ReportsnReports.com adds report Elevator and Escalator Market in Saudi Arabia 2014-2018to its store.Escalator market in Saudi Arabia to grow at a CAGR of 6.08 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing construction of skyscrapers. The Elevator and Escalator market in Saudi Arabia has also been witnessing the emergence of green elevators and escalators. However, the increasing competition among vendors could pose a challenge to the growth of this market.
The Elevator and Escalator market in Saudi Arabia is witnessing the emergence of “green elevators and escalators” in the region. As a result of the growing demand for energy-efficient elevators and escalators in Saudi Arabia, vendors are spending more on their R&D activities to develop new-generation products. For instance, “Schindler 3300” elevators by Schindler claim to be 60 percent more energy-efficient than traditional hydraulic elevators. Mitsubishi's R&D activities are focused on manufacturing Mitsubishi elevators and escalators “Number One Green” in the industry. Otis claims its Gen2 machine-roomless elevators reduce energy consumption by 50 per cent of that of traditional units. Moreover, elevators are being incorporated with corridor illumination controls that help in reducing energy consumption in buildings. Furthermore, vendors are designing elevators that shut down their inside lighting until a passenger call arises. Vendors are also incorporating regenerative drives into elevators for increased energy saving. Thus, the Elevator and Escalator market in Saudi Arabia is expected to witness the demand for “green elevators” being increased during the forecast period.
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According to the report, the Elevator and Escalator market in Saudi Arabia is driven by many growth factors, one of which is the increasing construction of skyscrapers. This has driven the growth of the market in Saudi Arabia as the sale of elevators and escalators is highly correlated with the construction of high buildings. The rising demand for commercial and residential buildings is fueling the growth of the market.
Further, the report states that the high cost of elevators and escalators is one of the key challenges. The price of elevators and escalators has increased because of technological advancements. Moreover, although the newer models consumer less electricity, they are too costly.Elevator and Escalator Market in Saudi Arabia 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Saudi Arabia; it also covers the Elevator and Escalator market in Saudi Arabia market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors dominating this space include Fujitec Saudi Arabia Co. Ltd., Mitsubishi Electric Saudi Ltd., Otis Elevator Co. Saudi Arabia Ltd., and Schindler Olayan Elevator Co. Ltd.
Other vendors mentioned in the report are Gulf Elevators and Escalators Co. Ltd., Hyundai Elevator Co. Ltd., KONE Corp., SIGMA Elevator Co., and ThyssenKrupp AG.
Key questions answered in this report:
- What will the market size be in 2018 and what will be the growth rate?
- What are key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by key vendors?
- What are the strengths and weaknesses of each of these key vendors?
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