[b]Elevators[/b] have become a necessity in buildings accounting to many reasons such as number of floors in a building, easy transfer of heavy loads and the time takes by the elevator when compared to its other counterpart. Existence of Elevators has increased the efficiency of our day to day lifestyle, but on the other hand it consumes some amount of energy which collectively makes up to immense amount of energy used.

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Traditional elevators use about 4% of the electricity in buildings. Many unexploited saving possibilities exist with respect to energy efficient technologies, investment decisions and innovative approaches. The need to making this existing elevator system has given rise to the [b]Energy Efficient Elevators Market[/b].

Energy efficient elevators operate on advanced systems like sensors, controllers, motors and drivers which help consume less energy and decreases the waiting time of passengers. According to KONE, a leading elevators manufacturing company in the world, buildings account for 40% of global energy consumption. Rising energy costs and increasing global awareness of protecting the environment have brought a global reconsideration in the planning, building and modernization of buildings.

[b]Elevator manufacturers[/b] are producing premium elevators which not only consume less energy but also are very compact, efficient and also generate electricity in some cases using regenerative braking to support the system. In which the elevators will give back some amount of energy back it has consumed.

Energy Efficient Elevators Market is ascending with the increase in demands for elevators in residential, commercial, office infrastructures and others. Statistics regarding the installation of elevators reveal that residential buildings account for 64%, followed by 14% in office infrastructures.

[b]Energy efficient elevators[/b] have state of the art digital security control systems such as biometrics, sensors, touch screen, destination dispatching and access control, which make these superior over regular elevators. Elevators can be automated by using sensors and controllers, motors and drivers and BMS which are energy efficient.

Energy Efficient Elevators Market has huge scope in countries where infrastructure and industrialization is growing leaps and bounds.

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According to IndustryARC market studies, Notable [b]companies in the Energy Efficient Elevators Market[/b] are:
• KONE
• Schindler group
• Hitachi Ltd.
• OTIS Elevator Company
• Hyundai Elevators co. Ltd.

Energy Efficient Elevators Market has a great demand since elevators consumes lots of energy at present and has a constant growth for the upcoming years.

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