GCC Elevator Market

The Gulf Corporation Council (GCC) elevator market is expected to be a direct beneficiary of the construction sector boom across the GCC region. The report highlights government efforts to diversify from being an oil-dependent economy and provides illustrations of government policies and budget allocated for construction and real estate projects across the GCC region. The report also includes an analysis of the technological trends prevalent in the GCC elevator market. A percentage of the total GCC building sector contract value (only new projects awarded to contractors in 2023 and 2024) has been proportioned for estimating the elevator market size which has been validated with primary research efforts.

Along with insights on the GCC elevator market potential, the report provides an overview of the economic landscape across GCC countries and assesses the impact macro-economic factors such as interest rates, inflation, and monetary policies can have on the overall market sentiment. The report also delves into the elevator value chain and provides an understanding of market characteristics leveraging PESTLE (Political, Economic, Social, Technology, Legal, and Environmental) analysis and Porter’s 5 forces.

The strategic development section of the report highlights companies involved in partnerships & collaborations, the launch of new facilities, and expansion strategies. The 92-page report concludes with the competitive landscape section which provides an overview of the companies covered and their product offerings. The total revenue of companies and its split by product/segment/geography has also been provided, where available. Moreover, the report has also disclosed the export-import trade value of various elevators and moving walkways.

Competitive Landscape (Companies Covered)

• TK Elevator
• KONE
• OTIS
• Schindler
• Hyundai Elevator Co Ltd
• Royal Fuji Star
• FUJITEC CO., LTD
• ALFA Elevator
• Gulf Elevators & Escalators Co. Ltd
• Skodtec Elevators LLC

Other Data included in the report:

• GCC Construction Building Sector Projects Value, 2023
• Companies that announced building projects in 2023
• Companies that awarded building projects to contractors in 2023
• Top building projects awarded to contractors in 2023
• Top building projects expected to be awarded to contractors in 2024
• Top contractors that bagged building projects in 2023
• Top MEP contractors that bagged building projects in 2023
• GCC Countries Elevator Export-Import Trade Value Data
  • Liquid Elevators
  • Elevators and Conveyors (Pneumatic)
  • Elevators and Conveyors (Bucket Type)
  • Elevators and Conveyors (Belt Type)
  • Elevators and Conveyors (Goods or Materials)
  • Escalators and Moving Walkways

Note: The trade values for all the GCC countries pertain to 2022 except:

1. Kingdom of Saudi Arabia wherein the data pertains to 2021.
2. Oman Elevators and Conveyors (Bucket Type) exports which pertain to 2021.
3. Kuwait Liquid Elevators exports which pertain to 2021.
4. Kuwait Elevators and Conveyors (Bucket Type) exports which pertain to 2020.
5. Bahrain Escalators and Moving Walkways exports which pertain to 2020.