Australia Elevator And Escalator Market | Share, Size, Analysis, Trends, Revenue, Growth, Value, Outlook, Segmentation & COVID-19 IMPACT: Market Forecast By Product Types, By Service Type, By Regions, and Competitive Landscape

In the year 2021, China was the largest exporter in terms of value, followed by Italy. It has registered a growth of 29.53% over the previous year. While Italy registered a growth of 5.56% as compared to the previous year. In the year 2017, China was the largest exporter followed by Italy. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Australia has a Herfindahl index of 3514 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  3889 which signifies high concentration in the market.

Australia Elevator and Escalator Market Synopsis

The Australia Elevator and Escalator Market during the COVID-19 pandemic in 2020 got negatively affected as there was a decline in forward bookings across all construction industry sectors caused by border closures, lockdowns and supply chain disruptions due to Australia’s higher dependency on importing building materials and equipment from overseas, particularly China. However, it was the combination of government infrastructure spending and scheme such as the homebuilder program under which a grant of $25,000 followed by $15,000 had been provided for building a home, which pushed the overall construction market to regain its momentum after the pandemic.

According to the publisher, The Australia Elevator and Escalator Market size is projected to grow at a CAGR of 6.0% during 2023-2029. The Australia Elevator and Escalator Industry is expected to show significant growth over the coming years on account of the growing construction, transportation and infrastructure sector. Also, commercial building demand is proving to be sustainable, along with the increasing expenditure on social and economic infrastructure. Moreover, the positive demand outlook along with traditionally higher yields for prime commercial properties in Sydney and Melbourne which is around 8%, is expected to attract more investors to invest in commercial buildings and properties hence furthering the growth in the number of new installation of elevators and escalators across tier one and tier two cities across Australia.

As per Australian Construction Industry Forum (ACIF), Infrastructure Construction has continued to grow steadily, by 3.8% in 2022-23, which is mainly due to infrastructure development programs pursued by the government and its plan as per budget 2022-23 to make an infrastructure investment of $4.4 billion in over four years period till 2025-26 to sustain a smooth construction activity in public transportation to support the transition to a more sustainable energy future in coming years, which in turn would propel the demand for new installations and modernization of already installed elevators and escalators in Australia.

Market by Product Types

Elevator acquired the largest revenue and volume share in 2022 owing to rising infrastructure projects and plans to further expand and develop cities under  Plan Melbourne, Sydney’s Six Cities Vision, International Airport in Western Sydney would further boost the demand for elevators in the long term. Elevators will continue to propel in the Elevator and Escalator Market in Australia.

Market by Service Type

Maintenance segment accounted for the largest share in the market and this segment will continue to retain its dominance in the future owing to the presence of large installed based. 

Market by Regions

Eastern region acquired the largest market share in Australia for elevator and escalator market in 2022 and same trends are expected in the future on account increasing investment in the commercial and logistics & industrial sector in the region.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Australia Elevator and Escalator Market Overview
• Australia Elevator and Escalator Market Outlook
• Australia Elevator and Escalator Market Forecast
• Historical Data and Forecast of Australia Elevator and Escalator Market Revenues and Volume, for the Period 2019-2029F
• Historical Data and Forecast of Australia Elevator and Escalator Market Revenues, By Product Types, for the Period 2019-2029F
• Historical Data and Forecast of Australia Elevator and Escalator Market Revenues, By Services, for the Period 2019-2029F
• Historical Data and Forecast of Australia Elevator and Escalator Market Revenues, By Regions, for the Period 2019-2029F
• Australia Elevator and Escalator Market Revenue Share, By Market Players
• COVID-19 Impact on Australia Elevator and Escalator Market
• Australia Elevator and Escalator Market Drivers and Restraints
• Australia Elevator and Escalator Market Trends
• Australia Elevator and Escalator Porters Five Forces
• Australia Elevator and Escalator Opportunity Assessment, By Product Types, 2029F
• Australia Elevator and Escalator Opportunity Assessment, By Services, 2029F
• Australia Elevator and Escalator Opportunity Assessment, By Regions, 2029F
• Market Player’s Revenue Shares
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product Types

• Elevator
• Escalator

By Service Type

• Maintenance
• Modernization

By Regions

• East Australia (Victoria, New South Wales, Queensland, Tasmania)
• West Australia
• South Australia
• North Australia