The report titled “Global Elevators and Escalators Market Outlook to 2016 – Rising Expansion in Asia Pacific Region” provides a comprehensive analysis of market size of elevators and escalators industry on the basis of revenue, market segmentation by global elevator and escalator industry. The elevators market is segmented into new equipment sales and installation and maintenance and modernization of existing system while the escalator industry is segmented into transit, commercial and moving walk escalators. The report entails the market size and segmentation of the developing countries such as China and India. The report also provides competitive landscape and profile of major players operating in the elevators and escalators industry. The future projections in the report provide an overview on the prospects and expected growth drivers in the global elevators and escalators industry.
The global elevators and escalators industry has witnessed growth in the last two years after the recession in 2009. In 2011, the industry grew by ~% to USD ~ million due to rise in ageing population and surge in the construction activity of shopping complexes and residential building especially in the developing markets of Asia such as China and India. The market has registered a compound annual growth rate of 3.2% during the period 2006-2011.
In 2011, the global elevator industry has experienced a CAGR of 5.3% from 2008-2011. The number of elevators has increased from ~ thousand in 2008 to ~ thousand in 2011. The incline in the elevators has been due to an increase in the ageing population across the globe.
In 2011, Europe and North & South America contributed around ~% and ~% respectively to the overall sales of the elevators in the world. The maintenance and modernization segment constituted around ~% of the total elevator industry revenues in 2011. Around ~% of the new elevators are installed in the residential apartments while ~ of the installations are in the office buildings.
The global escalators industry has grown at a CAGR of 8.2% from 2006-2011.The industry has experienced growth in the last five years from USD ~ million in 2006 to USD ~ million in 2011. The growth of the industry has been influenced by the increase in the construction of commercial, industrial and hospital buildings across the globe. Moving walks escalators also witnessed a growth in its share from ~% in 2008 to ~% in 2011.
Otis is the largest manufacturer of elevators and escalators in the world with a contribution of around ~% of the total market revenue in the year 2011. The company has introduced energy efficient NCE escalators which offer complete green features such as power standby function, LED lighting, highly efficient lubrication and regenerative drives. Schindler is second largest player with the market share of ~% and with the revenue of USD ~ million in 2011.
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Global Elevators and Escalators Market Outlook to 2016 – Rising Expansion in Asia Pacific Region
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