THE UAE ELEVATOR AND ESCALATOR MARKET SIZE WAS VALUED AT 12.4 THOUSAND UNITS IN 2022 AND IS EXPECTED TO REACH 17.1 THOUSAND UNITS BY 2029, GROWING AT A CAGR OF 4.73% DURING 2022-2029

UAE Elevator and Escalator Market Size (Volume) 

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

UAE Elevator Market Size (Volume) 

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

UAE Escalator Market Size by Volume  

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

UAE 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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108 Pages

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15 Tables

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50 Charts

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14 Companies

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6 Market Segment

UAE ELEVATOR AND ESCALATOR MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE BY NEW INSTALLATIONS (2029) 17.1 thousand units
MARKET SIZE BY NEW INSTALLATIONS (2022) 12.4 thousand units
CAGR (2022-2029) 4.73%
MARKET SIZE BY INSTALLED BASE (2029) 123.4 thousand units
MARKET SIZE BY MODERNIZATION (2029) USD 405.4 Million
BASE YEAR 2022
FORECAST YEAR 2023-2029
Historic Data 2020-2022
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 CARRIAGE TYPE Passenger and Freight

The UAE elevator and escalator market by new installations accounted for 12.4 thousand units in 2022 and is expected to reach 17.1 thousand units by 2029, growing at a CAGR of 4.73% from 2022-2029. The growth in skyscrapers and infrastructure investment are long-term demand drivers for the elevator and escalator market. Moreover, as the government pushes forward with different programs, such as the Dubai 2040 urban development plan, the Energy Strategy 2050, the Sheikh Zayed Housing Programme, and the Dubai Tourism Strategy, infrastructure will play a critical role in the UAE's expansion goals.

The UAE elevator market by the installed base is expected to reach 94,397 units in thousands by 2029. The increasing investment in UAE real estate resulting in the need for passengers to commute between levels is likely to elevate the demand for passenger elevators. Some of the new megaproject development in Dubai are Al Quoz Creative Zone, Dubai Urban Tech District, Mohammed bin Rashid Library, and many more.

KEY HIGHLIGHTS

  • The tourism industry in the United Arab Emirates is booming, mainly due to an influx of business, sports, leisure, and religious visitors. Dubai and Abu Dhabi are the most popular destinations for international visitors in the United Arab Emirates. With 10.1 million visitors in the first eight months of 2022, Dubai was 4th among the world's most popular cities. With 5.26 million visitors, Abu Dhabi was ranked 94th.
  • In 2021, The UAE's top ten tourism projects were worth USD 40 billion (£27.2 billion), maintaining the country's position as the GCC region's tourism leader.
  • The Abu Dhabi Plan Capital 2030 aims to increase urbanization and tourism in the UAE's major cities. The UAE is working on transportation and road infrastructure projects, including the USD 11 billion Etihad Rail project, the USD 5.9 billion projected hyperloop project between Dubai and Abu Dhabi, the USD 2.7 billion Sheikh Zayed double-deck road project, and others.

Expanding residential construction to hike elevators and escalators demand

  • Five supertall skyscraper developments are underway in the region, which is expected to support the UAE elevator and escalator market. Construction of Ciel Tower (366 m), Primo Tower 1 (356 m), Uptown Tower (339 m), One Za’abeel Residential Tower (330 m), and Al Wasl Tower (302 m) is expected to complete by 2023. As a result, demand for traction elevators is likely to rise as more skyscrapers are constructed.
  • UAE under-construction private villa or low-rise projects (such as Emaar Majestic Vistas, Emaar Surf, etc.) increased from 5,165 in 2020 to 5,642 in 2021, increasing the demand for 2–15-person elevators in the UAE elevator and escalator market.

Ongoing demand for buildings construction in infrastructure and commercial sector to boost demand for installation of elevators and escalators.

  • The Dubai Land Department (DLD) registered 2,845 commercial property transactions totaling Dh33.9 billion (USD 9.2 billion) in the third quarter of 2021. Compared to the previous quarter, transaction volumes were up 1%, and year-over-year, they were 34% higher.
  • With government-backed companies (Abu Dhabi Investment Council, Aabar Investments, etc.) projected to remain the primary source of demand for Grade A office space, an improvement in the macroeconomic situation could contribute to an increase in the entire commercial elevator industry in the future years.
  • One of the under-construction commercial projects in Abu Dhabi is Masdar City, with a projected value of USD 22,000 million and is supposed to complete by 2025.

Government's efforts to expand infrastructure across the nation to increase demand for new installations.

  • To help expand this industry even more, the Gulf aims to introduce a uniform visa procedure for international travelers, making travel formalities easier. In addition to operating flights on new routes in Asia, Europe, and Africa, regional airlines such as Etihad Airways, Qatar Airways, and Emirates Airlines are extending their codeshare arrangements with various airlines. As a result of these advancements, passengers will have access to ever more diverse travel options. The combination of these efforts will increase international tourist arrivals in the country.
  • UAE approves development projects worth nearly USD 54 million. The approved development initiatives include implementing a USD 49 million project linking Sheikh Khalifa Specialty Hospital with the Federal Road Network.
  • Zenatix has expanded its operations to the Middle East and the UAE region to offer organizations asset management solutions and robust cloud-based energy. Zenatix arrives in the topography at the perfect time with strategic initiatives declared by the Dubai government and corporates around climate preservation and sustainability, the UN Climate Change Conference (COP28) planned in Dubai in 2023, and Dubai Clean Energy Strategy 2050.

Elevators reaching their average life expectancy mainly in high-rise apartment buildings to boost the demand for maintenance in the UAE elevator and escalator market

  • Otis has introduced its enhanced ‘Signature Service’ offering in the UAE elevator and escalator market. Signature Service includes new digital technologies with the company’s legacy of special care for its customers’ people-moving equipment.
  • A digital economy approach drives the long-term growth potential of the modernization industry in UAE by integrating emerging technologies like Artificial Intelligence Cyber Security and supporting SME digitization.
  • The maintenance and modernization in the UAE elevator and escalator market accounted for 67% and 33%, respectively, for the year 2022.

VENDOR LANDSCAPE

  • The key players in the UAE elevator and escalator market are KONE, Otis, Mitsubishi Electric, Schindler, Hyundai Elevator, TK Elevator, and Hitachi.
  • The top 4 prominent vendors, including KONE, Otis, Mitsubishi Electric, and Schindler, account for 48% of the UAE elevator and escalator market share in UAE.
  • Schindler UAE is rising to the demands of the Emirates’ ever-expanding urbanization, confronting obstacles with a digital strategy, and bringing people to flow management to new heights.
  • In March 2019, KONE launched its first Regional Distribution Center (RDC) in the United Arab Emirates Dubai South Freezone (DWC). The RDC will be the Middle East and Africa's primary distributor of KONE and non-KONE spare parts.
  • The Schindler RISE (Schindler Robotic Installation System for Elevators) is being used to construct the Uptown Tower, a 340-meter-high skyscraper in Dubai's Uptown district be finished in 2022.

Frequently Asked Questions

How big is the UAE elevator and escalator market?

The UAE elevator and escalator market size by new installations accounted for 12.4 thousand units in 2022 and is expected to reach 17.1 thousand units by 2029.

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

The UAE elevator and escalator market share by new installations is expected to grow at a CAGR of 4.73% during the forecast period (2023-2029).

What is the number of installed bases in the UAE elevators and escalators market in 2022?

The number of installed bases in the UAE elevators and escalators market accounts for approximately 92.3 thousand units in 2022.

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

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

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

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

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The UAE elevator and escalator market size by new installations was estimated at 12.4 thousand units in 2022 and is expected to reach 17.1 thousand units by 2029, growing at a CAGR of 4.73% during the forecast period (2023-2029).

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

  • The UAE Government Announced USD 40 Billion Investment In Tourism
  • Increasing Government Expenditure On Infrastructure Projects
  • Underlying Megatrends Such As Energy Conservation And Sustainability Are Driving Business For Elevators And Escalators In UAE

Base Year: 2022

Forecast Year: 2023-2029

The report considers the present scenario of the UAE 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 UAE elevator & escalator market.

Key Vendors

  • KONE
  • Mitsubishi Electric
  • TK Elevator
  • Hitachi
  • Hyundai Elevator
  • Otis
  • Fujitec
  • Schindler
  • KÖHLER Elevator GmbH

Other Prominent Vendors

  • Sigma Elevator
  • Orona
  • KLEEMANN
  • Toshiba Elevator And Building Systems Corporation
  • ALFA Elevator Co. LLC

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. UAE Elevators Market
    • Future Outlook -UAE Elevator Market by Volume
    • UAE Escalators Market- By Segments
      • UAE Escalators Market, By Volume

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

  • UAE 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
  • UAE Elevators & Escalators Market by Carriage Type
    • Passenger, Market Size and Forecast, Volume (Units), 2020–2029
    • Freight, Market Size and Forecast, Volume (Units), 2020–2029
  • UAE 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
  • UAE 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. UAE Escalators Market
    • Future Outlook - UAE Escalators Market by Volume
    • UAE Escalators Market- By Segments
      • UAE Escalators Market, By Volume

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

  • UAE 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
  • UAE 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. UAE Elevators & Escalators Market, By Service (Maintenance & Modernization)
  2. -Geographical Analysis
    • Key Economic cities in UAE
  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. Number of International Tourists 2012–2021
  2. UAE Elevator & Escalator Installed Base by Volume 2020-2029 (Units)
  3. UAE Elevator & Escalator New Installations by Volume 2020-2029 (Units)
  4. Market Share 2022: Maintenance
  5. Market Share 2022: Modernization
  6. Total Installed Base: Volume (Units in Thousands)
  7. Total New Installations: Volume (Units in Thousands)
  8. Elevators & Escalators Market, product & service 2022 New installations
  9. Elevators & Escalators Market, product & service 2022 Installed Base
  10. Maintenance and Modernization market, 2022
  11. Installed base of elevators by volume (units)
  12. New Installations of elevators by volume (units)
  13. Maintenance & Modernization Value ($ Million)
  14. Maintenance & Modernization 2022 (%)
  15. Installed base of escalators by volume (units)
  16. New Installations of escalators by volume (units)
  17. Maintenance & Modernization Value ($ Million)
  18. Maintenance & Modernization 2022 (%)
  19. Installed base and new installations of Elevators (Units)
  20. New Installations of Elevators (Units)
  21. Extended Elevator life cycle
  22. 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. UAE Elevators & Escalators Maintenance Market ($ Mn)
  47. UAE Elevators & Escalators Modernization Market ($ Mn)
  48. Modernizing an aging elevator can lead to 70% energy saving
  49. Elevators and Escalators market: key regions in UAE
  50. Market share 2021 (% share)
  51. KONE, total sales by segment 2021 (% share)
  52. Mitsubishi, total sales by segment 2021 (% share)
  53. TKE total sales 2020-2021 ($ billion)
  54. Hitachi, total sales by segment 2021 (% share)
  55. Otis, total sales 2019-2021 ($ billion)
  56. Fujitec net sales 2017-2021 ($ billion)
  57. Schindler, total sales 2017-2020 ($ billion)

List of Tables

  1. Number of Buildings by Country (150m+ buildings)
  2. Skyscraper with a height of 350m or higher
  3. By Machine, New Installations, Total Incremental Opportunity, 2022-2029
  4. By Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
  5. Ongoing logistics projects in UAE
  6. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
  7. By End User, New Installations, Total Incremental Opportunity, 2022-2029
  8. Upcoming Commercial Construction Projects in Abu Dhabi
  9. Investment in Residential Projects
  10. Spending on Oil & Gas Project in UAE
  11. Upcoming Railway and Metro Projects in UAE
  12. By Product, New Installations, Total Incremental Opportunity, 2022-2029
  13. Infrastructural Development Projects
  14. By End User, New Installations, Total Incremental Opportunity, 2022-2029
  15. Number of Tourists Travelling to UAE (2015-2021)
  16. Infrastructure Projects
  17. Elevators market size & forecast, by type (Units)
  18. Elevators by Carriage Type Market Size & Forecast (Units)
  19. Elevators market size & forecast, by persons (Units)
  20. Elevators by End-Users Market Size & Forecast (Units)
  21. Escalators market size & forecast, by type (Units)
  22. Escalators market size & forecast, by end users (Units)
  23. List of abbreviations

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