Transparency Market Research Added A New "Smart Elevators and Escalators Market Research Report" And Its Full Database.
Albany, NY -- (SBWIRE) -- 05/03/2017 -- 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 2015 – 2023. 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.
Fill the form to gain deeper insights on this market @
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.
Ageing population in countries such as Japan, U.S., Mexico and China among others is the key factor driving the smart elevator and escalator market during the forecast period. According to Population Reference Bureau (P.R.B.), in 2015, 40 million people in the U.S. are above the age of 60, but this number is expected to be double by 2050. In addition, Asia Pacific is expected to grow at a high rate during the forecast period of 2015 – 2023. Factors such as the growth of the global urban population and increasing number of population growth, aging population, changing demographics and urbanization among others are boosting the growth of the market in near future.
Based on type, the global market has been segmented into elevator and escalators. The smart escalators and elevators market is dominated by the elevators segment. The elevators market is further sub divided into elevator capacity types 450 - 1,150 kg, 1,150kg-1,500kg, 1,500kg-2,000kg and others. The escalators market is further classified into moving walkway escalators and moving stairs. Smart elevator is mainly driven by the increasing number of super tall and high rise building that demand energy efficient, secure and faster vertical transportation systems.
The global market by application is segmented into eight types: commercial, hotels, retail, residential, transportation, hospital, parking building and others. The smart escalators and elevators market is dominated by the transportation segment, followed by residential application. This increasing demand of smart escalators and elevators in the transportation segment is driven by large expenditure on airport development, ports and rail transport. The smart escalator and elevator market held a revenue of USD 96.63 billion in 2014 and expected to reach USD 162.56 billion, expanding at a CAGR of 6.3% during the forecast period.
Browse Market Research Report @
A comprehensive analysis of market dynamics that include the market drivers, restraints and opportunities is included under the purview of the study. Market dynamics are the distinct factors which exert an influence on the growth of a particular market and therefore help in studying the current trends of the global market. Thus, this report offers an inclusive study of the global smart elevators and escalators market, along with providing the forecast of the market for the period from 2015 to 2023.
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.
About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business Contact.