Singapore Elevator Market to 2032
Overview
The Singapore Elevator Market is expected to reach a 1,396.78 USD Million by 2032 and is projected to grow at a CAGR of 7.14% from 2025 to 2032.
Revenue, 2024 (USD Million)
810.96
Forecast, 2032 (USD Million)
1,396.78
CAGR, 2024 - 2032
7.14%
Report Coverage
Singapore
Singapore Elevator Market 2018-2032 USD Million
Singapore Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 810.96 USD Million
- Projected Market Size (2032): 1,396.78 USD Million
- CAGR (2025-2032): 7.14%
Key Findings of Singapore Elevator Market
- The Singapore Elevator Market was valued at 810.96 USD Million in 2024.
- The Singapore Elevator Market is likely to grow at a CAGR of 7.14% 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 586.54 USD Million
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 8.50% during the forecast period from 2024 to 2032.
Singapore Elevator Market Scope
Singapore Elevator Market Segmentation & Scope
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
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
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Destination Control
- Smart
- Conventional
Singapore Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 810.96 USD Million |
| Market Value in 2032 | 1,396.78 USD Million |
| CAGR (2025-2032) | 7.14% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Door Type,End Use,Mechanism,Speed,Component ,Type,Deck ,Capacity,Elevation,Destination Control |
Regional Insights:
-
Leading Market (2024-2032): Singapore, leading in terms of revenue 810.96 USD Million in 2024
- Key Country: Singapore, leading in terms of revenue with value of 810.96 USD Million in 2024.
Segments and Scope
-
Singapore Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in Singapore Elevator Market to 2032 with a revenue of 343.21 USD Million in the year 2024.
- Automatic Door is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.85 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By End Use
- Commercial is the largest segment in Singapore Elevator Market to 2032 with a revenue of 414.56 USD Million in the year 2024.
- Commercial is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.35 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in Singapore Elevator Market to 2032 with a revenue of 302.74 USD Million in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.96 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in Singapore Elevator Market to 2032 with a revenue of 374.79 USD Million in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.57 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Component
- Hardware is the largest segment in Singapore Elevator Market to 2032 with a revenue of 534.57 USD Million in the year 2024.
- Hardware is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.21 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in Singapore Elevator Market to 2032 with a revenue of 425.89 USD Million in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.21 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Deck
- Single Deck is the largest segment in Singapore Elevator Market to 2032 with a revenue of 586.54 USD Million in the year 2024.
- Single Deck is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.19 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in Singapore Elevator Market to 2032 with a revenue of 260.52 USD Million in the year 2024.
- 630kg (or less) is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 8.50 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in Singapore Elevator Market to 2032 with a revenue of 401.33 USD Million in the year 2024.
- Low Rise Elevators is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.39 % in forecast period 2025-2032.
-
Singapore Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in Singapore Elevator Market to 2032 with a revenue of 459.84 USD Million in the year 2024.
- Conventional is the Fastest growing segment in Singapore Elevator Market to 2032 with a Growth rate of 7.24 % in forecast period 2025-2032.
Singapore Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
Singapore Elevator Market Geographical Sales Distribution, 2018-2032 USD Million
Singapore Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Singapore Elevator Market is segmented based on Segmentation Door Type,End Use,Mechanism,Speed,Component ,Type,Deck ,Capacity,Elevation,Destination Control.
Singapore Elevator Market was valued at USD 810.96(Revenue in USD Million) in 2024.
Singapore Elevator Market is projected to grow at a CAGR of 7.14% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the Singapore Elevator Market, holding a largest market share of 586.54 USD Million in 2024
Singapore Elevator Market Scope
Singapore Elevator Market Segmentation & Scope
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
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
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Destination Control
- Smart
- Conventional
Frequently Asked Questions
The Singapore Elevator Market is segmented based on Segmentation Door Type,End Use,Mechanism,Speed,Component ,Type,Deck ,Capacity,Elevation,Destination Control.
Singapore Elevator Market was valued at USD 810.96(Revenue in USD Million) in 2024.
Singapore Elevator Market is projected to grow at a CAGR of 7.14% during the forecast period of 2024 to 2032.
The estimated market value of the Singapore Elevator Market for final year is USD 1,396.78 (USD Million).
Singapore Elevator Market Company Profiling
Frequently Asked Questions
The Singapore Elevator Market is segmented based on Segmentation Door Type,End Use,Mechanism,Speed,Component ,Type,Deck ,Capacity,Elevation,Destination Control.
Singapore Elevator Market was valued at USD 810.96(Revenue in USD Million) in 2024.
Singapore Elevator Market is projected to grow at a CAGR of 7.14% during the forecast period of 2024 to 2032.
The estimated market value of the Singapore Elevator Market for final year is USD 1,396.78 (USD Million).
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