Escalator Market Overview
According to the extensive analysis of Market Research Future (MRFR), the global escalator market is poised to reach a significant market valuation at a relatively high CAGR over the review period, driven by the several influential factors that are contributing towards its rapid growth in the near future.
The major market players identified by MRFR in the global escalator market include Fujitec (Japan), Dover (USA), Hyundai (South Korea), Mitsubishi (Japan), Kone Corporation (Finland), Omega Elevators (India), Sigma Japan), Schindler (Switzerland), Otis (USA), (and ThyssenKrupp AG (Germany).
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Drivers and Restraints
The rapid evolution of technology in the construction business is assessed as one of the major factors for the overall growth of the global escalator market. The global escalator market is primarily driven by the growing construction industry, rapid urbanization in developed and developing countries across the globe, technological advancements, massive investments, higher demand for security, among others. These crucial factors are contributing to the rapid adoption of escalators and revenue generation in the global escalator market over the review period.
Aug 2019: Johnson Lifts, a leading global manufacturer of elevators and escalators in the market, acquired a deal of USD 29.3 million added order to supply 225 escalators to the metro circuit in Bengaluru, India for its requirement in phase II of expansion.
Aug 2019: ThyssenKrupp Elevator Canada, one of the global giants for elevators and escalators, provided more than 60 elevators and escalators to important buildings at ICE District in Edmonton. The project reinforced ThyssenKrupp’s extensive footprint throughout Canada and represented the advanced mobility leader’s dedication to supplying building owners and the riding consumers with modern vertical transportation solutions that enhance competence and safety.
The global escalator market has been bifurcated on the basis of type, application. The application-based segmentation of the market is into commercial and residential. Both segments are expected to witness high demand and significant growth over the assessment period. On the basis of type, the market has been segmented into spiral type, parallel,multi- crisscross, parallel, and others.
On the basis of region, the Asia Pacific, North America, Europe, and the rest of the world (RoW).
The Asia Pacific is one of the major regional escalator markets across the globe, in terms of both value and volume. This is attributed to the presence of lucrative country-specific markets like China, India, and Japan. in addition to this, the steady technological advancement, rapid urbanization, and growing industrialization are leading to market growth in this region. Other critical country-specific markets in this region are India and Japan, followed by the remaining countries of the Asia Pacific region.
North America and Europe are crucial regional escalators markets and are slated to acquire significant market shares over the review period. This growth is attributed to continual technological advancements, the presence of well-established industries, and major market players in these regions. In North America, the U.S. and Canada are assessed as significant contributors to the market share. In Europe, the leading countries are France, Germany, the Netherlands, Italy, and the UK, followed by the remaining countries of Europe.
The RoW segment consists of South America and the Middle East & Africa (MEA). In the MEA region, the market growth is limited owing to impoverished countries, lack of infrastructure, lack of awareness, of skilled professionals, lack of advanced facilities, lack and lack of education. The market comprising of South America is a smaller market because the availability of advanced technology is limited in this region. Argentina and Brazil are two strong economies that have the potential to rise as lucrative markets in the future.
Scope of Report
The report for Global Escalator Market ofMarket Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Study Objectives of Escalator Market
- To provide detailed analysis of the market structure along with forecast for the next 5 years of various segments and sub-segments of the Global Escalator Market
- To provide insights about factors affecting the market growth
- To analyze the Global Escalator Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (RoW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by types and applications
- To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Escalator Market
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