Market outlook of the elevator and escalator market in Argentina
Technavio’s market research analyst has estimated eminent factors such as the recent increase in construction activities and the rapid rise in population to boost the demand for housing and infrastructural development in the country during the forecast period. This increase in construction activities is expected to augment growth in this market during the forecast period and results in its modest CAGR of nearly 5% by 2019.
Growth of the maintenance and modernization business is the key driver for the growth of this market. Uncontrolled movement of the elevator car, faster wear and tear of cables, improper functioning of elevator doors, and faults in electrical circuits of control systems are some of the critical problems faced by the elevator users in Argentina. Such problems augment the demand for maintenance and modernization services, which in turn is expected to incite market growth during the forecast period.
Product-based segmentation of the elevator and escalator market in Argentina
In this market research report, analysts estimate the escalators segment to exhibit an impressive market growth rate of nearly 7.5% by 2019. This segment is envisaged to be the fastest growing segment during the forecast period, and its high market growth rate can be attributed to factors like the limited number of major high-rise construction projects in the country.
Competitive landscape and key vendors
This market is highly competitive and is primarily dominated by large players like ThyssenKrupp and Schindler. Despite the presence of large vendors in this market, regional companies like Simonelli, Condor, and Servas provide amenities like elevator and escalator installation, maintenance, and modernization services in Argentina. These regional vendors are cost effective and provide affordable solutions to SMEs and smaller construction companies that primarily engage in small/medium-scale residential or commercial development projects.
Key vendors in this market are -
Other prominent vendors analyzed in this market research are Ascensores Condor, Ascensores Servas, Ascensores Simonelli, Idemver Argentina,and Sigma Elevator.
Growth driver, challenges, and upcoming trends: Elevator and escalator
Upcoming trends like the introduction of machine room-less (MRL) elevators are rapidly gaining popularity as they consume less space than conventional elevators. The frequency of MRL elevator installation is expected to increase during the forecast period as it is more cost-effective and energy-efficient when compared to conventional elevators.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the elevator and escalator market in Argentina. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the elevator and escalator market in Argentina?
What are the key market trends impacting the growth of the elevator and escalator market in Argentina?
What are the challenges to market growth?
Who are the key vendors in the elevator and escalator market in Argentina?
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