Africa Elevators Market Research Report 2023-2030.
The Africa Elevators Market report provides a comprehensive analysis of the elevator industry across the African continent. The report covers market size, forecasts, key market drivers, restraints, regional growth patterns, and recent industry developments.

Market Size & Forecast:
In 2023, the Africa Elevators Market was valued at expected to grow at a CAGR of 6.5%, USD 76.12 BN in 2021 and is expected to expand to USD 201.25  BN in 2030 during the forecast period 2023- 2030.Driven by rapid urbanization, infrastructure development, and increasing demand for modernization and maintenance of existing buildings.

Market Drivers:
•    Rapid Urbanization: The growing population in African cities is leading to increased demand for high-rise residential and commercial buildings, thereby boosting the elevator market.
•    Government Initiatives for Infrastructure Development: Various governments are investing heavily in infrastructure projects such as airports, railways, and smart cities, which is expected to fuel demand for elevators.
•    Technological Advancements: The introduction of energy-efficient elevators and smart elevator technologies is also driving market growth as companies aim to reduce operational costs and enhance user experience.
•    Growth in Construction Industry: The booming construction industry, especially in countries like South Africa, Nigeria, and Kenya, is contributing to increased installations of elevators in new commercial and residential buildings.

Market Restraints:
•    Economic Challenges: Fluctuations in local economies, high import duties, and currency depreciation in certain African nations could pose challenges to the market’s growth.
•    High Maintenance Costs: The elevated costs associated with elevator maintenance and modernization can be a significant restraint, especially for smaller companies and low-income housing projects.
 

Regional Growth:
•    South Africa: South Africa leads the market due to its well-developed construction sector and increased adoption of modern technologies in both the commercial and residential sectors.
•    Nigeria: With one of the fastest-growing populations and urbanization rates in Africa, Nigeria is expected to witness significant growth in the elevator market during the forecast period.
•    Kenya and Egypt: These countries are experiencing growing investments in infrastructure, which is likely to increase demand for elevators. The rise of smart city projects and airport expansions also contributes to market growth.
•    Other Regions: Countries such as Morocco, Ghana, and Ethiopia are also anticipated to see steady growth due to various infrastructure projects and growing urban population needs.

Key Players:

• • Schindler Group
  • Otis Elevator Company
  • KONE Corporation
  • Thyssenkrupp AG
  • Mitsubishi Electric Corporation
  • TK Elevator
  • Hitachi Elevator
  • Sigma Elevator (LG Group)
  • Hyundai Elevator
  • South African Elevator Company (Pty) Ltd.

Introduction 

Key Objectives of the Study

Application

• Residential
• Commercial
• Industrial

Type:

• Passenger Elevators
• Freight Elevators
• Residential Elevators
• Bucket Elevator
• Others

Deck Type:

• Single-Deck
• Double-Deck 

Component:

• Elevator Car and Shaft
• Landing Door
• Motor
• Machine Drive
• Tension Pulley
• Controller
• Counterweight Frame
• Guide Rails
• Car Guide Rail
• Others

 
Destination Control:

• Smart
• Conventional

Countries:

• Tanzania
• Nigeria
• Egypt
• Kenya
• South Africa
•  Algeria
• Others 

Recent Developments:
•    Technological Innovations: Key players in the African market are focusing on energy-efficient and smart elevator technologies, such as IoT-enabled systems and AI-based maintenance, to enhance user experience and reduce operational costs.
•    Mergers and Acquisitions: Several leading global companies have made strategic partnerships and acquisitions to enter the African market, aiming to expand their
footprint in the region. For instance, global elevator manufacturers have formed alliances with local distributors and service providers to strengthen their presence and offer localized solutions.
•    Sustainability Initiatives: Companies are increasingly focusing on eco-friendly elevator solutions, such as regenerative drives and energy-saving features, in line with Africa's growing emphasis on sustainability and green building standards.

This detailed report provides valuable insights into the current state and future prospects of the Africa Elevators Market, offering strategic guidance for stakeholders, manufacturers, and investors looking to tap into the region's growing demand for vertical transportation solutions.

Africa Elevators Market

1.    Introduction
a.    Objective of the Study
b.    Market definition
c.    Market Scope

2.    Executive Summary
3.    Africa Elevators Market Outlook
a.    Overview
b.    Market Dynamics
c.    Drivers
d.    Restraints
e.    Opportunities
f.    Porters Five Force Model
g.    Value Chain Analysis

4.    Africa Elevators Market, By Type
a.    Y-o-Y Growth Comparison, By Type
b.    Africa Elevators Market Share Analysis, By Type
c.    Africa Elevators Market Size and Forecast,

By Type

i.    Passenger Elevators
ii.    Freight Elevators
iii.    Residential Elevators
iv.    Bucket Elevator
v.    Others

5.    Africa Elevators Market, By Deck Type
a.    Y-o-Y Growth Comparison, By Deck Type
b.    Africa Elevators Market Share Analysis, By Deck Type
c.    Africa Elevators Market Size and Forecast, By Deck Type
i.    Single-Deck
ii.    Double-Deck

6.    Africa Elevators Market, By Application
a.    Y-o-Y Growth Comparison, By Application
b.    Africa Elevators Market Share Analysis, By Application
c.    Africa Elevators Market Size and Forecast, By Application
i.    Residential
ii.    Commercial
iii.    Industrial
7.    Africa Elevators Market, By Component
a.    Y-o-Y Growth Comparison, By Component
b.    Africa Elevators Market Share Analysis, By Component
c.    Africa Elevators Market Size and Forecast, By Component
i.    Elevator Car and Shaft
ii.    Landing Door
iii.    Motor
iv.    Machine Drive
v.    Tension Pulley
vi.    Controller
vii.    Counterweight Frame
viii.    Guide Rails
ix.    Car guide Rail
x.    Others

8.    Africa Elevators Market, By Destination Control
a.    Y-o-Y Growth Comparison, By Destination Control
b.    Africa Elevators Market Share Analysis, By Destination Control
c.    Africa Elevators Market Size and Forecast, By Destination Control
i.    Smart
ii.    Conventional

9.    Africa Elevators Market Analysis and Forecast (2024-2030)
a.    Introduction
b.    Africa Elevators Market Share Analysis, By Type
c.    Africa Elevators Market Size and Forecast, By Deck Type
d.    Africa Elevators Market Size and Forecast, By Component
e.    Africa Elevators Market Size and Forecast, By Destination Control
d.    Africa Elevators Market Size and Forecast, By Application
e.    Africa Elevators Market Size and Forecast, By Country
i.    Nigeria
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component
?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
ii.    Tanzania
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component
?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
iii.    Egypt
  
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component
?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
iv.    Kenya
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component
?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
v.    South Africa
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component
?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
vi.    Algeria
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component 

?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
vii.    Other African Countries
?    Market Size and Forecast, By Type
?    Market Size and Forecast, By Deck Type
?    Market Size and Forecast, By Component
?    Market Size and Forecast, By Destination Control
?    Market Size and Forecast, By Application
10.    Competition Analysis
a.    Competition Dashboard
b.    Market Share Analysis of Top Vendors
c.    Key Development Strategies
11.    Company Profiles
a.    Schindler Group
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
b.    Otis Elevator Company
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
c.    KONE Corporation
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
d.    Thyssenkrupp AG
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies

e.    Mitsubishi Electric Corporation
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
f.    TK Elevator
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
g.    Hitachi Elevator
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
h.    Sigma Elevator (LG Group)
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
i.    Hyundai Elevator
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
j.    South African Elevator Company (Pty) Ltd.
i.    Overview
ii.    Offerings
iii.    Key Financials
iv.    Business Segment & Geographic Overview
v.    Key Market Developments
vi.    Key Strategies
12.    Assumptions and Acronyms Used
13.    Research Methodology