The Sale of Japan Elevator and Escalator Market to Hit 31k Units by 2028. Construction of Logistics Center at Ports is Projected to Increase Demand for Freight Elevators – Arizton

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Japan Elevator and Escalator market was valued at 24k units in 2021 and is expected to reach 31k units by 2028.

Chicago, July 05, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the Japan elevator and escalator market is expected to grow at a CAGR of 3.6% from 2022 to 2028. The growing demand for urban transportation and governmental efforts to boost tourism and expand transportation infrastructure will propel rail and metro construction across the country, which will push demand for new installation of elevators and escalators.

Freight elevators are quite large and have a wide range of applications for transportation of goods, including industrial truck loading, and car transport. Therefore, growing need for safer mode of freight transportation is likely to drive the demand for this segment. In addition, freight lifts have high weight load capacities, and they offer structural support to transport heavy loads without human error.

Japan Elevator and Escalator Market Report Scope

Report Attributes

Details

Market Size by New Installations (2028)

31,449 Units

Market Size by New Installations (2021)

24,536 Units

CAGR (2022-2028)

3.6%

 

Market Size by Installed Base (2028)

83131 Units

Market Size by Modernization (2028)

$1.1 Billion

Base Year

2021

 

Forecast Year

2022-2028

Market Segmentation by Carraige Type

Passenger and Freight

Market Segmentation by Capacity

2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above

Market Segmentation by End-User

Commercial, Residential, Industrial, and Others

Market Segmentation by Type

Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others

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The elevator market in Japan is expected to witness rapid growth during the forecast period, owing to development projects such as Redevelopment of Shibuya and ‘Redevelopment Tokyo’.

The anticipated building projects for the World Expo 2025 in Osaka and the construction of the Chuo Shinkansen maglev line have boosted the importance of infrastructure maintenance and urban redevelopment in the construction sector throughout the projection period.

Government’s Smart City Initiative to Boost Demand for Elevators

Having an elevator installed in residential areas offers convenience and luxury. Home elevators have a variety of appealing features such as safety, emergency light, alarm, slack chain, battery backup, hoistway and door interlocks, emergency stop switch, upper landing hatch cover with safety sensors and more that can be pitched to potential buyers as benefits. Toyota is developing a 175-acre smart city near Mount Fuji in Japan, which is about 62 miles away from Tokyo. This future city will serve as a test bed for technologies such as robotics and AI.

Market Segmentation
Machine Type

  • Hydraulic and Pneumatic

  • Machine Room Traction

  • Machine Room Less Traction

  • Others

Carriage Type

  • Passenger

  • Freight

Capacity

  • 2-15 Persons

  • 16-24 Persons

  • 25-33 Persons

  • 34 Persons and Above

End-User

  • Commercial

  • Residential

  • Industrial

  • Others

Growth in Skyscrapers to Drive Demand for New Elevators

The growth of high-rise construction or skyscraper infrastructure led to innovations by the OEMs, from carbon-fiber cables to magnetic systems. These innovations allow elevators to move sideways and introduce new options for big building designs. Japan plans to build a 1,148 feet tall, supertall wooden skyscraper in Tokyo, and it is expected to be completed by 2041.

Fujitec received an order for 44 escalators and 68 elevators in Tokyo for the development of Toronamon-Azabudai, a skyscraper complex, which is currently under construction. Fujitec’s double-deck elevator, which has two cars attached in a vertical alignment will be included in this project. This project began in 2019, and it is projected to be completed in 2023.

Recent Upcoming Projects

  • Traction elevators are used in buildings that are over 60 feet tall, including the world’s most iconic skyscrapers. Since traction elevators use a counterweight to offset the weight of the cab and occupants, the motor does not have to move as much weight, which makes traction elevators more efficient than hydraulic elevators.

  • Traction elevators are energy-efficient, and they provide smoother and quieter rides for passengers. In addition, most modern elevators are typically gearless traction, which is the most energy-and-space-efficient solutions available, thereby driving the growth of this segment.

  • Supertall skyscraper developments are underway in Japan. The construction of the Toranomon-Azabudai District Main Tower (325.2 m), Toranomon Hills Station Tower (265 m), Toranomon-Azabudai District West Tower (262.8 m) are under progress. As a result, demand for traction elevators is expected to rise as more skyscrapers are constructed.

Key Vendors

  • Mitsubishi Electric

  • Toshiba

  • Hitachi

  • Otis

  • Fujitec

  • Schindler

  • KONE

  • TK Elevator

  • Hyundai Elevator

  • KÖHLER

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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CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040            +1 302 469 0707


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