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			       1	INTRODUCTION	29
1.1	STUDY OBJECTIVES	29
1.2	MARKET DEFINITION	29
1.3	MARKET SCOPE	30
FIGURE 1	ELEVATORS & ESCALATORS MARKET SEGMENTATION	30
1.3.1	REGIONAL SCOPE	30
1.3.2	YEARS CONSIDERED	31
1.4	CURRENCY CONSIDERED	31
1.5	UNIT CONSIDERED	31
1.6	STAKEHOLDERS	31
1.7	LIMITATIONS	32
1.8	SUMMARY OF CHANGES	32
2	RESEARCH METHODOLOGY	33
2.1	RESEARCH DATA	33
FIGURE 2	ELEVATORS & ESCALATORS MARKET: RESEARCH DESIGN	33
2.2	MARKET SIZE ESTIMATION	34
FIGURE 3	APPROACH 1: BOTTOM-UP APPROACH	34
FIGURE 4	APPROACH 2: TOP-DOWN APPROACH	34
2.3	DATA TRIANGULATION	35
2.3.1	SECONDARY DATA	35
2.3.2	PRIMARY DATA	35
FIGURE 5	DATA TRIANGULATION	36
2.4	KEY MARKET INSIGHTS	36
FIGURE 6	LIST OF STAKEHOLDERS INVOLVED AND BREAKDOWN OF 
PRIMARY INTERVIEWS	37
2.5	RESEARCH ASSUMPTIONS & LIMITATIONS	37
2.5.1	ASSUMPTIONS	37
2.5.2	LIMITATIONS	38
2.5.3	RISK ASSESSMENT	38
TABLE 1	LIMITATIONS & ASSOCIATED RISKS	38
TABLE 2	RISKS	38
3	EXECUTIVE SUMMARY	39
FIGURE 7	NEW INSTALLATION TO BE LARGEST SERVICE SEGMENT OF 
ELEVATORS & ESCALATORS MARKET	39
FIGURE 8	RESIDENTIAL TO BE FASTEST-GROWING END-USE INDUSTRY 
MARKET SEGMENT	40
FIGURE 9	ASIA PACIFIC TO BE FASTEST-GROWING ELEVATORS & ESCALATORS MARKET	40
4	PREMIUM INSIGHTS	42
4.1	ASIA PACIFIC TO GROW AT A HIGHER RATE DUE TO RAPID INDUSTRIALIZATION 
AND INCREASING END-USE INDUSTRIES	42
FIGURE 10	EXPANSIONS AND ACQUISITIONS TO OFFER LUCRATIVE OPPORTUNITIES 
IN ELEVATORS & ESCALATORS MARKET	42
4.2	ELEVATORS & ESCALATORS MARKET, BY ELEVATOR TECHNOLOGY	42
FIGURE 11	MACHINE-ROOM-LESS TRACTION ELEVATOR SEGMENT TO BE THE FASTEST-GROWING ELEVATOR TECHNOLOGY	42
4.3	ELEVATORS & ESCALATORS MARKET, BY TYPE	43
FIGURE 12	ELEVATORS TYPE SEGMENT TO LEAD ELEVATORS & ESCALATORS MARKET	43
4.4	ELEVATORS & ESCALATORS MARKET, BY REGION AND END-USE INDUSTRY	43
FIGURE 13	ASIA PACIFIC AND RESIDENTIAL LED THEIR RESPECTIVE SEGMENTS 
IN ELEVATORS & ESCALATORS MARKET IN 2020	43
5	MARKET OVERVIEW	44
5.1	INTRODUCTION	44
5.2	MARKET DYNAMICS	44
FIGURE 14	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: 
ELEVATORS & ESCALATORS MARKET	44
5.2.1	DRIVERS	45
5.2.1.1	Increased construction of high-rise buildings equipped with smart vertical transportation systems due to rapid urbanization	45
FIGURE 15	URBAN AND RURAL POPULATION 1950–2050	45
5.2.1.2	Growing need for reducing energy consumption in buildings	46
5.2.1.3	Growing aging population to facilitate development of better infrastructure within buildings	46
FIGURE 16	NUMBER OF PEOPLE AGED 65 YEARS AND ABOVE, BY REGION, 
2019 AND 2050	46
5.2.2	RESTRAINTS	47
5.2.2.1	Uncertainty and risk regarding global economy	47
5.2.2.2	High maintenance cost	47
5.2.3	OPPORTUNITIES	47
5.2.3.1	Adoption of green building codes and energy-efficient products	47
5.2.3.2	Development of innovative technologies and rising demand 
for smart elevators	48
5.2.4	CHALLENGES	48
5.2.4.1	Compliance with standards and regulations	48
5.2.4.2	Economic slowdown	48
5.3	PORTER’S FIVE FORCES ANALYSIS	49
FIGURE 17	ELEVATORS & ESCALATORS MARKET: PORTER'S FIVE FORCES ANALYSIS	49
TABLE 3	ELEVATORS & ESCALATORS MARKET: PORTER’S FIVE FORCES ANALYSIS	49
5.3.1	THREAT OF NEW ENTRANTS	50
5.3.2	THREAT OF SUBSTITUTES	50
5.3.3	BARGAINING POWER OF SUPPLIERS	50
5.3.4	BARGAINING POWER OF BUYERS	50
5.3.5	INTENSITY OF COMPETITIVE RIVALRY	50
5.4	VALUE CHAIN	51
FIGURE 18	ELEVATORS & ESCALATORS MARKET: VALUE CHAIN	51
5.4.1	RESEARCH & DEVELOPMENT	51
5.4.2	COMPONENT MANUFACTURER	51
5.4.3	MANUFACTURER	51
5.4.4	SOFTWARE & SERVICE	51
5.4.5	INTEGRATOR	52
5.4.6	END-USE APPLICATION	52
5.5	TRENDS & DISRUPTIONS IMPACTING CUSTOMERS	52
5.5.1	REVENUE SHIFT & NEW REVENUE POCKETS FOR ELEVATORS 
& ESCALATORS MANUFACTURERS	52
FIGURE 19	REVENUE SHIFT FOR ELEVATORS & ESCALATORS MANUFACTURERS	52
5.6	REGULATORY LANDSCAPE	53
5.6.1	CONTAINER COMPLIANCE OPTIONS FOR SAFETY AND ACCESSIBILITY 
IN EUROPE	53
5.6.2	LIFT/ELEVATOR STANDARDS IN ASIA PACIFIC (INDIA)	53
5.7	TECHNOLOGY TRENDS	54
5.7.1	ADOPTION OF ECO-FRIENDLY PRODUCTS	54
5.7.2	ARTIFICIAL INTELLIGENCE	54
5.7.3	INTUITIVE ELEVATOR TECHNOLOGY	54
5.7.4	INTERNET OF THINGS	54
5.7.5	CONNECTIVITY 5G TECHNOLOGY	54
5.8	CASE STUDY ANALYSIS	55
5.8.1	CASE STUDY 1: ELEVATORS GURGAON MEDANTA	55
5.8.2	CASE STUDY 2: ENERGY-EFFICIENT BUILDING INITIATIVE MUMBAI- 
THE RUBY BUILDING SYSTEMS – ELEVATORS	55
5.8.3	CASE STUDY 3: HONEYWELL- CORPORATE OFFICE RENOVATIONS	56
5.8.4	CASE STUDY 4: KONE CORPORATION- 180 BRISBANE COMMERCIAL OFFICES, AUSTRALIA	56
5.9	ECOSYSTEM	57
FIGURE 20	ECOSYSTEM FOR ELEVATORS & ESCALATORS MARKET	57
5.10	PRICING ANALYSIS	57
TABLE 4	AVERAGE PRICES OF ELEVATORS & ESCALATORS, BY REGION (USD/UNIT)	58
5.11	TRADE ANALYSIS	58
TABLE 5	ELEVATORS & ESCALATORS IMPORT TRADE DATA, 2020 (USD THOUSAND)	58
TABLE 6	ELEVATORS & ESCALATORS EXPORT TRADE DATA, 2020 (USD THOUSAND)	59
5.12	PATENT ANALYSIS	60
5.12.1	INTRODUCTION	60
5.12.2	METHODOLOGY	60
5.12.3	DOCUMENT TYPE	60
FIGURE 21	TOTAL PATENTS- LAST 10 YEARS	61
FIGURE 22	PUBLICATION TRENDS - LAST 10 YEARS	61
5.12.4	INSIGHT	61
5.12.5	LEGAL STATUS OF THE PATENTS	62
FIGURE 23	LEGAL STATUS OF THE PATENTS	62
5.12.6	JURISDICTION ANALYSIS	62
FIGURE 24	JURISDICTION ANALYSIS	62
5.12.7	TOP COMPANIES/APPLICANTS	63
FIGURE 25	TOP COMPANIES/APPLICANTS	63
TABLE 7	LIST OF PATENTS BY MITSUBISHI ELECTRIC CORPORATION.	63
TABLE 8	LIST OF PATENTS BY OTIS ELEVATOR COMPANY	64
TABLE 9	LIST OF PATENTS BY KONE CORPORATION	65
TABLE 10	TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS	66
5.13	COVID-19 IMPACT ON ELEVATORS & ESCALATORS MARKET	67
5.13.1	COVID-19 IMPACT ON CONSTRUCTION INDUSTRY	67
6	ELEVATORS & ESCALATORS MARKET, BY TYPE	68
6.1	INTRODUCTION	69
FIGURE 26	ELEVATOR TYPE SEGMENT TO LEAD ELEVATORS & ESCALATORS MARKET	69
TABLE 11	ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	69
TABLE 12	ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	69
6.2	ELEVATORS	70
6.2.1	ELEVATORS SEGMENT TO DOMINATE THE MARKET	70
6.2.2	PASSENGER ELEVATOR	70
6.2.2.1	Bed elevator	70
6.2.2.2	Service elevator	70
6.2.2.3	Observation elevator	71
6.2.2.4	Residential elevator	71
6.2.3	FREIGHT ELEVATOR	71
6.2.3.1	Dumbwaiters	71
6.2.3.2	Vehicle elevators	71
6.2.4	OTHERS	72
6.3	ESCALATORS	72
6.3.1	BOOM IN REAL ESTATE SECTOR AND NEED FOR EFFICIENT & RAPID 
TRANSIT SYSTEMS ARE DRIVING MARKET	72
6.4	MOVING WALKWAYS	72
6.4.1	MUSHROOMING OF AIRPORTS AND SHOPPING MALLS IS DRIVING MARKET	72
7	ELEVATORS & ESCALATORS MARKET, BY ELEVATOR TECHNOLOGY	73
7.1	INTRODUCTION	74
FIGURE 27	MACHINE-ROOM-LESS TRACTION ELEVATOR SEGMENT TO BE THE FASTEST-GROWING SEGMENT	74
TABLE 13	ELEVATORS & ESCALATORS MARKET SIZE, BY ELEVATOR TECHNOLOGY, 2019–2026 (USD MILLION)	74
TABLE 14	ELEVATORS & ESCALATORS MARKET SIZE, BY ELEVATOR TECHNOLOGY, 2019–2026 (THOUSAND UNITS)	74
7.2	TRACTION ELEVATOR	75
7.2.1	LIGHTWEIGHT PROPERTIES DRIVE MARKET GROWTH	75
7.3	MACHINE-ROOM-LESS TRACTION ELEVATOR	75
7.3.1	COST-EFFECTIVENESS AND SUPERIOR PERFORMANCE OF 
TECHNOLOGY DRIVE SEGMENT	75
7.4	HYDRAULIC	75
7.4.1	TECHNICAL SPECIALITIES OF TECHNOLOGY HAS LED TO INCREASE 
IN DEMAND FOR SEGMENT	75
8	ELEVATORS & ESCALATORS MARKET, BY SERVICE	76
8.1	INTRODUCTION	77
FIGURE 28	NEW INSTALLATION TO BE LARGEST SERVICE SEGMENT DURING 
FORECAST PERIOD	77
TABLE 15	ELEVATORS & ESCALATORS MARKET SIZE, BY SERVICE, 
2019–2026 (USD MILLION)	77
TABLE 16	ELEVATORS & ESCALATORS MARKET SIZE, BY SERVICE, 
2019–2026 (THOUSAND UNITS)	77
8.2	NEW INSTALLATION	78
8.2.1	SURGE IN URBANIZATION AND RISE IN CONSTRUCTION ACTIVITIES 
TO DRIVE THE SEGMENT	78
8.3	MAINTENANCE & REPAIR	78
8.3.1	GROWING CONCERN TOWARD AGING ELEVATORS IS DRIVING SEGMENT	78
8.4	MODERNIZATION	78
8.4.1	INNOVATIVE TECHNOLOGIES AND NEED TO REPLACE AGING AND OBSOLETE SYSTEMS ARE DRIVING MARKET FOR SEGMENT	78
9	ELEVATORS & ESCALATORS MARKET, BY END-USE INDUSTRY	79
9.1	INTRODUCTION	80
FIGURE 29	RESIDENTIAL TO BE FASTEST-GROWING END-USE INDUSTRY SEGMENT	80
TABLE 17	ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 
2019–2026 (USD MILLION)	80
TABLE 18	ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 
2019–2026 (THOUSAND UNITS)	81
9.2	RESIDENTIAL	81
9.2.1	GROWING HIGH-RISE RESIDENTIAL BUILDING CONSTRUCTION IS 
FUELING DEMAND FOR ENERGY-EFFICIENT ELEVATORS	81
9.3	COMMERCIAL	81
9.3.1	NEED TO OPTIMIZE TRAFFIC FLOW IN ELEVATORS IN COMMERCIAL 
SPACES TO RAISE DEMAND FOR SMART ELEVATORS	81
9.4	INSTITUTIONAL	82
9.4.1	RISING DEMAND FOR NEW INSTITUTIONS IS LEADING TO GROWTH 
OF SEGMENT	82
9.5	INFRASTRUCTURAL	82
9.5.1	RAPID URBANIZATION IS DRIVING GROWTH OF SEGMENT	82
9.6	OTHERS	82
10	ELEVATORS & ESCALATORS MARKET, BY REGION	83
10.1	INTRODUCTION	84
TABLE 19	INTERIM ECONOMIC OUTLOOK FORECAST, 2019 TO 2021	85
FIGURE 30	ASIA PACIFIC TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD	86
TABLE 20	ELEVATORS & ESCALATORS MARKET SIZE, BY REGION, 
2019–2026 (USD MILLION)	86
TABLE 21	ELEVATORS & ESCALATORS MARKET SIZE, BY REGION, 
2019–2026 (THOUSAND UNITS)	86
10.2	ASIA PACIFIC	87
10.2.1	IMPACT OF COVID-19 IN ASIA PACIFIC	87
FIGURE 31	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SNAPSHOT	88
TABLE 22	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)	88
TABLE 23	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (THOUSAND UNITS)	89
TABLE 24	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	89
TABLE 25	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	89
TABLE 26	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	90
TABLE 27	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	90
10.2.2	CHINA	91
10.2.2.1	China to continue leading in Asia Pacific elevators 
& escalators market	91
TABLE 28	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	91
TABLE 29	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	91
TABLE 30	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	92
TABLE 31	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	92
10.2.3	INDIA	92
10.2.3.1	Government initiatives for 100 smart cities to fuel growth	92
TABLE 32	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	93
TABLE 33	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	93
TABLE 34	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	93
TABLE 35	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	94
10.2.4	JAPAN	94
10.2.4.1	Surging adoption of smart technologies to boost market	94
TABLE 36	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	94
TABLE 37	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	95
TABLE 38	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	95
TABLE 39	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	95
10.2.5	SOUTH KOREA	96
10.2.5.1	Increasing government initiatives for smart cities is 
boosting the market	96
TABLE 40	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	96
TABLE 41	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	96
TABLE 42	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	97
TABLE 43	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	97
10.2.6	REST OF ASIA PACIFIC	97
TABLE 44	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)	97
TABLE 45	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (THOUSAND UNITS)	98
TABLE 46	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	98
TABLE 47	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	98
10.3	EUROPE	99
TABLE 48	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 
2019–2026 (USD MILLION)	99
TABLE 49	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 
2019–2026 (THOUSAND UNITS)	99
TABLE 50	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	100
TABLE 51	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	100
TABLE 52	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	100
TABLE 53	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	101
10.3.1	UK	101
10.3.1.1	Market is growing due to innovation in development of smart cities and new technologies	101
TABLE 54	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	101
TABLE 55	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	102
TABLE 56	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	102
TABLE 57	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	102
10.3.2	GERMANY	103
10.3.2.1	Germany leads elevators & escalators market in Europe	103
TABLE 58	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	103
TABLE 59	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	103
TABLE 60	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	104
TABLE 61	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	104
10.3.3	FRANCE	104
10.3.3.1	Upgradation in elevator technology to boost market	104
TABLE 62	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	105
TABLE 63	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	105
TABLE 64	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	105
TABLE 65	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	106
10.3.4	ITALY	106
10.3.4.1	Increasing investment in construction industry to drive the market	106
TABLE 66	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	106
TABLE 67	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	107
TABLE 68	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	107
TABLE 69	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	107
10.3.5	SPAIN	108
10.3.5.1	Sustainability in construction industry to drive the market	108
TABLE 70	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	108
TABLE 71	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	108
TABLE 72	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	109
TABLE 73	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	109
10.3.6	REST OF EUROPE	109
TABLE 74	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	110
TABLE 75	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	110
TABLE 76	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	110
TABLE 77	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	111
10.4	NORTH AMERICA	111
TABLE 78	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)	111
TABLE 79	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (THOUSAND UNITS)	112
TABLE 80	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	112
TABLE 81	NORTH AMERICA: ELEVATORS &ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	112
TABLE 82	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	113
TABLE 83	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	113
10.4.1	US	113
10.4.1.1	US to lead market in North America by 2026	113
TABLE 84	US: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	114
TABLE 85	US: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	114
TABLE 86	US: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	114
TABLE 87	US: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	115
10.4.2	CANADA	115
10.4.2.1	Investment in residential segment to have growth opportunities	115
TABLE 88	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	115
TABLE 89	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	116
TABLE 90	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	116
TABLE 91	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	116
10.4.3	MEXICO	117
10.4.3.1	Growth of commercial constructions to accelerate market growth	117
TABLE 92	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	117
TABLE 93	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	117
TABLE 94	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	117
TABLE 95	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	118
10.5	MIDDLE EAST & AFRICA	118
10.5.1	IMPACT OF COVID-19 IN MIDDLE EAST & AFRICA	119
TABLE 96	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY COUNTRY, 2019–2026 (USD MILLION)	119
TABLE 97	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY COUNTRY, 2019–2026 (THOUSAND UNITS)	119
TABLE 98	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)	119
TABLE 99	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (THOUSAND UNITS)	120
TABLE 100	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	120
TABLE 101	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	120
10.5.2	UAE	121
10.5.2.1	Growing demand from commercial and infrastructure 
industries to boost market	121
TABLE 102	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	121
TABLE 103	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	121
TABLE 104	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	121
TABLE 105	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	122
10.5.3	SAUDI ARABIA	122
10.5.3.1	Increasing infrastructural spending to drive market	122
TABLE 106	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	122
TABLE 107	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	123
TABLE 108	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	123
TABLE 109	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	123
10.5.4	REST OF MIDDLE EAST & AFRICA	124
TABLE 110	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)	124
TABLE 111	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (THOUSAND UNITS)	124
TABLE 112	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	124
TABLE 113	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	125
10.6	SOUTH AMERICA	125
10.6.1	IMPACT OF COVID-19 IN SOUTH AMERICA	125
TABLE 114	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)	125
TABLE 115	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (THOUSAND UNITS)	126
TABLE 116	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	126
TABLE 117	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	126
TABLE 118	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	127
TABLE 119	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	127
10.6.2	BRAZIL	127
10.6.2.1	Increasing demand for residential & nonresidential construction 
is driving market growth	127
TABLE 120	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	128
TABLE 121	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	128
TABLE 122	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	128
TABLE 123	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	129
10.6.3	ARGENTINA	129
10.6.3.1	Residential to be the largest segment of elevators & escalators market in the country	129
TABLE 124	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	129
TABLE 125	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	129
TABLE 126	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	130
TABLE 127	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	130
10.6.4	REST OF SOUTH AMERICA	130
TABLE 128	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY TYPE, 2019–2026 (USD MILLION)	131
TABLE 129	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY TYPE, 2019–2026 (THOUSAND UNITS)	131
TABLE 130	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	131
TABLE 131	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	132
 
11	COMPETITIVE LANDSCAPE	133
11.1	OVERVIEW	133
11.2	KEY PLAYER STRATEGIES/RIGHT TO WIN	133
FIGURE 32	COMPANIES ADOPTED PRODUCT DEVELOPMENT AS KEY GROWTH 
STRATEGY, 2016–202O	134
11.3	MARKET RANKING	136
FIGURE 33	MARKET RANKING OF KEY PLAYERS, 2020	136
11.3.1	SCHINDLER GROUP	136
11.3.2	OTIS ELEVATOR	136
11.3.3	THYSSENKRUPP AG	137
11.3.4	KONE CORPORATION	137
11.3.5	HITACHI LTD.	137
11.4	REVENUE ANALYSIS OF TOP MARKET PLAYERS	137
FIGURE 34	REVENUE ANALYSIS FOR KEY COMPANIES IN ELEVATORS 
& ESCALATORS MARKET	138
11.5	MARKET SHARE ANALYSIS	138
TABLE 132	ELEVATOR AND ESCALATOR MARKET: MARKET SHARES OF KEY PLAYERS	139
FIGURE 35	SHARE OF LEADING COMPANIES IN ELEVATORS & ESCALATORS MARKET	139
11.6	COMPANY EVALUATION QUADRANT	140
FIGURE 36	ELEVATORS & ESCALATORS MARKET (GLOBAL) COMPANY 
EVALUATION MATRIX, 2020	140
11.6.1	STAR	141
11.6.2	PERVASIVE	141
11.6.3	EMERGING LEADER	141
11.6.4	PARTICIPANT	141
11.7	COMPETITIVE BENCHMARKING	142
FIGURE 37	STRENGTH OF PRODUCT PORTFOLIO	142
FIGURE 38	BUSINESS STRATEGY EXCELLENCE	143
TABLE 133	COMPANY SERVICE FOOTPRINT	144
TABLE 134	COMPANY TYPE FOOTPRINT	145
TABLE 135	COMPANY REGION FOOTPRINT	146
11.8	COMPETITIVE LEADERSHIP MAPPING OF SMES (SMALL AND 
MEDIUM-SIZED ENTERPRISES)	147
11.8.1	PROGRESSIVE COMPANIES	147
11.8.2	RESPONSIVE COMPANIES	147
11.8.3	STARTING BLOCKS	147
11.8.4	DYNAMIC COMPANIES	147
FIGURE 39	COMPETITIVE LEADERSHIP MAPPING OF SMES (SMALL AND 
MEDIUM-SIZED ENTERPRISES), 2020	148
11.9	COMPETITIVE SCENARIO AND TRENDS	149
11.9.1	DEALS	149
TABLE 136	ELEVATOR AND ESCALATOR MARKET: DEALS, MAY 2018 NOVEMBER 2021	149
11.9.2	OTHERS	150
TABLE 137	ELEVATOR AND ESCALATOR MARKET: OTHERS, MAY 2018 NOVEMBER 2021	150
12	COMPANY PROFILES	152
12.1	KEY COMPANIES	152
(Business Overview, Products and solutions, Recent Developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)*
12.1.1	SCHINDLER GROUP	152
TABLE 138	SCHINDLER GROUP: BUSINESS OVERVIEW	152
FIGURE 40	SCHINDLER GROUP: COMPANY SNAPSHOT	153
TABLE 139	VOESTALPINE AG: PRODUCT OFFERED	153
TABLE 140	SCHINDLER GROUP: DEALS	154
TABLE 141	SCHINDLER GROUP: OTHERS	155
12.1.2	OTIS ELEVATOR	156
TABLE 142	OTIS ELEVATOR: BUSINESS OVERVIEW	156
FIGURE 41	OTIS ELEVATOR: COMPANY SNAPSHOT	157
TABLE 143	OTIS ELEVATOR: PRODUCT OFFERED	157
TABLE 144	OTIS ELEVATOR: DEALS	158
12.1.3	THYSSENKRUPP AG	159
TABLE 145	THYSSENKRUPP AG: BUSINESS OVERVIEW	159
FIGURE 42	THYSSENKRUPP AG: COMPANY SNAPSHOT	160
TABLE 146	THYSSENKRUPP AG: PRODUCT OFFERED	161
TABLE 147	THYSSENKRUPP AG: DEALS	161
12.1.4	KONE CORPORATION	163
TABLE 148	KONE CORPORATION: BUSINESS OVERVIEW	163
FIGURE 43	KONE CORPORATION: COMPANY SNAPSHOT	164
TABLE 149	KONE CORPORATION: PRODUCT OFFERED	164
TABLE 150	KONE CORPORATION: OTHERS	165
12.1.5	HITACHI LTD.	167
TABLE 151	HITACHI LTD.: BUSINESS OVERVIEW	167
FIGURE 44	HITACHI LTD.: COMPANY SNAPSHOT	167
TABLE 152	HITACHI LTD.: PRODUCT OFFERED	168
TABLE 153	HITACHI LTD.: DEALS	168
12.1.6	HYUNDAI ELEVATOR	170
TABLE 154	HYUNDAI ELEVATOR: BUSINESS OVERVIEW	170
FIGURE 45	HYUNDAI ELEVATOR: COMPANY SNAPSHOT	170
TABLE 155	HYUNDAI ELEVATOR: PRODUCT OFFERED	171
TABLE 156	HYUNDAI ELEVATOR: OTHERS	171
 
12.1.7	FUJITEC CO., LTD.	172
TABLE 157	FUJITEC CO., LTD.: BUSINESS OVERVIEW	172
FIGURE 46	FUJITEC CO., LTD.: COMPANY SNAPSHOT	173
TABLE 158	FUJITEC CO., LTD.: PRODUCT OFFERED	173
12.1.8	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION	174
TABLE 159	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION: 
BUSINESS OVERVIEW	174
FIGURE 47	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION: 
COMPANY SNAPSHOT	175
TABLE 160	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION: 
PRODUCT OFFERED	175
12.1.9	MITSUBISHI ELECTRIC CORPORATION	177
TABLE 161	MITSUBISHI ELECTRIC CORPORATION: BUSINESS OVERVIEW	177
FIGURE 48	MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT	178
TABLE 162	MITSUBISHI ELECTRIC CORPORATION: PRODUCT OFFERED	178
TABLE 163	MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES	179
12.2	OTHER KEY PLAYERS	181
12.2.1	KLEEMANN	181
TABLE 164	KLEEMANN: COMPANY OVERVIEW	181
12.2.2	SIGMA ELEVATOR COMPANY	182
TABLE 165	SIGMA ELEVATOR COMPANY: COMPANY OVERVIEW	182
12.2.3	ELECTRA ELEVATORS	183
TABLE 166	ELECTRA ELEVATORS: COMPANY OVERVIEW	183
12.2.4	ESCON ELEVATORS	183
TABLE 167	ESCON ELEVATORS: COMPANY OVERVIEW	183
12.2.5	SHENYANG YUANDA INTELLECTUAL INDUSTRY GROUP CO., LTD.	184
TABLE 168	SHENYANG YUANDA INTELLECTUAL INDUSTRY GROUP CO., LTD: 
COMPANY OVERVIEW	184
12.2.6	ORONA	184
TABLE 169	ORONA: COMPANY OVERVIEW	184
12.2.7	EITA ELEVATOR	185
TABLE 170	EITA ELEVATOR: COMPANY OVERVIEW	185
12.2.8	GLARIE ELEVATOR GROUP	185
TABLE 171	GLARIE ELEVATOR GROUP: COMPANY OVERVIEW	185
12.2.9	AARON INDUSTRIES LTD.	186
TABLE 172	AARON INDUSTRIES LTD.: COMPANY OVERVIEW	186
12.2.10	LEO ELEVATORS	186
TABLE 173	LEO ELEVATORS: COMPANY OVERVIEW	186
12.2.11	TRIO ELEVATORS CO (INDIA) PRIVATE LIMITED	187
TABLE 174	TRIO ELEVATORS CO (INDIA) PRIVATE LIMITED: COMPANY OVERVIEW	187
 
12.2.12	STANNAH GROUP	188
TABLE 175	STANNAH GROUP: COMPANY OVERVIEW	188
12.2.13	CIBES LIFT GROUP AB	189
TABLE 176	CIBES LIFT GROUP AB: COMPANY OVERVIEW	189
12.2.14	WALTON GROUP	189
TABLE 177	WALTON GROUP: COMPANY OVERVIEW	189
12.2.15	EXPEDITE TECHNOLOGIES	190
TABLE 178	EXPEDITE TECHNOLOGIES: COMPANY OVERVIEW	190
*Details on Business Overview, Products and solutions, Recent Developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.
13	APPENDIX	191
13.1	DISCUSSION GUIDE	191
13.2	KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL	195
13.3	AVAILABLE CUSTOMIZATIONS	197
13.4	RELATED REPORTS	197
13.5	AUTHOR DETAILS	198
			       1	INTRODUCTION	29
1.1	STUDY OBJECTIVES	29
1.2	MARKET DEFINITION	29
1.3	MARKET SCOPE	30
FIGURE 1	ELEVATORS & ESCALATORS MARKET SEGMENTATION	30
1.3.1	REGIONAL SCOPE	30
1.3.2	YEARS CONSIDERED	31
1.4	CURRENCY CONSIDERED	31
1.5	UNIT CONSIDERED	31
1.6	STAKEHOLDERS	31
1.7	LIMITATIONS	32
1.8	SUMMARY OF CHANGES	32
2	RESEARCH METHODOLOGY	33
2.1	RESEARCH DATA	33
FIGURE 2	ELEVATORS & ESCALATORS MARKET: RESEARCH DESIGN	33
2.2	MARKET SIZE ESTIMATION	34
FIGURE 3	APPROACH 1: BOTTOM-UP APPROACH	34
FIGURE 4	APPROACH 2: TOP-DOWN APPROACH	34
2.3	DATA TRIANGULATION	35
2.3.1	SECONDARY DATA	35
2.3.2	PRIMARY DATA	35
FIGURE 5	DATA TRIANGULATION	36
2.4	KEY MARKET INSIGHTS	36
FIGURE 6	LIST OF STAKEHOLDERS INVOLVED AND BREAKDOWN OF 
PRIMARY INTERVIEWS	37
2.5	RESEARCH ASSUMPTIONS & LIMITATIONS	37
2.5.1	ASSUMPTIONS	37
2.5.2	LIMITATIONS	38
2.5.3	RISK ASSESSMENT	38
TABLE 1	LIMITATIONS & ASSOCIATED RISKS	38
TABLE 2	RISKS	38
3	EXECUTIVE SUMMARY	39
FIGURE 7	NEW INSTALLATION TO BE LARGEST SERVICE SEGMENT OF 
ELEVATORS & ESCALATORS MARKET	39
FIGURE 8	RESIDENTIAL TO BE FASTEST-GROWING END-USE INDUSTRY 
MARKET SEGMENT	40
FIGURE 9	ASIA PACIFIC TO BE FASTEST-GROWING ELEVATORS & ESCALATORS MARKET	40
4	PREMIUM INSIGHTS	42
4.1	ASIA PACIFIC TO GROW AT A HIGHER RATE DUE TO RAPID INDUSTRIALIZATION 
AND INCREASING END-USE INDUSTRIES	42
FIGURE 10	EXPANSIONS AND ACQUISITIONS TO OFFER LUCRATIVE OPPORTUNITIES 
IN ELEVATORS & ESCALATORS MARKET	42
4.2	ELEVATORS & ESCALATORS MARKET, BY ELEVATOR TECHNOLOGY	42
FIGURE 11	MACHINE-ROOM-LESS TRACTION ELEVATOR SEGMENT TO BE THE FASTEST-GROWING ELEVATOR TECHNOLOGY	42
4.3	ELEVATORS & ESCALATORS MARKET, BY TYPE	43
FIGURE 12	ELEVATORS TYPE SEGMENT TO LEAD ELEVATORS & ESCALATORS MARKET	43
4.4	ELEVATORS & ESCALATORS MARKET, BY REGION AND END-USE INDUSTRY	43
FIGURE 13	ASIA PACIFIC AND RESIDENTIAL LED THEIR RESPECTIVE SEGMENTS 
IN ELEVATORS & ESCALATORS MARKET IN 2020	43
5	MARKET OVERVIEW	44
5.1	INTRODUCTION	44
5.2	MARKET DYNAMICS	44
FIGURE 14	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: 
ELEVATORS & ESCALATORS MARKET	44
5.2.1	DRIVERS	45
5.2.1.1	Increased construction of high-rise buildings equipped with smart vertical transportation systems due to rapid urbanization	45
FIGURE 15	URBAN AND RURAL POPULATION 1950–2050	45
5.2.1.2	Growing need for reducing energy consumption in buildings	46
5.2.1.3	Growing aging population to facilitate development of better infrastructure within buildings	46
FIGURE 16	NUMBER OF PEOPLE AGED 65 YEARS AND ABOVE, BY REGION, 
2019 AND 2050	46
5.2.2	RESTRAINTS	47
5.2.2.1	Uncertainty and risk regarding global economy	47
5.2.2.2	High maintenance cost	47
5.2.3	OPPORTUNITIES	47
5.2.3.1	Adoption of green building codes and energy-efficient products	47
5.2.3.2	Development of innovative technologies and rising demand 
for smart elevators	48
5.2.4	CHALLENGES	48
5.2.4.1	Compliance with standards and regulations	48
5.2.4.2	Economic slowdown	48
5.3	PORTER’S FIVE FORCES ANALYSIS	49
FIGURE 17	ELEVATORS & ESCALATORS MARKET: PORTER'S FIVE FORCES ANALYSIS	49
TABLE 3	ELEVATORS & ESCALATORS MARKET: PORTER’S FIVE FORCES ANALYSIS	49
5.3.1	THREAT OF NEW ENTRANTS	50
5.3.2	THREAT OF SUBSTITUTES	50
5.3.3	BARGAINING POWER OF SUPPLIERS	50
5.3.4	BARGAINING POWER OF BUYERS	50
5.3.5	INTENSITY OF COMPETITIVE RIVALRY	50
5.4	VALUE CHAIN	51
FIGURE 18	ELEVATORS & ESCALATORS MARKET: VALUE CHAIN	51
5.4.1	RESEARCH & DEVELOPMENT	51
5.4.2	COMPONENT MANUFACTURER	51
5.4.3	MANUFACTURER	51
5.4.4	SOFTWARE & SERVICE	51
5.4.5	INTEGRATOR	52
5.4.6	END-USE APPLICATION	52
5.5	TRENDS & DISRUPTIONS IMPACTING CUSTOMERS	52
5.5.1	REVENUE SHIFT & NEW REVENUE POCKETS FOR ELEVATORS 
& ESCALATORS MANUFACTURERS	52
FIGURE 19	REVENUE SHIFT FOR ELEVATORS & ESCALATORS MANUFACTURERS	52
5.6	REGULATORY LANDSCAPE	53
5.6.1	CONTAINER COMPLIANCE OPTIONS FOR SAFETY AND ACCESSIBILITY 
IN EUROPE	53
5.6.2	LIFT/ELEVATOR STANDARDS IN ASIA PACIFIC (INDIA)	53
5.7	TECHNOLOGY TRENDS	54
5.7.1	ADOPTION OF ECO-FRIENDLY PRODUCTS	54
5.7.2	ARTIFICIAL INTELLIGENCE	54
5.7.3	INTUITIVE ELEVATOR TECHNOLOGY	54
5.7.4	INTERNET OF THINGS	54
5.7.5	CONNECTIVITY 5G TECHNOLOGY	54
5.8	CASE STUDY ANALYSIS	55
5.8.1	CASE STUDY 1: ELEVATORS GURGAON MEDANTA	55
5.8.2	CASE STUDY 2: ENERGY-EFFICIENT BUILDING INITIATIVE MUMBAI- 
THE RUBY BUILDING SYSTEMS – ELEVATORS	55
5.8.3	CASE STUDY 3: HONEYWELL- CORPORATE OFFICE RENOVATIONS	56
5.8.4	CASE STUDY 4: KONE CORPORATION- 180 BRISBANE COMMERCIAL OFFICES, AUSTRALIA	56
5.9	ECOSYSTEM	57
FIGURE 20	ECOSYSTEM FOR ELEVATORS & ESCALATORS MARKET	57
5.10	PRICING ANALYSIS	57
TABLE 4	AVERAGE PRICES OF ELEVATORS & ESCALATORS, BY REGION (USD/UNIT)	58
5.11	TRADE ANALYSIS	58
TABLE 5	ELEVATORS & ESCALATORS IMPORT TRADE DATA, 2020 (USD THOUSAND)	58
TABLE 6	ELEVATORS & ESCALATORS EXPORT TRADE DATA, 2020 (USD THOUSAND)	59
5.12	PATENT ANALYSIS	60
5.12.1	INTRODUCTION	60
5.12.2	METHODOLOGY	60
5.12.3	DOCUMENT TYPE	60
FIGURE 21	TOTAL PATENTS- LAST 10 YEARS	61
FIGURE 22	PUBLICATION TRENDS - LAST 10 YEARS	61
5.12.4	INSIGHT	61
5.12.5	LEGAL STATUS OF THE PATENTS	62
FIGURE 23	LEGAL STATUS OF THE PATENTS	62
5.12.6	JURISDICTION ANALYSIS	62
FIGURE 24	JURISDICTION ANALYSIS	62
5.12.7	TOP COMPANIES/APPLICANTS	63
FIGURE 25	TOP COMPANIES/APPLICANTS	63
TABLE 7	LIST OF PATENTS BY MITSUBISHI ELECTRIC CORPORATION.	63
TABLE 8	LIST OF PATENTS BY OTIS ELEVATOR COMPANY	64
TABLE 9	LIST OF PATENTS BY KONE CORPORATION	65
TABLE 10	TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS	66
5.13	COVID-19 IMPACT ON ELEVATORS & ESCALATORS MARKET	67
5.13.1	COVID-19 IMPACT ON CONSTRUCTION INDUSTRY	67
6	ELEVATORS & ESCALATORS MARKET, BY TYPE	68
6.1	INTRODUCTION	69
FIGURE 26	ELEVATOR TYPE SEGMENT TO LEAD ELEVATORS & ESCALATORS MARKET	69
TABLE 11	ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	69
TABLE 12	ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	69
6.2	ELEVATORS	70
6.2.1	ELEVATORS SEGMENT TO DOMINATE THE MARKET	70
6.2.2	PASSENGER ELEVATOR	70
6.2.2.1	Bed elevator	70
6.2.2.2	Service elevator	70
6.2.2.3	Observation elevator	71
6.2.2.4	Residential elevator	71
6.2.3	FREIGHT ELEVATOR	71
6.2.3.1	Dumbwaiters	71
6.2.3.2	Vehicle elevators	71
6.2.4	OTHERS	72
6.3	ESCALATORS	72
6.3.1	BOOM IN REAL ESTATE SECTOR AND NEED FOR EFFICIENT & RAPID 
TRANSIT SYSTEMS ARE DRIVING MARKET	72
6.4	MOVING WALKWAYS	72
6.4.1	MUSHROOMING OF AIRPORTS AND SHOPPING MALLS IS DRIVING MARKET	72
7	ELEVATORS & ESCALATORS MARKET, BY ELEVATOR TECHNOLOGY	73
7.1	INTRODUCTION	74
FIGURE 27	MACHINE-ROOM-LESS TRACTION ELEVATOR SEGMENT TO BE THE FASTEST-GROWING SEGMENT	74
TABLE 13	ELEVATORS & ESCALATORS MARKET SIZE, BY ELEVATOR TECHNOLOGY, 2019–2026 (USD MILLION)	74
TABLE 14	ELEVATORS & ESCALATORS MARKET SIZE, BY ELEVATOR TECHNOLOGY, 2019–2026 (THOUSAND UNITS)	74
7.2	TRACTION ELEVATOR	75
7.2.1	LIGHTWEIGHT PROPERTIES DRIVE MARKET GROWTH	75
7.3	MACHINE-ROOM-LESS TRACTION ELEVATOR	75
7.3.1	COST-EFFECTIVENESS AND SUPERIOR PERFORMANCE OF 
TECHNOLOGY DRIVE SEGMENT	75
7.4	HYDRAULIC	75
7.4.1	TECHNICAL SPECIALITIES OF TECHNOLOGY HAS LED TO INCREASE 
IN DEMAND FOR SEGMENT	75
8	ELEVATORS & ESCALATORS MARKET, BY SERVICE	76
8.1	INTRODUCTION	77
FIGURE 28	NEW INSTALLATION TO BE LARGEST SERVICE SEGMENT DURING 
FORECAST PERIOD	77
TABLE 15	ELEVATORS & ESCALATORS MARKET SIZE, BY SERVICE, 
2019–2026 (USD MILLION)	77
TABLE 16	ELEVATORS & ESCALATORS MARKET SIZE, BY SERVICE, 
2019–2026 (THOUSAND UNITS)	77
8.2	NEW INSTALLATION	78
8.2.1	SURGE IN URBANIZATION AND RISE IN CONSTRUCTION ACTIVITIES 
TO DRIVE THE SEGMENT	78
8.3	MAINTENANCE & REPAIR	78
8.3.1	GROWING CONCERN TOWARD AGING ELEVATORS IS DRIVING SEGMENT	78
8.4	MODERNIZATION	78
8.4.1	INNOVATIVE TECHNOLOGIES AND NEED TO REPLACE AGING AND OBSOLETE SYSTEMS ARE DRIVING MARKET FOR SEGMENT	78
9	ELEVATORS & ESCALATORS MARKET, BY END-USE INDUSTRY	79
9.1	INTRODUCTION	80
FIGURE 29	RESIDENTIAL TO BE FASTEST-GROWING END-USE INDUSTRY SEGMENT	80
TABLE 17	ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 
2019–2026 (USD MILLION)	80
TABLE 18	ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 
2019–2026 (THOUSAND UNITS)	81
9.2	RESIDENTIAL	81
9.2.1	GROWING HIGH-RISE RESIDENTIAL BUILDING CONSTRUCTION IS 
FUELING DEMAND FOR ENERGY-EFFICIENT ELEVATORS	81
9.3	COMMERCIAL	81
9.3.1	NEED TO OPTIMIZE TRAFFIC FLOW IN ELEVATORS IN COMMERCIAL 
SPACES TO RAISE DEMAND FOR SMART ELEVATORS	81
9.4	INSTITUTIONAL	82
9.4.1	RISING DEMAND FOR NEW INSTITUTIONS IS LEADING TO GROWTH 
OF SEGMENT	82
9.5	INFRASTRUCTURAL	82
9.5.1	RAPID URBANIZATION IS DRIVING GROWTH OF SEGMENT	82
9.6	OTHERS	82
10	ELEVATORS & ESCALATORS MARKET, BY REGION	83
10.1	INTRODUCTION	84
TABLE 19	INTERIM ECONOMIC OUTLOOK FORECAST, 2019 TO 2021	85
FIGURE 30	ASIA PACIFIC TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD	86
TABLE 20	ELEVATORS & ESCALATORS MARKET SIZE, BY REGION, 
2019–2026 (USD MILLION)	86
TABLE 21	ELEVATORS & ESCALATORS MARKET SIZE, BY REGION, 
2019–2026 (THOUSAND UNITS)	86
10.2	ASIA PACIFIC	87
10.2.1	IMPACT OF COVID-19 IN ASIA PACIFIC	87
FIGURE 31	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SNAPSHOT	88
TABLE 22	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)	88
TABLE 23	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (THOUSAND UNITS)	89
TABLE 24	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	89
TABLE 25	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	89
TABLE 26	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	90
TABLE 27	ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	90
10.2.2	CHINA	91
10.2.2.1	China to continue leading in Asia Pacific elevators 
& escalators market	91
TABLE 28	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	91
TABLE 29	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	91
TABLE 30	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	92
TABLE 31	CHINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	92
10.2.3	INDIA	92
10.2.3.1	Government initiatives for 100 smart cities to fuel growth	92
TABLE 32	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	93
TABLE 33	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	93
TABLE 34	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	93
TABLE 35	INDIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	94
10.2.4	JAPAN	94
10.2.4.1	Surging adoption of smart technologies to boost market	94
TABLE 36	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	94
TABLE 37	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	95
TABLE 38	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	95
TABLE 39	JAPAN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	95
10.2.5	SOUTH KOREA	96
10.2.5.1	Increasing government initiatives for smart cities is 
boosting the market	96
TABLE 40	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	96
TABLE 41	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	96
TABLE 42	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	97
TABLE 43	SOUTH KOREA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	97
10.2.6	REST OF ASIA PACIFIC	97
TABLE 44	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)	97
TABLE 45	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (THOUSAND UNITS)	98
TABLE 46	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	98
TABLE 47	REST OF ASIA PACIFIC: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	98
10.3	EUROPE	99
TABLE 48	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 
2019–2026 (USD MILLION)	99
TABLE 49	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 
2019–2026 (THOUSAND UNITS)	99
TABLE 50	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	100
TABLE 51	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	100
TABLE 52	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	100
TABLE 53	EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	101
10.3.1	UK	101
10.3.1.1	Market is growing due to innovation in development of smart cities and new technologies	101
TABLE 54	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	101
TABLE 55	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	102
TABLE 56	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	102
TABLE 57	UK: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	102
10.3.2	GERMANY	103
10.3.2.1	Germany leads elevators & escalators market in Europe	103
TABLE 58	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	103
TABLE 59	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	103
TABLE 60	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	104
TABLE 61	GERMANY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	104
10.3.3	FRANCE	104
10.3.3.1	Upgradation in elevator technology to boost market	104
TABLE 62	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	105
TABLE 63	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	105
TABLE 64	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	105
TABLE 65	FRANCE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	106
10.3.4	ITALY	106
10.3.4.1	Increasing investment in construction industry to drive the market	106
TABLE 66	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	106
TABLE 67	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	107
TABLE 68	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	107
TABLE 69	ITALY: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	107
10.3.5	SPAIN	108
10.3.5.1	Sustainability in construction industry to drive the market	108
TABLE 70	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	108
TABLE 71	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	108
TABLE 72	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	109
TABLE 73	SPAIN: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	109
10.3.6	REST OF EUROPE	109
TABLE 74	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	110
TABLE 75	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	110
TABLE 76	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	110
TABLE 77	REST OF EUROPE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	111
10.4	NORTH AMERICA	111
TABLE 78	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)	111
TABLE 79	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (THOUSAND UNITS)	112
TABLE 80	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	112
TABLE 81	NORTH AMERICA: ELEVATORS &ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	112
TABLE 82	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	113
TABLE 83	NORTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	113
10.4.1	US	113
10.4.1.1	US to lead market in North America by 2026	113
TABLE 84	US: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	114
TABLE 85	US: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	114
TABLE 86	US: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	114
TABLE 87	US: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	115
10.4.2	CANADA	115
10.4.2.1	Investment in residential segment to have growth opportunities	115
TABLE 88	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	115
TABLE 89	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	116
TABLE 90	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	116
TABLE 91	CANADA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	116
10.4.3	MEXICO	117
10.4.3.1	Growth of commercial constructions to accelerate market growth	117
TABLE 92	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	117
TABLE 93	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	117
TABLE 94	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	117
TABLE 95	MEXICO: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	118
10.5	MIDDLE EAST & AFRICA	118
10.5.1	IMPACT OF COVID-19 IN MIDDLE EAST & AFRICA	119
TABLE 96	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY COUNTRY, 2019–2026 (USD MILLION)	119
TABLE 97	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY COUNTRY, 2019–2026 (THOUSAND UNITS)	119
TABLE 98	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)	119
TABLE 99	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (THOUSAND UNITS)	120
TABLE 100	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	120
TABLE 101	MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	120
10.5.2	UAE	121
10.5.2.1	Growing demand from commercial and infrastructure 
industries to boost market	121
TABLE 102	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	121
TABLE 103	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	121
TABLE 104	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	121
TABLE 105	UAE: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	122
10.5.3	SAUDI ARABIA	122
10.5.3.1	Increasing infrastructural spending to drive market	122
TABLE 106	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	122
TABLE 107	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	123
TABLE 108	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	123
TABLE 109	SAUDI ARABIA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	123
10.5.4	REST OF MIDDLE EAST & AFRICA	124
TABLE 110	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)	124
TABLE 111	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 2019–2026 (THOUSAND UNITS)	124
TABLE 112	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	124
TABLE 113	REST OF MIDDLE EAST & AFRICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	125
10.6	SOUTH AMERICA	125
10.6.1	IMPACT OF COVID-19 IN SOUTH AMERICA	125
TABLE 114	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)	125
TABLE 115	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY COUNTRY, 2019–2026 (THOUSAND UNITS)	126
TABLE 116	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	126
TABLE 117	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	126
TABLE 118	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	127
TABLE 119	SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	127
10.6.2	BRAZIL	127
10.6.2.1	Increasing demand for residential & nonresidential construction 
is driving market growth	127
TABLE 120	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	128
TABLE 121	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	128
TABLE 122	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	128
TABLE 123	BRAZIL: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	129
10.6.3	ARGENTINA	129
10.6.3.1	Residential to be the largest segment of elevators & escalators market in the country	129
TABLE 124	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (USD MILLION)	129
TABLE 125	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY TYPE, 
2019–2026 (THOUSAND UNITS)	129
TABLE 126	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	130
TABLE 127	ARGENTINA: ELEVATORS & ESCALATORS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	130
10.6.4	REST OF SOUTH AMERICA	130
TABLE 128	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY TYPE, 2019–2026 (USD MILLION)	131
TABLE 129	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY TYPE, 2019–2026 (THOUSAND UNITS)	131
TABLE 130	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (USD MILLION)	131
TABLE 131	REST OF SOUTH AMERICA: ELEVATORS & ESCALATORS MARKET SIZE, 
BY END-USE INDUSTRY, 2019–2026 (THOUSAND UNITS)	132
 
11	COMPETITIVE LANDSCAPE	133
11.1	OVERVIEW	133
11.2	KEY PLAYER STRATEGIES/RIGHT TO WIN	133
FIGURE 32	COMPANIES ADOPTED PRODUCT DEVELOPMENT AS KEY GROWTH 
STRATEGY, 2016–202O	134
11.3	MARKET RANKING	136
FIGURE 33	MARKET RANKING OF KEY PLAYERS, 2020	136
11.3.1	SCHINDLER GROUP	136
11.3.2	OTIS ELEVATOR	136
11.3.3	THYSSENKRUPP AG	137
11.3.4	KONE CORPORATION	137
11.3.5	HITACHI LTD.	137
11.4	REVENUE ANALYSIS OF TOP MARKET PLAYERS	137
FIGURE 34	REVENUE ANALYSIS FOR KEY COMPANIES IN ELEVATORS 
& ESCALATORS MARKET	138
11.5	MARKET SHARE ANALYSIS	138
TABLE 132	ELEVATOR AND ESCALATOR MARKET: MARKET SHARES OF KEY PLAYERS	139
FIGURE 35	SHARE OF LEADING COMPANIES IN ELEVATORS & ESCALATORS MARKET	139
11.6	COMPANY EVALUATION QUADRANT	140
FIGURE 36	ELEVATORS & ESCALATORS MARKET (GLOBAL) COMPANY 
EVALUATION MATRIX, 2020	140
11.6.1	STAR	141
11.6.2	PERVASIVE	141
11.6.3	EMERGING LEADER	141
11.6.4	PARTICIPANT	141
11.7	COMPETITIVE BENCHMARKING	142
FIGURE 37	STRENGTH OF PRODUCT PORTFOLIO	142
FIGURE 38	BUSINESS STRATEGY EXCELLENCE	143
TABLE 133	COMPANY SERVICE FOOTPRINT	144
TABLE 134	COMPANY TYPE FOOTPRINT	145
TABLE 135	COMPANY REGION FOOTPRINT	146
11.8	COMPETITIVE LEADERSHIP MAPPING OF SMES (SMALL AND 
MEDIUM-SIZED ENTERPRISES)	147
11.8.1	PROGRESSIVE COMPANIES	147
11.8.2	RESPONSIVE COMPANIES	147
11.8.3	STARTING BLOCKS	147
11.8.4	DYNAMIC COMPANIES	147
FIGURE 39	COMPETITIVE LEADERSHIP MAPPING OF SMES (SMALL AND 
MEDIUM-SIZED ENTERPRISES), 2020	148
11.9	COMPETITIVE SCENARIO AND TRENDS	149
11.9.1	DEALS	149
TABLE 136	ELEVATOR AND ESCALATOR MARKET: DEALS, MAY 2018 NOVEMBER 2021	149
11.9.2	OTHERS	150
TABLE 137	ELEVATOR AND ESCALATOR MARKET: OTHERS, MAY 2018 NOVEMBER 2021	150
12	COMPANY PROFILES	152
12.1	KEY COMPANIES	152
(Business Overview, Products and solutions, Recent Developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)*
12.1.1	SCHINDLER GROUP	152
TABLE 138	SCHINDLER GROUP: BUSINESS OVERVIEW	152
FIGURE 40	SCHINDLER GROUP: COMPANY SNAPSHOT	153
TABLE 139	VOESTALPINE AG: PRODUCT OFFERED	153
TABLE 140	SCHINDLER GROUP: DEALS	154
TABLE 141	SCHINDLER GROUP: OTHERS	155
12.1.2	OTIS ELEVATOR	156
TABLE 142	OTIS ELEVATOR: BUSINESS OVERVIEW	156
FIGURE 41	OTIS ELEVATOR: COMPANY SNAPSHOT	157
TABLE 143	OTIS ELEVATOR: PRODUCT OFFERED	157
TABLE 144	OTIS ELEVATOR: DEALS	158
12.1.3	THYSSENKRUPP AG	159
TABLE 145	THYSSENKRUPP AG: BUSINESS OVERVIEW	159
FIGURE 42	THYSSENKRUPP AG: COMPANY SNAPSHOT	160
TABLE 146	THYSSENKRUPP AG: PRODUCT OFFERED	161
TABLE 147	THYSSENKRUPP AG: DEALS	161
12.1.4	KONE CORPORATION	163
TABLE 148	KONE CORPORATION: BUSINESS OVERVIEW	163
FIGURE 43	KONE CORPORATION: COMPANY SNAPSHOT	164
TABLE 149	KONE CORPORATION: PRODUCT OFFERED	164
TABLE 150	KONE CORPORATION: OTHERS	165
12.1.5	HITACHI LTD.	167
TABLE 151	HITACHI LTD.: BUSINESS OVERVIEW	167
FIGURE 44	HITACHI LTD.: COMPANY SNAPSHOT	167
TABLE 152	HITACHI LTD.: PRODUCT OFFERED	168
TABLE 153	HITACHI LTD.: DEALS	168
12.1.6	HYUNDAI ELEVATOR	170
TABLE 154	HYUNDAI ELEVATOR: BUSINESS OVERVIEW	170
FIGURE 45	HYUNDAI ELEVATOR: COMPANY SNAPSHOT	170
TABLE 155	HYUNDAI ELEVATOR: PRODUCT OFFERED	171
TABLE 156	HYUNDAI ELEVATOR: OTHERS	171
 
12.1.7	FUJITEC CO., LTD.	172
TABLE 157	FUJITEC CO., LTD.: BUSINESS OVERVIEW	172
FIGURE 46	FUJITEC CO., LTD.: COMPANY SNAPSHOT	173
TABLE 158	FUJITEC CO., LTD.: PRODUCT OFFERED	173
12.1.8	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION	174
TABLE 159	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION: 
BUSINESS OVERVIEW	174
FIGURE 47	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION: 
COMPANY SNAPSHOT	175
TABLE 160	TOSHIBA ELEVATORS AND BUILDING SYSTEMS CORPORATION: 
PRODUCT OFFERED	175
12.1.9	MITSUBISHI ELECTRIC CORPORATION	177
TABLE 161	MITSUBISHI ELECTRIC CORPORATION: BUSINESS OVERVIEW	177
FIGURE 48	MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT	178
TABLE 162	MITSUBISHI ELECTRIC CORPORATION: PRODUCT OFFERED	178
TABLE 163	MITSUBISHI ELECTRIC CORPORATION: PRODUCT LAUNCHES	179
12.2	OTHER KEY PLAYERS	181
12.2.1	KLEEMANN	181
TABLE 164	KLEEMANN: COMPANY OVERVIEW	181
12.2.2	SIGMA ELEVATOR COMPANY	182
TABLE 165	SIGMA ELEVATOR COMPANY: COMPANY OVERVIEW	182
12.2.3	ELECTRA ELEVATORS	183
TABLE 166	ELECTRA ELEVATORS: COMPANY OVERVIEW	183
12.2.4	ESCON ELEVATORS	183
TABLE 167	ESCON ELEVATORS: COMPANY OVERVIEW	183
12.2.5	SHENYANG YUANDA INTELLECTUAL INDUSTRY GROUP CO., LTD.	184
TABLE 168	SHENYANG YUANDA INTELLECTUAL INDUSTRY GROUP CO., LTD: 
COMPANY OVERVIEW	184
12.2.6	ORONA	184
TABLE 169	ORONA: COMPANY OVERVIEW	184
12.2.7	EITA ELEVATOR	185
TABLE 170	EITA ELEVATOR: COMPANY OVERVIEW	185
12.2.8	GLARIE ELEVATOR GROUP	185
TABLE 171	GLARIE ELEVATOR GROUP: COMPANY OVERVIEW	185
12.2.9	AARON INDUSTRIES LTD.	186
TABLE 172	AARON INDUSTRIES LTD.: COMPANY OVERVIEW	186
12.2.10	LEO ELEVATORS	186
TABLE 173	LEO ELEVATORS: COMPANY OVERVIEW	186
12.2.11	TRIO ELEVATORS CO (INDIA) PRIVATE LIMITED	187
TABLE 174	TRIO ELEVATORS CO (INDIA) PRIVATE LIMITED: COMPANY OVERVIEW	187
 
12.2.12	STANNAH GROUP	188
TABLE 175	STANNAH GROUP: COMPANY OVERVIEW	188
12.2.13	CIBES LIFT GROUP AB	189
TABLE 176	CIBES LIFT GROUP AB: COMPANY OVERVIEW	189
12.2.14	WALTON GROUP	189
TABLE 177	WALTON GROUP: COMPANY OVERVIEW	189
12.2.15	EXPEDITE TECHNOLOGIES	190
TABLE 178	EXPEDITE TECHNOLOGIES: COMPANY OVERVIEW	190
*Details on Business Overview, Products and solutions, Recent Developments, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.
13	APPENDIX	191
13.1	DISCUSSION GUIDE	191
13.2	KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL	195
13.3	AVAILABLE CUSTOMIZATIONS	197
13.4	RELATED REPORTS	197
13.5	AUTHOR DETAILS	198
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			       1	INTRODUCTION	32
1.1	STUDY OBJECTIVES	32
1.2	MARKET DEFINITION	32
1.3	MARKET SCOPE	33
1.3.1	MARKET SEGMENTATION	33
1.3.2	REGIONS COVERED	33
1.3.3	YEARS CONSIDERED	34
1.4	CURRENCY	34
1.5	STAKEHOLDERS	34
1.6	SUMMARY OF CHANGES	35
2	RESEARCH METHODOLOGY	36
2.1	RESEARCH DATA	36
FIGURE 1	INSULATION PRODUCTS MARKET: RESEARCH DESIGN	36
2.1.1	SECONDARY DATA	37
2.1.1.1	Key data from secondary sources	37
2.1.2	PRIMARY DATA	37
2.1.2.1	Key data from primary sources	38
2.1.2.2	Breakdown of primary interviews	38
2.2	MARKET SIZE ESTIMATION	39
2.2.1	BOTTOM-UP APPROACH	39
FIGURE 2	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	39
2.2.2	TOP-DOWN APPROACH	40
FIGURE 3	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	40
FIGURE 4	METHODOLOGY FOR “DEMAND-SIDE” SIZING OF INSULATION PRODUCTS MARKET	40
FIGURE 5	METHODOLOGY FOR “SUPPLY-SIDE” SIZING OF INSULATION PRODUCTS MARKET (1/2)	41
FIGURE 6	METHODOLOGY FOR “SUPPLY SIDE” SIZING OF INSULATION PRODUCTS MARKET (2/2)	41
2.3	DATA TRIANGULATION	42
FIGURE 7	INSULATION PRODUCTS MARKET: DATA TRIANGULATION	42
2.4	RESEARCH ASSUMPTIONS	43
2.5	LIMITATIONS	43
3	EXECUTIVE SUMMARY	44
FIGURE 8	MINERAL WOOL INSULATION PRODUCTS MARKET, BY MATERIAL TYPE	45
FIGURE 9	BUILDING & CONSTRUCTION TO ACCOUNT FOR LARGEST SHARE IN INSULATION PRODUCTS MARKET IN 2021	45
FIGURE 10	ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN INSULATION PRODUCTS MARKET IN 2021	46
4	PREMIUM INSIGHTS	48
4.1	ATTRACTIVE OPPORTUNITIES IN INSULATION PRODUCTS MARKET	48
FIGURE 11	DEMAND FOR INSULATION PRODUCTS TO INCREASE IN ASIA PACIFIC DURING FORECAST PERIOD	48
4.2	INSULATION PRODUCTS MARKET, BY REGION	48
FIGURE 12	ASIA PACIFIC HELD LARGEST MARKET SIZE IN 2020	48
4.3	INSULATION PRODUCTS MARKET IN ASIA PACIFIC, BY MATERIAL TYPE AND COUNTRY	49
FIGURE 13	PUF AND CHINA ACCOUNTED FOR LARGEST SHARES OF INSULATION PRODUCTS MARKET IN ASIA PACIFIC	49
4.4	INSULATION PRODUCTS MARKET, BY REGION AND MATERIAL TYPE, IN 2020	50
FIGURE 14	MINERAL WOOL ACCOUNTED FOR LARGEST MARKET SHARE IN EUROPE	50
4.5	INSULATION PRODUCTS MARKET: MAJOR COUNTRIES	50
FIGURE 15	CHINA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD	50
5	MARKET OVERVIEW	51
5.1	INTRODUCTION	51
5.2	MARKET DYNAMICS	51
FIGURE 16	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN INSULATION PRODUCTS MARKET	51
5.2.1	DRIVERS	52
5.2.1.1	Growing steel and aluminum industries in developing nations	52
TABLE 1	STEEL PRODUCTION, BY COUNTRY, 2020	52
5.2.1.2	Increasing awareness about acoustic insulation in building & construction industry	53
5.2.1.3	Increasing warehouse construction driving demand for quick-to-install insulation materials	53
5.2.2	RESTRAINTS	54
5.2.2.1	Toxic chemicals used as raw materials leading to health risks and ineffective insulation	54
5.2.2.2	Shrinking pipelines of new coal-based thermal power plants	54
5.2.3	OPPORTUNITIES	54
5.2.3.1	Various government schemes to boost manufacturing sector in Asia Pacific	54
5.2.3.2	Stringent regulations mandating use of insulation materials for energy conservation	55
5.2.4	CHALLENGES	55
5.2.4.1	High training costs associated with application engineers and contractors	55
5.2.4.2	Fluctuating raw material costs leading to pricing pressure on insulation manufacturers	56
5.3	PORTER’S FIVE FORCES ANALYSIS	56
FIGURE 17	INSULATION PRODUCTS MARKET: PORTER’S FIVE FORCES ANALYSIS	56
TABLE 2	INSULATION PRODUCTS MARKET: PORTER’S FIVE FORCES ANALYSIS	57
5.3.1	INTENSITY OF COMPETITIVE RIVALRY	57
5.3.2	BARGAINING POWER OF BUYERS	57
5.3.3	BARGAINING POWER OF SUPPLIERS	57
5.3.4	THREAT OF SUBSTITUTES	58
5.3.5	THREAT OF NEW ENTRANTS	58
5.4	VALUE CHAIN ANALYSIS	58
FIGURE 18	VALUE CHAIN ANALYSIS OF INSULATION PRODUCTS MARKET	58
5.4.1	RAW MATERIAL SUPPLIERS	59
5.4.2	INSULATION PRODUCT MANUFACTURERS	59
5.4.3	INSULATION DISTRIBUTORS	59
5.4.4	INSULATION PRODUCT CONTRACTORS/CONVERTERS/CONSULTANTS	59
5.4.5	IMPACT OF COVID-19 ON VALUE CHAIN	60
5.4.5.1	Action plan against current vulnerability	60
5.5	KEY STAKEHOLDERS & BUYING CRITERIA	60
5.5.1	INTRODUCTION	60
FIGURE 19	INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 APPLICATIONS	60
5.5.2	KEY STAKEHOLDERS IN BUYING PROCESS	61
TABLE 3	INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USES (%)	61
5.5.3	BUYING CRITERIA	61
FIGURE 20	KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS	61
TABLE 4	KEY BUYING CRITERIA FOR TOP 3 END USES	61
5.6	TECHNOLOGY ANALYSIS	62
5.6.1	AEROGEL	62
5.6.1.1	SOL-GEL process	62
5.6.1.2	Nano compositing	62
5.6.1.3	Supercritical drying	62
5.6.1.4	STELMOR process	62
5.7	CASE STUDY ANALYSIS	63
5.7.1	PYROTEK ACOUSTIC INSULATION FOR CINEMA HALL	63
5.7.2	STONE WOOL INSULATION SLAB USED ACROSS SALAMANDER STREET	63
5.7.3	A CASE STUDY ON AEROGEL BY HELIX ENERGY SOLUTIONS GROUP	63
5.7.4	A CASE STUDY ON ASPEN AEROGELS CONTRACT FOR PTT LNG INSULATION	63
5.8	PATENT ANALYSIS	64
5.8.1	INTRODUCTION	64
5.8.2	APPROACH	64
5.8.3	DOCUMENT TYPE	64
FIGURE 21	GRANTED PATENTS ACCOUNTED FOR 35% OF ALL PATENTS BETWEEN 
2018 AND 2020	64
TABLE 5	PATENT ANALYSIS, 2018–2021	65
FIGURE 22	PATENT PUBLICATION TREND FOR INSULATION PRODUCTS, 2018–2021	65
5.8.4	LEGAL STATUS OF PATENTS	66
FIGURE 23	LEGAL STATUS OF INSULATION PRODUCTS PATENTS	66
FIGURE 24	INSULATION PRODUCTS PATENT JURISDICTION ANALYSIS, 2018–2021	66
5.8.5	TOP APPLICANTS	67
FIGURE 25	KNAUF INSULATION SPRL REGISTERED HIGHEST NUMBER OF PATENTS BETWEEN 2018 AND 2021	67
TABLE 6	PATENTS BY KNAUF INSULATION SPRL, 2018–2021	68
TABLE 7	PATENTS BY KINGSPAN GROUP, 2018–2021	68
TABLE 8	PATENTS BY COVESTRO LLC, 2018–2021	69
TABLE 9	PATENTS BY KNAUF INSULATION, 2018–2021	69
TABLE 10	PATENTS BY SAINT-GOBAIN ISOVER, 2018–2021	70
TABLE 11	PATENTS BY JOHNS MANVILLE CORPORATION, 2018–2021	70
TABLE 12	PATENTS BY HUNTSMAN INTERNATIONAL LLC, 2018–2021	71
5.9	AVERAGE SELLING PRICE	72
5.9.1	AVERAGE SELLING PRICE TREND	72
TABLE 13	PRICE ANALYSIS OF INSULATION MATERIALS	72
5.10	MACROECONOMIC INDICATORS	73
5.10.1	GDP TRENDS AND FORECAST OF MAJOR ECONOMIES	73
TABLE 14	GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 
2018–2026 (USD BILLION)	73
5.11	IMPACT OF COVID-19	74
5.11.1	INTRODUCTION	74
5.11.2	COVID-19 HEALTH ASSESSMENT	74
FIGURE 26	COUNTRY-WISE SPREAD OF COVID-19	74
5.11.3	COVID-19 ECONOMIC ASSESSMENT	75
FIGURE 27	REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2021	76
5.11.4	IMPACT ON CONSTRUCTION INDUSTRY	77
5.11.5	IMPACT ON AUTOMOTIVE INDUSTRY	77
5.12	INSULATION PRODUCTS MARKET ECOSYSTEM	77
FIGURE 28	INSULATION PRODUCTS MARKET ECOSYSTEM	77
5.13	KEY CONFERENCES & EVENTS IN 2022-2023	78
TABLE 15	INSULATION PRODUCTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS	78
5.14	TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS	79
FIGURE 29	REVENUE SHIFT FOR INSULATION PRODUCTS MARKET	79
5.15	TRADE ANALYSIS	80
TABLE 16	STONE WOOL IMPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	80
TABLE 17	STONE WOOL EXPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	80
TABLE 18	EPDM IMPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	81
TABLE 19	EPDM EXPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	81
5.16	TARIFF AND REGULATIONS	82
5.16.1	EUROPE	82
5.16.2	NORTH AMERICA	82
6	INSULATION PRODUCTS MARKET, BY INSULATION TYPE	83
6.1	INTRODUCTION	84
FIGURE 30	THERMAL INSULATION TO REMAIN LARGER SEGMENT DURING FORECAST PERIOD	84
TABLE 20	INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2016–2019 (USD MILLION)	84
TABLE 21	INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2020–2026 (USD MILLION)	85
6.2	THERMAL INSULATION	85
6.2.1	RISE IN DEMAND DUE TO DEVELOPMENT OF GREEN BUILDINGS	85
TABLE 22	THERMAL INSULATION MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	85
TABLE 23	THERMAL INSULATION MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	86
6.3	ACOUSTIC INSULATION	86
6.3.1	INCREASING DEMAND FOR ACOUSTIC INSULATION IN DEVELOPING NATIONS	86
TABLE 24	ACOUSTIC INSULATION MARKET SIZE, BY REGION, 
2016–2019 (USD MILLION)	86
TABLE 25	ACOUSTIC INSULATION MARKET SIZE, BY REGION, 
2020–2026 (USD MILLION)	87
7	INSULATION PRODUCTS MARKET, BY MATERIAL TYPE	88
7.1	INTRODUCTION	89
FIGURE 31	PUF EXPECTED TO GAIN MARKET SHARE DURING FORECAST PERIOD	89
TABLE 26	INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	89
TABLE 27	INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	90
7.2	MINERAL WOOL	90
7.2.1	RISE IN DEMAND FOR COST-EFFECTIVE AND ENERGY-EFFICIENT BUILDINGS TO SUPPORT MARKET GROWTH	90
TABLE 28	MINERAL WOOL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	90
TABLE 29	MINERAL WOOL MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	91
TABLE 30	NORTH AMERICA: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	91
TABLE 31	NORTH AMERICA: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	91
TABLE 32	EUROPE: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	92
TABLE 33	EUROPE: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	92
TABLE 34	ASIA PACIFIC: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	92
TABLE 35	ASIA PACIFIC: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	93
TABLE 36	ROW: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	93
TABLE 37	ROW: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	93
7.2.2	FIBERGLASS	94
7.2.3	STONE WOOL	94
7.3	POLYURETHANE FOAM (PUF)	94
7.3.1	INCREASING DEMAND FOR BIO-BASED PUF TO BOOST MARKET	94
TABLE 38	PUF MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	95
TABLE 39	PUF MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	95
TABLE 40	NORTH AMERICA: PUF MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	95
TABLE 41	NORTH AMERICA: PUF MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	95
TABLE 42	EUROPE: PUF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	96
TABLE 43	EUROPE: PUF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	96
TABLE 44	ASIA PACIFIC: PUF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	96
TABLE 45	ASIA PACIFIC: PUF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	97
TABLE 46	ROW: PUF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	97
TABLE 47	ROW: PUF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	97
7.4	FLEXIBLE ELASTOMERIC FOAM (FEF)	98
7.4.1	INCREASING USAGE OF HVAC SYSTEMS TO DRIVE DEMAND FOR FEF	98
TABLE 48	FEF MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	98
TABLE 49	FEF MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	98
TABLE 50	NORTH AMERICA: FEF MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	99
TABLE 51	NORTH AMERICA: FEF MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	99
TABLE 52	EUROPE: FEF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	99
TABLE 53	EUROPE: FEF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	100
TABLE 54	ASIA PACIFIC: FEF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	100
TABLE 55	ASIA PACIFIC: FEF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	100
TABLE 56	ROW: FEF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	101
TABLE 57	ROW: FEF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	101
7.4.2	ETHYLENE PROPYLENE DIENE MONOMER (EPDM)	101
7.4.3	NITRILE BUTADIENE RUBBER (NBR)	101
7.4.4	POLYETHYLENE INSULATION (PE)	102
7.5	OTHERS	102
TABLE 58	OTHERS MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	102
TABLE 59	OTHERS MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	102
TABLE 60	NORTH AMERICA: OTHERS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	103
TABLE 61	NORTH AMERICA: OTHERS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	103
TABLE 62	EUROPE: OTHERS MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	103
TABLE 63	EUROPE: OTHERS MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	103
TABLE 64	ASIA PACIFIC: OTHERS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	104
TABLE 65	ASIA PACIFIC: OTHERS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	104
TABLE 66	ROW: OTHERS MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	104
TABLE 67	ROW: OTHERS MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	105
7.5.1	EXTRUDED POLYSTYRENE INSULATION (XPS)	105
7.5.2	EXPANDED POLYSTYRENE INSULATION (EPS)	105
7.5.3	AEROGEL	106
7.5.4	OTHERS	106
8	INSULATION PRODUCTS MARKET, BY END-USE INDUSTRY	107
8.1	INTRODUCTION	108
FIGURE 32	BUILDING & CONSTRUCTION TO LEAD INSULATION PRODUCTS MARKET	108
TABLE 68	INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2016–2019 (USD MILLION)	108
TABLE 69	INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2020–2026 (USD MILLION)	109
8.2	BUILDING & CONSTRUCTION	109
8.2.1	RISE IN DEMAND FOR ENERGY-EFFICIENT BUILDINGS DRIVING BUILDING & CONSTRUCTION SEGMENT	109
TABLE 70	INSULATION PRODUCTS MARKET SIZE IN BUILDING & CONSTRUCTION, 
BY REGION, 2016–2019 (USD MILLION)	110
TABLE 71	INSULATION PRODUCTS MARKET SIZE IN BUILDING & CONSTRUCTION, 
BY REGION, 2020–2026 (USD MILLION)	110
8.3	INDUSTRIAL	110
8.3.1	HIGH DEMAND FOR INSULATION IN PROCESS INDUSTRY PROPELLING SEGMENT GROWTH	110
TABLE 72	INSULATION PRODUCTS MARKET SIZE IN INDUSTRIAL, BY REGION, 
2016–2019 (USD MILLION)	111
TABLE 73	INSULATION PRODUCTS MARKET SIZE IN INDUSTRIAL, BY REGION, 
2020–2026 (USD MILLION)	111
8.3.2	REFRIGERATION	112
8.3.3	OIL & PETROCHEMICAL	112
8.3.4	FOOD PROCESSING	112
8.3.5	POWER GENERATION & OTHERS	112
8.4	TRANSPORTATION	112
8.4.1	INCREASING USE OF INSULATION PRODUCTS FOR HIGH-TEMPERATURE TRANSPORT EQUIPMENT	112
TABLE 74	INSULATION PRODUCTS MARKET SIZE IN TRANSPORTATION, 
BY REGION, 2016–2019 (USD MILLION)	113
TABLE 75	INSULATION PRODUCTS MARKET SIZE IN TRANSPORTATION, 
BY REGION, 2020–2026 (USD MILLION)	113
8.4.2	AEROSPACE & DEFENSE	113
8.4.3	AUTOMOTIVE	114
8.4.4	OTHER TRANSPORTATION	114
8.5	CONSUMER GOODS	114
8.5.1	ASIA PACIFIC LED INSULATION PRODUCTS MARKET IN CONSUMER END-USE INDUSTRY IN 2020	114
TABLE 76	INSULATION PRODUCTS MARKET SIZE IN CONSUMER GOODS, 
BY REGION, 2016–2019 (USD MILLION)	115
TABLE 77	INSULATION PRODUCTS MARKET SIZE IN CONSUMER GOODS, 
BY REGION, 2020–2026 (USD MILLION)	115
9	INSULATION PRODUCTS MARKET, BY REGION	116
9.1	INTRODUCTION	117
FIGURE 33	ASIA PACIFIC TO LEAD INSULATION PRODUCTS MARKET BETWEEN 
2021 AND 2026	117
TABLE 78	INSULATION PRODUCTS MARKET SIZE, BY REGION, 
2016–2019 (USD MILLION)	117
TABLE 79	INSULATION PRODUCTS MARKET SIZE, BY REGION, 
2020–2026 (USD MILLION)	117
9.2	NORTH AMERICA	118
FIGURE 34	NORTH AMERICA: INSULATION PRODUCTS MARKET SNAPSHOT	119
TABLE 80	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	119
TABLE 81	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	120
TABLE 82	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)	120
TABLE 83	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2020–2026 (USD MILLION)	120
TABLE 84	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2016–2019 (USD MILLION)	121
TABLE 85	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2020–2026 (USD MILLION)	121
TABLE 86	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	121
TABLE 87	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	122
9.2.1	US	122
9.2.1.1	High demand for insulation to support market growth	122
TABLE 88	US: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	122
TABLE 89	US: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	123
9.2.2	CANADA	123
9.2.2.1	Second-largest consumer of insulation products in North America	123
TABLE 90	CANADA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	123
TABLE 91	CANADA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	124
9.2.3	MEXICO	124
9.2.3.1	Clean energy initiative to propel market growth	124
TABLE 92	MEXICO: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	124
TABLE 93	MEXICO: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	125
9.3	EUROPE	125
FIGURE 35	EUROPE: INSULATION PRODUCTS MARKET SNAPSHOT	126
TABLE 94	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	126
TABLE 95	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	127
TABLE 96	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	127
TABLE 97	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	127
TABLE 98	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)	128
TABLE 99	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2020–2026 (USD MILLION)	128
TABLE 100	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2016–2019 (USD MILLION)	128
TABLE 101	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2020–2026 (USD MILLION)	129
9.3.1	FRANCE	129
9.3.1.1	Transition to clean economy using renewable energy to boost demand for insulation products	129
TABLE 102	FRANCE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	129
TABLE 103	FRANCE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	130
9.3.2	RUSSIA	130
9.3.2.1	Growth of industrial sector fueling demand in major end-use industries	130
TABLE 104	RUSSIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	130
TABLE 105	RUSSIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	131
9.3.3	GERMANY	131
9.3.3.1	Investments in chemical and petrochemical industry driving market	131
TABLE 106	GERMANY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	131
TABLE 107	GERMANY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	131
9.3.4	ITALY	132
9.3.4.1	Growing investments in petrochemical industry fueling demand for insulation products	132
TABLE 108	ITALY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	132
TABLE 109	ITALY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	132
9.3.5	UK	133
9.3.5.1	Commercial building sector to exhibit growth	133
TABLE 110	UK: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	133
TABLE 111	UK: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	133
9.3.6	REST OF EUROPE	134
TABLE 112	REST OF EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	134
TABLE 113	REST OF EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	134
9.4	ASIA PACIFIC	135
TABLE 114	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	135
TABLE 115	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	135
TABLE 116	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	136
TABLE 117	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	136
TABLE 118	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)	136
TABLE 119	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2020–2026 (USD MILLION)	137
TABLE 120	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2016–2019 (USD MILLION)	137
TABLE 121	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2020–2026 (USD MILLION)	137
9.4.1	CHINA	138
9.4.1.1	Rapid economic growth augmenting market growth	138
TABLE 122	CHINA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	138
TABLE 123	CHINA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	138
9.4.2	JAPAN	139
9.4.2.1	Development in power and energy sector to propel market	139
TABLE 124	JAPAN: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	139
TABLE 125	JAPAN: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	139
9.4.3	INDIA	139
9.4.3.1	Growing urban population to drive market in commercial building sector	139
TABLE 126	INDIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	140
TABLE 127	INDIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	140
9.4.4	SOUTH KOREA	140
9.4.4.1	Increase in export of electronics propelling consumption of insulation products	140
TABLE 128	SOUTH KOREA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	141
TABLE 129	SOUTH KOREA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	141
9.4.5	REST OF ASIA PACIFIC	141
TABLE 130	REST OF ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	141
TABLE 131	REST OF ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	142
9.5	REST OF WORLD (ROW)	142
TABLE 132	ROW: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	142
TABLE 133	ROW: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	142
TABLE 134	ROW: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	143
TABLE 135	ROW: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	143
TABLE 136	ROW: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2016–2019 (USD MILLION)	143
TABLE 137	ROW: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2020–2026 (USD MILLION)	144
TABLE 138	ROW: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2016–2019 (USD MILLION)	144
TABLE 139	ROW: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2020–2026 (USD MILLION)	144
9.5.1	SAUDI ARABIA	145
9.5.1.1	Government energy efficiency programs driving demand for insulation products	145
TABLE 140	SAUDI ARABIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	145
TABLE 141	SAUDI ARABIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	145
9.5.2	AFRICA	146
9.5.2.1	Growth of construction sector fueling demand for insulation products	146
TABLE 142	AFRICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	146
TABLE 143	AFRICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	146
9.5.3	UAE	146
9.5.3.1	Demand in major end-use industries boosting market growth	146
TABLE 144	UAE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	147
TABLE 145	UAE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	147
9.5.4	BRAZIL	147
9.5.4.1	Increasing demand for polyurethane foam to drive market	147
TABLE 146	BRAZIL: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	148
TABLE 147	BRAZIL: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	148
9.5.5	REST OF SOUTH AMERICA, MIDDLE EAST & AFRICA (REST OF SA, MEA)	148
9.5.5.1	Economic growth and growing infrastructure driving end-use industries	148
TABLE 148	REST OF SA, MEA: INSULATION PRODUCTS MARKET SIZE, 
BY MATERIAL TYPE, 2016–2019 (USD MILLION)	149
TABLE 149	REST OF SA, MEA: INSULATION PRODUCTS MARKET SIZE, 
BY MATERIAL TYPE, 2020–2026 (USD MILLION)	149
10	COMPETITIVE LANDSCAPE	150
10.1	INTRODUCTION	150
10.2	MARKET EVALUATION FRAMEWORK	150
FIGURE 36	INSULATION PRODUCTS MARKET EVALUATION FRAMEWORK, 2018–2022	150
10.3	STRATEGIES ADOPTED BY KEY PLAYERS	151
TABLE 150	OVERVIEW OF STRATEGIES ADOPTED BY INSULATION PRODUCTS MANUFACTURERS	151
10.4	MARKET SHARE ANALYSIS	153
10.4.1	RANKING OF KEY MARKET PLAYERS, 2020	153
FIGURE 37	RANKING OF TOP FIVE PLAYERS IN INSULATION PRODUCTS MARKET, 2020	153
10.4.2	MARKET SHARE OF KEY PLAYERS	153
TABLE 151	INSULATION PRODUCTS MARKET: DEGREE OF COMPETITION	154
FIGURE 38	COVESTRO AG IS LEADING INSULATION PRODUCTS MARKET	154
10.4.2.1	Covestro AG	154
10.4.2.2	Saint-Gobain ISOVER	155
10.4.2.3	Owens Corning	155
10.4.2.4	Knauf Insulation	155
10.4.2.5	Rockwool International A/S	155
FIGURE 39	REVENUE ANALYSIS OF LEADING PLAYERS	155
TABLE 152	REVENUE ANALYSIS OF LEADING PLAYERS (USD MILLION)	156
10.5	COMPANY PRODUCT FOOTPRINT ANALYSIS	156
TABLE 153	INSULATION PRODUCTS MARKET: MATERIAL TYPE FOOTPRINT	156
TABLE 154	INSULATION PRODUCTS MARKET: REGION TYPE FOOTPRINT	157
10.6	COMPANY EVALUATION MATRIX (TIER 1)	158
10.6.1	TERMINOLOGY/NOMENCLATURE	158
10.6.1.1	Stars	158
10.6.1.2	Emerging Leaders	158
10.6.1.3	Pervasive	158
10.6.1.4	Participants	158
FIGURE 40	COMPANY EVALUATION MATRIX FOR INSULATION PRODUCTS MARKET	159
10.7	START-UPS/ SMES EVALUATION MATRIX	160
10.7.1	TERMINOLOGY/ NOMENCLATURE	160
10.7.1.1	Progressive companies	160
10.7.1.2	Responsive companies	160
10.7.1.3	Dynamic companies	160
10.7.1.4	Starting blocks	160
FIGURE 41	START-UP/ SMES EVALUATION MATRIX FOR INSULATION PRODUCTS MARKET	161
10.8	COMPETITIVE SITUATIONS AND TRENDS	162
10.8.1	NEW PRODUCT LAUNCHES	162
TABLE 155	INSULATION PRODUCTS MARKET: NEW PRODUCT LAUNCHES, JANUARY 2018–JANUARY 2022	162
10.8.2	DEALS	163
TABLE 156	INSULATION PRODUCTS MARKET: DEALS, JANUARY 2018–JANUARY 2022	163
10.8.3	OTHER DEVELOPMENTS	165
TABLE 157	INSULATION PRODUCTS MARKET: OTHER DEVELOPMENTS, 
JANUARY 2018–JANUARY 2022	165
11	COMPANY PROFILES	167
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
11.1	KEY PLAYERS	167
11.1.1	COVESTRO AG	167
TABLE 158	COVESTRO AG: BUSINESS OVERVIEW	167
FIGURE 42	COVESTRO AG: COMPANY SNAPSHOT	168
TABLE 159	COVESTRO AG: PRODUCT LAUNCHES	170
TABLE 160	COVESTRO AG: DEALS	170
TABLE 161	COVESTRO AG: OTHER DEVELOPMENTS	171
11.1.2	SAINT-GOBAIN ISOVER	173
TABLE 162	SAINT-GOBAIN ISOVER: BUSINESS OVERVIEW	173
TABLE 163	SAINT-GOBAIN ISOVER: DEALS	174
11.1.3	OWENS CORNING	175
TABLE 164	OWENS CORNING: BUSINESS OVERVIEW	175
FIGURE 43	OWENS CORNING: COMPANY SNAPSHOT	176
TABLE 165	OWENS CORNING: PRODUCT LAUNCHES	178
TABLE 166	OWENS CORNING: DEALS	178
TABLE 167	OWENS CORNING: OTHER DEVELOPMENTS	179
11.1.4	KNAUF INSULATION	181
TABLE 168	KNAUF INSULATION: BUSINESS OVERVIEW	181
TABLE 169	KNAUF INSULATION: OTHER DEVELOPMENTS	182
11.1.5	ROCKWOOL INTERNATIONAL A/S	183
TABLE 170	ROCKWOOL INTERNATIONAL A/S: BUSINESS OVERVIEW	183
FIGURE 44	ROCKWOOL INTERNATIONAL A/S: COMPANY SNAPSHOT	184
TABLE 171	ROCKWOOL INTERNATIONAL A/S: PRODUCT LAUNCHES	185
TABLE 172	ROCKWOOL INTERNATIONAL A/S: DEALS	185
TABLE 173	ROCKWOOL INTERNATIONAL A/S: OTHER DEVELOPMENTS	186
11.1.6	KINGSPAN GROUP	188
TABLE 174	KINGSPAN GROUP: BUSINESS OVERVIEW	188
FIGURE 45	KINGSPAN GROUP: COMPANY SNAPSHOT	189
TABLE 175	KINGSPAN GROUP: DEALS	190
TABLE 176	KINGSPAN GROUP: OTHER DEVELOPMENTS	190
11.1.7	ARMACELL INTERNATIONAL S.A.	191
TABLE 177	ARMACELL INTERNATIONAL S.A.: BUSINESS OVERVIEW	191
FIGURE 46	ARMACELL INTERNATIONAL S.A.: COMPANY SNAPSHOT	192
TABLE 178	ARMACELL INTERNATIONAL S.A.: PRODUCT LAUNCHES	193
TABLE 179	ARMACELL INTERNATIONAL S.A.: DEALS	194
11.1.8	HUNTSMAN CORPORATION	196
TABLE 180	HUNTSMAN CORPORATION: BUSINESS OVERVIEW	196
FIGURE 47	HUNTSMAN CORPORATION: COMPANY SNAPSHOT	197
TABLE 181	HUNTSMAN CORPORATION: PRODUCT LAUNCHES	198
TABLE 182	HUNTSMAN CORPORATION: DEALS	199
TABLE 183	HUNTSMAN CORPORATION: OTHER DEVELOPMENTS	199
11.1.9	JOHNS MANVILLE CORPORATION	201
TABLE 184	JOHNS MANVILLE CORPORATION: BUSINESS OVERVIEW	201
TABLE 185	JOHNS MANVILLE CORPORATION: PRODUCT LAUNCHES	202
TABLE 186	JOHNS MANVILLE CORPORATION: DEALS	203
TABLE 187	JOHNS MANVILLE CORPORATION: OTHER DEVELOPMENTS	203
11.1.10	URSA INSULATION S.A.	205
TABLE 188	URSA INSULATION S.A.: BUSINESS OVERVIEW	205
11.1.11	BASF SE	206
TABLE 189	BASF SE: BUSINESS OVERVIEW	206
FIGURE 48	BASF SE: COMPANY SNAPSHOT	207
TABLE 190	BASF SE: PRODUCT LAUNCH	208
11.1.12	CHINA JUSHI CO., LTD.	209
TABLE 191	CHINA JUSHI CO., LTD.: BUSINESS OVERVIEW	209
TABLE 192	CHINA JUSHI CO., LTD.: PRODUCT LAUNCHES	210
TABLE 193	CHINA JUSHI CO., LTD.: OTHER DEVELOPMENTS	210
11.1.13	ROGERS CORPORATION	211
TABLE 194	ROGERS CORPORATION: BUSINESS OVERVIEW	211
FIGURE 49	ROGERS CORPORATION: COMPANY SNAPSHOT	212
TABLE 195	ROGERS CORPORATION: PRODUCT LAUNCHES	213
TABLE 196	ROGERS CORPORATION: DEALS	213
TABLE 197	ROGERS CORPORATION: OTHER DEVELOPMENTS	213
11.1.14	RECTICEL NV/SA	214
TABLE 198	RECTICEL NV/SA: BUSINESS OVERVIEW	214
FIGURE 50	RECTICEL NV/SA: COMPANY SNAPSHOT	215
TABLE 199	RECTICEL NV/SA: DEALS	216
11.1.15	ASPEN AEROGELS, INC.	217
TABLE 200	ASPEN AEROGELS, INC.: BUSINESS OVERVIEW	217
FIGURE 51	ASPEN AEROGELS, INC.: COMPANY SNAPSHOT	217
TABLE 201	ASPEN AEROGELS, INC.: DEALS	218
11.2	OTHER PLAYERS	219
11.2.1	NANO TECH CO. LTD.	219
TABLE 202	NANO TECH CO. LTD.: BUSINESS OVERVIEW	219
11.2.2	MORGAN ADVANCED MATERIALS PLC	220
TABLE 203	MORGAN ADVANCED MATERIALS PLC: BUSINESS OVERVIEW	220
FIGURE 52	MORGAN ADVANCED MATERIALS PLC: COMPANY SNAPSHOT	221
11.2.3	GAF MATERIALS CORPORATION	223
TABLE 204	GAF MATERIALS CORPORATION: BUSINESS OVERVIEW	223
11.2.4	CELLOFOAM INTERNATIONAL GMBH	224
TABLE 205	CELLOFOAM INTERNATIONAL GMBH: BUSINESS OVERVIEW	224
TABLE 206	CELLOFOAM INTERNATIONAL GMBH: PRODUCT LAUNCHES	225
11.2.5	WINCELL	226
TABLE 207	WINCELL: BUSINESS OVERVIEW	226
11.2.6	L’ISOLANTE K’FLEX S.P.A	227
TABLE 208	L’ISOLANTE K-FLEX S.P.A: BUSINESS OVERVIEW	227
TABLE 209	L’ISOLANTE K-FLEX S.P.A: OTHER DEVELOPMENTS	229
11.2.7	HIRA INDUSTRIES LLC	230
TABLE 210	HIRA INDUSTRIES LLC: BUSINESS OVERVIEW	230
11.2.8	AEROFLEX COMPANY LIMITED	231
TABLE 211	AEROFLEX COMPANY LIMITED: BUSINESS OVERVIEW	231
11.2.9	SOPREMA GROUP	232
TABLE 212	SOPREMA GROUP: BUSINESS OVERVIEW	232
TABLE 213	SOPREMA GROUP: OTHER DEVELOPMENTS	234
11.2.10	ATLAS ROOFING CORPORATION	235
TABLE 214	ATLAS ROOFING CORPORATION: BUSINESS OVERVIEW	235
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
12	ADJACENT AND RELATED MARKETS	236
12.1	INTRODUCTION	236
12.2	LIMITATION	236
12.3	ACOUSTIC INSULATION MARKET	236
12.3.1	MARKET DEFINITION	236
12.3.2	MARKET OVERVIEW	237
12.4	ACOUSTIC INSULATION MARKET, BY REGION	237
TABLE 215	ACOUSTICS INSULATION MARKET SIZE, BY REGION, 2017–2020 (KILOTON)	237
TABLE 216	ACOUSTIC INSULATION MARKET SIZE, BY REGION, 2021–2026 (KILOTON)	237
12.4.1	ASIA PACIFIC	238
12.4.1.1	By country	238
TABLE 217	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (KILOTON)	238
TABLE 218	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (KILOTON)	238
TABLE 219	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (USD MILLION)	239
TABLE 220	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (USD MILLION)	239
12.4.2	EUROPE	240
12.4.2.1	By country	240
TABLE 221	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (KILOTON)	240
TABLE 222	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (KILOTON)	240
TABLE 223	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (USD MILLION)	241
TABLE 224	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (USD MILLION)	241
12.4.3	NORTH AMERICA	242
12.4.3.1	By country	242
TABLE 225	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (KILOTON)	242
TABLE 226	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (KILOTON)	242
TABLE 227	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (USD MILLION)	242
TABLE 228	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (USD MILLION)	243
12.4.4	MIDDLE EAST & AFRICA	243
12.4.4.1	By country	243
TABLE 229	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (KILOTON)	243
TABLE 230	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (KILOTON)	243
TABLE 231	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (USD MILLION)	244
TABLE 232	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (USD MILLION)	244
12.4.5	SOUTH AMERICA	244
12.4.5.1	By country	244
TABLE 233	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (KILOTON)	244
TABLE 234	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (KILOTON)	245
TABLE 235	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (USD MILLION)	245
TABLE 236	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (USD MILLION)	245
13	APPENDIX	246
13.1	DISCUSSION GUIDE	246
13.2	KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	249
13.3	AVAILABLE CUSTOMIZATIONS	251
13.4	RELATED REPORTS	251
13.5	AUTHOR DETAILS	252
			       1	INTRODUCTION	32
1.1	STUDY OBJECTIVES	32
1.2	MARKET DEFINITION	32
1.3	MARKET SCOPE	33
1.3.1	MARKET SEGMENTATION	33
1.3.2	REGIONS COVERED	33
1.3.3	YEARS CONSIDERED	34
1.4	CURRENCY	34
1.5	STAKEHOLDERS	34
1.6	SUMMARY OF CHANGES	35
2	RESEARCH METHODOLOGY	36
2.1	RESEARCH DATA	36
FIGURE 1	INSULATION PRODUCTS MARKET: RESEARCH DESIGN	36
2.1.1	SECONDARY DATA	37
2.1.1.1	Key data from secondary sources	37
2.1.2	PRIMARY DATA	37
2.1.2.1	Key data from primary sources	38
2.1.2.2	Breakdown of primary interviews	38
2.2	MARKET SIZE ESTIMATION	39
2.2.1	BOTTOM-UP APPROACH	39
FIGURE 2	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	39
2.2.2	TOP-DOWN APPROACH	40
FIGURE 3	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	40
FIGURE 4	METHODOLOGY FOR “DEMAND-SIDE” SIZING OF INSULATION PRODUCTS MARKET	40
FIGURE 5	METHODOLOGY FOR “SUPPLY-SIDE” SIZING OF INSULATION PRODUCTS MARKET (1/2)	41
FIGURE 6	METHODOLOGY FOR “SUPPLY SIDE” SIZING OF INSULATION PRODUCTS MARKET (2/2)	41
2.3	DATA TRIANGULATION	42
FIGURE 7	INSULATION PRODUCTS MARKET: DATA TRIANGULATION	42
2.4	RESEARCH ASSUMPTIONS	43
2.5	LIMITATIONS	43
3	EXECUTIVE SUMMARY	44
FIGURE 8	MINERAL WOOL INSULATION PRODUCTS MARKET, BY MATERIAL TYPE	45
FIGURE 9	BUILDING & CONSTRUCTION TO ACCOUNT FOR LARGEST SHARE IN INSULATION PRODUCTS MARKET IN 2021	45
FIGURE 10	ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN INSULATION PRODUCTS MARKET IN 2021	46
4	PREMIUM INSIGHTS	48
4.1	ATTRACTIVE OPPORTUNITIES IN INSULATION PRODUCTS MARKET	48
FIGURE 11	DEMAND FOR INSULATION PRODUCTS TO INCREASE IN ASIA PACIFIC DURING FORECAST PERIOD	48
4.2	INSULATION PRODUCTS MARKET, BY REGION	48
FIGURE 12	ASIA PACIFIC HELD LARGEST MARKET SIZE IN 2020	48
4.3	INSULATION PRODUCTS MARKET IN ASIA PACIFIC, BY MATERIAL TYPE AND COUNTRY	49
FIGURE 13	PUF AND CHINA ACCOUNTED FOR LARGEST SHARES OF INSULATION PRODUCTS MARKET IN ASIA PACIFIC	49
4.4	INSULATION PRODUCTS MARKET, BY REGION AND MATERIAL TYPE, IN 2020	50
FIGURE 14	MINERAL WOOL ACCOUNTED FOR LARGEST MARKET SHARE IN EUROPE	50
4.5	INSULATION PRODUCTS MARKET: MAJOR COUNTRIES	50
FIGURE 15	CHINA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD	50
5	MARKET OVERVIEW	51
5.1	INTRODUCTION	51
5.2	MARKET DYNAMICS	51
FIGURE 16	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN INSULATION PRODUCTS MARKET	51
5.2.1	DRIVERS	52
5.2.1.1	Growing steel and aluminum industries in developing nations	52
TABLE 1	STEEL PRODUCTION, BY COUNTRY, 2020	52
5.2.1.2	Increasing awareness about acoustic insulation in building & construction industry	53
5.2.1.3	Increasing warehouse construction driving demand for quick-to-install insulation materials	53
5.2.2	RESTRAINTS	54
5.2.2.1	Toxic chemicals used as raw materials leading to health risks and ineffective insulation	54
5.2.2.2	Shrinking pipelines of new coal-based thermal power plants	54
5.2.3	OPPORTUNITIES	54
5.2.3.1	Various government schemes to boost manufacturing sector in Asia Pacific	54
5.2.3.2	Stringent regulations mandating use of insulation materials for energy conservation	55
5.2.4	CHALLENGES	55
5.2.4.1	High training costs associated with application engineers and contractors	55
5.2.4.2	Fluctuating raw material costs leading to pricing pressure on insulation manufacturers	56
5.3	PORTER’S FIVE FORCES ANALYSIS	56
FIGURE 17	INSULATION PRODUCTS MARKET: PORTER’S FIVE FORCES ANALYSIS	56
TABLE 2	INSULATION PRODUCTS MARKET: PORTER’S FIVE FORCES ANALYSIS	57
5.3.1	INTENSITY OF COMPETITIVE RIVALRY	57
5.3.2	BARGAINING POWER OF BUYERS	57
5.3.3	BARGAINING POWER OF SUPPLIERS	57
5.3.4	THREAT OF SUBSTITUTES	58
5.3.5	THREAT OF NEW ENTRANTS	58
5.4	VALUE CHAIN ANALYSIS	58
FIGURE 18	VALUE CHAIN ANALYSIS OF INSULATION PRODUCTS MARKET	58
5.4.1	RAW MATERIAL SUPPLIERS	59
5.4.2	INSULATION PRODUCT MANUFACTURERS	59
5.4.3	INSULATION DISTRIBUTORS	59
5.4.4	INSULATION PRODUCT CONTRACTORS/CONVERTERS/CONSULTANTS	59
5.4.5	IMPACT OF COVID-19 ON VALUE CHAIN	60
5.4.5.1	Action plan against current vulnerability	60
5.5	KEY STAKEHOLDERS & BUYING CRITERIA	60
5.5.1	INTRODUCTION	60
FIGURE 19	INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 APPLICATIONS	60
5.5.2	KEY STAKEHOLDERS IN BUYING PROCESS	61
TABLE 3	INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USES (%)	61
5.5.3	BUYING CRITERIA	61
FIGURE 20	KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS	61
TABLE 4	KEY BUYING CRITERIA FOR TOP 3 END USES	61
5.6	TECHNOLOGY ANALYSIS	62
5.6.1	AEROGEL	62
5.6.1.1	SOL-GEL process	62
5.6.1.2	Nano compositing	62
5.6.1.3	Supercritical drying	62
5.6.1.4	STELMOR process	62
5.7	CASE STUDY ANALYSIS	63
5.7.1	PYROTEK ACOUSTIC INSULATION FOR CINEMA HALL	63
5.7.2	STONE WOOL INSULATION SLAB USED ACROSS SALAMANDER STREET	63
5.7.3	A CASE STUDY ON AEROGEL BY HELIX ENERGY SOLUTIONS GROUP	63
5.7.4	A CASE STUDY ON ASPEN AEROGELS CONTRACT FOR PTT LNG INSULATION	63
5.8	PATENT ANALYSIS	64
5.8.1	INTRODUCTION	64
5.8.2	APPROACH	64
5.8.3	DOCUMENT TYPE	64
FIGURE 21	GRANTED PATENTS ACCOUNTED FOR 35% OF ALL PATENTS BETWEEN 
2018 AND 2020	64
TABLE 5	PATENT ANALYSIS, 2018–2021	65
FIGURE 22	PATENT PUBLICATION TREND FOR INSULATION PRODUCTS, 2018–2021	65
5.8.4	LEGAL STATUS OF PATENTS	66
FIGURE 23	LEGAL STATUS OF INSULATION PRODUCTS PATENTS	66
FIGURE 24	INSULATION PRODUCTS PATENT JURISDICTION ANALYSIS, 2018–2021	66
5.8.5	TOP APPLICANTS	67
FIGURE 25	KNAUF INSULATION SPRL REGISTERED HIGHEST NUMBER OF PATENTS BETWEEN 2018 AND 2021	67
TABLE 6	PATENTS BY KNAUF INSULATION SPRL, 2018–2021	68
TABLE 7	PATENTS BY KINGSPAN GROUP, 2018–2021	68
TABLE 8	PATENTS BY COVESTRO LLC, 2018–2021	69
TABLE 9	PATENTS BY KNAUF INSULATION, 2018–2021	69
TABLE 10	PATENTS BY SAINT-GOBAIN ISOVER, 2018–2021	70
TABLE 11	PATENTS BY JOHNS MANVILLE CORPORATION, 2018–2021	70
TABLE 12	PATENTS BY HUNTSMAN INTERNATIONAL LLC, 2018–2021	71
5.9	AVERAGE SELLING PRICE	72
5.9.1	AVERAGE SELLING PRICE TREND	72
TABLE 13	PRICE ANALYSIS OF INSULATION MATERIALS	72
5.10	MACROECONOMIC INDICATORS	73
5.10.1	GDP TRENDS AND FORECAST OF MAJOR ECONOMIES	73
TABLE 14	GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 
2018–2026 (USD BILLION)	73
5.11	IMPACT OF COVID-19	74
5.11.1	INTRODUCTION	74
5.11.2	COVID-19 HEALTH ASSESSMENT	74
FIGURE 26	COUNTRY-WISE SPREAD OF COVID-19	74
5.11.3	COVID-19 ECONOMIC ASSESSMENT	75
FIGURE 27	REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2021	76
5.11.4	IMPACT ON CONSTRUCTION INDUSTRY	77
5.11.5	IMPACT ON AUTOMOTIVE INDUSTRY	77
5.12	INSULATION PRODUCTS MARKET ECOSYSTEM	77
FIGURE 28	INSULATION PRODUCTS MARKET ECOSYSTEM	77
5.13	KEY CONFERENCES & EVENTS IN 2022-2023	78
TABLE 15	INSULATION PRODUCTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS	78
5.14	TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS	79
FIGURE 29	REVENUE SHIFT FOR INSULATION PRODUCTS MARKET	79
5.15	TRADE ANALYSIS	80
TABLE 16	STONE WOOL IMPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	80
TABLE 17	STONE WOOL EXPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	80
TABLE 18	EPDM IMPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	81
TABLE 19	EPDM EXPORT TRADE DATA FOR TOP COUNTRIES, 2017–2021 (USD)	81
5.16	TARIFF AND REGULATIONS	82
5.16.1	EUROPE	82
5.16.2	NORTH AMERICA	82
6	INSULATION PRODUCTS MARKET, BY INSULATION TYPE	83
6.1	INTRODUCTION	84
FIGURE 30	THERMAL INSULATION TO REMAIN LARGER SEGMENT DURING FORECAST PERIOD	84
TABLE 20	INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2016–2019 (USD MILLION)	84
TABLE 21	INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2020–2026 (USD MILLION)	85
6.2	THERMAL INSULATION	85
6.2.1	RISE IN DEMAND DUE TO DEVELOPMENT OF GREEN BUILDINGS	85
TABLE 22	THERMAL INSULATION MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	85
TABLE 23	THERMAL INSULATION MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	86
6.3	ACOUSTIC INSULATION	86
6.3.1	INCREASING DEMAND FOR ACOUSTIC INSULATION IN DEVELOPING NATIONS	86
TABLE 24	ACOUSTIC INSULATION MARKET SIZE, BY REGION, 
2016–2019 (USD MILLION)	86
TABLE 25	ACOUSTIC INSULATION MARKET SIZE, BY REGION, 
2020–2026 (USD MILLION)	87
7	INSULATION PRODUCTS MARKET, BY MATERIAL TYPE	88
7.1	INTRODUCTION	89
FIGURE 31	PUF EXPECTED TO GAIN MARKET SHARE DURING FORECAST PERIOD	89
TABLE 26	INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	89
TABLE 27	INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	90
7.2	MINERAL WOOL	90
7.2.1	RISE IN DEMAND FOR COST-EFFECTIVE AND ENERGY-EFFICIENT BUILDINGS TO SUPPORT MARKET GROWTH	90
TABLE 28	MINERAL WOOL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	90
TABLE 29	MINERAL WOOL MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	91
TABLE 30	NORTH AMERICA: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	91
TABLE 31	NORTH AMERICA: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	91
TABLE 32	EUROPE: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	92
TABLE 33	EUROPE: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	92
TABLE 34	ASIA PACIFIC: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	92
TABLE 35	ASIA PACIFIC: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	93
TABLE 36	ROW: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	93
TABLE 37	ROW: MINERAL WOOL MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	93
7.2.2	FIBERGLASS	94
7.2.3	STONE WOOL	94
7.3	POLYURETHANE FOAM (PUF)	94
7.3.1	INCREASING DEMAND FOR BIO-BASED PUF TO BOOST MARKET	94
TABLE 38	PUF MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	95
TABLE 39	PUF MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	95
TABLE 40	NORTH AMERICA: PUF MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	95
TABLE 41	NORTH AMERICA: PUF MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	95
TABLE 42	EUROPE: PUF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	96
TABLE 43	EUROPE: PUF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	96
TABLE 44	ASIA PACIFIC: PUF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	96
TABLE 45	ASIA PACIFIC: PUF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	97
TABLE 46	ROW: PUF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	97
TABLE 47	ROW: PUF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	97
7.4	FLEXIBLE ELASTOMERIC FOAM (FEF)	98
7.4.1	INCREASING USAGE OF HVAC SYSTEMS TO DRIVE DEMAND FOR FEF	98
TABLE 48	FEF MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	98
TABLE 49	FEF MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	98
TABLE 50	NORTH AMERICA: FEF MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	99
TABLE 51	NORTH AMERICA: FEF MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	99
TABLE 52	EUROPE: FEF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	99
TABLE 53	EUROPE: FEF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	100
TABLE 54	ASIA PACIFIC: FEF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	100
TABLE 55	ASIA PACIFIC: FEF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	100
TABLE 56	ROW: FEF MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	101
TABLE 57	ROW: FEF MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	101
7.4.2	ETHYLENE PROPYLENE DIENE MONOMER (EPDM)	101
7.4.3	NITRILE BUTADIENE RUBBER (NBR)	101
7.4.4	POLYETHYLENE INSULATION (PE)	102
7.5	OTHERS	102
TABLE 58	OTHERS MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)	102
TABLE 59	OTHERS MARKET SIZE, BY REGION, 2020–2026 (USD MILLION)	102
TABLE 60	NORTH AMERICA: OTHERS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	103
TABLE 61	NORTH AMERICA: OTHERS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	103
TABLE 62	EUROPE: OTHERS MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	103
TABLE 63	EUROPE: OTHERS MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	103
TABLE 64	ASIA PACIFIC: OTHERS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	104
TABLE 65	ASIA PACIFIC: OTHERS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	104
TABLE 66	ROW: OTHERS MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	104
TABLE 67	ROW: OTHERS MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	105
7.5.1	EXTRUDED POLYSTYRENE INSULATION (XPS)	105
7.5.2	EXPANDED POLYSTYRENE INSULATION (EPS)	105
7.5.3	AEROGEL	106
7.5.4	OTHERS	106
8	INSULATION PRODUCTS MARKET, BY END-USE INDUSTRY	107
8.1	INTRODUCTION	108
FIGURE 32	BUILDING & CONSTRUCTION TO LEAD INSULATION PRODUCTS MARKET	108
TABLE 68	INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2016–2019 (USD MILLION)	108
TABLE 69	INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2020–2026 (USD MILLION)	109
8.2	BUILDING & CONSTRUCTION	109
8.2.1	RISE IN DEMAND FOR ENERGY-EFFICIENT BUILDINGS DRIVING BUILDING & CONSTRUCTION SEGMENT	109
TABLE 70	INSULATION PRODUCTS MARKET SIZE IN BUILDING & CONSTRUCTION, 
BY REGION, 2016–2019 (USD MILLION)	110
TABLE 71	INSULATION PRODUCTS MARKET SIZE IN BUILDING & CONSTRUCTION, 
BY REGION, 2020–2026 (USD MILLION)	110
8.3	INDUSTRIAL	110
8.3.1	HIGH DEMAND FOR INSULATION IN PROCESS INDUSTRY PROPELLING SEGMENT GROWTH	110
TABLE 72	INSULATION PRODUCTS MARKET SIZE IN INDUSTRIAL, BY REGION, 
2016–2019 (USD MILLION)	111
TABLE 73	INSULATION PRODUCTS MARKET SIZE IN INDUSTRIAL, BY REGION, 
2020–2026 (USD MILLION)	111
8.3.2	REFRIGERATION	112
8.3.3	OIL & PETROCHEMICAL	112
8.3.4	FOOD PROCESSING	112
8.3.5	POWER GENERATION & OTHERS	112
8.4	TRANSPORTATION	112
8.4.1	INCREASING USE OF INSULATION PRODUCTS FOR HIGH-TEMPERATURE TRANSPORT EQUIPMENT	112
TABLE 74	INSULATION PRODUCTS MARKET SIZE IN TRANSPORTATION, 
BY REGION, 2016–2019 (USD MILLION)	113
TABLE 75	INSULATION PRODUCTS MARKET SIZE IN TRANSPORTATION, 
BY REGION, 2020–2026 (USD MILLION)	113
8.4.2	AEROSPACE & DEFENSE	113
8.4.3	AUTOMOTIVE	114
8.4.4	OTHER TRANSPORTATION	114
8.5	CONSUMER GOODS	114
8.5.1	ASIA PACIFIC LED INSULATION PRODUCTS MARKET IN CONSUMER END-USE INDUSTRY IN 2020	114
TABLE 76	INSULATION PRODUCTS MARKET SIZE IN CONSUMER GOODS, 
BY REGION, 2016–2019 (USD MILLION)	115
TABLE 77	INSULATION PRODUCTS MARKET SIZE IN CONSUMER GOODS, 
BY REGION, 2020–2026 (USD MILLION)	115
9	INSULATION PRODUCTS MARKET, BY REGION	116
9.1	INTRODUCTION	117
FIGURE 33	ASIA PACIFIC TO LEAD INSULATION PRODUCTS MARKET BETWEEN 
2021 AND 2026	117
TABLE 78	INSULATION PRODUCTS MARKET SIZE, BY REGION, 
2016–2019 (USD MILLION)	117
TABLE 79	INSULATION PRODUCTS MARKET SIZE, BY REGION, 
2020–2026 (USD MILLION)	117
9.2	NORTH AMERICA	118
FIGURE 34	NORTH AMERICA: INSULATION PRODUCTS MARKET SNAPSHOT	119
TABLE 80	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	119
TABLE 81	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	120
TABLE 82	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)	120
TABLE 83	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2020–2026 (USD MILLION)	120
TABLE 84	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2016–2019 (USD MILLION)	121
TABLE 85	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2020–2026 (USD MILLION)	121
TABLE 86	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)	121
TABLE 87	NORTH AMERICA: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 2020–2026 (USD MILLION)	122
9.2.1	US	122
9.2.1.1	High demand for insulation to support market growth	122
TABLE 88	US: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	122
TABLE 89	US: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	123
9.2.2	CANADA	123
9.2.2.1	Second-largest consumer of insulation products in North America	123
TABLE 90	CANADA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	123
TABLE 91	CANADA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	124
9.2.3	MEXICO	124
9.2.3.1	Clean energy initiative to propel market growth	124
TABLE 92	MEXICO: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	124
TABLE 93	MEXICO: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	125
9.3	EUROPE	125
FIGURE 35	EUROPE: INSULATION PRODUCTS MARKET SNAPSHOT	126
TABLE 94	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	126
TABLE 95	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	127
TABLE 96	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	127
TABLE 97	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	127
TABLE 98	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)	128
TABLE 99	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2020–2026 (USD MILLION)	128
TABLE 100	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2016–2019 (USD MILLION)	128
TABLE 101	EUROPE: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2020–2026 (USD MILLION)	129
9.3.1	FRANCE	129
9.3.1.1	Transition to clean economy using renewable energy to boost demand for insulation products	129
TABLE 102	FRANCE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	129
TABLE 103	FRANCE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	130
9.3.2	RUSSIA	130
9.3.2.1	Growth of industrial sector fueling demand in major end-use industries	130
TABLE 104	RUSSIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	130
TABLE 105	RUSSIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	131
9.3.3	GERMANY	131
9.3.3.1	Investments in chemical and petrochemical industry driving market	131
TABLE 106	GERMANY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	131
TABLE 107	GERMANY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	131
9.3.4	ITALY	132
9.3.4.1	Growing investments in petrochemical industry fueling demand for insulation products	132
TABLE 108	ITALY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	132
TABLE 109	ITALY: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	132
9.3.5	UK	133
9.3.5.1	Commercial building sector to exhibit growth	133
TABLE 110	UK: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	133
TABLE 111	UK: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	133
9.3.6	REST OF EUROPE	134
TABLE 112	REST OF EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	134
TABLE 113	REST OF EUROPE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	134
9.4	ASIA PACIFIC	135
TABLE 114	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	135
TABLE 115	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	135
TABLE 116	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	136
TABLE 117	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	136
TABLE 118	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)	136
TABLE 119	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 2020–2026 (USD MILLION)	137
TABLE 120	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2016–2019 (USD MILLION)	137
TABLE 121	ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 2020–2026 (USD MILLION)	137
9.4.1	CHINA	138
9.4.1.1	Rapid economic growth augmenting market growth	138
TABLE 122	CHINA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	138
TABLE 123	CHINA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	138
9.4.2	JAPAN	139
9.4.2.1	Development in power and energy sector to propel market	139
TABLE 124	JAPAN: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	139
TABLE 125	JAPAN: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	139
9.4.3	INDIA	139
9.4.3.1	Growing urban population to drive market in commercial building sector	139
TABLE 126	INDIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	140
TABLE 127	INDIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	140
9.4.4	SOUTH KOREA	140
9.4.4.1	Increase in export of electronics propelling consumption of insulation products	140
TABLE 128	SOUTH KOREA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	141
TABLE 129	SOUTH KOREA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	141
9.4.5	REST OF ASIA PACIFIC	141
TABLE 130	REST OF ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	141
TABLE 131	REST OF ASIA PACIFIC: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	142
9.5	REST OF WORLD (ROW)	142
TABLE 132	ROW: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2016–2019 (USD MILLION)	142
TABLE 133	ROW: INSULATION PRODUCTS MARKET SIZE, BY COUNTRY, 
2020–2026 (USD MILLION)	142
TABLE 134	ROW: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	143
TABLE 135	ROW: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	143
TABLE 136	ROW: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2016–2019 (USD MILLION)	143
TABLE 137	ROW: INSULATION PRODUCTS MARKET SIZE, BY END-USE INDUSTRY, 
2020–2026 (USD MILLION)	144
TABLE 138	ROW: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2016–2019 (USD MILLION)	144
TABLE 139	ROW: INSULATION PRODUCTS MARKET SIZE, BY INSULATION TYPE, 
2020–2026 (USD MILLION)	144
9.5.1	SAUDI ARABIA	145
9.5.1.1	Government energy efficiency programs driving demand for insulation products	145
TABLE 140	SAUDI ARABIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2016–2019 (USD MILLION)	145
TABLE 141	SAUDI ARABIA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 2020–2026 (USD MILLION)	145
9.5.2	AFRICA	146
9.5.2.1	Growth of construction sector fueling demand for insulation products	146
TABLE 142	AFRICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	146
TABLE 143	AFRICA: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	146
9.5.3	UAE	146
9.5.3.1	Demand in major end-use industries boosting market growth	146
TABLE 144	UAE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	147
TABLE 145	UAE: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	147
9.5.4	BRAZIL	147
9.5.4.1	Increasing demand for polyurethane foam to drive market	147
TABLE 146	BRAZIL: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2016–2019 (USD MILLION)	148
TABLE 147	BRAZIL: INSULATION PRODUCTS MARKET SIZE, BY MATERIAL TYPE, 
2020–2026 (USD MILLION)	148
9.5.5	REST OF SOUTH AMERICA, MIDDLE EAST & AFRICA (REST OF SA, MEA)	148
9.5.5.1	Economic growth and growing infrastructure driving end-use industries	148
TABLE 148	REST OF SA, MEA: INSULATION PRODUCTS MARKET SIZE, 
BY MATERIAL TYPE, 2016–2019 (USD MILLION)	149
TABLE 149	REST OF SA, MEA: INSULATION PRODUCTS MARKET SIZE, 
BY MATERIAL TYPE, 2020–2026 (USD MILLION)	149
10	COMPETITIVE LANDSCAPE	150
10.1	INTRODUCTION	150
10.2	MARKET EVALUATION FRAMEWORK	150
FIGURE 36	INSULATION PRODUCTS MARKET EVALUATION FRAMEWORK, 2018–2022	150
10.3	STRATEGIES ADOPTED BY KEY PLAYERS	151
TABLE 150	OVERVIEW OF STRATEGIES ADOPTED BY INSULATION PRODUCTS MANUFACTURERS	151
10.4	MARKET SHARE ANALYSIS	153
10.4.1	RANKING OF KEY MARKET PLAYERS, 2020	153
FIGURE 37	RANKING OF TOP FIVE PLAYERS IN INSULATION PRODUCTS MARKET, 2020	153
10.4.2	MARKET SHARE OF KEY PLAYERS	153
TABLE 151	INSULATION PRODUCTS MARKET: DEGREE OF COMPETITION	154
FIGURE 38	COVESTRO AG IS LEADING INSULATION PRODUCTS MARKET	154
10.4.2.1	Covestro AG	154
10.4.2.2	Saint-Gobain ISOVER	155
10.4.2.3	Owens Corning	155
10.4.2.4	Knauf Insulation	155
10.4.2.5	Rockwool International A/S	155
FIGURE 39	REVENUE ANALYSIS OF LEADING PLAYERS	155
TABLE 152	REVENUE ANALYSIS OF LEADING PLAYERS (USD MILLION)	156
10.5	COMPANY PRODUCT FOOTPRINT ANALYSIS	156
TABLE 153	INSULATION PRODUCTS MARKET: MATERIAL TYPE FOOTPRINT	156
TABLE 154	INSULATION PRODUCTS MARKET: REGION TYPE FOOTPRINT	157
10.6	COMPANY EVALUATION MATRIX (TIER 1)	158
10.6.1	TERMINOLOGY/NOMENCLATURE	158
10.6.1.1	Stars	158
10.6.1.2	Emerging Leaders	158
10.6.1.3	Pervasive	158
10.6.1.4	Participants	158
FIGURE 40	COMPANY EVALUATION MATRIX FOR INSULATION PRODUCTS MARKET	159
10.7	START-UPS/ SMES EVALUATION MATRIX	160
10.7.1	TERMINOLOGY/ NOMENCLATURE	160
10.7.1.1	Progressive companies	160
10.7.1.2	Responsive companies	160
10.7.1.3	Dynamic companies	160
10.7.1.4	Starting blocks	160
FIGURE 41	START-UP/ SMES EVALUATION MATRIX FOR INSULATION PRODUCTS MARKET	161
10.8	COMPETITIVE SITUATIONS AND TRENDS	162
10.8.1	NEW PRODUCT LAUNCHES	162
TABLE 155	INSULATION PRODUCTS MARKET: NEW PRODUCT LAUNCHES, JANUARY 2018–JANUARY 2022	162
10.8.2	DEALS	163
TABLE 156	INSULATION PRODUCTS MARKET: DEALS, JANUARY 2018–JANUARY 2022	163
10.8.3	OTHER DEVELOPMENTS	165
TABLE 157	INSULATION PRODUCTS MARKET: OTHER DEVELOPMENTS, 
JANUARY 2018–JANUARY 2022	165
11	COMPANY PROFILES	167
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
11.1	KEY PLAYERS	167
11.1.1	COVESTRO AG	167
TABLE 158	COVESTRO AG: BUSINESS OVERVIEW	167
FIGURE 42	COVESTRO AG: COMPANY SNAPSHOT	168
TABLE 159	COVESTRO AG: PRODUCT LAUNCHES	170
TABLE 160	COVESTRO AG: DEALS	170
TABLE 161	COVESTRO AG: OTHER DEVELOPMENTS	171
11.1.2	SAINT-GOBAIN ISOVER	173
TABLE 162	SAINT-GOBAIN ISOVER: BUSINESS OVERVIEW	173
TABLE 163	SAINT-GOBAIN ISOVER: DEALS	174
11.1.3	OWENS CORNING	175
TABLE 164	OWENS CORNING: BUSINESS OVERVIEW	175
FIGURE 43	OWENS CORNING: COMPANY SNAPSHOT	176
TABLE 165	OWENS CORNING: PRODUCT LAUNCHES	178
TABLE 166	OWENS CORNING: DEALS	178
TABLE 167	OWENS CORNING: OTHER DEVELOPMENTS	179
11.1.4	KNAUF INSULATION	181
TABLE 168	KNAUF INSULATION: BUSINESS OVERVIEW	181
TABLE 169	KNAUF INSULATION: OTHER DEVELOPMENTS	182
11.1.5	ROCKWOOL INTERNATIONAL A/S	183
TABLE 170	ROCKWOOL INTERNATIONAL A/S: BUSINESS OVERVIEW	183
FIGURE 44	ROCKWOOL INTERNATIONAL A/S: COMPANY SNAPSHOT	184
TABLE 171	ROCKWOOL INTERNATIONAL A/S: PRODUCT LAUNCHES	185
TABLE 172	ROCKWOOL INTERNATIONAL A/S: DEALS	185
TABLE 173	ROCKWOOL INTERNATIONAL A/S: OTHER DEVELOPMENTS	186
11.1.6	KINGSPAN GROUP	188
TABLE 174	KINGSPAN GROUP: BUSINESS OVERVIEW	188
FIGURE 45	KINGSPAN GROUP: COMPANY SNAPSHOT	189
TABLE 175	KINGSPAN GROUP: DEALS	190
TABLE 176	KINGSPAN GROUP: OTHER DEVELOPMENTS	190
11.1.7	ARMACELL INTERNATIONAL S.A.	191
TABLE 177	ARMACELL INTERNATIONAL S.A.: BUSINESS OVERVIEW	191
FIGURE 46	ARMACELL INTERNATIONAL S.A.: COMPANY SNAPSHOT	192
TABLE 178	ARMACELL INTERNATIONAL S.A.: PRODUCT LAUNCHES	193
TABLE 179	ARMACELL INTERNATIONAL S.A.: DEALS	194
11.1.8	HUNTSMAN CORPORATION	196
TABLE 180	HUNTSMAN CORPORATION: BUSINESS OVERVIEW	196
FIGURE 47	HUNTSMAN CORPORATION: COMPANY SNAPSHOT	197
TABLE 181	HUNTSMAN CORPORATION: PRODUCT LAUNCHES	198
TABLE 182	HUNTSMAN CORPORATION: DEALS	199
TABLE 183	HUNTSMAN CORPORATION: OTHER DEVELOPMENTS	199
11.1.9	JOHNS MANVILLE CORPORATION	201
TABLE 184	JOHNS MANVILLE CORPORATION: BUSINESS OVERVIEW	201
TABLE 185	JOHNS MANVILLE CORPORATION: PRODUCT LAUNCHES	202
TABLE 186	JOHNS MANVILLE CORPORATION: DEALS	203
TABLE 187	JOHNS MANVILLE CORPORATION: OTHER DEVELOPMENTS	203
11.1.10	URSA INSULATION S.A.	205
TABLE 188	URSA INSULATION S.A.: BUSINESS OVERVIEW	205
11.1.11	BASF SE	206
TABLE 189	BASF SE: BUSINESS OVERVIEW	206
FIGURE 48	BASF SE: COMPANY SNAPSHOT	207
TABLE 190	BASF SE: PRODUCT LAUNCH	208
11.1.12	CHINA JUSHI CO., LTD.	209
TABLE 191	CHINA JUSHI CO., LTD.: BUSINESS OVERVIEW	209
TABLE 192	CHINA JUSHI CO., LTD.: PRODUCT LAUNCHES	210
TABLE 193	CHINA JUSHI CO., LTD.: OTHER DEVELOPMENTS	210
11.1.13	ROGERS CORPORATION	211
TABLE 194	ROGERS CORPORATION: BUSINESS OVERVIEW	211
FIGURE 49	ROGERS CORPORATION: COMPANY SNAPSHOT	212
TABLE 195	ROGERS CORPORATION: PRODUCT LAUNCHES	213
TABLE 196	ROGERS CORPORATION: DEALS	213
TABLE 197	ROGERS CORPORATION: OTHER DEVELOPMENTS	213
11.1.14	RECTICEL NV/SA	214
TABLE 198	RECTICEL NV/SA: BUSINESS OVERVIEW	214
FIGURE 50	RECTICEL NV/SA: COMPANY SNAPSHOT	215
TABLE 199	RECTICEL NV/SA: DEALS	216
11.1.15	ASPEN AEROGELS, INC.	217
TABLE 200	ASPEN AEROGELS, INC.: BUSINESS OVERVIEW	217
FIGURE 51	ASPEN AEROGELS, INC.: COMPANY SNAPSHOT	217
TABLE 201	ASPEN AEROGELS, INC.: DEALS	218
11.2	OTHER PLAYERS	219
11.2.1	NANO TECH CO. LTD.	219
TABLE 202	NANO TECH CO. LTD.: BUSINESS OVERVIEW	219
11.2.2	MORGAN ADVANCED MATERIALS PLC	220
TABLE 203	MORGAN ADVANCED MATERIALS PLC: BUSINESS OVERVIEW	220
FIGURE 52	MORGAN ADVANCED MATERIALS PLC: COMPANY SNAPSHOT	221
11.2.3	GAF MATERIALS CORPORATION	223
TABLE 204	GAF MATERIALS CORPORATION: BUSINESS OVERVIEW	223
11.2.4	CELLOFOAM INTERNATIONAL GMBH	224
TABLE 205	CELLOFOAM INTERNATIONAL GMBH: BUSINESS OVERVIEW	224
TABLE 206	CELLOFOAM INTERNATIONAL GMBH: PRODUCT LAUNCHES	225
11.2.5	WINCELL	226
TABLE 207	WINCELL: BUSINESS OVERVIEW	226
11.2.6	L’ISOLANTE K’FLEX S.P.A	227
TABLE 208	L’ISOLANTE K-FLEX S.P.A: BUSINESS OVERVIEW	227
TABLE 209	L’ISOLANTE K-FLEX S.P.A: OTHER DEVELOPMENTS	229
11.2.7	HIRA INDUSTRIES LLC	230
TABLE 210	HIRA INDUSTRIES LLC: BUSINESS OVERVIEW	230
11.2.8	AEROFLEX COMPANY LIMITED	231
TABLE 211	AEROFLEX COMPANY LIMITED: BUSINESS OVERVIEW	231
11.2.9	SOPREMA GROUP	232
TABLE 212	SOPREMA GROUP: BUSINESS OVERVIEW	232
TABLE 213	SOPREMA GROUP: OTHER DEVELOPMENTS	234
11.2.10	ATLAS ROOFING CORPORATION	235
TABLE 214	ATLAS ROOFING CORPORATION: BUSINESS OVERVIEW	235
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
12	ADJACENT AND RELATED MARKETS	236
12.1	INTRODUCTION	236
12.2	LIMITATION	236
12.3	ACOUSTIC INSULATION MARKET	236
12.3.1	MARKET DEFINITION	236
12.3.2	MARKET OVERVIEW	237
12.4	ACOUSTIC INSULATION MARKET, BY REGION	237
TABLE 215	ACOUSTICS INSULATION MARKET SIZE, BY REGION, 2017–2020 (KILOTON)	237
TABLE 216	ACOUSTIC INSULATION MARKET SIZE, BY REGION, 2021–2026 (KILOTON)	237
12.4.1	ASIA PACIFIC	238
12.4.1.1	By country	238
TABLE 217	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (KILOTON)	238
TABLE 218	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (KILOTON)	238
TABLE 219	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (USD MILLION)	239
TABLE 220	ASIA PACIFIC: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (USD MILLION)	239
12.4.2	EUROPE	240
12.4.2.1	By country	240
TABLE 221	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (KILOTON)	240
TABLE 222	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (KILOTON)	240
TABLE 223	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (USD MILLION)	241
TABLE 224	EUROPE: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (USD MILLION)	241
12.4.3	NORTH AMERICA	242
12.4.3.1	By country	242
TABLE 225	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (KILOTON)	242
TABLE 226	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (KILOTON)	242
TABLE 227	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (USD MILLION)	242
TABLE 228	NORTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (USD MILLION)	243
12.4.4	MIDDLE EAST & AFRICA	243
12.4.4.1	By country	243
TABLE 229	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (KILOTON)	243
TABLE 230	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (KILOTON)	243
TABLE 231	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2017–2020 (USD MILLION)	244
TABLE 232	MIDDLE EAST & AFRICA: ACOUSTIC INSULATION MARKET SIZE, 
BY COUNTRY, 2021–2026 (USD MILLION)	244
12.4.5	SOUTH AMERICA	244
12.4.5.1	By country	244
TABLE 233	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (KILOTON)	244
TABLE 234	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (KILOTON)	245
TABLE 235	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2017–2020 (USD MILLION)	245
TABLE 236	SOUTH AMERICA: ACOUSTIC INSULATION MARKET SIZE, BY COUNTRY, 
2021–2026 (USD MILLION)	245
13	APPENDIX	246
13.1	DISCUSSION GUIDE	246
13.2	KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	249
13.3	AVAILABLE CUSTOMIZATIONS	251
13.4	RELATED REPORTS	251
13.5	AUTHOR DETAILS	252
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