How OTIS Elevator Company and Schindler is dominating the GCC Elevator and Escalator Market

Schindler Elevator Corporation,

Schindler Holding AG manufactures and installs elevators, escalators, and moving walkways internationally. The Company's products are used in airports, subway stations, railroad terminals, shopping centers, cruise ships, hotels, and office buildings. Schindler also offers maintenance services. In January 2021, BESIX, Schindler and DMCC Partner have chosen to deploy Schindler R.I.S.E, the World's first robot able to perform installation work in an elevator shaft , in the Uptown project in Dubai.

Schindler's long-term strategy is focused on generating sustained value for all the company's stakeholders. The aim is to grow faster than the global elevator and escalator market and to build on a strong culture of innovation to continuously improve operating results.

The company focuses on geographical presence and its production and R&D capacity in growth markets, which China and India. In China, the number of branches and sales offices increased to over 200 in 2015. The company completed its new R&D center in India, which will provide an additional boost to the growth strategy.
The continued urbanization of population centers bodes well for the elevator industry as high-rise buildings are thrown up into the sky in increasing numbers.

The company is scaling back its involvement in ALSO Holdings, and in recent years reduced its stake to below 10%, with the intention of eventually exiting the business entirely.
Collaborations and contracts could enable the company to enhance its capabilities and secure operational benefits. In April 2020, the company received an agreement from Frankfurt Airport. Under this agreement, the company delivers and installs 164 elevators, escalators, and moving walks for the new Terminal 3 at Frankfurt Airport. This project will have to completed and delivered by 2023. In March 2020, the company received a contract from Melbourne Metro. Through this, it delivers 103 escalators and 73 elevators to the Metro Tunnel Project in Melbourne, Australia.
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OTIS Elevator Company

More than 2 million Otis elevators, escalators, and moving sidewalks are in service. The company makes elevators under brands including Gen2, HydroFit, and SkyRise that service buildings ranging from 26 to 980 feet. Its escalators and moving walks help move people in commercial and public spaces. Otis also offers installation, maintenance, and upgrade services. Otis serves more than 200 countries, and about 70% of its sales are generated outside the US. In late 2018, UTC announced it plans to spin off Otis as a separate company in 2020.
Otis is focused on winning new business from commercial and public contracts. Recent wins include projects for Resorts World Las Vegas, SNCF French rail, and Thailand's Bangkok Metropolitan Rapid Transit. The company is also targeting China's infrastructure market. Otis has secured contracts to build more than 2,500 elevators and escalators for metro, rail, and airport projects in 11 Chinese cities.

The company is also embracing the power of technology to improve its product and service offerings. In 2018 Otis launched its Otis One digital service platform that uses digital sensors to collect real time performance data which cloud-based algorithms analyze to predict and prevent equipment shutdowns. Otis One is part of the company's new Signature Service offering.
In late 2018 United Technologies (UTC) announced plans to spin off Otis Elevator, and its sister subsidiary Carrier, as independent companies. The move is part of UTC's plan to become a more focused aerospace and defense firm.

Key USP:
• Market Size in terms of Revenue (USD Million) from 2014 to 2026
• Historical & Descriptive Analysis from 2014 to 2020
• Forecasts & Predictive Analysis from 2021 to 2026
• Market Drivers, Restraints, Opportunities, & Market Trends
• Market Attractiveness Analysis
• Segment Analysis
• Competitive Landscape and Company Market Share Analysis
• Porter's Five Forces Analysis
• Value Chain Analysis
• PEST Analysis
• Regulatory Landscape
• Technology Landscape
• COVID-19 Impact Analysis

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