Albany, NY -- (SBWIRE) -- 07/26/2017 -- The global elevator and escalator market could be advantaged by the rising demand for smart offerings, according to a market research report put on sale by MarketResearchReports.biz, titled "Global Elevator & Escalator Market: Industry Analysis & Outlook (2017-2021)." Apart from the general market, the 119-page publication has comprehensively studied the smart elevators market on the basis of different determinants such as segmentation, end use, and value. The value factor has been utilized to draw a forecast of the performance of smart elevators.

According to the report, the growth in the world elevator and escalator market could witness a strong rise on the back of several factors such as codes and regulations, increasing global gross domestic product (GDP) value, elevator and escalator installed bases reaching their expiry age, surging geriatric population, and urbanization. However, the market could be challenged by safety issues, unavailability of skilled workers, and high cost of installation. Nonetheless, industry players could receive impressive business prospects while riding on significant developments and trends such as growing energy conservation, digitalization, and elevator density.

Three of the most popularly used types of elevators, i.e. hydraulic, counterweight, and pneumatic, are expected to set the tone for a valuable growth in the world elevator and escalator market. Besides this, the analysts have identified three key segments, viz. maintenance, modernization, and new equipment, to play a critical role in the advancement of elevator and escalator products. The maintenance market has been analyzed as per value and volume, where volume by region, volume forecast, and forecast by value have been focused upon. The new equipment market has been assessed according to volume by region and product and forecast by volume and value. The modernization market, on the other hand, has been researched as per forecast by value.

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For regional reports, the authors of the report have considered three significant geographies, i.e. the Americas, Europe, the Middle East, and Africa, and Asia Pacific. Each of these regions has been examined based on key countries, where elevator and escalator installed base forecast and volume, maintenance services by type, export volume forecast, new installations forecast, market by application and segment, and various other factors have been taken into account.

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Under the competitive landscape section, the analysts have provided the market cap comparison to help players take informed decisions in their elevator and escalator business. Furthermore, the report has provided shares of different companies in respect of maintenance and new installations. Moreover, the readers have been offered with the shares of all the three discussed regions by companies.

The competition in the international elevator and escalator market has been envisaged to be highly combative with quite a few large players, viz. ThyssenKrupp AG, KONE Oyj, and United Technologies Corp., looking to make a mark in the industry.

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