NEW YORK, June 28, 2021 /PRNewswire/ -- The elevator and escalator market in Australia is expected to show an incremental growth of USD 426.71 million as per the new report from Technavio. The report projects the market to accelerate at a CAGR of about 4% during the forecast period.
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Factors such as the advent of technologically advanced elevators, the increased urbanization, and the growing demand for eco-friendly elevators and escalators are the major factors driving the elevator and escalator market growth. However, the increased cost of compliance with stringent regulations will hamper the market growth.
Elevator And Escalator Market in Australia: Product Landscape
The elevator and escalator market in Australia witnessed maximum growth in the elevator segment in 2020. The high demand for urbanization in the country contributes to the growth of the market. The market growth in the elevator segment will significant during the forecast period.
Elevator And Escalator Market in Australia: Geographic Landscape
Australia will have lucrative growth in the elevator and escalator market and offers sustainable growth opportunities to vendors during the forecast period.
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Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Service
Customer landscape
Vendor Landscape
Vendor Analysis
Appendix
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