UAE elevator and escalator market are anticipated to record substantial growth on the back of increasing non-oil sector contribution in the GDP, improving economic conditions of the country, implementation of strict localization targets and value added tax (VAT). Additionally, upcoming mega events such as Expo 2020 and several government-backed initiatives have proved to be the key drivers for the widespread construction activities across several sub-segments of the UAE economy. All these factors would lead to an increase in demand for elevator & escalator in the commercial domain over the coming years.
According to the publisher, UAE Elevator and Escalator Market is projected to grow at a CAGR of 1.5% during 2019-25. Continued investment ahead of the mega event - Expo 2020, expansion of Al Maktoum International airport, an extension of red and green lines of Dubai metro, Abu Dhabi metro and several other commercial and residential projects, would drive the demand for elevators & escalators in UAE in near future.
Further, the elevator segment captured the majority of the market share in the overall elevators & escalators market in UAE, wherein the majority of the installations were witnessed in residential, retail, transportation and hospitality sectors. Amongst all the elevators segments, passenger elevators acquired the highest revenue share of the market.
The Northern region of UAE, which includes emirates such as Dubai and Sharjah, captured the highest UAE elevator & escalator market share in 2018. However, the Southern region including Abu Dhabi is expected to witness significant growth over the coming years as the government has launched Economic Vision 2030 for diversification of the economy and to attract foreign investment in the non-oil sectors of the region, such as manufacturing, transportation and tourism. However, during the forecast period, the new installation market for elevator & escalator in UAE is expected to witness sluggish growth on account of completion of the majority of the construction projects in the country by 2020.
The report thoroughly covers the market by elevator types, escalator types, services types and applications. The report provides an unbiased and detailed analysis of the on-going UAE 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
- UAE Elevator and Escalator Market Share, By Countries
- UAE Elevator and Escalator Market Size and Historical Data of UAE Elevator and Escalator Market Revenues & Volume for the Period 2015-2018
- UAE Elevator and Escalator Market Forecast of Revenues & Volume until 2025
- Historical data & Forecast of UAE Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of UAE Elevator Market Revenues & Volume for the Period 2015-2025F
- Historical data & Forecast of UAE Escalator Market Revenues & Volume for the Period 2015-2025F
- Historical data & Forecast of UAE Elevator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of UAE Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of UAE Elevator and Escalator Regional Market Revenues for the Period 2015-2025F
- Market Drivers, Restraints and Trends
- Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Share, By Players
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets 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
Table of Contents
1. Executive Summary
Samples
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