Elevator & Escalator Market to surpass valuation of US$ 66.3 Bn by 2031

Innovative measures, such as contact-free operation of lifts via smartphone apps and elevator air purifiers are helping companies in the elevator & escalator market emerge strong during the coronavirus outbreak. Lift majors Kone and Johnson are rolling out safety measures such as remote calling of elevators using WhatsApp to prevent the spread of the COVID-19 virus.

The restricted movement of people in public places has slowed down sales and repair business of elevators. Hence, companies in the elevator & escalator market are introducing people flow solutions that are being used at metro stations and in residential buildings. These solutions include elevator remote calling feature using WhatsApp, which omits the need to touch contaminated buttons and displays.

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Pros, Cons of Hydraulic Elevators and Its Significance in China

High security, extraordinary shaft utilization, and low civil engineering requirements are some of the advantages of hydraulic elevators. However, in several cases, motor noise, hydraulic oil leak, and high installation costs are hampering the sales of hydraulic elevators. As such, the prevention of over-speeding and loss of control are contributing to the popularity of hydraulic elevators. These elevators do not require a machine room and the foundation pit can also be very shallow.

Low requirements of civil construction for hydraulic elevators are grabbing the attention of users in China. However, these elevators are not preferred in high-rise buildings in China, owing to high population density. As such, it is necessary to have high skills and experience in installation workers to establish hydraulic elevators.

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Traction Elevators versus Pneumatic Elevators: Which is Better?

New trends in elevators and escalators, such as smart lifts, traction elevators, and pneumatic elevators are creating value grab opportunities for manufacturers. Traction lifts are found to travel faster than hydraulic lifts, and can be used in both high-rise and mid-rise buildings. Hence, companies in the elevator & escalator market are pushing the sales of traction elevators in high-rise buildings of China, owing to high population density.

Pneumatic elevators, on the other hand, are being highly publicized, since they use vacuum and a valve to move the elevator car upward and air to move it. Manufacturers in the elevator & escalator market are targeting pneumatic lifts for places where there is a limited passenger footfall. These lifts are being designed in wheel-chair accessible mode.

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