Philippines Elevator Market to 2032
Overview
The Philippines Elevator Market is expected to reach a 1,335.57 USD Million by 2032 and is projected to grow at a CAGR of 7.03% from 2025 to 2032.
Revenue, 2024 (USD Million)
781.74
Forecast, 2032 (USD Million)
1,335.57
CAGR, 2024 - 2032
7.03%
Report Coverage
Philippines
Philippines Elevator Market 2018-2032 USD Million
Philippines Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 781.74 USD Million
- Projected Market Size (2032): 1,335.57 USD Million
- CAGR (2025-2032): 7.03%
Key Findings of Philippines Elevator Market
- The Philippines Elevator Market was valued at 781.74 USD Million in 2024.
- The Philippines Elevator Market is likely to grow at a CAGR of 7.03% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Single Deck in Deck Segment accounted for the largest share of the market with a revenue of 566.01 USD Million
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 8.37% during the forecast period from 2024 to 2032.
Philippines Elevator Market Scope
Philippines Elevator Market Segmentation & Scope
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
End Use
- Industrial
- Residential
- Commercial
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
Speed
- 5.0 mps (or more)
- 3.5 - 4.0 mps
- 2.5 - 3.0 mps
- 1.5 - 2.0 mps
- 1.0 mps (or less)
Component
- Services
- Hardware
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Destination Control
- Smart
- Conventional
Philippines Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 781.74 USD Million |
| Market Value in 2032 | 1,335.57 USD Million |
| CAGR (2025-2032) | 7.03% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Type,End Use,Door Type,Speed,Component ,Deck ,Capacity,Mechanism,Elevation,Destination Control |
Regional Insights:
-
Leading Market (2024-2032): Philippines, leading in terms of revenue 781.74 USD Million in 2024
- Key Country: Philippines, leading in terms of revenue with value of 781.74 USD Million in 2024.
Segments and Scope
-
Philippines Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in Philippines Elevator Market to 2032 with a revenue of 411.58 USD Million in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.10 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By End Use
- Commercial is the largest segment in Philippines Elevator Market to 2032 with a revenue of 400.69 USD Million in the year 2024.
- Commercial is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.24 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in Philippines Elevator Market to 2032 with a revenue of 332.10 USD Million in the year 2024.
- Automatic Door is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.74 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in Philippines Elevator Market to 2032 with a revenue of 362.46 USD Million in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.46 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Component
- Hardware is the largest segment in Philippines Elevator Market to 2032 with a revenue of 516.05 USD Million in the year 2024.
- Hardware is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.10 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Deck
- Single Deck is the largest segment in Philippines Elevator Market to 2032 with a revenue of 566.01 USD Million in the year 2024.
- Single Deck is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.08 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in Philippines Elevator Market to 2032 with a revenue of 252.61 USD Million in the year 2024.
- 630kg (or less) is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 8.37 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in Philippines Elevator Market to 2032 with a revenue of 293.20 USD Million in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.85 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in Philippines Elevator Market to 2032 with a revenue of 387.97 USD Million in the year 2024.
- Low Rise Elevators is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.28 % in forecast period 2025-2032.
-
Philippines Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in Philippines Elevator Market to 2032 with a revenue of 444.22 USD Million in the year 2024.
- Conventional is the Fastest growing segment in Philippines Elevator Market to 2032 with a Growth rate of 7.13 % in forecast period 2025-2032.
Philippines Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
Philippines Elevator Market Geographical Sales Distribution, 2018-2032 USD Million
Philippines Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Philippines Elevator Market is segmented based on Segmentation Type,End Use,Door Type,Speed,Component ,Deck ,Capacity,Mechanism,Elevation,Destination Control.
Philippines Elevator Market was valued at USD 781.74(Revenue in USD Million) in 2024.
Philippines Elevator Market is projected to grow at a CAGR of 7.03% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the Philippines Elevator Market, holding a largest market share of 566.01 USD Million in 2024
Philippines Elevator Market Scope
Philippines Elevator Market Segmentation & Scope
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
End Use
- Industrial
- Residential
- Commercial
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
Speed
- 5.0 mps (or more)
- 3.5 - 4.0 mps
- 2.5 - 3.0 mps
- 1.5 - 2.0 mps
- 1.0 mps (or less)
Component
- Services
- Hardware
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Destination Control
- Smart
- Conventional
Frequently Asked Questions
The Philippines Elevator Market is segmented based on Segmentation Type,End Use,Door Type,Speed,Component ,Deck ,Capacity,Mechanism,Elevation,Destination Control.
Philippines Elevator Market was valued at USD 781.74(Revenue in USD Million) in 2024.
Philippines Elevator Market is projected to grow at a CAGR of 7.03% during the forecast period of 2024 to 2032.
The estimated market value of the Philippines Elevator Market for final year is USD 1,335.57 (USD Million).
Philippines Elevator Market Company Profiling
Frequently Asked Questions
The Philippines Elevator Market is segmented based on Segmentation Type,End Use,Door Type,Speed,Component ,Deck ,Capacity,Mechanism,Elevation,Destination Control.
Philippines Elevator Market was valued at USD 781.74(Revenue in USD Million) in 2024.
Philippines Elevator Market is projected to grow at a CAGR of 7.03% during the forecast period of 2024 to 2032.
The estimated market value of the Philippines Elevator Market for final year is USD 1,335.57 (USD Million).
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