Albany, NY -- (SBWIRE) -- 04/16/2019 -- Global Smart Elevators and Escalators Market: Overview

Smart elevators and escalators are installed in mixed-used buildings, hotels, commercial buildings, IT parks, residential buildings, restaurants, and retail outlets among others. Aging population is likely to be the key factor driving the smart elevator and escalator market during the forecast period. In addition, increasing geriatric population in countries such as Japan and China is expected to fuel demand for smart elevators and escalators. Asia Pacific is expected to grow at a high rate which will affect the market positively during the forecast period 2017 – 2023.

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Factors such as the growth of the global urban population, aging population, changing demographics, and urbanization among others are likely to boost the growth of the market in the near future. Rapid urbanization in developing nations such as Middle East, India and China and migration of population from rural areas to urban areas is key factor fueling the demand for new installation of smart elevators and escalators market. One of the major factors driving the market is installation of smart elevators and escalators in mid-rise and high-rise buildings.

Global Smart Elevators and Escalators Market: Trends and Opportunities

There has been an increase in construction activities in developing countries of Asia Pacific and RoW. The booming construction sector in countries such as China, India, Philippines and Indonesia is generating potential growth opportunities for the smart elevators and escalators market. In addition, industrial infrastructure in nations such as Indonesia, India and Brazil are witnessing major increase in demand for smart elevators and escalators in the last few years. This increase in demand is driven by large expenditure by public and private companies on airport development, housing, ports and rail transport. This, in turn, is likely to boost the growth of the smart elevators and escalators market during the forecast period.

Global Smart Elevators and Escalators Market: Competitive Landscape

Key players profiled in this report include Cisco Systems, Inc (U.S.), Toshiba Corporation (Japan), Otis Elevator Company (U.S.), Mitsubishi Electric Corporation (Japan), Schindler Holding Ltd.(Switzerland), Hitachi Ltd.(Japan), Fujitec Co., Ltd. (Japan), ThyssenKrupp AG (Germany), Kone Corporation (Finland), Kleemann Hellas SA (Greece) among others.

The segments covered in the Smart Elevator and Escalator market are as follows:

Global Smart Elevator and Escalator Market: By Type

Elevator

450 kg - 1,150 kg
1,150kg-1,500kg
1,500kg-2,000kg

Escalator

Moving Walkway Escalators
Moving Stairs

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Global Smart Elevator and Escalator Market: By Application Type

Commercial
Hotels
Retail
Residential
Transportation
Hospital
Parking Building

Global Smart Elevator and Escalator Market: By Geography

North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Rest of Europe
Asia Pacific
India
China
Japan
Rest of Asia Pacific
Rest of the World (RoW)
Middle East
Latin America
Africa

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