Elevator and escalator market size in 2017
In 2017, the global new equipment market was stable after declining for two consecutive years. The global service market continued to grow.
The figures below are based on KONE estimates. KONE estimates the market size annually in the first quarter of the year.
Markets characteristics by region
KONE operates in over 60 countries in Europe, Middle East and Africa (EMEA), Americas and Asia-Pacific. KONE doesn’t have own operations e.g. in South America, Japan or South Korea.
|KONE's market position*
||#1 in China, #2 in the rest of Asia-Pacific
Market dynamics in KONE’s business areas
Urbanization is the key growth driver of the new equipment market. The growing and aging installed base creates a need for maintenance and modernization. In addition to the core growth drivers, changing customer needs as well as new technologies offer new opportunities to create value for customers.
The new equipment market is quite consolidated with global OEMs (original equipment manufacturers) covering a large part of it. In services, the market is more fragmented.