openPR Logo
Press release

Latin America Elevator and Escalator Market (2017-2023)-6Wresearch

Latin America Elevator and Escalator Market (2017-2023)-6Wresearch

Latin America Elevator and Escalator Market (2017-2023)-6Wresearch

Brazil Key Contributing Market for Elevator and Escalator in Latin America Region- 6Wresearch

Over the past few years, Latin America elevator and escalator market registered a sluggish growth in terms of number of new installations across various countries. Although, the Brazilian market contributes significantly in the overall market but was affected due to growing economic and political crisis, depreciating currency and recession. Additionally, with the change in U.S. trade policies, growth of Mexico and Argentina is likely to be affected during the forecast period. However, during the first quarter of 2017, the economy registered a positive growth for the first time in the last two years, derived from Brazil, Mexico and Argentina.

According to 6Wresearch, Latin America Elevator and Escalator Market is expected to grow at a CAGR of 6.5% during 2017-23. Increasing government spending, infrastructural development and rising FDI in retail and construction sectors are few factors that would drive the demand for elevator and escalator systems in Latin American region. Also, declining import taxes in Brazil and Argentina would result in price reduction of various elevator and escalator system components leading to an increase in demand over the coming years.

According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, “Low rise elevators which are majorly installed in residential, retail and transportation verticals accounted for major share in the overall elevators market. Latin America is witnessing significant infrastructural development activities in the residential sector. Also, increasing construction activities in commercial vertical would further stimulate the growth of the market in the coming years”.

“Moreover, increasing number of foreign tourists has driven the construction of new hotels across the region, especially in Brazil and Mexico, resulting in augmented deployment of elevators in the country. On the contrary in 2016, as a result of political unrest in Venezuela and slowdown in foreign investments in Argentina, government spending declined pertaining to infrastructural development and several construction projects,” Samuel further added.

According to Shefali Goel, Senior Research Analyst, Research and Consulting, 6Wresearch, “Amongst all services, the maintenance service segment contributes a major share in the market revenues owing to growing installed base of elevators and escalators in the region. During the forecast period, maintenance service segment market share is expected to upsurge on the back of rising number of aging elevators in the region”

“Further, Brazil accounted for largest revenue share in Latin America elevator and escalator market, attributed to ongoing key construction projects in the commercial and retail verticals,” Shefali concluded.

Major companies in Latin America elevator and escalator market include- Hitachi Ltd., Kone Corporation, Mitsubishi Electric, Otis Elevator, Schindler and ThyssenKrupp.

“Latin America Elevator and Escalator Market (2017-2023)” provides in-depth analysis with 106 figures and 12 tables covered in more than 153 pages. The report estimates and forecast the overall Latin America elevator and escalator market by revenue, by types, by countries and by services. The report also offers insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.

Source Link: http://www.6wresearch.com/market-reports/latin-america-elevator-and-escalator-market-2017-2023-forecast-by-segments-low-mid-high-rise-brazil-mexico-argentina-competitive-landscape-industry-analysis.html

For Further details, please contact:
Email Us: sales@6wresearch.com
Call Now: +91-11-430-24-305

With over 1000 custom research projects, 6Wresearch is a global market research and consulting firm specializes in niche and emerging markets.The Company over the past few years has developed itself to be a renowned market intelligence company which led strong emphasis on competitive and strategic intelligence.

6Wresearch, through its integrated survey model, offers its client real time market and competitive intelligence and thus enable our clients to devise market entry strategies to target particular market and geography.

Delhi/NCR Office
809, 8th Floor, Pearls Best Heights - II
Netaji Subhash Place, Pitampura
New Delhi, India-110034
Phone: +911143024305

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 Latin America Elevator and Escalator Market (2017-2023)-6Wresearch here

News-ID: 647659 • Views:

More Releases from 6Wresearch- Market Intelligence Solutions

Market Penetration of Smart Ceiling Lights Globally
Market Penetration of Smart Ceiling Lights Globally
The global market for ceiling lights has been growing rapidly as consumers demand is high for seek stylish and efficient lighting for homes and commercial settings. Though new technologies in smart lighting are gaining traction, ceiling lights remain favored for their utility, design versatility, and energy-conscious features. According to 6Wresearch, the Global Ceiling Lights Market is projected to grow at a compound annual growth rate (CAGR) of 4.60% between 2025 and
Role of Electric Vehicles in Shaping Parking Infrastructure & Advancements in Automated Parking Solutions
Role of Electric Vehicles in Shaping Parking Infrastructure & Advancements in Au …
The car parking market worldwide is growing steadily. This is due to the rising urbanization, increased numbers of vehicles, and the need for efficient space allocation in cities. With expanding urban centers and mounting traffic congestion, demand for smart and systematic parking solutions is rapidly rising. Additionally, governments and private companies have invested in contemporary parking facilities. Moreover, technological advancements are being done to make parking systems more accessible and
Consumer Behavior and Preferences in Purchasing Car Insurance
Consumer Behavior and Preferences in Purchasing Car Insurance
The global car insurance market growth has boosted massively, driven by the rising vehicle ownerships and strict government regulations. Additionally, the rising driver's awareness regarding car insurance is another major factor boosting the growth of the market. While rise of digital solutions and new technologies, traditional car insurance remains essential in the auto and financial industries, which offer vital protection and financial security to drivers worldwide. According to 6Wresearch, the Global
Regional Analysis of Car Accessories Demand and Innovative Technologies in Car Accessories
Regional Analysis of Car Accessories Demand and Innovative Technologies in Car A …
The global car accessories market is experiencing consistent growth, driven by increasing vehicle ownership, rising interest in vehicle customization, and growing awareness around safety and comfort. Consumers around the world are investing more in both aesthetic and functional accessories for their vehicles-ranging from seat covers and infotainment systems to advanced safety tools and exterior enhancements. According to 6Wresearch, the Global Car Accessories Market is projected to grow at a compound annual

All 5 Releases


More Releases for Latin

Latin America Smart Packaging Market
The research report "Latin America Smart Packaging Market: By Technology Type ((Modified Atmosphere Packaging (MAP), Active Packaging, Intelligent Packaging (IP)), End User Type (Food & Beverages, Personal Care, Healthcare, Automotive), and Geography- Global/Region/Country Forecast to 2028. Latin America smart packaging market is anticipated to grow at a CAGR rate of x% during the forthcoming years 2022-2028. View the detailed report description here - https://precisionbusinessinsights.com/market-reports/latin-america-smart-packaging-market/ Changes in lifestyle patterns foster the
Latin America Energy Drinks Market
El nuevo estudio de Informes de Expertos titulado 'Mercado Latinoamericano de Bebidas Energizantes, Informe y Pronostico 2022-2027′, presenta una evaluacion exhaustiva del mercado, analizandolo segun el tipo de producto, canal de distribucion y las regiones importantes. La investigacion rastrea las tendencias mas recientes en el mercado y examina sus efectos sobre los principales factores de exito y restricciones. Ademas, evalua la dinamica del mercado y realiza analisis FODA y Cinco
Latin America Electroceuticals Market
Latin America registers the significant growth of the electroceutical market during the forecast period especially in the countries including Brazil, Mexico among others, attributing to various driving factors. The growing prevalence of ischemic heart disease, age-related and other hearing loss, and epilepsy is creating demand for electroceuticals, thereby, anticipated to drive the growth of electroceuticals market in Latin America. As per the Institute for Health Metrics and Evaluation, in
A Game Changer for Latin America? Shale Experts Analyse the Future of Unconventi …
Shale experts recently gathered in Buenos Aires to examine the potential impact of shale oil and gas resources in the Latin America region and globally. The CWC Summit was hosted in partnership with YPF and Y-TEC, and delegations in attendance included Chevron, Shell, Total, Schlumberger, Emerson and Halliburton, amongst others. The welcoming address was delivered by Gonzalo Lopez Nardone, head of institutional relations for YPF and the opening address was given
Successful launch for DISTREE Latin America
SAO PAULO, PARIS, LONDON, DUBAI, and MOSCOW – The inaugural DISTREE Latin America took place earlier this month at the Sofitel Jequitimar Hotel in Sao Paulo State, Brazil. More than 300 delegates attended DISTREE Latin America 2011, including representatives from approximately 50 vendors looking to launch, build or manage channels within the region. “It is always an exciting moment to launch a new DISTREE event in a dynamic market such
Latin America Oil & Gas Potential
Produced by The CWC Group, Latin American Oil and Gas Conference takes place on 25 – 27 October 2011, Mandarin Oriental Hotel, Miami, U.S.A. Organisers confirmed that the strategic conference will feature advanced insights from important organisations in the region alongside NOC’s showcases from Brazil, Mexico, Colombia, Trinidad & Tobago, Venezuela, Uruguay and Bolivia. Content centres on the development of the Latin America’s resources, the impact of shale