North American smart elevators market is estimated to grow significantly at a CAGR of 14.2% during the forecast period. North America is projected to be the most opportunistic region in the global smart elevators market during the forecast period. This is due to the increasing development of eco-friendly construction activities and the government initiates in the development of smart city projects. The US is home to the number of MNCs; owing to which, there is a huge population base of wealthy people from across the globe. This rises the need for the construction of high-rise buildings and skyscrapers in the country. According to CTBUH, around 1,579 skyscrapers are present in New York City, US, which estimated the largest number of skyscrapers across the globe. Now, as the US adopts the advanced technologies at the first chance; therefore, the country is expected to propel the demand for smart elevators in recent years.
The market for smart elevators in the US has several driving factors, which includes the keen focus of the country towards the deployment of advanced infrastructure, demand for energy-efficient solutions and intelligent buildings and the presence of major market players such as Otis Elevator Co., Johnson Controls Inc., and Motion Control Engineering, Inc., among others. Canada’s construction sector is moving at a solid pace and is recognized for its one of the largest markets for residential, commercial, and infrastructure development. The Construction Sector Council stated that Canada requires around 320,000 new construction workers between 2017 and 2020, owing to a peak in construction research projects across the country.
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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
North American Smart Elevators Market by Type
- Passenger
- Freight
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North American Smart Elevators Market by Application
- Residential
- Commercial
- Industrial
- Others
Regional Analysis
- United States
- Canada
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.
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