6wresearch logo

UAE elevator, escalator market to grow at 3.9pc

April 26, 2016

The UAE elevator and escalator market will grow at a compound annual growth rate (CAGR) of 3.9 per cent during 2016 to 2022, according to 6Wresearch, a leading market intelligence and advisory centre.

UAE is the second largest construction market in the GCC region after Saudi Arabia, and the construction market in the UAE contributed nearly 11 per cent to the country's gross domestic product (GDP) in 2015 and is further estimated to achieve 12 per cent by the end of 2016, said a statement.

Government spending on improvising public infrastructure is leading to the growth of construction industry in the country, and the expansion in the areas of metro network and airport have led for the installation of elevators and escalators in UAE, it said.

The UAE elevator and escalator market is highly consolidated with few players accounting for major volume share. Although, the market in UAE remained stagnant in last few years, but with falling oil prices, the market is expected to decline due to halt in various government projects, said a statement by 6Wresearch.

In 2015-16, several infrastructure projects are anticipated to be on hold owing to dismay of investments. Though, upcoming World Expo in 2020 is forecast to elevate major construction projects in the coming years, it added.

Prijo Samuel, senior research analyst, research and consulting, 6Wresearch, said: "In vertical market, commercial vertical comprising of government and transportation, banking, financial and commercial offices accounted for largest share in revenue terms followed by residential and industrial verticals, respectively."

"Additionally, the upcoming World Expo would result in influx of tourists from across the globe, thus driving the construction of new hotels, malls and expansion of metro network and airports. These infrastructures would deploy elevators and escalators, which would provide necessary boost to the overall market," he added.

Akash Shukla, research associate, research and consulting, 6Wresearch, said: "The growth of elevator and escalator market in UAE is driven by new installations followed by maintenance and modernisation."

"Vast public infrastructure and commercial projects are expected to spur the demand for new elevators and escalators in the country," he said.

"Moreover, amongst all regions, Southern region consisting of Abu Dhabi would register growth over the next six years. Further, several projects are under work-in progress and are funded by Abu Dhabi Investment Authority (ADIA), which is pushing the construction in the region," he added. - TradeArabia News service

Media Source: GDN Online

      Browse More Report

Middle East Power Tools Market (2018-2024)

Market Forecast By Types (Electric and Pneumatic), By Tool Types (Metal, Concrete, Wood Working and Others), By Verticals (Construction, Automotive, Manufacturing and Others), By Countries (Turkey, Iran, Saudi Arabia, UAE, Qatar, Oman, Bahrain and Kuwait)...

Read More

Sri Lanka Stationery Market (2018-2024)

Market Forecast By Type (Paper Stationery (Copier, Exercise Notebook, Premium Paper Stationery and Other Paper Stationery), Non-Paper Stationery (Pen, Pencil, Eraser, Scale, Sharpener, Art Stationery, Pencil Box, Eraser and Other Non-Paper Stationery...

Read More

Europe Blockchain Technology Market (2018-2024)

Market Forecast By Technology Types (Public Blockchain, Private and Permissioned Blockchain and Hybrid Blockchain), By Applications (Financial and Non-Financial), By End- Users (BFSI, Government and Public Sector, Transportation and Logistics, Healthcare...

Read More

Myanmar Stationery Market (2018-2024)

Market Forecast By Paper Stationery Types (Copier Paper (65-70 GSM, 70-80 GSM and Above 80 GSM), Exercise Notebook (Notebook, Drawing Notebook, Notepad and Others including Graph Notebook and Practical Notebook), Premium Paper Stationery...

Read More

Africa Solar Water Pump Market (2018-2024)

Market Forecast By Power Rating (Upto 3 HP, 3.1 to 10 HP and Above 10 HP), By Design Type (Surface and Submersible), By Drive Type (AC Motor and DC Motor), By Applications (Agriculture and Domestic), By Countries (Tanzania, Ethiopia, Kenya, South Africa, Tunisia, Egypt...

Read More

India Self Priming Pumps Market (2018-2024)

Market Forecast By Types (Electric and Diesel), By Head Range (Below 30 m, 30-50 m, 50.1-100 m and Above 100 m), By Horse Power (Below 1 HP, 1-3 HP, 3.1-5 HP, 5.1-7 HP, 7.1-10 HP and Above 10 HP), By Applications (Residential, Agriculture, Oil & Gas...

Read More

India Smart TV Market (2018-2024)

Market Forecast By Screen Type (Curved and Flat), By Screen Size (32 to 45 inches, 46 to 55 inches, 56 to 65 inches and Above 65 inches), By Resolution (4K UHD TV, Full HD TV and HD Ready), By Technology (LED, OLED and QLED), By Distribution Channels...

Read More

India Power Tools Market (2018-2024)

Market Forecast By Technology (Electric Power Tools (Corded Power Tools and Cordless Power Tools) and Pneumatic Power Tools)), By Tool Types (Metal Segment, Concrete Segment, Wood-working Segment and Others), By Verticals...

Read More

Bangladesh Stationery Market (2018-2024)

Market Forecast By Types (Paper Stationery (Copier, Exercise Notebook, Premium Paper Stationery and Other Paper Stationery) and Non-Paper Stationery (Pen, Pencil and Other Non-Paper Stationery (Art Stationery, Scale, Sharpener, Eraser, Pencil Box...

Read More

India Art Stationery Market (2018-2024)

Market Forecast By Types (Crayons (Wax Crayons and Plastic Crayons), Pencil Colors, Oil Colors, Sketch Pens, Oil Pastels, Poster Colors, Acrylic Colors and Other Art Stationery)), By End Users (Students and Professional & Hobby Artists), By Regions...

Read More

Middle East Transfer Switch Market (2018-2024)

Market Forecast By Types (Automatic Transfer Switch and Manual Transfer Switch), By Transition Mode (Open Transition Mode and Closed Transition Mode), By Ampere Rating (0-400A, 400-1600A and Above 1600A), By Applications (Industrial, Commercial and Residential)...

Read More


Our Key Clients
6wreserach client list


6Wresearch Events
6wreserach events