The global elevators and escalators market is projected to grow at a healthy CAGR of 7.4% during the assessment period 2017-2026 and reach a valuation of approximately US$ 134 Bn by 2026-end. The growth will be influenced by a range of broad and specific factors that are included in a new market study added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Elevators and Escalators Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026” offers an accurate and unbiased analysis on the future prospects of elevators and escalators market.
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According to the report, the prospects of the elevators and escalators market are closely tied with the broader developments in the construction and infrastructure development sector. The residential and commercial real estate industry accounts for a sizeable demand for elevators and escalators. Recovery in the US housing market, combined with steady demand in developing countries such as China, India, Brazil, and South Africa is likely to offer growth opportunities to key players in this landscape.
The report also opines that adoption of escalators and elevators in the aviation, defense, and logistics sector will also offer growth opportunities to manufacturers during the assessment period. In a bid to reduce delays in logistics and shipping, end-users are investing in escalators and elevators. As the requirement for quick and efficient transportation grows, manufacturers will need to innovate and develop efficient products such as travolators and vertical escalators.
According to the report, new equipment will continue to account for significant sales during the assessment period. Demand for new equipment from government, financial institutions, aviation, and shopping malls is projected to create significant growth opportunities for manufacturers during the assessment period. In terms of revenue, new equipment is expected to rake in over US$ 30 Bn worth of revenues by the end of forecast period.
The report also offers detailed insights on the leading players in the market. The competitive landscape section of the market offers detailed and comprehensive analysis on the business and product strategies of leading players. Some of the key companies profiled in the report include Hitachi, Ltd., Mitsubishi Electric Corporation, SJEC Corporation, Thyssenkrupp AG, Kone Corporation, Toshiba Elevators and Building Systems Corporation, Canny Elevator, Otis Elevator Company, Schindler Group, Fujitec, Hyundai Elevator Co., Ltd., Kleeman Hellas SA and Shanghai Mechanical.
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