Market Forecast By Types ( Elevator and Escalator), By Applications (Commercial, Industrial and Residential), By Services (New Installation, Maintenance, and Modernization), By Regions (Kuwait and Rest of Kuwait), and Competitive Landscape
|Product Code: ETC000587||Publication Date: Apr 2019||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 102||No. of Figures: 47||No. of Tables: 8|
Kuwait elevator and escalator market are anticipated to recover and witness a period of stable growth during the forecast period due to the completion of construction projects and a reviving construction sector as well as efforts to diversify the economy are likely to supplement the growth Elevator and Escalator market in Kuwait over the coming years.
According to 6Wresearch, Kuwait elevator and escalator market size is projected to grow at a CAGR of 2.3% during 2019-25. The elevator segment captured the majority of the market share in the overall elevator & escalator market in Kuwait, wherein the majority of the installations were witnessed in the residential, retail, transportation, and hospitality sectors. Amongst all the elevators segments, passenger elevators acquired the highest revenue share of the market.
The commercial application market is the leading revenue-generating segment in the Kuwait elevator and escalator market owing to the increase in installation of elevators and escalators in the retail and transportation market, especially of moving walkways in the retail market. Further, the construction sector is anticipated to expand at a rapid pace with infrastructure development taking precedence in the construction activities in the region. Additionally, major hotel chains are expanding their presence across the country as the country tries to place itself as a tourist hub in the GCC region. Large-scale government infrastructure development projects, such as Kuwait Vision 2035 which aims to develop countries’ road, rail, and airport networks and development of other social infrastructure, are also strengthening the construction sector in the region. These factors would translate into an increase in the demand for elevators and escalators in the country in near future.
In Kuwait, the new installation of elevator and escalator held the majority of the revenue share of the Kuwait elevator and escalator market, owing to increasing infrastructure development activities, especially in the commercial and transportation verticals. Further, modernization and maintenance are also expected to witness a constant increase due to a large number of aging bases and increasing safety regulations.
The Kuwait elevator and escalator market report thoroughly covers the market by elevator types, escalator types, services types, and applications. The Kuwait elevator and escalator market outlook report provides an unbiased and detailed analysis of the ongoing Kuwait elevator and escalator Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report
Saudi Arabia Elevator and Escalator Market Report Covered:
The report provides a detailed analysis of the following market segments:
Other Key Reports Related to Elevator & Escalator Market include:
Other Key Reports Available:
|Global Frozen Food Market||APAC Industrial Hose Market|
|Latin America Frozen Food Market||Saudi Arabia Earthmoving Equipment Rental Market|