Elevator and Escalator Market in Russia 2015-2019
About elevators and escalators
Elevators and escalators are used to move people and goods easily and efficiently within a building's premises. Elevators and escalators are installed in commercial buildings, residential buildings, mixed-used buildings, IT parks, hotels, restaurants, and retail outlets. They are also installed in parking areas to help in optimum utilization of space.
Technavio's analysts forecast the elevator and escalator market in Russia to grow at a CAGR of 10.08% in terms of newly installed units over the period 2014-2019.
Covered in this report
This report covers the present scenario and growth prospects of the elevator and escalator market in Russia for the period 2015-2019. To calculate the market size, the report considers revenue generated from newly installed units of elevators and escalators in Russia. The report also considers the number of new elevators and escalators installed in Russia. In addition, the report also presents the vendor landscape and a corresponding detailed analysis of four key vendors, as well as a brief description about other prominent vendors operating in the market. Further, the report discusses the major drivers that influence the growth of the market, outlines the challenges faced by the vendors and market at large, as well as key trends emerging in the market.Key customer segments
Technavio Announces the Publication of its Research Report – Elevator and Escalator Market in Russia 2015-2019.
Technavio recognizes the following companies as the key players in the Elevator and Escalator Market in Russia: KONE Russia, Otis Russia, Schindler Russia, Thyssen Krupp Elevator.
Other Prominent Vendors in the market are: Siblift, Shenyang Brilliant Elevator.
Commenting on the report, an analyst from Technavio’s team said: “There is high demand for energy-efficient products in the elevator and escalator market in Russia, triggered by the commitment of the construction industry toward sustainable development. Vendors in the market are increasing their R&D activities to develop products with minimum energy requirements. Otis and KONE, for instance, are working to ensure that they meet the current energy-saving requirements with regard to both function and design.”
According to the report, Russia will be hosting international mega sports events such as the 2016 World Hockey Championship and the 2018 FIFA World Cup. These events have resulted in a surge of infrastructure development across the country: the government is expected to invest $21 billion on infrastructure to support these events. In this context, large-scale construction and reconstruction projects are on the rise in the country, including highways, subways, integrated sports complexes, sports stadiums, and airports.
Further, the report states that Stainless steel, hardened steel, cast iron, aluminum, brass, bronze, and other metal alloys are required for the manufacture of the different components of elevators and escalators. The cost of these materials is increasing because of the demand-supply gap, leading to a rise in manufacturing costs for elevators and escalators.
KONE Russia, Otis Russia, Schindler Russia, Thyssen Krupp Elevator, Siblift, Shenyang Brilliant Elevator
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook