About elevators and escalators
Elevators and escalators are positioned in buildings for efficient movement of people and goods within a building's premises. They are installed in residential buildings and commercial buildings such as IT parks, hotels, restaurants, and retail outlets. They are also installed in public places to improve vehicle parking management.
Technavio's analysts forecast the elevator and escalator market in the UK to grow at a CAGR of 6.08% in terms of new installed units during 2014-2019.
Covered in this report
In this report, Technavio includes the present scenario and growth prospects of the elevator and escalator market in the UK for 2015-2019. To calculate the market size, we consider the number of new elevator and escalator units installed in the country during the forecast period. The report also presents the vendor landscape and a corresponding detailed analysis of the four key vendors in the market, and a brief description on the other prominent vendors. In addition, the report discusses the major drivers that influence the growth of the elevator and escalator market in the UK, outlines the challenges faced by the vendors and the market at large, and highlights the key trends in the market.
Key customer segments
Technavio Announces the Publication of its Research Report – Elevators and Escalators Market in the UK 2015-2019
Technavio recognizes the following companies as the key players in the Elevators and Escalators Market in the UK: Fujitec UK, KONE GB, Otis UK and Ireland, Schindler UK and ThyssenKrupp Elevator UK
Other Prominent Vendors in the market are: Mitsubishi Electric Europe, Stannah Lifts, Titan Elevators and UKLE
Commenting on the report, an analyst from Technavio’s team said: “With the government of UK focusing extensively on providing accessibility and mobility to the aged and disabled population of the country, the elevator and escalator market is witnessing emergence of incline elevators in the country. Incline elevators are traction elevators that run on a non-perpendicular angle unlike standard elevators. These elevators can be used in place of escalators or in-line with a staircase so as to provide step-free access to specific floors. They are also called incline platform lifts or hillside trams.”
According to the report, a boom in the construction of high-rise buildings in the UK has led to the growth of the elevators and escalator market in the country. A major chunk of the high-rise developments are confined to London and its neighboring areas. As of 2014, around 270 buildings (each of 20 stories or more) are scheduled for construction. Out of these projects, 70 are currently under construction and 200 are in the planning phase. As much as 80% of these high-rise developments are residential buildings. The land price in the UK is growing at annually. This has led to an increased pressure on construction companies and developers to use their sites optimally.
Further, the report states that mitigation of risks associated with accidents is one of the major challenges for OEMs in the elevator and escalator market in the UK.
Fujitec UK, KONE GB, Otis UK and Ireland, Schindler UK, ThyssenKrupp Elevator UK, Mitsubishi Electric Europe, Stannah Lifts, Titan Elevators, UKLE
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