Demand for Jordan's elevators and escalators market to increase by 2.1% annually in 2019-25

According to the latest market research report by 6Wresearch, the global elevator and escalator market size is expected to grow at a compound annual growth rate of 3.0% during 2019-25. Currently, the Asia-Pacific region is the region with the highest revenue share in the global elevator and escalator market. Countries such as China and India are major contributors to the Asia-Pacific region. In addition, the African region will be a potentially lucrative market for elevators and escalators, mainly due to the region's rapidly growing construction industry.

During 2019-25, due to Jordan's new cabinet reform and new policies, business and industrial sectors continue to increase investment. The Jordan elevator and escalator market is expected to grow moderately during the forecast period. In addition, according to Jordan's "Economic Development Plan (2012-22)", "Economic Development Plan (2012-22)" and "Industrial Strategic Plan", as Jordan further strengthens the national social infrastructure, the development of SMEs will be in the forecast period This stimulates demand for new elevators and escalators in these areas.

According to data from 6Wresearch, the market size of Jordan's elevators and escalators is expected to grow at a compound annual growth rate of 2.1% between 2019 and 2025.

According to the government's development plan, while industrial cities such as Madaba, Jerash, Tafira and Zaka are developing, local governments will strengthen the construction of commercial areas; in addition, the improvement of Jordan's tourism infrastructure industry and the reform of the national structure will Driving demand for Jordan's elevators and escalators in the coming years.

Media Courtesy : Finance Sina