Saudi Arabia Elevator & Escalator Market Opportunity and Forecast 2024
Posted by arshiyashaikh on December 23rd, 2020
Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Elevator & Escalator Market, By Type (Elevator, Escalator and Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural and Others), By Elevator Door Type (Automatic and Manual), By Region, Competition, Forecast & Opportunities, 2024” under Automotive category. The Saudi Arabia Elevator & Escalator Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Elevator & Escalator Market is projected to reach $ 1.25 billion by 2025. Booming construction sector, increasing number of high-rise building projects and rapid infrastructure development are the key factors driving Saudi Arabia elevator & escalator market.
Saudi Arabia elevator & escalator market is segmented based on type, service, elevator technology, end-user, elevator door type, and region. Based on type, the market can be segmented into elevator, escalator and moving walkways. The elevator segment is expected to dominate the market owing to their widespread use in various end user industries. Based on elevator technology, the market can be fragmented into traction, hydraulic and machine room-less traction. The machine room-less traction segment grabbed the largest market share in 2019 and is also expected to grow at the fastest pace during forecast period on account of their higher efficiency and smoother ride.
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Regionally, Saudi Arabia elevator & escalator market has been segmented into Riyadh, Makkah, and Easter Province. Among these regions, Riyadh is expected to dominate the country’s elevator & escalator market majorly due booming construction sector in the region.
Major players operating in Saudi Arabia elevator & escalator market include Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia, among others.
Years considered for this report:
Objective of the Study:
Our Research performed both primary as well as exhaustive secondary research for this study. Initially, Our Research sourced a list of elevator and escalator manufacturers and suppliers across the globe. Subsequently, Our Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Our Research could include the service providers which could not be identified due to the limitations of secondary research. Our Research analyzed the service providers, distribution channels and presence of all major players across the globe.
Our Research calculated the market size of Saudi Arabia elevator & escalator market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Our Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Our Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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About the Authorarshiyashaikh
Joined: February 5th, 2019
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