Elevator and Escalator Market in GCC Countries by Product and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR70619
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The elevator and escalator market size in GCC countries is expected to grow by 1874 units and record a CAGR of 2.56% during 2021-2025.

This post-pandemic elevator and escalator market in GCC countries report has assessed the shift in consumer behavior and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this elevator and escalator market in GCC countries analysis report, key drivers such as increasing government spending on construction sector have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as reluctance to modernize elevators and reduce their energy use, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Elevator and Escalator Market Size in GCC Countries be in 2021?

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Who are the Key Vendors in the Elevator and Escalator Market in GCC Countries?

The elevator and escalator market in GCC countries forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:

 

  • Fujitec Co. Ltd.
  • Hitachi Ltd.
  • Hyundai Elevator Co. Ltd.
  • KONE Corp.
  • Mitsubishi Electric Corp.
  • Otis Worldwide Corp.
  • Schindler Holding Ltd.
  • Sigma Elevator Co.
  • Toshiba Corp.
  • thyssenkrupp AG

 

The elevator and escalator market in GCC countries is fragmented and the vendors are deploying various growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

This elevator and escalator market in GCC countries report further entails segmentation by product (elevators and escalators) and geography (Saudi Arabia, Qatar, UAE, Oman, Kuwait, and Bahrain). View our sample report to gather market insights on the segmentations.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post COVID-19 impact on each product and service segments.

 

What is the Market Segmentation for Elevator and Escalator Market in GCC Countries?

Elevator-And-Escalator-Market-In-GCC-Countries-Market-Share-by-Product-2020-2025

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The report offers an up-to-date analysis of the market segmentation by product. Saudi Arabia will record a fast growth rate during 2021-2025, and the country will offer several growth opportunities to market vendors. To garner further competitive intelligence and opportunities in store for vendors in various market segments, view our sample report. This report provides estimations of the contribution of all regions to the growth of the elevator and escalator market size in GCC countries.

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What are the Key Factors Covered in this Elevator and Escalator Market in GCC Countries Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive elevator and escalator market growth in GCC countries during the next five years
  • Precise estimation of the elevator and escalator market size in GCC countries and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the elevator and escalator market in GCC countries across Saudi Arabia, Qatar, UAE, Oman, Kuwait, and Bahrain
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of elevator and escalator market vendors in GCC countries

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The elevator and escalator market growth will increase by $1874.00 units during 2020-2025.
The elevator and escalator market is expected to grow at a CAGR of 2.56% during 2020-2025.
Technavio has segmented the elevator and escalator market by product (Elevators and Escalators) ,other1 (Saudi Arabia, Qatar, UAE, Oman, and Others) , and geographic (Saudi Arabia, Qatar, UAE, Oman, and Kuwait).
Fujitec Co. Ltd., Hitachi Ltd., Hyundai Elevator Co. Ltd., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Schindler Holding Ltd., Sigma Elevator Co., Toshiba Corp., thyssenkrupp AG are a few of the key vendors in the elevator and escalator market.
Saudi Arabia will register the highest growth rate of 38.25% among the other regions. Therefore, the elevator and escalator market in Saudi Arabia is expected to garner significant business opportunities for the vendors during the forecast period.
  • Saudi Arabia
  • Qatar
  • UAE
  • Oman
  • Kuwait
  • Bahrain
The key factors driving the elevator and escalator market growth are:
  • Increasing government spending on construction sector
  • Elevators that go sideways as well as up and down
The elevator and escalator market vendors should focus on grabbing business opportunities from the elevators segment as it accounted for the largest market share in the base year.
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