Vietnam Elevator Market
Vietnam Elevator Market Global Industry Assessment & Forecast
- By Product Elevator (Vertical), Escalator, Moving Walkway
- By Application Residential, Industrial Manufacturing, Others
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||530.21 Million|
|Revenue 2028:||682.69 Million|
|Revenue CAGR (2021 - 2028):||3.21|
|Fastest Growing Region (2022 - 2028)||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The global Vietnam Elevator market was valued at USD 530.21 Million in 2020 and is projected to reach USD 682.69 Million by 2028, growing at a CAGR of 3.21% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||682.69 Million|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||3.21%|
Overview and Description
Elevator, also called lift, car that moves in a vertical shaft to carry passengers or freight between the levels of a multistory building.
This report provides an analysis of the Vietnam Elevator market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Vietnam Elevator market. This data is likely to help the industry stakeholders and stimulate the decision-making process.
COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. The Vietnam Elevator market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
The rapid urbanization due to the increasing population along with rise in demand for high rise conformity is expected to fuel the growth of the Vietnam elevator market in the years to come.
Furthermore, the development of innovative technologies and rising demand for smart elevators along with changing demographic trends is likely to augment the growth of the market during the forecast period.
The high installation and maintenance costs is anticipated to hinder the growth of the Vietnam elevator market in the years to come.
Global Vietnam Elevator Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Product, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Schindler Vietnam, Thai Binh, Hitachi, HISA, Thien Nam, Kone, Mitsubishi Electric, Thyssen Krupp, Otis|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Product, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.
On the basis of Product, the market is divided into Elevator (Vertical), Escalator, Moving Walkway,. Elevator (Vertical) dominated the global Vietnam Elevator market in 2020 and is projected to witness the same trend during the forecast period.
Based on Application, the market is segmented into Residential, Industrial Manufacturing, Others,. Residential accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Vietnam Elevator Market: Product Segment Analysis
- Elevator (Vertical)
- Moving Walkway
Global Vietnam Elevator Market: Application Segment Analysis
- Industrial Manufacturing
Regional Analysis: Preview
Based on the geography, the global Vietnam Elevator market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.
The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028.
Market Size, 2021 (USD Billion)
Global Vietnam Elevator Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Vietnam Elevator market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Vietnam Elevator market are Schindler Vietnam, Thai Binh, Hitachi, HISA, Thien Nam, Kone, Mitsubishi Electric, Thyssen Krupp, Otis. This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players.
Global Vietnam Elevator Market: Key Highlights
- The global Vietnam Elevator market was valued at USD 530.21 Million in 2020
- The global Vietnam Elevator Market is projected to reach USD 682.69 Million by 2028
- North America held the highest share of the Vietnam Elevator market in 2020
- Some of the major companies operating in the Vietnam Elevator market are Schindler Vietnam, Thai Binh, Hitachi, HISA, Thien Nam, Kone, Mitsubishi Electric, Thyssen Krupp, Otis
Frequently Asked Question
What is the global demand for Vietnam Elevator in terms of revenue?
The global Vietnam Elevator valued at 530.21 Million in 2020 and is expected to reach 682.69 Million in 2028 growing at a CAGR of 3.21%.
Which are the prominent players in the market?
The prominent players in the market are Schindler Vietnam, Thai Binh, Hitachi, HISA, Thien Nam, Kone, Mitsubishi Electric, Thyssen Krupp, Otis.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 3.21% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
The driving factors of the Vietnam Elevator include
- The rapid urbanization due to the increasing population along with rise in demand for high rise conformity is expected to fuel the growth of the Vietnam elevator market in the years to come.
- Furthermore, the development of innovative technologies and rising demand for smart elevators along with changing demographic trends is likely to augment the growth of the market during the forecast period.
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Vietnam Elevator in 2020.