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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.

Market 2017

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.


EMEA
Americas
Asia-Pacific
Market characteristics
  • Largest installed base globally
  • A mix of more mature markets and developing regions; Europe the largest market in the area
  • Residential is the largest market segment
  • The aging elevator base in Europe provides structural growth potential in modernization
  • A key service market aside Europe
  • Non-residential segments comprise the majority of market volumes
  • The aging installed base provides structural growth potential in modernization
  • Majority of new equipment volumes
  • A mix of developing and more mature markets
  • China is the largest new equipment market globally and India the second largest
  • Residential is the largest segment
  • Strongly growing service opportunity
Competitive landscape
  • Less consolidated than the Americas, more consolidated than China
  • Top 4 global players hold a large part of the market, but there are also many smaller competitors
  • The most consolidated market in both new equipment and in maintenance, top 4 global players hold a significant part of the market
  • A less consolidated market with several international and local competitors
  • In maintenance, very fragmented market in China
KONE's market position*



New equipment
#2
#4
#1
Maintenance
#3
#4
#1 in China, #2 in the rest of Asia-Pacific

*In 2017


See current market outlooks

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.

Image_Market dynamics