Articles
Companies

Home / ANALYSIS / Change in elevation

Change in elevation

by Nikhil Pereira on Sep 11, 2017


The smart elevator market is expected to grow to $26.69bn by 2022, according to a report.
The smart elevator market is expected to grow to $26.69bn by 2022, according to a report.

Global research firm Markets and Markets says the elevator, escalator and mechanised walkway market is estimated to be worth $125bn by 2021.

This includes new installations, repair and maintenance and modernisation of existing systems. 

The world’s cities are growing at a rapid pace, which makes the need for elevators and escalators all the more important. The market for smart and adaptable technologies is the need of the hour. 

Sure, the requirement to reduce installation footprint and safety in design is high on every procurer’s agenda. But true innovation in indoor mechanised transport hasn’t been seen almost since the innovation of the elevator in the mid-nineteenth century. That is until recently when elevator manufacturers have been pushing the boundaries of incorporating new technologies to their offerings.

This shines a light on the smart elevator market as the cumalative worth of the sub-sector is expected to rise from $9.54bn in 2015 to $26.69bn by 2022, at a CAGR 15.6% between 2015 and 2022. This includes (control system, maintenance system, communication system) new installation, modernisation, maintenance and application.

The aforementioned market report also says that the trend towards adopting energy-efficient systems is the key driver for smart elevators. Therefore, the shift from traditional hydraulic to smart elevators that save time and consume less energy is the key driver for the market.

Thyssenkrupp claims to have created what it calls a ‘break-through’ in elevator technology since its very inception. Its latest innovation — the Multi elevator — is set to be the first elevator system that’s capable of moving horizontally, along with the traditional vertical travel rail elevators are known for. The elevator capsule will thus be able to rotate its pivot holding access point to make the lateral move. This will lead to high-rise building designs being completely re-imagined, Thyssenkrupp says.

Smart elevators are also adopting destination despatching technology — which can either be installed as new or retrofitted on to existing elevators. In this system, passengers key the floor number on digital touch screens before entering the elevator cab. The technology has been around since the 1990s, growing in popularity in the US and North America.

Regionally, only a handful of high-rise buildings make use of this technology, but the trend is slowly catching on — among residential and commercial high rises alike. The Shatha Tower in Dubai Media City and a handful of residential towers in Dubai Marina make use of destination despatching — however the potential for widespread use is immense.



Advertisement




Articles
Companies