Indonesia Elevator & Escalator Market: Dynamics, Key Players, and Industry Projections till 2028 by TechSci Research

Written by Kumar Satyam  »  Updated on: May 07th, 2024

Indonesia Elevator & Escalator Market: Dynamics, Key Players, and Industry Projections till 2028 by TechSci Research


The Indonesia Elevator & Escalator Market is on the brink of significant growth, fueled by ambitious infrastructure projects and technological advancements. According to the TechSci Research report titled “Indonesia Elevator & Escalator Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, the market is poised to witness substantial expansion in the coming years. This report aims to provide a comprehensive analysis of the market dynamics, recent trends, drivers, and competitive landscape shaping the Indonesia Elevator & Escalator Market.

Indonesia Elevator & Escalator Market has valued at USD 0.43 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.8% through 2028.

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Recent Trends and Drivers

In recent years, the Indonesia Elevator & Escalator Market has been influenced by several trends and drivers that are reshaping the industry landscape. One notable trend is the surge in infrastructure development projects, including the construction of Nusantara, Indonesia's new capital. Spanning over a vast government zone, Nusantara will host numerous residential building towers to accommodate ministries, the State Palace, the House of Representatives, and housing for civil servants and residents. This mega-project, with an investment of USD 32 billion, is expected to boost the demand for elevators and escalators significantly.

Additionally, projects like Lido City, a tourism special economic zone developed by MNC with an investment of USD 2 billion, are contributing to market growth. Lido City's amenities, including a movie production complex, golf course, hotel, resort, and music and arts center, are expected to attract millions of visitors annually. The influx of tourists and the development of high-rise buildings in such projects are driving the demand for elevators and escalators.

Technological advancements also play a pivotal role in market growth. The introduction of UltraRope technology, offering unparalleled eco-efficiency, dependability, and longevity in elevators, has revolutionized the industry. UltraRope addresses traditional steel rope issues, such as excessive energy consumption, rope stretch, and building sway-related downtime. With the rising number of high-rise buildings, the demand for UltraRope technology is escalating, prompting companies to integrate it into their new launches.

Benefits of the Research Report

The TechSci Research report offers numerous benefits to stakeholders in the Indonesia Elevator & Escalator Market:

1. Comprehensive analysis of market trends, drivers, and challenges.

2. Detailed examination of key market segments, including Elevators and Escalators.

3. Forecasting of market growth and revenue projections.

4. Identification of emerging opportunities and threats.

5. Strategic insights for market participants to capitalize on market trends.

6. Assessment of competitive landscape and key player strategies.

7. Evaluation of regional dynamics and market potential.

8. Insights into consumer preferences and purchasing behavior.

9. Analysis of regulatory frameworks and their impact on market dynamics.

10. Actionable recommendations for stakeholders to formulate effective strategies.

Competitive Analysis

The Indonesia Elevator & Escalator Market is characterized by intense competition among major players. Some of the key companies operating in the market include:

1. KONE Corporation

2. Hitachi Group

3. Otis Elevator Company (UTC)

4. Mitsubishi Electric Corporation

5. Schindler Holding Ltd.

6. Fujitec Company Limited

7. thyssenkrupp AG

8. Toshiba Elevator and Building Systems Corporation

These companies compete on various factors such as product quality, innovation, pricing, and distribution networks. Strategic initiatives such as mergers, acquisitions, and partnerships play a crucial role in maintaining market leadership and expanding market presence.

The Indonesia Elevator & Escalator Market presents lucrative opportunities for growth, driven by infrastructure development projects, technological advancements, and increasing urbanization. The TechSci Research report offers valuable insights into these trends, helping stakeholders make informed decisions and capitalize on emerging opportunities. As competition intensifies and market dynamics evolve, strategic agility and innovation will be essential for success in this dynamic market landscape.

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“Indonesia elevator & escalator market was valued USD 0.30 Billion in 2019 and is expected to be valued USD 0.43 Billion, in term of valueby 2025. Key factors propelling the growth of Indonesia elevator & escalator market are rapid infrastructural development, increased inflow of FDI funding in construction sector and construction of high-rise residential complexes in order to accommodate the growing population of the country. Apart from that, decline in import taxes and free trade agreements with other Southeast Asian countries are also providing profitable opportunities for elevator & escalator manufacturers operating in Indonesia. Additionally, Indonesia is currently has more than 300 active large-scale construction projects which are creating high demand for elevators and escalators. Along with that, growth in real estate sector and development of new airports and railroads are some other major factors boosting the growth of Indonesia elevator & escalator market.

Indonesia elevator & escalator market can be segmented based on type, service, elevator technology, elevator door, end user and region. Based on service, the market can be categorized into maintenance & repair, new installation and modernization. Among them, in 2019, modernization and maintenance & repair segment together accounted for 63.11% market share in terms of value. The segment is further expected to dominate the market through 2025 on account of growing focus of government on restoration and renovation of old buildings in the country. Based on end user, Indonesia elevator & escalator market is split into residential, commercial, institutional, infrastructural and others. Among them, the residential sector is expected to dominate the market during the forecast period owing to rising development of high-rise residential buildings in the country as well as favourable government policies such as introduction of One Million Houses (OMH) programme per year. Major companies operating in Indonesia elevator & escalator market include KONE Corporation, Hitachi Group, Otis Elevator Company (UTC), Mitsubishi Electric Corporation, Schindler Holding Ltd., Hyundai Elevator, thyssenkrupp AG and Toshiba Elevator and Building. Systems Corporation, among others. Furthermore, leading companies are investing on latest technology in order to introduce new and advanced products in the country. They are also undergoing inorganic growth strategies such as mergers & acquisitions, collaborations partnerships and new product launches in order to strengthen their position in Indonesia elevator & escalator market” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Indonesia Elevator & Escalator Market Segmented By Type (Elevator, Escalator & Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By End User Industry (Residential, Commercial, Institutional, Infrastructural & Others), By Elevator Technology (Traction, Hydraulic & Machine room-Less traction), By Elevator Door Type (Automatic and Manual), By Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Indonesia Elevator & Escalator Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Telehealth Market.

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