What is the Global Elevator Traction Machine Market Size?

The demand for Global Elevator Traction Machine Market is expected to increase in the future with the growing market for elevators at commercial and residential areas, which is estimated to cross USD XX billion by 2022. The traction machine is located in the elevator machine room and comprises of parts that drive an elevator like the drive motor, brake, speed reduction unit, sheaves and encoder, and it is the power unit for an elevator. Gearless machine and geared machine are two common types of elevator driving machines.

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Factors Driving the Growth of Global Elevator Traction Machine Market:

The traction elevators are comparatively faster than the hydraulic elevators and work efficiently with the help of the counterweight. As said above, geared and gearless are the two kinds of elevators that use the traction machines. Geared elevators use a gearbox attached to the motor that drives the wheel, while the gearless contains the wheel attached directly to the motor. Geared elevators are used for a maximum distance of 250 feet, whereas elevators can be used for the distance of 2,000 feet.

The increasing demand for elevators at residential, commercial, institutional, infrastructure, industrial, and marine areas is the principal factor driving the global elevator traction machine market. Additionally, the advancements in the technology, a growing number of shopping malls, need for regular maintenance, installation and repair of the market, the rise in the number of constructions, use of elevators in public and private organizations, and other factors are also promoting the worldwide marketplace. However, the electrical fluctuations and improper maintenance leading to accidents are few factors limiting the expansion of the market.

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Geographic Segmentation:

Based on the regional analysis, the Asia Pacific leads the global elevator traction machines market owing to the increasing population and demand for elevators in the residential, commercial and government organizations in the emerging nations like India, China, Japan, and others. It is expected to continue its leading position in the future followed Europe, North America and others.

Some of the Leading Companies in the Global Elevator Traction Machine Market:

The major companies in the global elevator traction machines market are GAL, Otis, Kinetek, Wittur, ZIEHL ABBEG, Kone, Montanari, SASSI, Hitachi, Mitsubishi, KM, Yaskawa, NAWOOTEC, An Fam, and Schindler.

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