Summary

Malaysia Elevators & Escalators Market stood at USD411.94 million in 2020 and is projected to grow at a CAGR of 5.44% by 2026. Increase in number of smart cities and emphasis on enhanced safety features, technological developments by major industry players and new technology of elevators using energy-saving regenerative drives are the primary factors contributing to the growth of the Malaysia Elevators & Escalators market.

Growth in the market is also dependent on account of the renovation of existing buildings and infrastructure spaces, green and advanced elevators coupled with the installation of elevators in transit systems (airports and railways). All the major players operating in the elevator & escalator market in Malaysia are increasing their product portfolio by offering better safety and reliability through digitization and incorporating intelligent systems, and companies are investing in the development of safer technologies for new products. Various government schemes have been carried out to increase urbanization which is expected to increase the demand for elevators & escalators in the country.

Based on elevator technology, the market is segmented into Traction, Hydraulic and Machine Room-Less Traction. Traction & Machine Room-Less (MRL) Traction machinery segment dominates the Malaysia elevators & escalators market, accounting for a cumulative share of 90.32% in 2020. This is due to the increasing environmental issues related with hydraulic machine elevators. Additionally, increasing construction activities of high-rise residential buildings and new commercial spaces require a faster mode of vertical transportation.

Based on region, in 2020, the Central Region (West Malaysia) accounted for the largest share of 34.90% in the Malaysia Elevators & Escalators market, owing to the increasing investment in the construction sector and increasing urbanization in Selangor and Kuala Lumpur. Modernization, industrialization, and urbanization in infrastructure projects and rising demand for green elevators are the key drivers for the growth of the elevators & escalators market in the central region. Growth is also expected on account of the renovation of existing buildings and infrastructure spaces, so that they can be changed or replaced partially, ease of commuting for old age and disabled population and upgrading of old elevators to modern ones is expected to increase the demand for Malaysia Elevators & Escalators in the forecast period.

Some of the major players operating in the Malaysia Elevators & Escalators Market include KONE Elevator (M) Sdn. Bhd, Antah Schindler Sdn. Bhd., Hitachi Elevator Engineering (Malaysia) Sdn. Bhd., Mitsubishi Elevator Malaysia Sdn Bhd, Otis Elevator Company Sdn. Bhd., Tk Elevator Malaysia Sdn. Bhd., MS Elevators Engineering Sdn. Bhd., Hyundai Elevator Malaysia Sdn Bhd., and Fujitec (Malaysia) Sdn Bhd.
Years Considered for this Report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
• To analyze the historical growth in market size of Malaysia Elevators & Escalators Market from 2016 to 2020.
• To estimate and forecast the market size of Malaysia Elevators & Escalators Market from 2021 to 2026 and growth rate until 2026.
• To understand the regional market structure of Malaysia Elevators & Escalators Market, which is segmented into four regions, namely – Central Region (West Malaysia), East Malaysia, Northern Region (West Malaysia) Eastern Region (West Malaysia) and Southern Region (West Malaysia).
• To identify the detailed information about the prime factors affecting the Malaysia Elevators & Escalators Market.
• To evaluate competitive pricing, average market selling prices and margins in the Malaysia Elevators & Escalators Market.
• To examine competitive developments such as new entrants, government policy and investments in Malaysia Elevators & Escalators Market.
• To strategically profile the leading players in the market which are involved in Malaysia Elevators & Escalators Market.
To analyze and forecast Malaysia Elevators & Escalators Market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at the source. A brief study of the major players operating in Malaysia Elevators & Escalators Market was also undertaken. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future of major players was studied and projects which have commissioned in the country were identified.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
• Elevator & escalator manufacturers/companies/partners
• Suppliers and distributors
• Government bodies such as regulating authorities and policy makers
• Organizations, industry associations, forums and alliances related to elevator & escalator market

• Market research and consulting firms.
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Malaysia Elevators & Escalators companies, customers, and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report Malaysia Elevators & Escalators Market has been segmented into the following categories in addition to the industry trends which have also been listed below:

• Malaysia Elevators & Escalators Market, By Type:
o Elevator
o Escalator
o Moving Walkways
• Malaysia Elevators & Escalators Market, By Service:
o Modernization
o Maintenance & Repair
o New Installation
• Malaysia Elevators & Escalators Market, By Elevator Technology:
o Traction
o Hydraulic
o Machine Room-Less Traction
• Malaysia Elevators & Escalators Market, By Elevator Door Type:
o Automatic
o Manual
• Malaysia Elevators & Escalators Market, By End User:
o Residential
o Commercial
o Institutional
o Infrastructural
o Others
• Malaysia Elevators & Escalators Market, By Region:
o Central Region (West Malaysia)
o East Malaysia
o Northern Region (West Malaysia)
o Eastern Region (West Malaysia)
o Southern Region (West Malaysia)

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Malaysia Elevators & Escalators Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).

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