Australia Elevator and Escalator Market Insights Forecasts to 2033

• The Australia Elevator and Escalator Market Size was valued at USD 1.46 Billion in 2023
• The Market is Growing at a CAGR of 4.65% from 2023 to 2033
• The Australia Elevator and Escalator Market Size is Expected to Reach USD 2.30 Billion by 2033

The Australia Elevator and Escalator Market Size is Anticipated to Reach USD 2.30 Billion by 2033, Growing at a CAGR of 4.65% from 2023 to 2033.

Market Overview

An elevator is one of the room-type lifts that can take several persons at one time. It is utilized in any structure to move people from the lower floors to the upper floors as well as the other way around. Elevators are moving flights of stairs that work with transport between the different levels of a structure. This reflects the investment and modernization trend in Australian urban infrastructure. As cities expand to accommodate this growing population, so does the requirement for alternative energy-efficient modes of horizontal transport. Passenger lifts, baggage lifts, stairways, and walkways can be quoted to support this ever-increasing commercial market to play an increasingly important role in the urban architectural landscape of Australia. Various factors are propelling the lift and escalator industry in Australia. The first factor is on the importance of sustainability and energy, which influences manufacturers to come up with green, very friendly solutions. Second is Australia's stringent federal securities standards that stimulate annual growth and maintenance of current policies, creating an ongoing demand in the market, especially in Sydney, and Melbourne in urban cities like Brisbane. Urbanization directly impacts market expansion; for example, most new commercial and residential projects require new elevator and escalator installation.

Report Coverage

This research report categorizes the market for the Australia elevator and escalator market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia elevator and escalator market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia elevator and escalator market.

Driving Factors

An increase in tall building construction has been observed in the urban cities of Sydney, Melbourne, and Brisbane in the last five years, which reflects a growing interest in high-rise projects across Australian cities. This growth is making the elevator and escalator market boom as these facilities are intrinsic to functional tall structures. The urban landscape is changing, and this is forcing efficient vertical transportation solutions for the management of foot traffic and space optimization. This makes them comply with stern safety standards required by the government, and proper checking and maintenance of elevators and escalators is quite important. More than this, there is an increase in the use of energy-efficient and intelligent systems, which have seen a 40% increase in installation during the last five years only. However, there is still a critical demand for eco-friendly systems in this industry, which not only saves long-run costs but also provides environmental sustainability.

Restraining Factors

Installation and upkeep costs represent the significant challenges in the market for elevator and escalator systems. Regulation with Australian standards and safety provisions entails continuous investment for which owners and operators of this product are charged considerably as operational cost. Economic and high-tech equipment conditions also remain a threat to the level of demand, as a skilled technician’s shortage can affect the growth of the market.

Market Segmentation

The Australia Elevator and Escalator Market share is classified into type, elevator technology, and service.

• The elevators segment is expected to hold the largest market share through the forecast period.

The Australia elevator and escalator market is segmented by type into elevators, escalators, and moving walkways. Among these, the elevators segment is expected to hold the largest market share through the forecast period. Lifts are commonly found both in residential and commercial buildings of any industry, however strong the vertical movement would be. Just like these, moving sidewalks and escalators are even more common use, especially in shopping malls, airports, and mass transit. They make flow and access better through increased comfortability in traversability in all directions, both horizontally and vertically.

• The traction segment is expected to dominate the Australia elevator and escalator market during the forecast period.       

Based on the elevator technology, the Australia elevator and escalator market is divided into traction, machine room-less traction, and hydraulic. Among these, the traction segment is expected to dominate the Australia elevator and escalator market during the forecast period. The preferred elevator for most high-rise structures remains the traction elevator, simply because of its high speed and efficiency.

• The modernization segment is expected to dominate the Australia elevator and escalator market during the forecast period.       

Based on the service, the Australia elevator and escalator market is divided into modernization, maintenance and repair, and new installation. Among these, the modernization segment is expected to dominate the Australia elevator and escalator market during the forecast period. The service sector is part of modernization, upkeep and repair, and new installations and is an integral part of the Australian elevator and escalator market. Modernizing or revamping more seasoned lifts and elevators is the cycle through which they are refreshed to adjust to refreshed details and fulfill security guidelines and enhancements in innovation. During the lifecycles of these frameworks, upkeep and fix administrations structure an imperative part of keeping up with steadfastness and security.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia elevator and escalator market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Otis Elevator Company Pty Ltd.
• KONE Elevators Pty Ltd.
• Schindler Lifts Australia Pty Ltd.
• ThyssenKrupp Elevator Australia Pty Ltd.
• Shotton Lifts Queensland Pty. Ltd.
• Orbitz Elevators Pty Ltd.
• Hitachi Australia Pty Ltd.
• IFE Elevators (Australia) Pty Ltd.
• Brilliant Lifts Australia Pty Ltd.
• Fuji Elevators Australia Pty. Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia elevator and escalator market based on the below-mentioned segments:

Australia Elevator and Escalator Market, By Type

• Elevators
• Escalators
• Moving walkways

Australia Elevator and Escalator Market, By Elevator Technology

• Traction
• Machine Room-Less Traction
• Hydraulic

Australia Elevator and Escalator Market, By Service

• Modernization
• Maintenance and Repair
• New Installation