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According to Arizton, 7.2 Million Units of New Elevators & Escalators are to be Installed in Indonesia by 2027
Chicago, April 12, 2022 (GLOBE NEWSWIRE) — Indonesia’s government plans to invest $710 million in hotel and restaurant projects by 2020. In addition, the need for elevators and escalators is being driven by infrastructure development such as cinema halls, shopping malls, airports, and department stores.
Indonesia Elevators & Escalators Market Report Scope
| REPORT ATTRIBUTES | DETAILS | |
| ELEVATORS & ESCALATORS MARKET SIZE BY NEW INSTALLED BASE (2021) | 5.1 Million Units | |
| ELEVATORS & ESCALATORS MARKET SIZE BY NEW INSTALLATION (2028) | 7.2 Million Units | |
| ELEVATORS & ESCALATORS MARKET SIZE BY INSTALLED BASE (2028) | 66.3 Million Units | |
| CAGR (2022-2028) | 5.01% | |
| ELEVATOR & ESCALATOR MARKET SIZE BY MORDERNIZATION (2028) | $12.5 Billion (2028) | |
| HISTORIC YEAR | 2019-2020 | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2028 | |
| MACHINE TYPE | Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others | |
| CARRAIGE TYPE | Passenger and Freight | |
| CAPACITY | Person (2-15, 16-24, 25-33, and 34 and above) | |
| END-USER | Commercial, Residential, Industrial and Others | |
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In 2017, the Indonesian government launched “100 Smart Cities Movement,” a digitalization initiative. For $149 million, Mitsubishi Electric added an urban development project to its smart city initiative near Jakarta, picturing residential and commercial zones developed on six hectares around a railway station.
In Indonesia, a series of breakdowns happened on a Hitachi elevator at Monumen Nasional (Monas), such incidents highlight the increasing demand for maintenance in elevators and escalators. The country is also focusing on boosting foreign arrivals to support its economic growth objectives, the country plans to build several new airports, which would fuel the market for moving walkways, escalators, and elevators.
Digitalization to Revolutionize the Elevators & Escalators Market in Indonesia
- In many locations around Indonesia, Internet-connected smart elevators are gaining traction. Smart elevators from companies such as Otis and Schindler can detect and foresee any issue immediately. Smart lifts have remote diagnostic and troubleshooting capabilities, which save lot of time and money.
- Many manufacturers have also created user-friendly elevator technologies to improve the commuting experience. Smart grouping and destination-based models with current aesthetics are examples of intuitive elevator systems. For instance, passengers going to the same destination are only assigned to elevators serving as those sets of floors or zones, which provides faster and more organized service.
- Green elevators aid in the reduction of energy consumption and the recovery of energy. The KONE destination signalization system, for example, uses artificial intelligence (AI) to manage elevator traffic.
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Key Offerings
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis product type, carriage type, persons, and end-users
- Competitive Landscape – 10 key vendors and 5 other prominent vendors
Recent Development
In December 2021, Amazon Web Services (AWS) and KONE have established partnership. KONE will benefit from AWS worldwide cloud capabilities, which include IoT and analytics. The firm will also collaborate to create new technologies which will improve KONE’s connected services and solutions.
The company has announced the development of a new tech solution that is designed to enable wheelchair users to navigate modern buildings more easily by connecting elevators and wheelchairs.
KONE has already received a business deal of 65 elevators and escalators, which in turn, is creating enormous growth opportunities for the company.
To know more about the report, click: https://www.arizton.com/market-reports/indonesia-elevator-and-escalator-market
Indonesia Elevators & Escalators Market Competitive Landscape
Key Vendors
- KONE
- Mitsubishi Electric
- Hitachi
- TK Elevator
- Hyundai Elevator
- Otis
- Fujitec
- Schindler
- KÖHLER Elevator GmbH
- CANNY Elevator Co., Ltd
Other Prominent Vendors
- Kunshan Hualong Elevator
- SJEC
- Suzhou Jiude Electrical & Mechanic Technology
- Shenyang Yuanda Intellectual Industry
- IFE Elevators
Explore our industrial machinery profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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