Singapore Elevator & Escalator Market Size, Share & Forecast 2026

1. 2016 – 2026 SINGAPORE ELEVATORS & ESCALATORS MARKET F O R E C AS T & O P P O R T U N I T I E S www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

2. Scope of Report Product of Interest (POI): Elevators & Escalators Elevators, Escalators, and moving walkways are also termed as vertical transportation systems. An elevator or a lift can be defined as a machine installed in buildings to carry, lift, transport or move people and goods from one floor to another. An elevator can be used in various types of settings such as residential complexes, commercial buildings, malls, hospitals, etc., for moving passengers or goods from one level to another. Market Segmentation ELEVATORS & ESCALATORS MARKET ELEVATORS & ESCALATORS MARKET Year Range SERVICE TYPE Elevator • Modernization, • Review Period Escalator • Maintenance & Repair Moving Walkways • New Installation • 2016 – 2019 END USER ELEVATOR DOOR TYPE Automatic • Residential • Base Year Manual • Commercial • REGION ELEVATOR TECHNOLOGY 2020 Institutional • Traction • South West • Infrastructural • Estimated Year Hydraulic • North West • Others • Machine Room-Less • Central 2021 • Traction North East • Forecast Period South East • 2022 – 2026 2

3. Table of Contents S. No. Page No. Contents Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) Research Methodology (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.) Executive Summary (This chapter covers summary of the complete study.) 1. 2. 3. 4. Voice of Customer 4.1. Brand Awareness 4.2. Brand Satisfaction 4.3. Challenges & Unmet Needs 4.4. Annual Maintenance Service 5. Singapore Elevators & Escalators Market Outlook, 2016-2026F 5.1. Market Size & Forecast 5.1.1. By Value & Volume (New Installations) 5.2. Market Share & Forecast 5.2.1. By Type (Elevator, Escalator and Moving Walkways) 5.2.2. By Service (Modernization, Maintenance & Repair, New Installation) By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction) 5.2.3. 5.2.4. By Elevator Door Type (Automatic Vs. Manual) By End User (Residential, Commercial, Institutional, Infrastructural and Others) 5.2.5. 3 5.2.6. By Region 3

4. Table of Contents S. No. Page No. Contents 5.2.7. By Company 5.3. Product Market Map Singapore Modernization and Maintenance & Repair Elevator & Escalator Market Outlook, 2016-2026F 6. 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Type (Elevator, Escalator and Moving Walkways) By End User (Residential, Commercial, Institutional, Infrastructural and Others) 6.2.2. 7. Singapore New Installation Elevators & Escalators Market Outlook, 2016-2026F 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Type (Elevator, Escalator and Moving Walkways) By End User (Residential, Commercial, Institutional, Infrastructural and Others) 7.2.2. 8. Market Dynamics 8.1. Drivers 8.2. Challenges 9. Trade Dynamics 4 4

5. Table of Contents S. No. Page No. Contents 10. Impact of COVID-19 on Singapore Elevators & Escalators Market 11. Market Trends & Developments 12. Policy & Regulatory Landscape 13. Singapore Economic Profile 14. Competitive Landscape 14.1 Competition Outlook 14.2 Company Profiles (Top 10 Leading Companies) 14.2.1. Company Details 14.2.2. Products & Services 14.2.3. Financials (As Reported) 14.2.4. Key Market Focus & Geographical Presence 14.2.5. Recent Developments 14.2.6. Key Management Personnel 15. Strategic Recommendations 16. About Us & Disclaimer 5 5

6. RESEARCH METHODOLOGY

7. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine top players in Singapore elevators & escalators market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about Singapore elevators & escalators market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis Actionable Insights ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion ✓ ✓ Data Filter & Analysis Business Solution Market Participants Key Strengths Research & Intelligence Data Collection ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 7

8. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Singapore elevators & escalators market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as growing urbanization and rising FDI investments in construction & retail sectors in the country. Moreover, growing real estate would continue boosting country’s elevators & escalators market. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in Singapore elevators & escalators market. Methodology Followed for Calculation of Market Size: Market Size by Value & Volume: Market size, in terms of value & volume, for the year 2020 was calculated based on information collected • through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as elevators & escalators manufacturers, distributors, suppliers, industry experts, and other industry participants. The team interviewed more than 20 elevators & escalators manufacturers, distributors/dealers, 20 industry experts and other value chain • stakeholders in Singapore elevators & escalators market to obtain the overall market size from 2016 to 2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2016-2020. 8

9. Research Methodology Respondents were asked about the current and future market growth rates, market shares by type, by service, by elevator technology, by elevator • door type, by end user and by each region. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by type, by service, by elevator technology, by elevator door type, by end user and by region and by company were calculated based • on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares, trends and recent development in the Singapore elevators & escalators market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in • SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Singapore elevators • & escalators market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 9

10. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed Key Secondary Sources KONE Pte Ltd World Bank ▪ ▪ OTIS Elevator Company TechSci Research Proprietary Database & Knowledge ▪ ▪ Hitachi Group Repository ▪ Mitsubishi Electric Corporation Company Annual Reports ▪ ▪ Schindler Holding Ltd. Industry Magazines ▪ ▪ Hyundai Elevator Industry Reports ▪ ▪ Toshiba Elevator and Building Systems Corporation News Dailies ▪ ▪ thyssenkrupp AG Credible Paid Databases ▪ ▪ 10

11. Industry Brief According to TechSci Research report, “Singapore Elevator & Escalator Market By Type (Elevator, Escalator and Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction), By Elevator Door Type (Automatic and Manual), By End User (Residential, Commercial, Institutional, Infrastructural and Others), By Region, Forecast & Opportunities, 2015- 2025”, Singapore elevator & escalator market was valued USD 0.10 Billion in 2019 and is anticipated to be valued USD 0.12 Billion by 2025. Presence of significant number of high-rise buildings and thriving construction sector of the country are acting as major growth driver for Singapore elevator & escalator market. In addition to this, increasing investment by government as well as private sector companies on infrastructural development is also positively impacting the elevator & escalator market growth. Moreover, growth in real- estate sector owing to the rise in construction of residential building in order to accommodate the growing population of Singapore is another key factor propelling the growth of elevator & escalator market in the country. With rise in number of commercial places such as office spaces, shopping malls and hotels, the market is expected to grow significantly in the next five years. Additionally, rising ageing population is leading to growing automation needs for the convenience of commuters which is leading to increasing installation of elevators & escalators in the country. Apart from that, introduction of latest technology and construction of high-rise technology powered buildings in the country are further boosting the growth of Singapore elevator & escalator market. Singapore elevator & escalator market is segmented based on type, service, elevator technology, elevator door, end user and region. Based on service, the market can be categorized into maintenance & repair, new installation and modernization. Among them, the modernization and maintenance & repair segment together accounted for 58.78% market share, in terms of value in 2019 and is further expected to maintain its dominance during the forecast period . The reasons behind the rise in demand for modernization and maintenance & repair services can be attributed to the strict regulations introduced by Building and Construction Authority (BCA) regarding periodic maintenance of elevators and escalators. Based on end user, the Singapore elevator & escalator market can be split into residential, commercial, institutional, infrastructural and others. Among them, the residential sector is anticipated to dominate with a market share of around 45% on account of expanding high rise residential complexes in the country and growing installation of elevators in order to save time and efforts of the residents. Leading market players in Singapore elevator & escalator market are KONE Corporation, Hitachi Group, Otis Elevator Company (UTC), Mitsubishi Electric Corporation, Schindler Holding Ltd., Hyundai Elevator, thyssenkrupp AG and Toshiba Elevator and Building Systems Corporation. Companies are investing ion latest technologies and persistent research in order to introduce advanced products into the market. Moreover, they are also undergoing inorganic growth strategies such as acquisition of domestic players, partnerships and collaborations in order to increase their share in Singapore elevator & escalator market. “Manufacturers are coming-up with fast speed elevators to fulfil the demand for high-rise buildings. In addition, due to increased urbanization, Singapore is witnessing high demand for vertical transportation which in turn is creating the demand for elevators and escalators in the country.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 11

12. Sample Data - Snapshot Singapore Elevators & Escalators Market Size, By Value (USD Million) & Volume (New Installations), 2016–2026F 15.00 110.00 14.00 100.00 13.00 90.00 12.00 80.00 11.00 70.00 10.00 60.00 9.00 50.00 8.00 40.00 7.00 30.00 6.00 20.00 5.00 10.00 CAGR By Value & Volume YY% 2016 2020 2021E 2026F CAGR By Value & Volume XX% By Value (USD Million) By Volume (Units) Singapore Elevators & Escalators Market Share, By Type, By Value, 2016–2026F 2026F 33% 34% 33% 33% 34% 33% 2024F 33% 34% 33% 33% 34% 33% 2022F 33% 34% 33% 33% 34% 33% 2020 33% 34% 33% 33% 34% 33% 2018 33% 34% 33% 33% 34% 33% 2016 33% 34% 33% Elevator Escalator Moving Walkways Singapore Elevators & Escalators Market Share, By Company, By Value, 2020 100% 58% 15% 10% 8% 5% 4% Total Company 1 Company 2 Company 3 Company 4 Company 5 Others 12

13. Report Ordering Report Name: SINGAPORE ELEVATORS & ESCALATORS MARKET FORECAST & OPPORTUNITIES 2016 – 2026 Report Price License Type Price Electronic Access - Single User License $3450 Electronic Access - Multi-User License $4450 Custom Research License $8450 To View Sample OR Purchase Report 13

14. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports India Elevators and Escalators Market By Type of Carriage (Passenger, Freight & Others), By Type of Machinery (Traction & Hydraulic), By Type of Door (Automatic & Manual), By Weight, By End User, Competition Forecast & Opportunities, 2013 – 2023 • UAE Elevators & Escalators Market By Type (Elevator, Escalator & Moving Walkways), By Service (Maintenance & Repair, New Installations & Modernization), By Elevator Technology (Traction, Machine Room-Less Traction & Hydraulic), By Elevator Door Type (Automatic Vs. Manual), By End User, By Region, Competition, Forecast & Opportunities, 2026 • TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.