GCC Elevator and Escalator Market 2018-2022 - Elevators that
DUBLIN, Jan. 11, 2019 /PRNewswire/ --
The "Elevator and Escalator Market in the GCC 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The elevator and escalator market in the GCC will register a CAGR of more than 4% by 2022.
Elevators that go sideways as well as up and down are expected to drive growth in the market. The design of an elevator is a major consideration during its construction, as cable systems take more space in tall buildings. However, elevators that can move sideways can help improve efficiency and facilitate the construction of taller buildings. These rope-less elevators can move side-to-side as well as up and down.
Increasing government spending on construction sector
Governments started undertaking various initiatives to stimulate the construction sector and encourage the private sector to play a key role in the process. Governments in the region started focusing on diversification to the non-oil sectors such as tourism, aviation, shipping, logistics, and infrastructure.
Volatility in raw material prices
Raw materials required for elevators and escalators include steel stock, wire rope, and stainless steel. These materials are used to manufacture different components of elevators and escalators. However, the cost of these materials has been fluctuating due to gap in the demand and supply.
The market appears to be fragmented and with the presence of several companies including Mitsubishi Electric, and Schindler, the competitive environment is quite intense. Factors such as the increasing government spending on construction sector and the elevators that go sideways as well as up and down, will provide considerable growth opportunities to elevator and escalator manufactures.
Fujitec, Hitachi, Hyundai Elevator, KONE, Mitsubishi Electric, and Schindler are some of the major companies covered in this report.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
PART 05: MARKET SIZING
PART 06: FIVE FORCES ANALYSIS
PART 07: MARKET SEGMENTATION BY PRODUCT
PART 08: CUSTOMER LANDSCAPE
PART 09: MARKET SEGMENTATION BY END-USER
PART 10: REGIONAL LANDSCAPE
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
PART 15: VENDOR ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/research/ms2jfc/gcc_elevator_and?w=5
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SOURCE Research and Markets