Latest 2021 Developments:
Saudi Arabia Elevator And Escalator Market witnessed the development in the industry such as The Nippon Otis Elevator Company recently tested Otis integrated dispatch technology. The result shows that how this technology wirelessly enables service robots to interface seamlessly with its elevators and move vertically within buildings without human interaction. OTIS announced a new generation of digitally native elevators – created to give people freedom to connect and thrive in a taller, faster and smarter world.
Mergers and Acquisitions
- Kone acquired Detroite Elevator Company on June 01st, 2021.
- Advent International and Cinven acquired ThyssenKrupp’s Elevator Technology Business.
- TK Elevator acquired Accurate Elevator on June 18th, 2021.
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Previous Release:-
Saudi Arabia elevator and escalator market registered high installation during 2015-16 due to completion of ongoing construction projects in the country. However, in 2017 and 2018, the market saw a decline due to halt in government projects in the country, lack of funding owing to the growing fiscal deficit and decline in oil prices, that in turn, resulted in decrease in government revenues. Healthy 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 and increasing inflow of FDI in the construction and retail sectors.
According to 6Wresearch, Saudi Arabia Elevator And Escalator Market size is projected to grow at a CAGR of 4.2% during 2019-25. The elevator segment captured major share in the overall elevators & escalators market in Saudi Arabia, wherein majority of the installations were witnessed in residential, retail, transportation and hospitality sectors. Amongst all the elevators segments, passenger elevators acquired highest revenue share of the market.
The commercial application market is the leading revenue generating segment in the Saudi Arabia elevators and escalators market owing to increase in installation of elevators and escalators in the retail and transportation market, especially of moving walkways in the retail market. Additionally, major hotel chains are expanding their presence across the country and large-scale government infrastructure development projects, such as airport expansions and development of other social infrastructure, are also strengthening the construction sector in the region. These factors would translate into an increase in demand for elevators and escalators in the country in near future.
In Saudi Arabia, the Central region held majority of the Saudi Arabia elevators and escalators market share, in terms of volume owing to increasing infrastructure development activities, especially in the commercial and residential verticals. During the forecast period, the Western region is expected to register higher growth in the market. Further, the new installation segment is the key revenue generator in the overall Saudi Arabia elevators and escalators market as urbanization and infrastructure development continue to play an important role in the region.
The Saudi Arabia elevator and escalator market report thoroughly covers market by elevator types, escalator types, services types and applications. The Saudi Arabia elevator and escalator market outlook report provides an unbiased and detailed analysis of the on-going Saudi Arabia 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:
- Saudi Arabia Elevator and Escalator Market Overview
- Saudi Arabia Elevator and Escalator Market Outlook
- Saudi Arabia Elevator and Escalator Market Forecast
- Saudi Arabia Elevator and Escalator Market Share, By Countries
- Saudi Arabia Elevator and Escalator Market Size and Historical Data of Saudi Arabia Elevator and Escalator Market Revenues & Volume for the Period 2015-2018
- Saudi Arabia Elevator and Escalator Market Forecast of Revenues & Volume until 2025
- Historical data & Forecast of Saudi Arabia Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of Saudi Arabia Elevator Market Revenues & Volume for the Period 2015-2025F
- Historical data & Forecast of Saudi Arabia Escalator Market Revenues & Volume for the Period 2015-2025F
- Historical data & Forecast of Saudi Arabia Elevator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of Saudi Arabia Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of Saudi Arabia Elevator and Escalator Regional Market Revenues for the Period 2015-2025F
- Market Drivers, Restraints and Trends
- Saudi Arabia Elevator and Escalator Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Saudi Arabia Elevator and Escalator Market Opportunity Assessment
- Saudi Arabia Elevator and Escalator Market Share, By Players
- Saudi Arabia Elevator and Escalator Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Saudi Arabia 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
- By Applications:
- Commercial
- Industrial
- Residential
- By Services:
- Maintenance
- Modernization
- Elevator:
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