Elevator and Escalator Market in Japan 2014-2018 - Introduction of High-speed Elevators with Fujitec, Hitachi, Mitsubishi Electric & Toshiba Dominating

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Apr 02, 2015, 07:52 ET

DUBLIN, Mar. 31, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/qwpm3r/elevator_and) has announced the addition of the "Elevator and Escalator Market in Japan 2014-2018" report to their offering.

The Elevator and Escalator market in Japan to grow at a CAGR of 4.73% over the period 2013-2018

Elevators and escalators are used for efficient movement of people and goods within a building's premises. Elevators and escalators are installed in commercial buildings, residential buildings, mixed-used buildings, IT parks, hotels, restaurants, and retail outlets. They are also installed in public places to improve vehicle parking management.

This report covers the present scenario and the growth prospects of the Elevator and Escalator market in Japan for the period 2014-2018. To calculate the market size, the report considers the revenue generated from the domestic market and exports of elevators and elevators in Japan. The domestic market constitutes installation, maintenance and repairs, and modernization of elevators and escalators within Japan.

One major trend upcoming in this market is the emergence of energy-efficient elevators and escalators. Vendors are spending more on their R&D activities to develop new and innovative products that consume less energy owing to the growing demand for energy-efficient elevators and escalators in Japan.

According to the report, steady growth of the elevator and escalator equipment maintenance business is one of the key factors propelling market growth. This is driving the growth of the market in Japan as there is an imminent rise in the revenue generated from the maintenance and repair of elevators and escalators, which contributes directly to the market on the whole.

Further, the report states that high cost of elevators and escalators is one of the key challenges in the market. The price of elevators and escalators has increased because of advances in technology. a result of the high manufacturing costs, the profit margin of the vendors also reduces.

In addition, the report discusses the major drivers that influence the growth of the Elevator and Escalator market in Japan. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.

Key Vendors