Nigeria Elevator And Escalator Market | Country-Wise Share and Competition Analysis
In the year 2021, China was the largest exporter in terms of value, followed by Thailand. It has registered a decline of -16.36% over the previous year. While Thailand registered a growth of 31.49% as compared to the previous year. In the year 2017, China was the largest exporter followed by Thailand. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Nigeria has the Herfindahl index of 1989 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of 3017 which signifies high concentration in the market.
Nigeria elevator and escalator market is anticipated to grow at a breakneck speed during the forecast period owing to greater government capital expenditure and likely recovery of the construction sector. Significant growth is anticipated during the forecast period on account of projected growth in the construction market especially of high rise building along with upcoming new hotels & shopping malls as well as increasing inflow of FDI in the construction and retail sectors.
According to 6Wresearch, Nigeria elevator and escalator market size is projected to grow at a CAGR of 5.6% during 2019-25. The elevator segment captured majority of the market share in the overall elevator & escalator market in Nigeria, wherein majority of the installations were witnessed in the commercial, retail, transportation and hospitality sectors. Amongst all the elevator segments, passenger elevators acquired the highest revenue share of the market.
The commercial application market is the leading revenue generating segment in the Nigeria elevator and escalator market owing to increase in installation of elevator and escalator in the retail and transportation market, due to rapid expansion and industrialization in the country. As the country remains largely under retailed, there has been a surge in the number of malls and retail stores across the country. Additionally, large-scale infrastructure development projects, such as Eko Atlantic, Baro in-Land Port, Lagos Light Rail, World Trade Centre, Lekki Free Trade Zone, Abuja Millennium Tower, Abuja Gateway Airport and development of other social infrastructure, are also strengthening the construction sector in the region. These factors would spur the demand for elevator and escalator in the country in near future.
In Nigeria, the new installations segment held majority of the Nigeria elevator and escalator market share, in terms of revenues, owing to increasing infrastructure development activities, especially in the commercial and residential verticals as well as rapid pace of industrial and economic development in the country will supplement the demand of new units for elevators and escalators. Further, the modernisation and maintenance segment is likely to witness a positive growth trajectory in Nigeria elevator and escalator due to increasing installations and increasing safety regulations.
The Nigeria elevator and escalator market report thoroughly covers the market by elevator types, escalator types, service types and applications. The Nigeria elevator and escalator market outlook report provides an unbiased and detailed analysis of the on-going Nigeria elevator and escalator market trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report:
- Nigeria Elevator and Escalator Market Overview
- Nigeria Elevator and Escalator Market Outlook
- Nigeria Elevator and Escalator Market Forecast
- Nigeria Elevator and Escalator Market Share, By Countries
- Nigeria Elevator and Escalator Market Size and Historical Data of Nigeria Elevator and Escalator Market Revenues & Volume for the Period 2015-2018
- Nigeria Elevator and Escalator Market Forecast of Revenues & Volume Until 2025
- Historical Data & Forecast of Nigeria Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical Data & Forecast of Nigeria Elevator Market Revenues & Volume for the Period 2015-2025F
- Historical Data & Forecast of Nigeria Escalator Market Revenues & Volume for the Period 2015-2025F
- Historical Data & Forecast of Nigeria Elevator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical Data & Forecast of Nigeria Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical Data & Forecast of Nigeria Elevator and Escalator Regional Market Revenues for the Period 2015-2025F
- Market Drivers, Restraints and Trends
- Nigeria Elevator and Escalator Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Nigeria Elevator and Escalator Market Opportunity Assessment
- Nigeria Elevator and Escalator Market Share, By Players
- Nigeria Elevator and Escalator Market Overview, By Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Nigeria Elevator and Escalator MarketReport Covered:
The report provides a detailed analysis of the following market segments:
- By Types:
- Elevator:
- Passenger
- Cargo
- Home
- Escalator:
- Moving Stairs
- Moving Walkways
- Elevator:
- By Applications:
- Commercial
- Industrial
- Residential
- By Services:
- Maintenance
- Modernization
Other Key Reports Available:
