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Elevator and Escalator Market in the GCC 2018-2022

Elevator and Escalator Market in the GCC 2018-2022

About this market

Elevators that go sideways as well as up and down are expected to drive growth in the market. The design of an elevator is a major consideration during its construction, as cable systems take more space in tall buildings. However, elevators that can move sideways can help improve efficiency and facilitate the construction of taller buildings. These rope-less elevators can move side-to-side as well as up and down. Technavio’ s analysts have predicted that the elevator and escalator market in the GCC will register a CAGR of more than 4% by 2022.

Market Overview

Increasing government spending on construction sector

Governments started undertaking various initiatives to stimulate the construction sector and encourage the private sector to play a key role in the process. Governments in the region started focusing on diversification to the non-oil sectors such as tourism, aviation, shipping, logistics, and infrastructure.

Volatility in raw material prices

Raw materials required for elevators and escalators include steel stock, wire rope, and stainless steel. These materials are used to manufacture different components of elevators and escalators. However, the cost of these materials has been fluctuating due to gap in the demand and supply.

For the detailed list of factors that will drive and challenge the growth of the elevator and escalator market in the GCC during the 2018-2022, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Mitsubishi Electric, and Schindler the competitive environment is quite intense. Factors such as the increasing government spending on construction sector and the elevators that go sideways as well as up and down, will provide considerable growth opportunities to elevator and escalator manufactures. FUJITEC, Hitachi, HYUNDAI ELEVATOR, KONE, Mitsubishi Electric, and Schindler are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Elevator and Escalator Market in the GCC 2018-2022

Technavio recognizes the following companies as the key players in the elevator and escalator market in the GCC: FUJITEC, Hitachi, HYUNDAI ELEVATOR, KONE, Mitsubishi Electric, and Schindler.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the elevators that go sideways as well as up and down.”

According to the report, one of the major drivers for this market is the increasing government spending on construction sector.

Further, the report states that one of the major factors hindering the growth of this market is the volatility in raw material prices.

Companies Mentioned

FUJITEC
Hitachi
HYUNDAI ELEVATOR
KONE
Mitsubishi Electric
and Schindler

  • Executive summary
  • Scope of the report
  • Research methodology
  • Market landscape
    • Market ecosystem
      • Table Parent market
      • Table Global Elevator and Escalator market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2017
      • Table Market size 2017
      • Table Validation techniques employed for market sizing 2017
    • Market size and forecast 2017-2022
      • Table Market size and forecast 2017-2022 (units)
      • Table Year-over-year growth 2018-2022 (%)
  • Five forces analysis
    • Table Five forces analysis 2017
    • Table Five forces analysis 2022
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2017
  • Market segmentation by product
    • Segmentation by product
      • Table Product – Market share 2017-2022 (%)
    • Comparison by product
      • Table Comparison by product
    • Elevator – Market size and forecast 2017-2022
      • Table Elevator – Market size and forecast 2017-2022 (units)
      • Table Elevator – Year-over-year growth 2018-2022 (%)
      • Table Population growth in GCC 2010-2017 (units in millions)
    • Escalator – Market size and forecast 2017-2022
      • Table Escalator – Market size and forecast 2017-2022 (units)
      • Table Escalator – Year-over-year growth 2018-2022 (%)
      • Table Passengers carried through airports 2013-2017 (unit millions)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Market segmentation by end-user
    • Segmentation by end-user
  • Regional landscape
    • Geographical segmentation
      • Table Market share by geography 2017-2022 (%)
    • Country comparison
      • Table Country comparison
    • Saudi Arabia – Market size and forecast 2017- 2022
      • Table Saudi Arabia– Market size and forecast 2017-2022 (units)
      • Table Saudi Arabia – Year-over-year growth 2018-2022 (%)
      • Table Construction projects in Saudi Arabia
    • Qatar – Market size and forecast 2017-2022
      • Table Qatar– Market size and forecast 2017-2022 (units)
      • Table Qatar – Year-over-year-growth 2018-2022 (%)
    • UAE – Market size and forecast 2017-2022
      • Table UAE – Market size and forecast 2017-2022 (units)
      • Table UAE – Year-over-year growth 2018-2022 (%)
      • Table Ongoing and upcoming construction projects in UAE
    • Oman – Market size and forecast 2017-2022
      • Table Oman – Market size and forecast 2017-2022 (units)
      • Table Oman – Year-over-year growth 2018-2022 (%)
      • Table Projects announced in Oman (2017)
    • Kuwait – Market size and forecast 2017-2022
      • Table Kuwait – Market size and forecast 2017-2022 (units)
      • Table Kuwait – Year-over-year growth 2018-2022 (%)
    • Bahrain – Market size and forecast 2017-2022
      • Table Bahrain – Market size and forecast 2017-2022 (units)
      • Table Bahrain – Year-over-year growth 2018-2022 (%)
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Major skyscraper projects in GCC
    • Market challenges
      • Table Fluctuation in steel prices 2014-2020 (US$/ton)
  • Market trends
    • Elevators that go sideways as well as up and down
    • Developments in elevator and escalator technology
    • Merging cognitive analytics with elevator and escalator technology
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive landscape
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • FUJITEC
      • Table Vendor overview
      • Table FUJITEC – Organizational developments
      • Table FUJITEC – Geographic focus
      • Table FUJITEC – Key offerings
    • Hitachi
      • Table Vendor overview
      • Table Hitachi – Business segments
      • Table Hitachi – Organizational developments
      • Table Hitachi – Geographic focus
      • Table Hitachi – Segment focus
      • Table Hitachi – Key offerings
    • HYUNDAI ELEVATOR
      • Table Vendor overview
      • Table HYUNDAI ELEVATOR – Organizational developments
      • Table HYUNDAI ELEVATOR – Geographic focus
      • Table HYUNDAI ELEVATOR – Key offerings
    • KONE
      • Table Vendor overview
      • Table KONE – Business segments
      • Table KONE CORPORATION– Organizational developments
      • Table KONE CORPORATION– Geographic focus
      • Table KONE – Segment focus
      • Table KONE CORPORATION– Key offerings
    • Mitsubishi Electric
      • Table Vendor overview
      • Table Mitsubishi Electric – Business segments
      • Table Mitsubishi Electric – Organizational developments
      • Table Mitsubishi Electric – Geographic focus
      • Table Mitsubishi Electric – Segment focus
      • Table Mitsubishi Electric – Key offerings
    • Schindler
      • Table Vendor overview
      • Table Schindler– Business segments
      • Table Schindler– Organizational developments
      • Table Schindler– Geographic focus
      • Table Schindler – Key offerings
  • Appendix
    • List of abbreviations
  • Explore Technavio

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