Albany, NY -- (SBWire) -- 11/16/2015 --This market research report segments the elevator and escalator market in BRIC countries by product (elevators and escalators) and by geography (Brazil, Russia, India, and China). Key leading vendors analyzed in this market study are Hitachi, KONE, Mitsubishi, Otis, Schindler, and ThyssenKrupp.
Elevators and escalators are installed in public places and mixed-used buildings like IT parks, hotels, restaurants, and retail outlets. The market for escalators and elevators in the BRIC countries is estimated to post a modest growth rate of more than 13% by 2019. The unparalleled growth witnessed in the construction market in BRIC countries is expected to account for this markets steady growth rate during the forecast period.
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Among all the BRIC countries, China is expected to dominate the market for elevators and escalators during the forecast period. In China, the elevators segment is envisaged to account for more than 88% of the total new unit installations, while the escalators segment is expected to account for a mere 11% of the total new unit installations.
In this market study, Technavios market research analyst has estimated the escalator segment to show a higher market growth rate than the elevator segment. Since most infrastructure projects employ more number of escalators than elevators, developments in the construction market will result in this segments rapid growth during the forecast period.
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The elevator and escalator market in BRIC countries is dominated by a few leading vendors like Hitachi, KONE, and Mitsubishi. Despite the dominance of the leading vendors, many small domestic vendors take part in country-specific construction activities and offer services like elevator and escalator installation, maintenance, and modernization services.
Technavios market research analysts estimate upcoming trends, such as the advent of smart elevators, to foster market growth during the forecast period. Smart elevators are rapidly gaining popularity as they have an integrated safety and control system and offer features like high operation speed and high-energy efficiency. The augmented implementation of these elevators in high-rise buildings and IT parks is expected to boost the prospects for growth in the elevator and escalator market in the BRIC countries.
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Key questions answered in the report include:-
What will the market size and the growth rate be in 2019?
What are the key factors driving the elevator and escalator market in the BRIC countries?
What are the key market trends impacting the growth of the elevator and escalator market in the BRIC countries?
What are the challenges to market growth?
Who are the key vendors in the elevator and escalator market in the BRIC countries?
What are the market opportunities and threats faced by the vendors in the elevator and escalator market in the BRIC countries
What are the key outcomes of the five forces analysis of the elevator and escalator market in the BRIC countries?
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Elevator and Escalator Market in the BRIC Countries Is Estimated to Post a Modest Growth Rate of More Than 13% by 2019: ResearchMoz
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