Middle East & Africa Elevator Safety System Market

The Middle East & Africa elevator safety system market is expected to grow from US$ 1,515.42 million in 2022 to US$ 2,448.12 million by 2028. It is estimated to grow at a CAGR of 8.3% from 2022 to 2028.

Increased Use of Elevators with Rapid Urbanization is Boosting the Middle East & Africa Elevator Safety System Market growth

The migration of people from rural to urban areas at a steady pace over the years has been a common phenomenon across the region, particularly in developing countries. In addition to the initial purpose of showcasing progressive architecture, high-rise buildings are now being constructed to solve the accommodation crisis emerging from the surging urban population. As a result, elevators are losing their status as a premium feature and are becoming a common feature in most multistorey buildings having more than two floors. Modern-day elevators come with different default safety systems, including infrared door protection, terminal slowdown switches, travel limit switches, terminal buffers, interlocking, over-speed governors, alarm bells, emergency stop switches, elevator phones, safety edges, and intercoms. With the increasing installation of elevators in multistorey buildings, elevator safety system manufacturers are witnessing high demand for their products. Additionally, elevator manufacturers are increasing the number of safety features provided in their products to better comply with relevant regulations and distinguish their products from their competitors. For example, manufacturers are offering elevators integrated with microcomputer-enabled monitoring technology and smart auxiliary braking systems to attract new customers and boost the installation of their elevators. Thus, the rapid urbanization promoting uptake of elevator safety systems and stringent elevator regulations which is boosting the Middle East & Africa elevator safety system market.

Middle East & Africa Elevator Safety System Market Overview

The MEA region has widespread digitalization and is increasingly integrating elevators as a vital part of the building ecosystem by leveraging new technologies such as the Internet of Things (IoT) and artificial intelligence (AI). With the growing demand for safety systems in elevators, operators and manufacturers of escalators comply with a wide range of international and local regulations and standards. Moreover, to ensure the well-being and comfort of the passengers, duty holders and owners continue to enhance lift maintenance, operational availability, emergency attendance, quality, and safety to maintain the cost and energy-efficient operations of elevators.

Furthermore, increased metro and airport infrastructure expansion has led to massive elevator adoption in the Middle East. For instance, Dubai Expo 2020 event includes the construction of new hotels and malls and expanding metro and airport networks. In addition, these infrastructures had huge elevators penetration, creating the necessary demand for safety systems in the country.

Several key players in the region are adapting to Programmable Electronic Systems in Safety-Relevant Applications (PESSRAL) of lifts, which follow the principles of functional safety and mechanical safety in elevators. Moreover, with the growing digitization of lifts, AI, IoT, and big data technologies are adopted during elevator installation making construction faster and more accurate, as well as improving the health and safety conditions for technicians and passengers.

In Nigeria, there is a growing demand for safety systems for elevators installed across several commercial and residential buildings. The Building Services Engineering Division of Nigeria's PPC Ltd. (formerly Philips Projects Centre) has raised the demand for routine elevator maintenance, continued operation, and reliable service to ensure high-performance standards and the safety of people using elevators. These factors, as a result, are anticipated to create lucrative growth opportunities for the Middle East & Africa elevator safety system market in the coming years.

Middle East & Africa Elevator Safety System Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Elevator Safety System Strategic Insights

Strategic insights for the Middle East & Africa Elevator Safety System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Elevator Safety System Report Scope

Middle East & Africa Elevator Safety System Regional Insights

The geographic scope of the Middle East & Africa Elevator Safety System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The Middle East & Africa elevator safety system market is segmented into type, application, and country.

Based on type, the Middle East & Africa elevator safety system market is segmented into control system, maintenance system and communication system. The control system segment held the largest market share in 2022.

Based on application, the Middle East & Africa elevator safety system market is bifurcated into residential, and non-residential. The residential segment dominated the market share in 2022.

Based on country, the Middle East & Africa elevator safety system market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The UAE dominated the market share in 2022.

Chr Mayr GmbH + Co KG; Flexco Industries Inc; OLEO International Ltd; Otis Elevator Co; and TK Elevator GmbH are the leading companies operating in the Middle East & Africa elevator safety system market.