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Turkey Elevator and Escalator - Market Size and Growth Forecast 2022-2028

PUBLISHED DATE : Aug 2022 | Pages : 113

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TURKEY ELEVATOR AND ESCALATOR MARKET SIZE WAS ESTIMATED AT 19.6 THOUSAND UNITS IN 2021 AND IS EXPECTED TO REACH 21.5 THOUSAND UNITS BY 2028, GROWING AT A CAGR OF 3.82% DURING THE FORECAST PERIOD (2022-2028).

Turkey Elevator and Escalator Market Size (Volume) 

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

Turkey Elevator Market Size (Volume) 

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

Turkey Escalator Market Size by Volume  

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

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

Elevator Market Segmentation

  • 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 

Escalator Market Segmentation

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

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

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113 Pages

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22 Tables

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68 Charts

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1 Regions

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1 Countries

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13 Companies

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6 Market Segment

TURKEY ELEVATOR AND ESCALATOR MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE BY NEW INSTALLATIONS (2028) 25.5 Thousand Units
MARKET SIZE BY NEW INSTALLATIONS (2021) 19.6 Thousand Units
CAGR (2021-2028) 3.82%
MARKET SIZE BY INSTALLED BASE (2028) 677 Thousand Units
MARKET SIZE BY MODERNIZATION (2028) USD 651.5 Million
BASE YEAR 2021
FORECAST YEAR 2022-2028
MARKET SEGMENTATION BY CARRAIGE TYPE Passenger and Freight
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 INSIGHTS

Turkey Elevator and escalator market was valued at 19.6 thousand units in 2021 and is expected to reach 21.5 thousand units by 2028, growing at a CAGR of 3.82% during the forecast period (2022-2028). Growth in residential and office infrastructure investment to be long-term demand drivers for Elevator and Escalator Market in Turkey. The Turkey elevators market is expected to reach 644,930 units (installed base) by 2028. The Turkey escalators market is expected to grow at a CAGR of 1.34%.

Expanding Infrastructure & Commercial Construction to hike Escalator demand

  • The UK government is helping finance a new 503-kilometer, high-speed electric railway line in Turkey that will connect the capital, Ankara, with the port city of Izmir. The $2.31Billion of green financing was led by Credit Suisse and Standard Chartered Bank and guaranteed by UK Export Finance (UKEF) through its Buyer Credit Scheme.
  • While the existing Grade-A office supply in Istanbul reached 5.8 million sqm GLA (Gross leasable area) as of year-end 2021, there is approximately 1.6 million sqm office supply under construction, and it is expected that the total Grade-A office supply will outpace 7.4 million sqm GLA by the end of 2023.
  • According to Shopping Centers and Investors Association (AYD), Before the Covid-19, Turkey had a total of 433 shopping malls and 13.5 million square meters of leasable space. 8 newly opened shopping malls and an additional area of 500 thousand square meters were added, and the total number of shopping malls reached 441, while the leasable area increased to around 14 million square meters in 2021.Increasing demand for shopping centers to push demand for elevators.

Overhaul of cities through Urban Transformation Action Plan to boost demand for installation of energy-efficient elevators.

  • The AFD (France Development Agency) has extended support for the funding and acquisition of energy-efficient housing in Turkey. This $283,060 (€270,000)technical assistance aspect, which began in December 2020, supports collaboration with the sector's main players to boost green housing production and demand in the Turkish market. The government will provide financial support to the tune of $2.7 billion to municipalities' climate-friendly projects, Environment, Urbanization, and Climate Change.
  • The Ministry of Environment and Urbanization, which is a major authority in urban transformation, announced in 2017 that nearly half of 15 million housing units are under disaster risk. As of May 2018, the Ministry of Environment and Urbanization declared a total of 188 areas at risk. So The Ministry of Environment and Urbanization launched an ambitious action plan for an overhaul of cities. The Urban Transformation Action Plan aims to demolish risky old buildings, replace them with sustainable living spaces, and improve downtown areas and historical sites. Under the plan, at least 300,000 units will be demolished and replaced with new ones in five years, including 100,000 in Istanbul.

Governments effort to expand infrastructure across the nation to increase demand for new installations.

  • In plans to expand its portfolio in Turkey, Marriott International is expected to open 10 hotel projects by the end of 2022. With the forthcoming projects, the company's portfolio in Turkey is expected to encompass 43 properties with over 7,000 rooms by the end of 2022. Reinforcing its long-term focus on the market, the company also announced two recent deal signings under the Four Points by Sheraton brand.
  • The $1.25 billion projects will be implemented by a joint venture led by China National Machinery (CMC) and Tasyap, Turkey. The project includes 22 stations and is 21.2 km long. The route runs from the Necmettin Erbakan University to the Meram Municipality.
  • Kocaeli Metropolitan Municipality launched works on the metro project estimated at $885 million. The new line will connect Gebze, a strong industrial center, and Darıca, both cities located on the coast of the Marmara Sea. The metro line will have two tunnels, each 15.6 km long, 6.5 m wide, and 12 stations. The line is expected to be commissioned in 2022.

Standard Inspection Framework by the Ministry of Industry and Technology to create demand for the Maintenance of elevators in Turkey

  • 2,790 organizations have received a service adequacy certificate (HYB) from the Turkish Standards Institute for elevator repair and service. According to the "Industry Registry Law, "335 component manufacturers and 2,749 elevator assembly and elevator component manufacturing businesses have industrial registration.
  • Periodic control of elevators is carried out by A-type inspection bodies, which have signed protocols with the relevant administrations, after being authorized by the Ministry of Industry and Technology in accordance with the Elevator Periodic Control Regulation.38 different A-type inspection bodies were authorized by the Ministry of Industry and Technology and made public was announced in 2020.
  • The digital economy approach drives the long-term growth potential of Turkey's modernization market by integrating emerging technologies. Brands such as Otis, KONE, Schindler, and Mitsubishi are now using systems that can be used to send commands to modem-connected hardware placed in controllers through modules developed by cloud providers such as IBM, Amazon, and Google for global manufacturers or accessed via any internet browser and communicating through standard HTTP protocols.

VENDOR LANDSCAPE

  • The key players in Turkey's elevator and escalator market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, and Schindler.
  • The top 4 prominent vendors, including TK elevator, Otis, Schindler, and KONE, account for 39% of the market share in Turkey.
  • Schindler started its activities as Turkeli Elevator in 1947 and has been operating as Schindler Turkeli Elevator Sanayi A.Ş. since 1992. Schindler has regional offices in Ankara, Izmir, Antalya, and Adana and representative offices in many provinces, especially in Istanbul's European and Anatolian regions.

Turkey Elevator and Escalator - Market Size and Growth Forecast 2022-2028

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Frequently Asked Questions

HOW BIG IS THE TURKEY ELEVATOR AND ESCALATOR MARKET?

Turkey's elevator and escalator market by new installations was estimated at 19.6 thousand units in 2021 and is expected to reach 21.5 thousand units by 2028 growing at a CAGR of 3.82% during the forecast period (2022-2028).

WHAT ARE THE GROWTH FACTORS FOR THE TURKEY ELEVATOR AND ESCALATOR MARKET?

Growth in skyscrapers and ongoing urbanization, and rising housing sales will drive the market growth.

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

KONE, Schindler, TK Elevator, OTIS, Hitachi, Hyundai Elevators, and Mitsubishi Electric are the key companies in the market.

IN TURKEY, HOW MANY ELEVATORS AND ESCALATORS (INSTALLED BASE) WERE INSTALLED IN 2021?

559.2 Thousand units of elevators and escalators (by installed base type) were installed in Turkey in 2021.

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Turkey elevator and escalator market by new installations was estimated at 19.6 thousand units in 2021 and is expected to reach 21.5 thousand units by 2028 growing at a CAGR of 3.82% during the forecast period (2022-2028).

Base Year: 2021

Forecast Year: 2022-2028

Scope: The report considers the present scenario of Turkey's elevator & escalator market and dynamics for 2022−2028. It covers a detailed overview of several industry growth enablers, restraints, and trends. The study includes the volume and value sales with a segment analysis of the Turkey elevators & escalators market.

Key Vendors

  • Kone
  • Mitsubishi Electric
  • TK Elevator
  • Hitachi
  • Hyundai Elevator
  • OTIS
  • Schindler

Other Prominent Vendors

  • KLEEMANN
  • WITTUR
  • ISF Elevator
  • SCHMERSAL
  • MERIH ELEVATOR
  • AMETAL

Segmentation by Type

  • Hydraulic and Pneumatic
  • Machine Room Traction
  • Machine Room Less Traction
  • Others

Segmentation by carriage Type

  • Passenger
  • Freight

Segmentation by Person

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

Segmentation by End-User

  • Commercial
  • Residential
  • Industrial
  • Others

Section 1 – Introduction

  • Market Scope
  • Market Snapshot of Elevators
  • Market Snapshot of Escalators
  • Executive Summary

 Section 2 – Turkey Elevators Market

 Future Outlook -Turkey Elevator Market By Volume

2.1- Turkey Escalators Market- By Segments


2.1.1- Turkey Escalators Market, By Volume

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

2.1.1.1. Turkey 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. Turkey 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. Turkey 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. Turkey 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- Turkey Escalators Market
Future Outlook - Turkey Escalators Market by Volume

 3.1- Turkey Escalators Market- By Segments


 3.1.1- Turkey Escalators Market, By Volume

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

3.1.1.1 Turkey 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 Turkey 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 Turkey Elevators &Escalators Market, By Service (Maintenance & Modernization)


Section 5-Geographical Analysis

Key Economic cities in Turkey

Section 6- Market Dynamics

  • Market Drivers, Opportunities, Restraints, Trends

Section 7 – Technological Development
Section 8– Competitive Landscape
1. Company Profile of Major Vendors
2. Other Prominent vendors


Section 9 – Report Summary

  1. List of Abbreviations

    Section 10– Appendix (Report Scope & Definition)
    1. Research Methodology
    2. Market Definition, Inclusion & Exclusion

LIST OF EXHIBITS

  1. Percentage share of labeled elevators 2019
  2. Percentage of residential construction building permits by type-2021
  3. Turkey Elevator & Escalator Installed Base by Volume 2018-2028 (Units)
  4. Turkey Elevator & Escalator New Installations by Volume 2018-2028 (Units)
  5. Market Share 2021: Maintenance
  6. Market Share 2021: Modernization
  7. Total Installed Base : Volume (Units in Thousands)
  8. Total New Installations: Volume (Units in Thousands)
  9. Global Elevators & Escalators Market: Products & Services 2021: New installations
  10. Global Elevators & Escalators Market: Products & Services 2021: Installed base
  11. Maintenance market, region vs turkey 2021
  12. Installed base of elevators by volume (units )
  13. New Installations of elevators by volume (units )
  14. Maintenance & Modernization Value($Million)
  15. Maintenance & Modernization 2021(%)
  16. Installed base of escalators by volume (units )
  17. New Installations of escalators by volume (units )
  18. Maintenance & Modernization Value($Million)
  19. Maintenance & Modernization 2021(%)
  20. Installed base and New installations of Elevators (Units)
  21. New Installations of Elevators (Units)
  22. Elevator density per 1000 population
  23. Overall Housing Sales in Turkey -2021(Thousands)
  24. Extended life cycle of Elevators
  25. Average life expectancy of elevator components
  26. Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)
  27. Machine Room less Traction Elevators Installed base and New Installations (Units)
  28. Machine Room Traction Elevators Installed base and New Installations (Units)
  29. Others Machine Elevators Installed base and New Installation (Units)
  30. Installed base and new installations of Passenger Elevators (Units)
  31. Installed base and new installations of Freight Elevators (Units)
  32. Installed base and new installations of 2–15 persons elevators (Units)
  33. Installed base and new installations of 16-24 persons elevators (Units)
  34. Installed base and new installations of 25-33 persons elevators (Units)
  35. Installed base and new installations of 34 persons and above elevators (Units)
  36. Installed base and new installations of Commercial Elevators (Units)
  37. Installed base and new installations of Residential Elevators (Units)
  38. Installed base and new installations of Industrial Elevators (Units)
  39. Installed base and new installations of other end-user Elevators (units)
  40. Installed base and new installations of escalators (Units)
  41. New installations of escalators (Units)
  42. Installed base and new installations of Parallel Escalators (Units)
  43. Installed base and new installations of Multi parallel Escalators (Units)
  44. Installed base and new installations of Moving Walkway Escalators (Units)
  45. Installed base and new installations of Criss cross Escalators (units)
  46. Installed base and new installations of Public Transit Escalators (Units)
  47. Installed base and new installations of Commercial Escalators (Units)
  48. Installed base and new installations of Other End user Escalators (units)
  49. Turkey Elevators & Escalators Maintenance Market ($ Mn)
  50. Percentage share of labelled elevators 2017-2019
  51. Cause of elevator accidents(%share)
  52. Turkey Elevators & Escalators Modernization Market ($ Mn)
  53. Elevator Modernization Timeline
  54. Elevators and Escalators market :key economic cities in Turkey 2021
  55. Total Number of building permits in residential construction
  56. Percentage of residential construction building permits by type-2021
  57. Residential sales to foreigners in Turkey -2021
  58. Cities preferred by foreign buyers(%share)-2021
  59. Number of hotel establishments 2016-2020
  60. Upcoming hotel projects
  61. Market share 2020(% share)
  62. KONE, total sales by segment 2020(%share)
  63. Mitsubishi, total sales by segment2020(%share)
  64. TKE total sales 2020-2021($billion)
  65. Hitachi, total sales by segment 2020 (% share)
  66. Hyundai, sales 2018-2020($billion)
  67. Otis total sales 2019-2021($billion)
  68. Schindler, total sales 2017-2020($billion)

LIST OF TABLES

  1. Leading ten tallest buildings in Turkey
  2. Overall Housing Sales by Key Provinces
  3. By Machine, New Installations, Total Incremental Opportunity, 2021-2028
  4. By Carriage Type, New Installations, Total Incremental Opportunity, 2021-2028
  5. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2021-2028
  6. By End User, New Installations, Total Incremental Opportunity, 2021-2028
  7. By Product, New Installations, Total Incremental Opportunity, 2021-2028
  8. By End User, New Installations, Total Incremental Opportunity, 2021-2028
  9. Existing & Pipeline shopping center supply in units
  10. Elevators periodic control data-2019
  11. Building permits by type of sector
  12. Residential sales by top 5 country buyers
  13. Hotel occupancy rate -2021
  14. Green housing project in Turkey
  15. Developments/ projects
  16. Elevators market size & forecast, by type (Units)
  17. Elevators by Carriage Type Market Size & Forecast (Units)
  18. Elevators market size & forecast, by persons (Units)
  19. Elevators by End-Users Market Size & Forecast(Units)
  20. Escalators market size & forecast, by type (Units)
  21. Escalators market size & forecast, by end users(Units)
  22. List of abbreviations

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