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Italy Elevator and Escalator Market - Size & Growth Forecast 2023-2029

PUBLISHED DATE : Jan 2023 | Pages : 105

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THE ITALY ELEVATORS AND ESCALATORS MARKET SIZE WAS VALUED AT 29.8 THOUSAND UNITS IN 2022 AND IS EXPECTED TO REACH 35.2 THOUSAND UNITS BY 2029, GROWING AT A CAGR OF 2.41% DURING 2022-2029

Italy Elevator and Escalator Market Size (Volume) 

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

Italy Elevator Market Size (Volume) 

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

Italy Escalator Market Size by Volume  

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

Italy 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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17 Tables

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11 Companies

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6 Market Segment

ITALY ELEVATOR AND ESCALATOR MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE BY NEW INSTALLATIONS (2029) 35.2 thousand units
MARKET SIZE BY NEW INSTALLATIONS (2022) 29.8 thousand units
CAGR (2022-2029) 2.41%
MARKET SIZE BY INSTALLED BASE (2029) 1.14 Million Units
MARKET SIZE BY MODERNIZATION (2029) USD 602.3 Million
BASE YEAR 2022
FORECAST YEAR 2023-2029
HISTORIC YEAR 2020-2021
MARKET SEGMENTATION BY CAPACITY 2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above
MARKET SEGMENTATION BY END-USER Commercial, Residential, Industrial, and Others
MARKET SEGMENTATION BY TYPE Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others
MARKET SEGMENTATION BY CARRAIGE TYPE Passenger and Freight

MARKET ANALYSIS

The Italy elevators and escalators market is expected to reach 35.2 thousand units by 2029, growing at a CAGR of 2.41% from 2022-2029. The Italy elevators market is expected to reach 1,126,423 units (by the installed base) by 2029. The increasing demand for high-rise structures and the government's focus on infrastructure in key economic cities have propelled the Italy elevator and escalator market to new heights. In 2022, elevators used in the residential sector accounted for the largest share of around 38.6%, applicable to Italy's steadily increasing urban population. The rising use of elevators in apartment buildings significantly impacts their adoption in the residential sector.

Growth Rate Of Digitalization And Increasing Developments In Buildings To Drive The Italy Elevator And Escalator Market

  • Home transactions witnessed an increase of 43.1% in 2021. It is observed that housing purchases rose in smaller cities, towns, or the countryside in 2021 by 46.6% and in major cities by 36.1%. Increasing sales growth in smaller towns/cities or suburbs is contributed by the pandemic, which has stimulated demand for better access to living spaces, according to ANCE (Associazione Nazionale Costruttori Edili).
  • An investment of USD 41.7 million was invested in meeting the demand of Milan for developing long-term rental and social housing. Further, a residential project of 200 apartments project was planned in the Sarpi Area of Milan.
  • Nearly USD 30.8 million was allocated to energy efficiency projects and building redevelopment as a key investment in saving 0.98Mt CO2 by anticipating reduction through energy efficiency in public and private buildings.

Italy Elevators and Escalators Market Demand Report

KEY HIGHLIGHTS

  • Unity of Japanese engineer Hitachi and Italian contractors Webuild and Astaldi had been awarded a contract worth USD 2.8 billion in August 2020 to begin initial works on Verona-Padua high-speed/high-capacity railway project in Italy with an allocated fund of USD 5.4 billion. The project is anticipated to be finished by 2027 and will enhance the development of the infrastructure sector in Italy.
  • Ministry of Infrastructure had allocated USD 8.4 million towards mobility, water resources, housing, and urban renewal. In addition, another USD 661 million was financed for the “Caput Mundi” project, which the Ministry of Tourism initiated.
  • An estimated investment of around USD 312.6 million for a new logistics project is planned for Verona, Italy. The project is located in Vigasio and will be in two phases; an investment of USD 12.5 million is estimated to construct four buildings in an area of 200,000 m2. The project's second phase will involve an additional investment of USD 18.8 million. The initial phase is expected to be finished by 2023.
  • To promote increased tourist flows and enable the area's commercial fabric and community centers to resume, a moving walkway, also known as a sliding sidewalk, was installed in the tunnel between Rome's Via Nazionale and Via del Tritone. The Termini-Vatican-Aurelio tramway will pass across Via Nazionale on the Jubilee of 2025. The authority anticipates increased pedestrian and tourist traffic from the upgraded infrastructure.
  • Under Italy’s Budget Law 2021, funding of USD 33.3billion was allotted to Infrastructure 4.0 investment, USD 29.5billion for high-speed railway and road maintenance, and USD 38.5 was funded to intermodal transport and integrated logistics for the development of non-residential and infrastructure construction in Italy.
  • The Milan-Cortina 2026 Winter Olympics are the city's next major international event and are expected to be a successful operation, a fundamental demonstration for Italy. It's an opportunity to enhance Cortina's infrastructure, which is one of its drawbacks, and to attract international tourists.
  • Three million tons of carbon dioxide per year will be reduced by the Turin-Lyon railway by 2030. The Trans-European Transport Network (TEN-T) is building a railway between Turin and Lyon under the Alps. Webuild and its joint venture (JV) partners have been awarded a contract for excavating a section of the base tunnel for the Turin-Lyon high-speed train worth USD 1.69 billion (€1.43 billion).

Governments Effort To Expand Infrastructure Across Nation To Increase Demand For New Installations

  • Italy will likely invest USD 7.8 billion to modernize and increase capacity at its docks until 2026. The funding is mainly focused on increasing the size of the ships that Italy’s leading container ports can handle through dredging, new breakwaters, and improved connections to road and rail links.
  • The government of Italy allocated USD 4.1 billion towards mobility in 2022. Out of this funding, USD 2.1 billion will be utilized for local lines and high-speed rail and around USD 1.7 billion for rapid mass transport such as metros and subways, also upgrading the bus fleet in Rome.
  • The train run time between the Brescia-Verona-Vicenza line will be reduced by 2026 as the line between Liguria, and Alpi will compete. The upgradation of the Verona to Brennero line will also be witnessed with a value of USD 8.9 billion.
  • In Bentivoglio, part of the Bologna Freight Village complex, Italy, to design and construct three new turnkey logistics buildings. Three structures with floor areas of 12,340 m2, 18,200 m2, and 16,700 m2 are involved. Each building will have functional office space, a warehouse, and technical facilities. Since the corporation is committed to sustainability, these buildings will be LEED Silver certified.

Regulation-Driven Maintenance And Modernization of Elevators And Escalators In Italy To Create Demand

  • The maintenance and modernization of Italy elevator and escalator market accounted for 67.9% and 32.1%, respectively, for 2022.
  • According to ThyssenKrupp Elevator Italia, around 40% of the total building stock has crossed the threshold age of 30 years. Various technological advancements have made machine users more functional and economical from an energy perspective. They also need to satisfy EU regulations by sector, which is essential.
  • SMI (Scale Mobili Italia) is focused on the maintenance and service of mobility equipment, including elevators, escalators, and moving walkways. In 2018 it introduced training sessions and courses on the maintenance of escalators for technicians in elevator companies where they get to explore procedures for maintenance, modernization, and replacement of multi-brand escalators. This is expected to support the Italy elevator and escalator market growth during the forecast period.

REGIONAL ANALYSIS

  • The completion of metro line C will mark Rome's infrastructure revival with a budgeted price of USD 7 billion has been set out for this project. The line, built by a group of businesses that includes the Webuild Group, is one of the significant essential infrastructures in the capital because it runs from the edge of the city into the historic center.
  • Milan will be one of Europe's most modernized cities, with more public and private developments and an anticipated USD 13 billion investment by 2030 (including USD 2 billion for public urbanization projects). Additionally, the housing industry in Milan will add 33,000 units by 2030, accommodating 100,000 people. Such investment initiatives are expected to support the Italy elevator and escalator market.

VENDOR ANALYSIS

  • The key players in the Italy elevator and escalator market are KONE, Otis, TK Elevator Mitsubishi Electric, Schindler, and Fujitec.
  • The top 4 prominent vendors, including Otis, KONE, Schindler, and TK Elevator, account for 60% of the Italy elevator and escalator market share.
  • In June 2021, Otis Elevator introduced the next-generation Gen3 elevator at the Alexander Tower, Germany. The smart Gen3 elevator adds built-in Otis ONE Internet of Things (IoT) connectivity to the proven flat-belt technology of the Gen2 elevator.
  • TK Elevator launched its global spare parts strategy with the inauguration of its first Smart Data technological warehouse; a new state-of-the-art warehouse in Spain reduces waiting times for elevator spare parts by 20% and saves 10% of all trips by service technicians.
  • Continue rolling out digital products like MAX and implementing dedicated initiatives such as SPBE(Spare Parts Business Excellence) to enhance efficiency and help reduce emissions remain Mitsubishi Electric's strengths.

Italy Elevator and Escalator Market - Size & Growth Forecast 2023-2029

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Frequently Asked Questions

How big is the Italy elevator and escalator market?

The Italy elevator and escalator market size by new installations accounted for 29.8 thousand units in 2022 and is expected to reach 35.2 thousand units by 2029.

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

The Italy elevator and escalator market share by new installations is expected to grow at a CAGR of 2.41% during the forecast period (2023-2029).

What is the number of installed bases in the Italy elevators and escalators market in 2029?

The number of installed bases in the Italy elevators and escalators market accounts for approximately 1.14 Million Units in 2029.

Who are the key companies in the Italy elevator and escalator market?

The key players in the Italy elevator and escalator market are Otis, KONE, Schindler, TK Elevator, Mitsubishi Electric, and Fujitec.

What factors drive the maintenance and modernization segment in the Italy elevator and escalator market?

The growing installed base, high demand for performance, eco-efficiency, reliability, and safety, new maintenance technologies, high need for sustainability, safety, and people flow, and conversion to smart technology are driving the maintenance and modernization segment in Italy's elevator and escalator market.

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The Italy elevator and escalator market size by new installations was estimated at 29.8 thousand units in 2022 and is expected to reach 35.2 thousand units by 2029, growing at a CAGR of 2.41% during the forecast period (2023-2029).

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

  • Increasing Government Investment In Public Transport And Rail Infrastructure
  • Expanding High-Speed Rail Network To Drive Demand
  • Rising Investments In Construction Industry
  • Elevators & Escalators Gaining Popularity To Meet Mobility Demand From Aging Population

Base Year: 2022

Forecast Year: 2023-2029

The report considers the present scenario of the Italy elevators and escalators market and market dynamics for 2023−2029. 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 Italy elevator & escalator market.

Key Vendors

  • Otis
  • KONE
  • Schindler
  • TK Elevator
  • Mitsubishi Electric
  • Fujitec

Other Prominent Vendors

  • Stannah Lifts Holdings Ltd
  • GMV Lifts
  • Cibes Lift Group
  • Giovenzana
  • Wittur

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
  1. Introduction
    • Market Scope
    • Market Snapshot of Elevators
    • Market Snapshot of Escalators
    • Executive Summary
  2. Italy Elevators Market
    • Future Outlook -Italy Elevator Market By Volume
    • Italy Escalators Market- By Segments
      • Italy Escalators Market, By Volume

Italy Escalators Market Size and Forecast, Volume (Units), 2020–2029

  • Italy 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

  • Italy Elevators & Escalators Market by Carriage Type

Passenger, Market Size and Forecast, Volume (Units), 2020–2029

Freight, Market Size and Forecast, Volume (Units), 2020–2029

  • Italy 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

  • Italy 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

  1. Italy Escalators Market
    • Future Outlook - Italy Escalators Market by Volume
    • Italy Escalators Market- By Segments
      • Italy Escalators Market, By Volume

Italy Escalators Market Size and Forecast, Volume (Units), 2020–2029

  • Italy 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

  • Italy 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

  1. Italy Elevators &Escalators Market, By service (Maintenance & Modernization)
  2. Geographical Analysis
    • Key Economic cities in Italy
  3. Market Dynamics
    • Market Drivers, Opportunities, Restraints, Trends
  4. Technological Development
  5. Competitive Landscape
    • Company Profile of major Vendors
    • Other Prominent vendors
  6. Report Summary
    • List of Abbreviations
  7. Appendix (Report Scope & Definition)
    • Research Methodology
    • Market Definition, Inclusion & Exclusion
  1. Italy Elevator & Escalator Installed Base by Volume 2020-2029 (Units)
  2. Italy Elevator & Escalator New Installations by Volume 2020-2029 (Units)
  3. Market Share 2022: Maintenance
  4. Market Share 2022: Modernization
  5. Total Installed Base : Volume (Units in Thousands)
  6. Total New Installations: Volume (Units in Thousands)
  7. Elevators & Escalators Market, product & service 2022 New installations
  8. Elevators & Escalators Market, product & service 2022 Installed Base
  9. Maintenance and Modernization market, 2022
  10. Installed base of elevators by volume (units )
  11. New Installations of elevators by volume (units )
  12. Maintenance & Modernization Value($Million)
  13. Maintenance & Modernization 2022(%)
  14. Installed base of escalators by volume (units )
  15. New Installations of escalators by volume (units )
  16. Maintenance & Modernization Value($Million)
  17. Maintenance & Modernization 2022(%)
  18. Installed base and New installations of Elevators (Units)
  19. New Installations of Elevators (Units)
  20. Extended Elevator life cycle
  21. Average life expectancy of elevator components
  23. Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)
  24. Machine Room less Traction Elevators Installed base and New Installations (Units)
  25. Machine Room Traction Elevators Installed base and New Installations (Units)
  26. Others Machine Elevators Installed base and New Installation (Units)
  27. Installed base and new installations of Passenger Elevators (Units)
  28. Installed base and new installations of Freight Elevators (Units)
  29. Installed base and new installations of 2–15 persons elevators (Units)
  30. Installed base and new installations of 16-24 persons elevators (Units)
  31. Installed base and new installations of 25-33 persons elevators (Units)
  32. Installed base and new installations of 34 persons and above elevators (Units)
  33. Installed base and new installations of Commercial Elevators (Units)
  34. Installed base and new installations of Residential Elevators (Units)
  35. Installed base and new installations of Industrial Elevators (Units)
  36. Installed base and new installations of other end-user Elevators (units)
  37. Installed base and new installations of escalators (Units)
  38. New installations of escalators (Units)
  39. Installed base and new installations of Parallel Escalators (Units)
  40. Installed base and new installations of Multi parallel Escalators (Units)
  41. Installed base and new installations of Moving Walkway Escalators (Units)
  42. Installed base and new installations of Criss cross Escalators (units)
  43. Installed base and new installations of Public Transit Escalators (Units)
  44. Installed base and new installations of Commercial Escalators (Units)
  45. Installed base and new installations of Other End user Escalators (units)
  46. Italy Elevators & Escalators Maintenance Market ($ Mn)
  47. Italy Elevators & Escalators Modernization Market ($ Mn)
  48. Modernizing aging elevators can lead to 70% energy saving
  49. Elevators and Escalators market :key economic regions in Italy 2021
  50. Population aged 65 and above(% of total population)-Italy
  51. Quarterly construction cost index in Italy
  52. Market share 2020(% share)
  53. Otis total sales 2020-2021($billion)
  54. KONE, total sales by segment 2020(%share)
  55. Schindler, total sales 2017-2020($billion)
  56. TKE total sales 2020-2021($billion)
  57. Mitsubishi, total sales by segment2020(%share)
  58. Fujitec net sales 2017-2021($billion)

List of Tables

  1. By Machine, New Installations, Total Incremental Opportunity, 2022-2029
  2. SKYBUILD and SKYRISE Application by Buildings & Region
  3. By Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
  4. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
  5. By End User, New Installations, Total Incremental Opportunity, 2022-2029
  6. By Product, New Installations, Total Incremental Opportunity, 2022-2029
  7. By End User, New Installations, Total Incremental Opportunity, 2022-2029
  8. Upcoming Railway and Metro Projects in Italy
  9. High speed railway projects 2021
  10. Developments/ projects
  11. Elevators market size & forecast, by type (Units)
  12. Elevators by Carriage Type Market Size & Forecast (Units)
  13. Elevators market size & forecast, by persons (Units)
  14. Elevators by End-Users Market Size & Forecast(Units)
  15. Escalators market size & forecast, by type (Units)
  16. Escalators market size & forecast, by end users(Units)
  17. List of abbreviations

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