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SOURCE Research and Markets
DUBLIN, March 22, 2013 /PRNewswire/ --
Research and Markets announces the addition of Koncept Analytics' report "Global Escalator & Elevator Market Report: 2012 Edition" to its catalogue.
The global elevator and escalator (E&E) market comprises of three major segments namely new installations, maintenance and modernization. After witnessing slowdown in 2009, the E&E market has recorded strong growth during 2010-2011 driven by increase in the construction activities, urbanization and improving worldwide economy. In volumetric terms, the sales of elevators were much higher as compared to the sales of escalators as the usage of elevators is not restricted to only commercial segment and elevators are often used in residential construction as well.
As far as the E&E new installations are concerned, the growth is majorly driven by emerging markets such as China and India, where rapid construction activities are taking place. However, Europe, the largest market escalators and elevators, recorded marginal growth in terms of E&E new installations. Therefore, the growth of E&E market in the developed markets like Europe and the US has become increasingly dependent on E&E service market.
The E&E market can also be segmented in terms of high-rise, mid-rise, and low rise equipments, depending on the capacity. The low rise segment was the most popular segment in 2011 as the segment recorded higher sales both in terms of value and volume as compared to the other two segments.
Otis led the global E&E market in 2011 followed by KONE, Schindler, and Thyssenkrupp. The competitive landscape of global E&E market was highly consolidated as top 4 players accounted for more than half of the global E&E sales in 2011. The global E&E manufacturers are increasingly being conscious about improving their product offerings in terms of energy efficiency and maintenance cost in order to utilize the growth opportunity present in the market. However, the future growth of the market players will depend widely on their efficiency to answer challenges like the growing safety concerns and slowdown in the growth of E&E new installations in major developed markets.
The report analyzes the global market for escalators and elevators and also discusses some of the major regional markets. The report presents the key trends, growth drivers and the major issues and challenges being faced in the global E&E industry. It also profiles the four major global players, including Otis, Schindler, ThyssenKrupp, and KONE, along with their strategies for growth.
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