Asia-Pacific smart elevators market is estimated to grow significantly, at a CAGR of 14.7% during the forecast period. Asia-Pacific smart elevators market occupied a major share in the global smart elevators market, owing to the rising installations of smart elevators across commercial and residential buildings coupled with the skyscraper projects in the region. Some of the major skyscraper buildings undergoing in China include Goldin Finance 117, Greenland Centre (Xi’an), and Wuhan Greenland Center (Wuhan). This is primarily driving the demand for smart elevators in skyscrapers in the country.
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Smart elevators are operated by the user that pushes a button and set their destination. Afterwards, an indicator directs the user to the elevator that will take them to the floor in the shortest amount of time. Therefore, smart elevators have a crucial role in skyscrapers. Rising smart city projects are further strengthening the growth of the market in the region. As per the German Asia-Pacific Business Association, the Chinese government is pushing the development of smart cities counting nearly 500 pilot projects. Smart cities have buildings with many floors, which contributes to the demand for smart elevators to offer convenience to the users, primarily the elderly population.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Asia-Pacific Smart Elevators Market by Type
- Passenger
- Freight
Asia-Pacific Smart Elevators Market by Application
- Residential
- Commercial
- Industrial
- Others
Regional Analysis
- China
- Japan
- India
- Rest of Asia-Pacific
Company Profiles
- Bosch Security Solutions GmbH
- Fujitec Co., Ltd.
- Hitachi Ltd.
- Honeywell International Inc.
- Hyundai Elevator Co. Ltd.
- Johnson Controls Inc.
- Kleemann Hellas SA
- KONE Corp.
- Mitsubishi Electric Corp.
- OTIS Elevator Corp. (A United Technologies Co.)
- Schindler Holding AG
- ThyssenKrupp Elevator AG
- Toshiba Elevators and Building Systems Corp.
The Report Covers
- Comprehensive research methodology of the Asia-Pacific smart elevators market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Asia-Pacific smart elevators market.
- Insights about market determinants which are stimulating the Asia-Pacific smart elevators market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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