Overview of the Global Market for Lifts, Elevators, Moving Stairways and Draglines

Market Size for Lifts, Elevators, Moving Stairways and Draglines

The global market for lifts, elevators, moving stairways and draglines rose notably to $X in 2022, with an increase of 12% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Lifts, Elevators, Moving Stairways and Draglines

In value terms, lift, elevator, stairway and dragline production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 9.1% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, global production growth failed to regain momentum.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports

In 2022, overseas shipments of lifts, elevators, moving stairways and draglines increased by 17% to X units, rising for the sixth consecutive year after two years of decline. Overall, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.3% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 17%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, lift, elevator, stairway and dragline exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 12%. The global exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, India (X units), distantly followed by China (X units), Canada (X units), Germany (X units), Spain (X units) and Italy (X units) were the largest exporters of lifts, elevators, moving stairways and draglines, together constituting 73% of total exports. The Netherlands (X units), Slovakia (X units), the United States (X units), France (X units) and Brazil (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by India (with a CAGR of +28.8%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest lift, elevator, stairway and dragline supplier worldwide, comprising 25% of global exports. The second position in the ranking was held by Italy ($X), with a 9.3% share of global exports. It was followed by Spain, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.2%. In the other countries, the average annual rates were as follows: Italy (+1.1% per year) and Spain (+3.2% per year).

Export Prices by Country

The average export price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, which is down by -12.3% against the previous year. In general, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by 4.8%. The global export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.5%), while the other global leaders experienced a decline in the export price figures.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports

In 2022, approx. X units of lifts, elevators, moving stairways and draglines were imported worldwide; almost unchanged from 2021 figures. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.0% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 30% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of global imports failed to regain momentum.

In value terms, lift, elevator, stairway and dragline imports stood at $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 8.2% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X units) and Canada (X units) represented roughly 37% of total imports in 2022. It was distantly followed by India (X units) and Singapore (X units), together committing a 14% share of total imports. The following importers - Russia (X units), the UK (X units), the United Arab Emirates (X units), Australia (X units), Switzerland (X units), Qatar (X units), Malaysia (X units), Thailand (X units) and the Netherlands (X units) - each reached a 17% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +19.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest lift, elevator, stairway and dragline importing markets worldwide were the United States ($X), the UK ($X) and Russia ($X), with a combined 16% share of global imports.

The United States, with a CAGR of +6.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, increasing by 5.1% against the previous year. In general, the import price, however, showed a perceptible curtailment. Global import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+1.6%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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