Elevators and Escalators Market: Challenges to Market Growth, Size, Share, Forec

Posted by Market Research Future on June 1st, 2018

Market research future published a half-cooked research report on GlobalElevators and Escalators Market that contains the information from 2017 to 2023. Global elevators and escalators marketis expected to grow with the CAGR of approximately 6.01% from 2017 to 2023.

Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Elevators and Escalators Market Information from 2017 to 2023"

Elevators and Escalators are the major parts of the day today life. Elevators carry people and goods between different floors in any building and Escalator is a moving staircase, consisting of a circulating belt of steps which are used as source of commute between floors in a public building.

Growing construction industry across the globe is major factor driving the growth of the market. The increasing adoption of escalators and elevators in commercial as well other infrastructures is also done to facilitate the elderly, suffering discomfort on account of long flights of stairs, therefore, increasing aging population (above 60 years) is also fueling the growth of the market. According to the U.S. Census Bureau, in 2015 geriatric population held around 8.5% share of the total population. However, high maintenance costs of elevators and escalators may restrict the growth of the market.

For the purpose of this study, the global elevators and escalators market has been divided into four segments by type, service, elevator technology, and by end user. On the basis of type, elevators accounts for the largest market share and are expected to remain dominant over the forecast period. Based on service, new installation dominates the service segment of the market whereas maintenance & repair services is expected to grow at the highest CAGR during the forecast period.

Hence, the global Elevators and Escalators market is expected to grow at a CAGR of 6.01% during the forecast period.

Ask for your specific company profile and country level customization on reports.KONE Corporation (Finland), Sigma Elevator Company (Korea), Otis Elevator Company (U.S.), United Technologies (U.S.), Schindler (Switzerland), Mitsubishi Electric Corporation (Japan), ThyssenKrupp AG (Germany), FUJITEC (Japan), Hitachi Ltd. (Japan), Hyundai Elevator Co., Ltd. (South Korea), Toshiba Elevator And Building Systems Corporation (Japan), Stein Ltd (Russia), PAPPAS Elevators (Russia), Gulf Elevator & Escalator Co. Ltd. (Saudi Arabia), Electra Ltd. (Israel)

Asia Pacific region dominates the global elevators and escalators market Geographically, the global Elevators and Escalators market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region, has accounted for the largest market share. Increasing industrialization and urbanization is the major factor driving the growth of the market in the region. Key players across the globe are gradually shifting their production facilities to cater to high potential markets in Asia Pacific mainly due to the availability of low-cost labor and ample raw material stocks. This has the positive influence on the growth of the market. Additionally, economic growth in the region has allowed for a greater requirement of institutional and commercial infrastructure spaces. This fuels the growth of the market. China, Japan, India, and Singapore are the major market in Asia Pacific region.

The Middle East & Africa and South America are expected to show the significant growth during the forecast period. Increasing the number of shopping malls & construction of tall building fuelling the growth of the market. For example, in Saudi Arabia the ongoing construction of the tallest building ever name as “Kingdom Tower” which required 65 units of elevators and escalators. This will increase the demand of the market.

North America is another major market for the elevators and escalators. The U.S. is the major contributor in global as well as North America elevators and escalators market. Strong development in commercial and residential structures in the U.S., is anticipated to fuel the demand for market in the region. Increasing repair and rehabilitation activities of existing infrastructure create huge potential demand for market in coming years.

This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.

Access Report Details @ https://www.marketresearchfuture.com/reports/elevators-and-escalators-market-5517

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