According to Arizton’s latest research report, the Germany elevator and escalator market is growing at a CAGR of 3.32% during 2023-2029.
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Report Summary
Market Size by New Installations (2029): 28.3 Thousand Units
Market Size by New Installations (2023): 23.3 Thousand Units
CAGR – New Installations (2023-2029): 3.32%
Market Size by Installed Base (2029): 972.8 Thousand Units
Market Size by Modernization (2023): USD 321 Million
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
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In H1 2023, Germany’s construction sector faced substantial challenges, marked by a 47% decline in new construction compared to the average of the past two years. Home building saw an even steeper decrease of 54%, reflecting restrictive project development conditions, reduced transactions, and declining property prices. Due to the severity of these issues, the industry has sought multi-billion Euro government support, impacting significant cities like Frankfurt with delayed projects and reduced property development volumes, particularly in residential and hotel sectors. Financing difficulties further exacerbated the slowdown in real estate investments.
Conversely, the Germany elevator market showed signs of recovery post-COVID-19 in 2023, as data from KONE elevator starts in Berlin, Hamburg, and Munich indicated. Urban areas saw a 70%–114% recovery in elevator starts, with Berlin and Hamburg showing strong rebound in hospitality and tourism-related activities. Stricter safety regulations have been implemented since 2015 due to significant safety concerns in elevators, including cyber threats highlighted by TÜV Rheinland. The ongoing cyber risks underscore the importance of regular inspections and cybersecurity measures to ensure elevator system safety and reliability amidst increasing digital integration.
Recent Developments in the Germany Elevator and Escalator Market
Schmersal Group, headquartered in Wuppertal, Germany, has restructured its service division to capitalize on growing demand. Their safety services, managed by tec.nicum, will expand significantly, emphasizing digitalization and holistic machine safety solutions. This move seeks to improve global coordination and utilize combined expertise. Formed as a subsidiary on April 8, tec.nicum incorporates Omnicon Engineering GmbH, acquired by Schmersal in 2019, with its headquarters in Kirkel-Limbach, Saarland, Southwest Germany.
Meanwhile, Ziehl-Abegg, a German company specializing in electric elevator motors and other drive, ventilation, and control technology components, reported its most successful year in 2023. With a sales increase of approximately 9.5% to EUR 955 million (US$1 billion), the company achieved its best performance in history. Additionally, Ziehl-Abegg made significant investments to lay the foundation for sustainable global growth and structural realignment.
Renovation And Conversion Projects Will Boost the Demand for 25–33 Persons Elevators
Germany’s hospitality sector is experiencing significant growth, driven by a booming hotel construction industry and substantial investments. Despite ranking second to the UK in hotel construction projects in Q4 2023 across Europe, Germany remains a key player with 195 projects and 31,839 rooms in its pipeline. The sector is poised to expand further, with expectations of adding 364 properties and 57,926 rooms in the near future. This growth includes a notable increase in renovation and conversion projects, reflecting Germany’s strategic efforts to maximize existing infrastructure and adapt to evolving market needs. This will create massive demand for 25–33 person elevators.
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Key Vendors
KONE
Mitsubishi Electric
TK Elevator
Otis
Fujitec
Schindler
KÖHLER Elevator GmbH
Schmitt+Sohn Aufzuge
Stannah Lifts Holdings Ltd.
Cibes Lift Group
Toshiba Elevator and Building Systems Corporation
KLEEMANN
HIRO LIFT
Orona Elevators
AKE ELEVATOR
Lifton Home Elevators
Brobeil Aufzüge GmbH & Co. KG
Lift Reith GmbH & Co. KG
Lutz Aufzüge
Vestner Aufzüge GmbH
Elevator Market Segmentation by
Machine Type
Hydraulic and Pneumatic
Machine Room Traction
Machine Room Less Traction
Others
Climbing
Elevators
Industrial Elevators
Carriage Type
Passenger
Freight
Capacity
2-15 Persons
16-24 Persons
25-33 Persons
34 Persons and Above
End-User
Commercial
Residential
Industrial
Public Transit
Institutional
Infrastructural
Escalator Market Segmentation by
Product Type
Parallel
Multi Parallel
Walkway
Crisscross
Institutional Sector
Infrastructure
Key Questions Answered in the Report:
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