Monday, January 16, 2017

Escalators Market size is expected to reach USD $5,146 million by 2022, growing at a CAGR of 5.3% from 2016 to 2022.



Global Escalators Market Report, forecasts that the escalators market size to reach $5,146 million by 2022, growing at a CAGR of 5.3% from 2016 to 2022. Parallel escalators segment generated the largest market share in 2015 while the others segment is expected to register highest growth rate during the forecast period. Asia-Pacific is expected to be the largest market during the forecast period.
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Development in real estate sector, rise in need for efficient and rapid transit system, and rapid urbanization are expected to drive the growth of global escalator market. In addition, emergence of green escalators and technological advancements has increased significantly and are expected to provide lucrative opportunity for market growth. However, lack of skilled workforce, safety issues due to poorly maintained equipment, and stringent government regulations limit the growth of this market.
In 2015, parallel escalators accounted for the maximum revenue shares in the overall escalators market due to their affordability, and easy availability. In addition, other escalator such as crisscross and spiral escalators is expected to witness the fastest growth at CAGR of 5.8% during the forecast period.
The commercial sector dominated the global market in 2015 due to high durability and ability to handle high passenger inflow. Furthermore, other industry segment is anticipated to grow at a CAGR of 6.2% during the forecast period due to ease in commuting over short distances and use of advanced safety features.
Asia-Pacific is estimated to grow fastest due to increase in the adoption of escalators and extensive growth in China, Japan, Australia, and India.
Key Findings of the Escalators Market:
Crisscross and spiral type is expected to exhibit a significant growth in the escalators market.
Commercial sector generated the highest revenue among other industry verticals pertaining to increase in adoption of escalators.
Asia-Pacific is projected to exhibit a substantial growth during the forecast period.
The key players include Schindler Group, Kone Corporation, ThyssenKrupp AG, Dover, Hyundai, Fujitec, Mitsubishi Electric, SIGMA, Otis, and Omega.
Factors such as rapid urbanization increase in concerns for safety, and changes in demography lead to the increase in adoption of escalators. An escalator is a conveyor transport device, in the form of moving staircase; used to carry people across different floors.
The growth of real estate sector has fueled the adoption rate of escalators in numerous industries. The escalators market is driven by factors such as need for efficient and rapid transit systems and rapid urbanization.
The market is segmented based on type, industry vertical, and geography. Based on type, the market is segmented into parallel, multi-parallel, walkway, and others. Based on industry vertical, the market is segmented into commercial, public transit, and others. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa) along with the country-wise analysis.
The report includes the profiles of prominent market players, such as Schindler Group, Kone Corporation, ThyssenKrupp AG, Dover, Hyundai, Fujitec, Mitsubishi Electric, SIGMA, Otis, and Omega along with information regarding business overview, financials, product portfolios, investments, and recent strategies & developments.
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