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2020-10-23
ISSUE 6.4 Japan
Hello everybody! We decided to dedicate this article not to the whole region as we did before, but to one single country. It is known globally as being one of the leaders not only in the production of elevators but also has been ranked as one of the top countries in terms of the number of existing elevators. Yes, you got it! We are talking about Japan.
In Japan elevator and escalator industry has
high investment from the government.
In Japan elevator and escalator industry having a stable economy of the country and having a high investment of government for the development of the public infrastructure. Japan is leading a very strong economy in the world. The real estate sector plays a position role in the growth of Japan in the past few years. The key drivers of the elevator and escalator market are public infrastructure and the real estate sector in the country.
Japan’s manufacturers dominate the world’s top 3 ranking of ultrafast elevators with maximum speeds of 1260m/min!
Japan Elevator And Escalator Market size is
projected to grow at a CAGR of 5.8% during 2019-25.
The data for 2019 that in terms of the number of new elevators, Japan has 24,343 escalators, and if we go to the number of existing elevators, it’s 724,854 elevators. And that's quite impressive for one small island, right?
Japan elevator and escalator market are strong and according to 6Wresearch, Japan Elevator And Escalator Market size is projected to grow at a CAGR of 5.8% during 2019-25. The Japan elevator and escalator market are expected to undergo a period of boom over the coming years, primarily due to the construction boom as a result of the Olympics and Paralympics games.
Post-2020, steady growth is expected in
the new installation segment.
By applications, the residential application will continue to account for the highest revenue share. With Japan's construction sector regaining momentum, steady growth is expected in the new installation segment. Further, rising demand for sophisticated technology in the region will further boost the modernization and monetizing.
The statistic year 2019
Interesting fact:
By the way, did you know that currently, the world’s fastest elevator is employed in a building in China, and it can reach a speed of 1260 m/min (75.6 km/h) was supplied by Hitachi Building Systems? Moreover, in the world’s top speed elevator ranking, the number 2 elevator was developed by Mitsubishi Electric and number 3 was developed by Toshiba Elevator and Building Systems. In other words, Japan’s manufacturers dominate the world’s top 3 ranking of ultrafast elevators with maximum speeds of 1260m/min! Whoohoo!
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