Market Share of Elevator Control Industry
The investments in partnership and alliance are expected to be a strategic focus of vendors operating in the market. In addition, the vendors in the region are focusing on developing front-end control modules, primarily using contactless technologies to reduce waiting time and better control the bandwidth. The market is consolidated and includes mature companies, such as Toshiba, Hyundai, Mitsubishi, etc. Such companies have a strong regional and global presence with a considerable amount of experience in the elevator and control unit business. Hence, the level of market penetration remains to be high. Vendors are focusing on improving their market share with new strategies like Mitsubishi Elevator announced plans to gather a 20% market share by 2022-2023 across India by focusing on expansion through premium building space segments.
Elevator Control Market Leaders
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Hitachi Ltd.
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Hyundai Elevator Co., Ltd.
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Toshiba Elevators and Building Systems
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Mitsubishi Electric
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Thames Valley Controls
*Disclaimer: Major Players sorted in no particular order
