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Elevators & Escalators - Sales - Installation & Maintenance in Doha Qatar

Elevators and Escalators (E&E) are enablers of modern-day urbanism. They are known as portable mass transit systems and are installed in public and commercial places such as shopping malls, hotels, hospitals, offices, construction sites, airports, etc. as well as residential buildings.

The Top Elevators & Escalators Manufacturers

  1. Otis Worldwide Corporation
  2. Mitsubishi Electric Corporation
  3. Schindler Holding Ltd
  4. KONE Corporation
  5. Thyssenkrupp AG
  6. Fujitec Co., Ltd.
  7. Hitachi, Ltd.

Elevators and Escalators Market Scenario

The Elevators and Escalators industry is closely linked to the construction industry. The slightest movement in the construction industry (positive or negative) have a direct impact on the E&E market. The current COVID-19 pandemic initially affected the Asia-Pacific construction industry, the impact of which later spread to all regions of the world. The pandemic headed to the temporary halt of production plants in many countries, as well as the closure of construction sites.

Long-term restrictions on people's freedom of movement made it difficult to finish the contracts for new projects and to continue work on existing orders. This particularly impacted the new installation and modernization businesses unit of elevator manufacturers. Though E&E service business continued to fetch business for companies even in this unfavorable environment and is registering growth.
Prior to the outbreak of the coronavirus (COVID-19) it had been predicted that the Elevator market will register a 1.1% CAGR in terms of revenue, the global market size will reach USD 32870 million by 2025, from USD 31410 million in 2019. But this scenario has been changed after the COVID. (SourceGlobal Elevator Market Growth 2020-2025)


Global Construction Industry Scenario

Prior to the outbreak of the coronavirus (COVID-19), it had been predicted by analysts that there would be an acceleration in the pace of growth in the global construction industry, to 3.1% from 2.6% in 2019. However, given the severe disruption in China and other leading economies worldwide following the outbreak, the forecast for growth in 2020 has now been revised down to 0.5%. The current forecast assumes that the outbreak is contained across all major markets by the end of the second quarter, following which, conditions would allow for a return to normalcy in terms of economic activity and freedom of movement in the second half of the year. However, there will be a lingering and potentially heavy impact on private investment owing to the financial toll that inflicted upon businesses and investors across a wide range of sectors.

The construction work on major commercial projects in key countries has been greatly affected. The disruption caused by the pandemic is likely to be prolonged in the leisure and hospitality buildings sector, reflecting the likely downturn in both domestic and foreign tourism, which could reduce investment in new hotel projects. The residential sector is facing a high risk of a sharp downturn with major developers recording sharp drops in new sales. (SourceGlobal Construction Outlook to 2024 (COVID-19 Impact)

Especially in China, underlying drivers of growth include ongoing urbanization and the government’s efforts to renovate aging urban residential buildings, years of high levels of investment in real estate have resulted in oversupply, undermining the demand for new space. In January-March 2020, real estate investment in residential buildings had dropped by 7.2% year on year, with the sharpest drop being recorded in the central region, at -16.9%. (SourceConstruction in China - Forecast Update)

Impact of COVID-19 on top Elevators manufacturers

1. Otis Worldwide Corporation

Otis Worldwide Corporation reported first-quarter 2020 net sales of USD 3.0 billion, a decrease of 2.1% organically versus the prior year. Otis delivered a strong first quarter while navigating COVID-19 related challenges. The strength of the company's business was demonstrated by continued organic Service sales growth, New Equipment backlog growth, and margin expansion in both the New Equipment and Service segments. During this unprecedented global health crisis, the company's workforce rose to the occasion, providing essential services to their customers. (Source: Company Presentation)

2. Mitsubishi Electric Corporation

Mitsubishi Electric Corporation's revenue for fiscal 2020 dropped by 57.4 billion yen from the previous fiscal year to 4,462.5 billion yen due primarily to a decrease in revenue of Industrial Automation Systems segment. The company has reported an operating profit of 259.6 billion yen an 11% decrease from the previous fiscal year.

The current forecast reflects the sluggish markets in various countries and regions and following recovery process, and is based on the assumption that COVID-19 continues to have an impact on revenue and operating profit until the second quarter. The amount of the impact is expected to be a decrease in revenue by 440.0 billion yen and a loss of operating profit by 135.0 billion yen. The current forecast may be modified depending on the global and local situation of the containment of COVID-19. (Source: Company Presentation).

3. Schindler Holding Ltd

For the first quarter of 2020, Schindler Holding Ltd confirms revenue of CHF 2447 million which is declined by 5.2% compared to last year. As the impact from the COVID-19 pandemic has expanded globally, Schindler's order intake in the first quarter of 2020 declined 8.4% to CHF 2720 million (–3.2% in local currencies). 
Depending on the severity and duration of government measures worldwide to contain the COVID-19 pandemic spread, revenue growth is expected to be contained between 0% and –10% in local currencies. With higher restructuring costs, net profit for the year should be expected to come in below 2019, in the order of magnitude of 20%. (Source: Company Presentation).

4. KONE Corporation

KONE Corporation’s sales of the first quarter of 2020, was impacted due to COVID-19. The Company's revenue got hit because of China, India, and South Europe's wide-ranging restrictions. While its performance seemed stable in Central and North Europe and the Americas were very strong. In January–March 2020, sales were declined by 0.5% (EUR 2198.3), New equipment sales declined by 5.1% and  Maintenance sales grew by 6.4%.

KONE estimates that in 2020, its sales will decline (by 5-10%) or be stable at best at comparable exchange rates as compared to 2019. (Source: Company Presentation).

5. Thyssenkrupp AG

Thyssenkrupp AG’s performance in the 1st half of the current fiscal year 2019-2020 was largely affected by the coronavirus pandemic. In order to mitigate the cash crunch of the company has sold its crown jewel, the elevator business, and started implementing the steel strategy. The sold elevator business recorded growth in both order intake (2%) and sales (3%) in the 1st half resulting mainly from new installations and service business in the USA. The 2nd quarter saw a decline in both key figures in China and in sales in Europe, also as a result of the coronavirus pandemic. 

The elevator division was sold in February to a consortium of Advent, Cinven, and Germany's RAG foundation for 17.2 billion euros in order to ease financial pressure on the conglomerate which has struggled for years after a downturn in steel and a series of failed investments.  (Source: Company Presentation).

6. Fujitec Co., Ltd.

Fujitec Co., Ltd. Fujitec's performance for FY 2019-20 has shown a 6.1% growth compared to FY 2018-19. Due to the COVID effect, the company expects a 9% decline in revenue for FY 2020-21.

Touchless technology is a new buzz in Japan, as the Covid-19 crisis is intensifying, a new trend emerged that positively affects the sensor technology players. Taking cues from the trend, Fujitec has launched a model with an optional add-on contactless panel feature that uses infrared sensors to select a destination floor based on the position of the hand on the dashboard. The model was intended for hospitals, pharmaceuticals, manufacturers, and food companies.

7. Hitachi, Ltd.

Find below a list of the top Elevators & Escalators - Sales - Installation & Maintenance in Doha, Qatar:

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Elevators & Escalators - Sales - Installation & Maintenance in Doha Qatar

Find below a list of the top products suppliers of Elevators & Escalators in Doha, Qatar:

  • AKI
    - Elevators, Escalators, Lifts
  • DIAO
    - Elevators, Escalators, Lifts
  • FUJI
    - Low Pit, Special Design, Specialized In Supplying / Installing / Maintaining / Modernizing Of All Types Of Vertical Transportation System Like Elevators, Escalators, Dumbwaiters & Parking Systems
    - The Specialists For Exclusive Lifts
  • IMEM
    - Elevators - Supplier & Contractor / Service & Maintenance


    - Supply / Installation / Testing / Commissioning / Maintenance Works
    - Vertical Personal Lifts, Goods Lifts, Masts Lifts, Special Lifts & Elevators, Home Elevators, Handicap Lifts, Dumbwaiters, Special Lifts
    - Elevators, Escalators, Travelators - Supplier & Contractor / Service & Maintenance
    - Supply, Erection Of Residential Elevators & Commercial Elevators, Maintenance Of All Types Of Elevators & Escalators
  • OTIS
    - Elevators, Escalators, Travolators

Related Tags:
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Chantelle D'Mello

Chantelle D'mello is an avid writer with over four years of hard news experience as part of the award-winning Doha News team. She's previously worked at Al Jazeera and the Huffington Post, and hopes to bring her passion for writing to the Qatar Oil and Gas Directory.

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