Traction elevators are the most common types of elevators. The elevator car is pulled up by a rolling wire rope on a deep grooved pulley, commonly referred to as an industrial pulley. The traction elevators are commonly used in commercial and residential buildings. Currently, the traction elevators are utilizing flat steel belts rather than conventional steel ropes. Flat steel belts are very lightweight and because of their carbon fibre core and high-friction coating, these can function without oil/lubricant. Therefore, elevator energy consumption among high-rise buildings can be controlled considerably, which increases their adoption in the building.
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Top Players:
Delaware Elevator,, Delta,, ESCON,, Kone,, Oscan Elevators,, Otis Elevator Company,, Savaria,, Schumacher,, Schindler, Thyssenkrupp
Market Scope and Structure Analysis
Rise in the infrastructural projects of commercial buildings like offices and shopping complexes help drive the growth of traction elevators. The demand for energy consumption in high-rise buildings is another factor expected to enhance the adoption of traction elevators and thus influence the market growth. In addition, favourable government support in construction industry especially the residential sector is projected to experience growth and provide lucrative growth opportunities to the players operating in the traction elevators market.
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Segmentation Based On:
By Order Type –
Geared Traction Elevators
Gearless Traction Elevators
By Application –
Residential
Commercial
Top Impacting Factors
Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategies activities witnessed were acquisitions, and partnerships & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from traction elevators market are anticipated to lucrative growth opportunities in the future with the rise in demand for traction elevators in the global market.
Below mentioned is the list of few companies engaged in the traction elevators market. Rise in need for maintenance & modernization of elevators is another factor enabling the growth of the market. Elevators are maintained under full-service contract agreements due to high labor costs and short service cycle. Rise in concerns of aging infrastructure in North America and Europe are likely to drive the need for elevator services and modernization. However, the maintenance of elevators is influenced by factors including equipment base, regulatory landscape, and service costs across different countries.
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