Safety Regulations Drive Technological Advancements in Elevators and Escalators Market: Ken Research

Ken Research has announced latest publication titled “Global Elevators and Escalators Market Status, 2011-2022 Market Historical and Forecasts, Professional Market Research Report, PROFESSIONAL MARKET RESEARCH REPORT”, provide market size and forecast of the industry on various geographies. Report analyses industry chain model, market by value and volume, manufacturing process, cost structure and major plants distribution. It detail capacity, production, capacity utilization rate, price, revenue, cost, gross, gross margin, supply, import, export, consumption, market share, growth rate and more. In terms of geography, report has covered Europe, North America, South America, Asia (Excluding China), China and ROW.

As elevators and escalators use great deal of energy newer energy conserving technologies are being brought into use for eg. Hydraulic lifts are being replaced by a newer technology called Machine room less elevators. It is expected more people will migrate to urban areas from rural areas especially in developing countries like Bangladesh and India. The urbanisation process aided by population growth has majorly seen in Asian regions that can greatly benefit elevators and escalators industry. The industry is steadily growing mainly due to urbanisation and population growth. In the developed markets growth is mainly driven by modernisation. The recent market downturn hurt the industry growth in developed countries

Although elevators and escalators are mostly safe but regular changes in safety regulations lead changes in industry. As codes and regulations change the manufacturer has to maintain and modernise the equipment which may lead to growth in industry.

Demand in elevators and escalators industry is directly related to growth in real estate and construction sector. More construction of high rise buildings will greater. Most of the production of elevators and escalators is done by Otis , Thyysen and kone. Major key driving points in growth of industry are sustainable energy use , aging population growth, codes and regulation and growth construction and real estate.

Major stake holders in installation of elevators and escalators are owner of building, architect, structural engineer, contractor, manufacturer of elevators and escalators.

Major companies in escalator and elevator are as follows

Kone Corporation, United Technologies, Schindler Holding Ltd., Mitsubishi Electric Corporation, Thyssenkrupp AG, Fujitec Co., Ltd., Hitachi Ltd., Hyundai Elevator Co., Ltd., Toshiba Corporation, Electra Ltd.

Major Driving Factors:

  • New installation
  1. Urbanisation
  2. GDP Growth
  3. Construction sector growth
  • Modernisation
  1. Aging of existing equipment
  2. Legislation and safety requirements
  • Maintenance
  1. Growth in installation
  2. Legislation and safety requirements

Topics covered in the Report

  • Global Elevators and Escalators Market Research
  • North America Elevators Market
  • Europe Escalators Market research
  • North America Elevators Demand
  • Elevators capacity utilization rate
  • Global Hydraulic lifts Demand
  • Global Elevators and Escalators Import
  • Global Elevators and Escalators Export
  • Global Elevators Market Forecast
  • Elevators and Escalators Market Regulations

For more coverage Click on the link below

https://www.kenresearch.com/manufacturing-and-construction/infrastructure/global-elevators-escalators-market/73027-97.html

Related Links

Global Elevators and Escalators Market Outlook to 2016 – Rising Expansion in Asia Pacific Region

Contact:

Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

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