Press release
Elevators Market to Rise High with Increasing Number of Construction Activities in Developing Nations
Global Elevators Market: SnapshotRapid urbanization in emerging economies of Asia Pacific is surging the global elevators market to new heights. Top companies that operate globally are vying to obtain contracts for installation and long-term maintenance of newly built residential and commercial buildings in these nations. These companies are engaged in aggressive research and development to come up with technologically advanced systems and are aligning business strategies to serve a large geographical area.
Get Brochure For More Information@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=14837
Apart from this, environmental norms in place that mandate buildings to be equipped with energy-efficient elevators to curb emissions is fuelling the elevators market. On the downside, safety mandates that manufactures of elevators need to adhere to prevent accidents is impacting the growth of the market to some extent. Considering a number of favorable factors, the global elevators market is poised to clock a CAGR of 6.5% from 2017 to 2023.
Attributes of Efficiency and Reduced Waiting Time to Boost Installation of Smart Elevators
The global elevators market is segregated in terms of type, application, and geography. Depending upon type, the global elevators market is bifurcated into conventional elevators and smart elevators. Vis-à-vis revenue and volume, conventional elevators currently dominance in the overall market. However, smart elevators are anticipated to display a significant growth rate in the years ahead. Being IoT enabled, smart elevators display attributes of reduced waiting time, energy efficiency, and can communicate with service teams to enable passengers to summon the elevator via a mobile application. On account of these factors, swift adoption of smart elevators in place of traditional hydraulic elevators is expected to be witnessed in the future.
Based on application, the global elevators market is broadly classified into commercial, hotels, retail, residential, transportation, hospital, parking building, and others. Of them, residential is the most attractive segment holding the leading share in the elevators market. Expansion of the building and construction sector to serve the residential needs of a growing global population is boosting the residential application segment. The residential segment is predicted to be worth US$35.86 bn by 2023.
Commercial and hotel are other lucrative application segments of this market. Expansion of several business verticals that operate from large commercial buildings has been instrumental in the growth of commercial segment. Elevators designed for ultra-modern commercial buildings can travel at a high speed and are programmed to stop at select floors. With IoT enabled elevators increasing becoming a reality, commercial segment is anticipated to gain traction for faster movement of passengers. Hotel is a key application segment as elevators are invariably present in large hotel chains. Hospitals, transportation, and retail are emerging significant application segments with the growth of these service and business areas.
Thriving Construction Sector Makes Asia Pacific Prominent
Geographically, the elevators market is segregated into North America, Europe, Asia Pacific, and Rest of the World. North America is a key market due to steady construction of high rise buildings in large metropolitan areas. Nevertheless, due to early adoption of modern systems most old buildings are pre-installed with elevators which will account for low growth of North America elevators market.
Asia Pacific holds prominence in the global elevators market due to a thriving building and construction sector. Government funding as well as investments from private parties for infrastructural development are boosting the elevators market in emerging economies of the region.
Download ToC Of Research Report@ https://www.transparencymarketresearch.com/report-toc/14837
Key companies operating in the global elevators market include Otis, ThyssenKrupp AG, KONE Corporation, Schindler Holding Ltd., Fujitec Co. Ltd., Toshiba Corporation, Mitsubishi Electric Corporation, Kleemann Hellas SA, Hitachi Ltd., and Hyundai Elevator Co. Ltd.
About Us:-
We are leaders in analytics, research, and advisory services for Fortune 500 companies, scores of high potential startups, and financial institutions. Our success stories have proven why we are a preeminent provider of cutting-edge syndicated and customized research services. Leverage the best of our seasoned research analysts who hold a keen interest and enviable expertise of almost 4 million hours in global, regional, and local market intelligence.
Contact Us:-
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
Email: sales@transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Elevators Market to Rise High with Increasing Number of Construction Activities in Developing Nations here
News-ID: 1162025 • Views: …
More Releases from Transparency Market Reasearch
Demand For Printed Leather Market is expected to Rise at an Impressive CAGR of 6 …
The global Printed Leather market is estimated to attain a valuation of US$ 500 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 6% during the forecast period, 2021-2031.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of…
Cable Assembly Market is Booming at A Cagr Of 6.2% to Reach US$ 292.6 Bn by the …
The global Cable Assembly market is estimated to attain a valuation of US$ 292.6 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 6.2% during the forecast period, 2022-2031.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of…
Narrowband Internet-of-Things (IoT) Chipset Market is Poised to Flourish at A 23 …
The global Narrowband Internet-of-Things (IoT) Chipset market is estimated to attain a valuation of US$ 2.2 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 23.4% during the forecast period, 2021-2031.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading…
Carpet Yarn Market is Projected to Exhibit Growth at 5.14% CAGR by 2031- TMR Stu …
The global Carpet Yarn market is estimated to attain a valuation of US$ 26.8 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5.14% during the forecast period, 2021-2031.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of…
More Releases for Asia
South East Asia Business Jet Market And Top Key Players are Asia Corporate Jet, …
By 2022, the South East Asia Business Jet Markets estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. The Global Business Jet Market, currently at 21 million USD, contributes the highest share in the market and is poised to grow at the fastest rate in the future. The three broad categories of business jets are Small,…
RAMPF Korea – Producing in Asia for Asia
Joint Venture for the Asian markets – The international RAMPF Group has realigned the cooperation with its long-standing partner Orient Dosiertechnik from Korea with the founding of RAMPF Korea Co., Ltd. The new company based in Hwaseong City is developing and producing mixing and dispensing systems specifically for the Asian markets.
Within the framework of the new joint venture based in Hwaseong City, mixing and dispensing systems are being developed and…
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022.
23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property…
PEOPLEWAVE WINS ASIA TECH PODCAST PITCHDECK ASIA 2019 AWARDS
15 January 2019, Singapore – Peoplewave, Asia’s leading data-driven HR technology company, won the Asia Tech Podcast (ATP) Pitchdeck Asia 2019 Awards, being awarded “Startup Most Likely to Succeed in 2019".
The 2019 Pitchdeck Asia Awards is an opportunity for the Asian Startup Ecosystem to shine a spotlight on some of its best startups. The awards were decided by a public vote. More than 7,200 votes were cast by registered LinkedIn…
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia
Equipping Asia’s navies with the latest diving technology for asymmetric warfare and
operations
SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is
seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting…
Asia Diligence – Specialist Investigative Due Diligence for Asia & Beyond
Asia Diligence today announced the opening of its European Customer Services office in the United Kingdom. The office is to be managed by Steve Fowler and will focus on providing services to Asia Diligence’s European customers. Asia Diligence is also planning to open a US office in the near future, which will provide customer service to its US and North American clients.
Asked to comment on the move, Luke Palmer, the…
