The Brazilian Elevator and Escalator Market is Growing at a CAGR of 6% from 2022 to 2028 - Arizton

The demand for passenger elevators is attributable to the high dependence of people on them to commute between levels in high-rise buildings. Passenger elevators offer high efficiency, and they are usually noise-free and create minimal vibrations. Alike hydraulic elevators, passenger elevators can carry heavy loads. These elevators are designed to be installed in dwelling houses, administrative and residential buildings, hotels, banks, and offices.
According to the latest research report by Arizton, the Brazil elevator and escalator market will grow at a CAGR of 6%.

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INCREASING AGED POPULATION IN BRAZIL WILL BOOST THE ADOPTION OF RESIDENTIAL ELEVATORS IN BUILDINGS

The use of elevators in the residential sector has increased due to the country's growing elderly population and their need for accessibility. The lack of elevators in homes with elderly residents has an impact on their quality of life.
Reserva Alta Vista is a $50 million residential complex under construction in Jundia, So Paulo, and Nex One Alto da Boa Vista is a $30 million residential construction project on 0.27 hectares of land in Santo Amaro, So Paulo. Both projects are scheduled to be finished in 2023. This in turn, will create more demand for elevators and escalator in Brazil.

KEY HIGHLIGHTS
· According to EDGE buildings and forecast by the IFC, the overall green building penetration in Brazil is more than 20%. The focus of certification schemes is to specifically improve the residential sector followed by the commercial market.
· By 2025, the MCTI or EMBRAPII network will receive an investment of $12 million from government incentives, of which $3.5 million will be devoted to AI applications in the automotive and agro sectors. The adoption of cutting-edge technologies into diverse industries is the major goal and the sector will be supported by approximately 17 R&D facilities with complete technological expertise and infrastructure in fields including ML, big data, IoT, and big data.
· The EU-MECOUSUR agreement will eliminate high custom charges in export sectors (cars and parts, machinery, chemicals, and pharmaceuticals). This will provide services and setting up a business presence in Mecousur. Supporting small and medium-sized companies will provide opportunity for European elevator companies to expand their business in Brazil.
· International companies in the elevator and escalator account for 90% of market share in Brazil. The key players include Otis, Schindler, and TKE, Hitachi, Hyundai Elevator, and Fujitec.

MARKET SEGMENTATION
Type
• Hydraulic and Pneumatic
• Machine Room Traction
• Machine Room Less Traction
• Others
carriage Type
• Passenger
• Freight
Person
• 2-15
• 16-24
• 25-33
• 34 and Above
End-User
• Commercial
• Residential
• Industrial
• Others
Key Vendors
• OTIS
• Schindler
• TK Elevator
• Hitachi
• Hyundai Elevator
• Fujitec
Other Prominent Vendors
• Wittur
• GMV Elevator
• Vega Lifts
• Schmersal
• Draka Elevator
• Giovenzana

To know more: https://www.arizton.com/market-reports/brazil-elevator-and-escalator-market

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This release was published on openPR.