Global Elevators and Escalators Market Revenue, Opportunity, Segment and Key Trends 2018-2024
Elevators and Escalators Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of elevators and escalators market by by service type (new installation, maintenance & repair, and refurbishing), application (residential, commercial, and industrial) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the elevators and escalators market it includes the five years Industry analysis and the 6 years annual forecast from to 2024. Some of the prominent participants in the global elevators and escalators market are as Kone Corporation, Schindler Group, Otis Elevator Company, Fujitec, ThyssenKrupp AG, Mitsubishi Electric Corporation, Hitachi, Ltd., Building Systems Corporation, Toshiba Elevators, SJEC Corporation, Hyundai Elevator Co., Ltd., and Shanghai Mechanical. The global elevators and escalators market is projected to grow at a CAGR of 7% over the forecast period of 2018-2024.
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Growing Constructional Activities Across the Globe and Rising Development in Residential and Commercial Buildings Boost the Growth of Elevators and Escalators Market
The rise in population and demographic changes drive the growth of elevators and escalators market. Rapid urbanization and changing the lifestyle of people in urban areas along with increasing adoption of these demographic changes fuel the demand for elevators and escalators. Furthermore, growing constructional activities across the globe and rising development in residential and commercial buildings boost the growth of elevators and escalators market. Moreover, initiatives undertaken by the government such as smart cities along with smart infrastructure will have a positive impact in fueling the market in the forecast period.
Rising use of elevators and escalators in a shopping mall, airports, train stations owing to ease while traveling through floors increases the growth of elevators and escalators market. Emerging economies and huge investment in creating new integrated cities fuel the demand for elevators and escalators market. However, lack of skilled workforce for the after sales maintenance hinders the growth of elevators and escalators market. Furthermore, continuous improvement in infrastructure at public places for convenient traveling expected to provide beneficial opportunities for elevators and escalators market
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Asia Pacific Dominates the Elevators and Escalators Market Owing to Rapid Urbanization and Increasing Adoption of Demographic Changes in the Region
Based on regions, Asia Pacific dominates the elevators and escalators market owing to rapid urbanization and increasing adoption of demographic changes in the region. The large presence of manufacturers and distributors of elevators and escalators in the region fuels the growth of elevators and escalators market in the Asia Pacific region. Furthermore, rising construction activities in the region mainly in India and China owing to the presence of leading manufacturers in the region boosts the growth of elevators and escalators market in the region.
Elevators and Escalators Market: Segmentation
The report on global elevators and escalators market covers segments such as service type and application. On the basis of service type, the sub-markets include new installation, maintenance & repair, and refurbishing. On the basis of application, the sub-markets include residential, commercial, and industrial.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the elevators and escalators.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.