Indonesia Elevator & Escalator Market Analysis & Forecasts

The "Indonesia Elevator & Escalator – Market Size & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

Indonesia elevator and escalator market is expected to grow at a CAGR of 5.01%.

This report considers the present scenario of the Indonesia elevator and escalator market and its market dynamics for the period 2018-2024.

The study covers a detailed overview of various market growth enablers, restraints, and trends. It covers both the demand and supply aspects of the market. The study profiles and analyzes leading companies and several other prominent companies operating globally.

Due to increased urbanization and population expansion, the residential and public transit segments are the leading and second fastest expanding segments, respectively. After China and Japan, Indonesia has the third-largest share of urban land in East Asia.

In Indonesia, a series of breakdowns happened on a Hitachi elevator at Monumen Nasional (Monas), such incidents highlight the increasing demand for maintenance in elevators and escalators.

The market is highly competitive characterized by the presence of several OEMs including KONE, Otis, Hyundai Elevator, TK Elevator Mitsubishi Electric, Hitachi, Schindler, Fujitec, Kohler, CANNY Elevator Co. and others.

Key Highlights

In 2017, the Indonesian government launched the "100 Smart Cities Movement," a digitalization initiative. For 200 million Singapore dollars (USD 149 million), Mitsubishi Corp. will add an urban development project to its smart city initiative near Jakarta, picturing residential and commercial zones developed on six hectares around a railway station.

After China and Japan, Indonesia has the third-largest share of urban land in East Asia. Between 2000 and 2010, Indonesia's urban land rose by 1.1% every year, from around 8,900 square kilometers to 10,000 square kilometers. It is the largest increase in the absolute amount of urban land after China.

Due to increased urbanization and population expansion, the residential and public transit segments are the leading and second fastest expanding segments, respectively.

In Asia, Indonesia has the cheapest real estate. Jakarta's commercial area has a price per square meter that is 20% cheaper than Hanoi's and 55% less than Bangkok's.

The major skyscraper infrastructure project, Thamrin Nine Tower 1, will be the tallest skyscraper in Indonesia, standing at 333.5 m with 70 stories, leading to the demand for elevators and escalators in Indonesia.