics
- Market Drivers, Opportunities, Restraints, Trends

Technological Development
Competitive Landscape
- Company Profile of major Vendors
- Other Prominent vendors

Report Summary
- List of Abbreviations

Appendix (Report Scope & Definition)
- Research Methodology

Market Definition, Inclusion & Exclusion

Indonesia Elevator & Escalator Installed Base by Volume 2020-2029 (Units)
Indonesia Elevator & Escalator New Installations by Volume 2020-2029 (Units)
Market Share 2022: Maintenance
Market Share 2022: Modernization
Indonesia Installed Base: Volume (Units in Thousands)
Indonesia New Installations: Volume (Units in Thousands)
Installed base of elevators by volume (units in thousands)
New Installations of elevators by volume (units in thousands)
Maintenance & Modernization Value($Million)
Maintenance & Modernization 2022(%)
Installed base of escalators by volume (units in thousand)
New Installations of escalators by volume (units in thousand)
Maintenance & Modernization Value($Million)
Maintenance & Modernization 2022(%)
Installed base and New installations of Elevators (Units)
New Installations of Elevators (Units)
Average Life Expectancy Of Elevator Components
Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)
Machine Room less Traction Elevators Installed base and New Installations (Units)
Machine Room Traction Elevators Installed base and New Installations (Units)
Others Machine Elevators Installed base and New Installation (Units)
Installed base and new installations of Passenger Elevators (Units)
Installed base and new installations of Freight Elevators (Units)
Installed base and new installations of 2–15 persons elevators (Units)
Installed base and new installations of 16-24 persons elevators (Units)
Installed base and new installations of 25-33 persons elevators (Units)
Installed base and new installations of 34 persons and above elevators (Units)
Installed base and new installations of Commercial Elevators (Units)
Installed base and new installations of Residential Elevators (Units)
Installed base and new installations of Industrial Elevators (Units)
Installed base and new installations of other end-user Elevators (units)
Installed base and new installations of escalators (Units)
New installations of escalators (Units)
Installed base and new installations of Parallel Escalators (Units)
Installed base and new installations of Multi parallel Escalators (Units)
Installed base and new installations of Moving Walkway Escalators (Units)
Installed base and new installations of Criss cross Escalators (units)
Installed base and new installations of Public Transit Escalators (Units)
Installed base and new installations of Commercial Escalators (Units)
Installed base and new installations of Other End user Escalators (units)
Indonesia Elevators & Escalators Maintenance Market ($ Bn)
Indonesia Elevators & Escalators Modernization Market ($ Bn)
Elevators and Escalators market: Geographic Analysis
Indonesia Green affordable housing program (IGAHP) Target
Market share 2020(% share)
KONE, total sales by segment 2022(%share)
Mitsubishi, total sales by segment2022(%share)
TKE total sales 2020-2022($billion)
Schindler, total sales 2017-2022($billion)
Hitachi Total Sales by Segment 2022(% Share)
Otis total sales 2020-2022($billion)
Fujitec net sales 2017-2022($billion)

LIST OF TABLES

Buildings greater than 150m+ in Countries
Buildings Under Construction in Indonesia
By Machine, New Installations, Total Incremental Opportunity, 2022-2029
By Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
By Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
By End User, New Installations, Total Incremental Opportunity, 2022-2029
By Product, New Installations, Total Incremental Opportunity, 2022-2029
By End User, New Installations, Total Incremental Opportunity, 2022-2029
Geographic Analysis
Investment Realization in Q1 2023: Based on Sector
Tourists by Country in 2022
Average Room Occupancy of star hotels by Province
Urban population by class of Urban settlement in Indonesia
Percentage of Urban household by Province and ownership status of owned houses
Developments/ projects
Elevators market size & forecast, by type (Units)
Elevators by Carriage Type Market Size & Forecast (Units)
Elevators market size & forecast, by persons (Units)
Elevators by End-Users Market Size & Forecast (Units)
Escalators market size & forecast, by type (Units)
Escalators market size & forecast, by end users (Units)
List of abbreviations

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Indonesia Elevators and Escalators Market - Size and Forecast 2023-2029

THE INDONESIA ELEVATOR AND ESCALATOR MARKET SIZE WAS VALUED AT 6.6 THOUSAND UNITS IN 2022 AND IS EXPECTED TO REACH 8.6 THOUSAND UNITS BY 2029, GROWING AT A CAGR OF 3.96% FROM 2022-2029

Most Exhaustive Report

INDONESIA ELEVATOR AND ESCALATOR MARKET REPORT SCOPE

INDUSTRY OVERVIEW

KEY HIGHLIGHTS

VENDOR LANDSCAPE

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