Elevator and Escalator Market in the GCC 2014-2018: Key Vendors are Fujitec, KONE, Mitsubishi Electric, Otis Elevator and Schindler

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Sep 09, 2014, 08:45 ET

DUBLIN, Sept. 9, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Elevator and Escalator Market in the GCC 2014-2018" report to their offering.

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Elevators and escalators are deployed in buildings for the smooth and easy 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 among others. They are also installed in public places to improve vehicle parking management. There are several types of elevators such as passenger elevators, freight elevators, vehicle elevators, and residential elevators.

The analysts forecast the Elevator and Escalator market will grow at a CAGR of 5.39 percent over the period 2013-2018.

This report covers the present scenario and the growth prospects of the Elevator and Escalator market in the GCC for the period 2014-2018. To calculate the market size, the report considers the number of elevator and escalator units installed in different projects running in the GCC countries.

The report, the Elevator and Escalator Market in the GCC 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report focuses on the GCC; it also covers the Elevator and Escalator market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

The Elevator and Escalator market in GCC is witnessing the emergence of green elevators and escalators in the region. As a result of the growing demand for energy-efficient elevators and escalators in the GCC, vendors are spending more on their R&D activities to develop new-generation products. For instance, Schindler 3300 elevators by Schindler claim to be 60 percent more energy-efficient than traditional hydraulic elevators.

Mitsubishi's R&D activities are focused on manufacturing Mitsubishi elevators and escalators Number One Green in the industry. Otis claims its Gen2 MRL elevators reduce energy consumption by 50 per cent of that of traditional units. Moreover, elevators are being incorporated with corridor illumination controls that help in reducing energy consumption in buildings. Further, vendors are designing elevators that shut down their inside lighting until a passenger call arises. Vendors are also incorporating regenerative drives into elevators for increased energy saving. Thus, the market is expected to witness increasing demand for green elevators during the forecast period.

According to the report, the Elevator and Escalator market in GCC is driven by many growth factors, one of which is the increasing construction of skyscrapers. This has driven the growth of the market in GCC as the sale of elevators and escalators is highly correlated with the construction of high buildings. The rising demand for commercial and residential buildings is fueling the growth of the market.

Further, the report states that the high cost of elevators and escalators is one of the key challenges. The price of elevators and escalators has increased because of technological advancements. Moreover, although the newer models consumer less electricity, they are too costly.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Key Topics Covered:

01. Executive Summary

02. List of Abbreviations

03. Scope of the Report

04. Market Research Methodology

05. Introduction

06. GCC: An Overview

07. GCC: Regional Construction Market Overview

08. Elevator and Escalator Market in the GCC: Market Landscape

09. Geographical Segmentation

10. Elevator and Escalator Market in Saudi Arabia

11. Elevator and Escalator Market in UAE

12. Elevator and Escalator Market in Oman

13. Elevator and Escalator Market in Kuwait

14. Elevator and Escalator Market in Qatar

15. Elevator and Escalator Market in Bahrain

16. Buying Criteria

17. Market Growth Drivers

18. Drivers and their Impact

19. Market Challenges

20. Impact of Drivers and Challenges

21. Market Trends

22. Trends and their Impact

23. Vendor Landscape

24. Key Vendor Analysis

25. Other prominent Vendors

26. Other Reports in this Series

Companies Mentioned: