Saudi Arabia Elevator Market Research Report, 2029

The Saudi Arabian elevator market has passed through significant transformation in the last few decades due to rapid urbanization, economic diversification, and infrastructural development. History can be traced back to when demand for elevators started to rise with high-rise buildings, commercial centers, and residential complexes that sprouted across major cities like Riyadh, Jeddah, and Dhahran. The market was dominated by international brands, but as the sector started to mature, local and regional players began to arrive in force. Elevator market set regulations in Saudi Arabia are strict, while quality, safety, and efficiency are the focal concerns. The national standards linked with elevator installation are provided by the Saudi Standards, Metrology, and Quality Organization (SASO), which ensures that such installations are executed in accordance with international safety norms. The Saudi Building Code (SBC) has certain requirements with regard to elevator design and maintenance in furtherance of the safety of the system and functionality. Adherence to these regulations is mandatory for obtaining construction permissions and operation licenses. Some prominent global players in the Saudi elevator market are Otis, Schindler, and KONE, supplemented by regional players such as Al-Fozan and Al-Babtain. These firms serve various segments: residential, commercial, and industrial elevators. The highest sale volume would correspond to urban development projects: high-luxury residential towers, shopping malls, and high-rise office buildings. Advanced elevator solutions have also seen growth in demand contributed by the government's initiative and megaprojects like NEOM and the Red Sea Project. According to the research report, "Saudi Arabia Elevator Market Research Report, 2029," published by Actual Market Research, the Saudi Arabia elevator market is anticipated to add to more than USD 510 Million by 2024–29. Technological advancements are central to market evolution, with the integration of smart technologies such as IoT and predictive maintenance enhancing elevator efficiency and reliability. These innovations allow for real-time monitoring, data analytics, and early detection of potential issues, thus improving overall performance and reducing downtime. High-rise developments significantly influence the market, as the proliferation of skyscrapers and tall buildings necessitates advanced elevator systems that can handle high traffic and deliver swift service across multiple floors. This includes the demand for high-speed elevators and systems with advanced safety features to ensure smooth operation in towering structures. Climate considerations are crucial in Saudi Arabia, given the region’s extreme temperatures and harsh environmental conditions. Elevators must be designed to withstand high heat and sand infiltration, which affects their mechanical components and overall longevity. Consequently, there is a growing demand for robust cooling systems and durable materials that can endure the local climate. Luxury and customization have become increasingly prominent, driven by a rising number of high-net-worth individuals and upscale real estate projects. There is a strong demand for elevators with bespoke design options, premium finishes, and advanced features tailored to luxurious living spaces and commercial environments. Accessibility features are also gaining importance as inclusivity becomes a priority. Elevators equipped with features such as Braille controls, voice announcements, and low-level buttons are essential for providing equitable access and complying with international accessibility standards, ensuring that elevators serve all users effectively.

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Hydraulic elevators are known for their robust performance and are widely used in low to mid-rise buildings. In Saudi Arabia, these elevators are commonly found in residential buildings and smaller commercial structures. Their appeal lies in their simplicity and cost-effectiveness for buildings with up to five or six floors. Hydraulic systems are ideal for applications where space for a machine room is available, as they operate with a hydraulic pump that requires additional space. Their ability to handle moderate traffic volumes and lower installation costs makes them suitable for many traditional and suburban developments in the region. Traction elevators, which use ropes and pulleys driven by a motor, are prevalent in high-rise buildings and large commercial properties in Saudi Arabia. Their efficiency and ability to serve tall structures make them the preferred choice for skyscrapers and multi-story office buildings in cities like Riyadh and Jeddah. These elevators are favored for their smooth and quiet operation, as well as their capability to manage high traffic volumes. Machine Room-Less traction elevators are increasingly popular in modern Saudi Arabian buildings due to their space-saving design and energy efficiency. These elevators eliminate the need for a separate machine room, making them suitable for both new construction and retrofits in urban environments. They are commonly used in mid-rise residential buildings and commercial spaces where maximizing usable floor area is crucial. Others category includes specialized elevator types such as pneumatic (vacuum) elevators and freight elevators. In Saudi Arabia, pneumatic elevators are often used in luxury residences or boutique hotels due to their unique aesthetic appeal and smooth ride. Freight elevators are employed in commercial and industrial settings, including warehouses and shopping malls, where they handle heavy loads and facilitate efficient movement of goods. The new equipment segment in Saudi Arabia is driven by rapid urbanization and large-scale construction projects. This includes high-rise buildings, commercial complexes, and luxury residential towers. The demand for new elevators is particularly strong in cities like Riyadh, Jeddah, and Dhahran, where significant infrastructure development is underway. The focus here is on integrating the latest technology, such as smart and energy-efficient elevators, to meet the evolving needs of modern urban environments. The maintenance segment is crucial due to the growing number of installed elevators in the country. Regular maintenance is essential to ensure the safety, reliability, and longevity of elevators, especially in commercial and residential buildings with high usage rates. In Saudi Arabia, this segment sees significant activity due to the increasing focus on building safety and regulatory compliance. Compared to other countries, the maintenance business in Saudi Arabia benefits from the high volume of existing installations and the necessity to adhere to stringent safety standards set by local regulations. This sector is vital in maintaining the operational efficiency and safety of elevators, given the harsh climatic conditions that can impact equipment performance. The others segment includes modernization, retrofitting, and specialized solutions like freight elevators and pneumatic systems. Modernization projects are particularly prevalent in older high-rise buildings and commercial properties, where there is a push to enhance performance and comply with current regulations. Compared to other countries, Saudi Arabia's focus on retrofitting and modernization is supported by its ambitious development projects and the need to integrate advanced technologies into existing infrastructure. In Saudi Arabia, residential applications are a significant segment of the elevator market. Elevators in residential buildings, ranging from luxury apartments to mid-rise condominiums, are predominantly traction elevators and machine room-less (MRL) traction elevators. Traction elevators are often used in taller residential buildings due to their efficiency and smooth operation. MRL traction elevators are favored for their space-saving design and energy efficiency, which is ideal for modern residential complexes where maximizing usable space is crucial. These elevators are commonly found in upscale residential areas in cities like Riyadh and Jeddah, where there is a demand for both high performance and aesthetic appeal. The commercial segment in Saudi Arabia includes office buildings, shopping malls, and hotels. Traction elevators dominate this application due to their ability to handle high traffic volumes and provide rapid service in multi-story buildings. In high-rise office towers and large shopping malls, advanced traction systems ensure smooth and efficient vertical transportation for large numbers of people. Machine room-less (MRL) traction elevators are also increasingly used in commercial settings for their space-saving and energy-efficient properties. This segment benefits from the growing commercial infrastructure in cities like Riyadh and Jeddah, driven by economic diversification and increased business activities. In the industrial sector, including warehouses and manufacturing facilities, freight elevators and hydraulic elevators are commonly used. Freight elevators are essential for transporting heavy goods and materials between floors in industrial settings. Their robust construction and capacity make them ideal for handling substantial loads and facilitating efficient logistics. Hydraulic elevators are also used in some industrial applications for their reliability and straightforward maintenance, particularly in low to mid-rise industrial buildings. This segment supports the growing industrial base in cities such as Dhahran and Jubail, where large-scale industrial operations are concentrated.

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Nikita Jabrela

Business Development Manager

COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in Saudi Arabia due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of Saudi Arabia prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: Saudi Arabia • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Saudi Arabia Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Type: • Hydraulic • Traction • Machine Room-Less Traction • Others By Business: • New Equipment • Maintenance • Others (Modernization) By Application: • Residential • Commercial • Industrial The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.