Romania Elevator and Escalator Market (2020-2026) | Analysis, Size, Share, Revenue, Trends, Growth, Forecast, Value, Segmentation, Outlook & COVID-19 IMPACT

Romania Elevator And Escalator Market | Country-Wise Share and Competition Analysis

In the year 2021, Slovakia was the largest exporter in terms of value, followed by Italy. It has registered a growth of 3.37% over the previous year. While Italy registered a decline of -8.63% as compared to the previous year. In the year 2017, Slovakia was the largest exporter followed by Italy. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Romania has a Herfindahl index of 2124 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  1723 which signifies moderately concentrated in the market.

Romania Elevator And Escalator Market - Export Market Opportunities

Latest 2023 Developments of the Romania Elevator and Escalator Market

The Romania Elevator and Escalator Market is amongst the most crucial markets and this market is currently experiencing major developments. Owing to the rising popularity of high-rise buildings, there is an expansion in demand for efficient vertical transportation systems and the use of smart technologies like IoT (Internet of Things) and AI (Artificial Intelligence) is another big development going on in the market. These two technologies allow elevator and escalators to operate smoothly with data-driven analysis that reduces energy consumption and optimize performance. Manufacturers in the market implemented advanced sensors that detect potential hazards, ensure the safety of passengers and aids in fueling the Romania Elevator and Escalator Market Growth. 

Topics Covered in Romania Elevator And Escalator Market

The Romania Elevator And Escalator Market report thoroughly cover the market by types, services, and end-user. The market report provides an unbiased and detailed analysis of the ongoing 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.

Romania Elevator And Escalator Market is projected to grow over the coming years. Romania Elevator And Escalator Market report is a part of our periodical regional publication Asia Pacific Elevator And Escalator Market outlook report. 6W tracks the elevator and escalator market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Elevator And Escalator Market outlook report annually.

Romania Elevator and Escalator Market Synopsis

The Romania Elevator and Escalator Market is anticipated to register substantial growth in the upcoming years due to growing urbanization, rising construction activities and government initiatives.

According to 6Wresearch, Romania Elevator and Escalator Market size is projected to grow during 2020-2026. The sector has witnessed rapid growth and this market is ready to accomplish noteworthy growth attributed to a number of factors which are growing urbanization, rising construction activities, and government initiatives. The market will significantly grow in the future with installations of smart elevators and escalators becoming more and more popular with each passing day.  smart technologies like IoT (Internet of Things) and AI (Artificial Intelligence) help in stimulating the Romania Elevator and Escalator Market Share. Manufacturers in the market implemented advanced sensors that detect potential hazards, ensure the safety of passengers, and aid in fueling market growth at a rapid pace. Apart from the drivers, the sector is also facing some challenges which include high maintenance costs, and a lack of skilled workforce. 

COVID-19 Impact on Romania Elevator and Escalator Industry

The COVID-19 pandemic outbreak caused many disruptions to the industry. The restrictions imposed by the government to control the virus spread resulted in interruptions in project timelines, reduced demand for new installations, and financial losses for companies in the industry. During the pandemic, people preferred to stay at their home as well as companies allowed their employees to work from home due to the social distancing measures, and, as a result, the building owners postponed their modernization as well as they even cancelled them, which significantly affected the demand for this elevator and escalator. 

Key Players in Romania Elevator and Escalator Market

Some of the key players in the Elevator and Escalator Market in Romania are:

• Fujitec Co., Ltd.
• Schindler Group
• Thyssenkrupp AG
• OTIS Elevator Company
• KONE Corporation
• Mitsubishi Electric Corporation

Market by Types

According to Sachin, Senior Research Analyst, 6Wresearch, it is the escalator segment that will register the largest share within the market in the near future and a similar segment acquired the largest market share in the past few years.  

Market by Services

By services, the new installation is projected to accomplish the largest market share due to the rising demand for new installations. 

Market by End-User

On the basis of end-user, the industry is divided into residential, commercial as well as public and the commercial segment will attain the largest market share. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Romania Elevator and Escalator Market Outlook
• Market Size of Romania Elevator and Escalator Market, 2019
• Forecast of Romania Elevator and Escalator Market, 2026
• Historical Data and Forecast of Romania Elevator and Escalator Revenues & Volume for the Period 2016 - 2026
• Romania Elevator and Escalator Market Trend Evolution
• Romania Elevator and Escalator Market Drivers and Challenges
• Romania Elevator and Escalator Price Trends
• Romania Elevator and Escalator Porter's Five Forces
• Romania Elevator and Escalator Industry Life Cycle
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Types for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Elevator for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Escalator for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Moving Walkways for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Services for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Maintenance & Repair for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By New Installation for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Modernization for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By End-User for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Residential for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Commercial for the Period 2016 - 2026
• Historical Data and Forecast of Romania Elevator and Escalator Market Revenues & Volume By Public for the Period 2016 - 2026
• Romania Elevator and Escalator Import Export Trade Statistics
• Market Opportunity Assessment By Types
• Market Opportunity Assessment By Services
• Market Opportunity Assessment By End-User
• Romania Elevator and Escalator Top Companies Market Share
• Romania Elevator and Escalator Competitive Benchmarking By Technical and Operational Parameters
• Romania Elevator and Escalator Company Profiles
• Romania Elevator and Escalator Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Elevator
• Escalator
• Moving Walkways

By Services

• Maintenance & Repair
• New Installation
• Modernization

BY End-User

• Residential
• Commercial
• Public

Romania Elevator and Escalator Market: FAQs