ELEVATOR CONTROL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2022 to 2030)

Elevator Control systems are the devices that control the functions and services of an elevator. An elevator control system includes a power circuit for the lifting motor, an accumulator, and a pump that pushes pressurized fluid from a tank toward the cylinder. The motor brake is a part of the control system as well. A programmable Logic Controller (PLC) is used to operate the control system. The PLC can be configured to manage the number of stops or to handle multiple cars at once.

An elevator control system may be connected to a computer or to the Internet. This allows data from the system to be shared with the Cloud. The system also recognizes the face of the passenger and can provide information about the destination floor. The system can also be configured to provide a visual display to the user. It may also provide a keypad console and other components.

Market Dynamics:

The increasing investment in allied industries is boosting the growth of the elevator control market. Moreover, the increasing urbanization trend is fueling the demand for multi-story buildings. This will lead to the increase in the number of apartments and office spaces. Developing countries are expected to make significant investments in building infrastructure. This is driving the development of elevator control systems. In the near future, touchless elevators may offer new opportunities. This will help reduce the waiting time for passengers, especially in crowded buildings.

However, the economic slowdown and increasing casualties related to elevators and escalators might hinder growth of the global elevator control market.

Key features of the study:

• This report provides in-depth analysis of the global elevator control market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global elevator control market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include SICK AG, Hitachi Ltd., Honeywell International Inc., Hyundai Elevator Co. Ltd., Nidec MCE, Toshiba Elevators and Building Systems, Thames Valley Controls, and Mitsubishi Electric.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global elevator control market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global elevator control market

Detailed Segmentation:

• Global Elevator Control Market, By Application
  • Residential
  • Commercial
• Global Elevator Control Market, By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Company Profiles:
  • Hitachi Ltd
  • Hyundai Elevator Co. Ltd
  • Toshiba Elevators and Building Systems
  • Mitsubishi Electric
  • Thames Valley Controls
  • Nidec MCE
  • Honeywell International Inc.
  • SICK AG