UK Elevators Market to Grow at CAGR 6.5% till 2022 : TechSci Research

According to a recently released TechSci Research report, “United Kingdom Elevators & Escalators Market By Type of Carriage, By Type of Machinery, By Type of Door, By End User, Competition Forecast & Opportunities, 2012 – 2022”, the UK elevators market is projected to grow at a CAGR 6.5% till 2022, backed by improving living standards, rising security concerns in commercial and residential complexes and growing demand for smart elevators with automated access control systems. During the forecast period, the country’s escalators market is forecast to grow at a CAGR of around 6%, in value terms, on account of rapid urbanization, shifting focus of retailers to biometric sensor enabled power saving escalators, accessibility issues with disabled and aged population, etc.

Browse 29 market data Tables and 39 Figures spread through 140 Pages and an in-depth TOC on
"United Kingdom Elevators & Escalators Market"
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On the basis of machinery, the UK elevators market has been segmented into traction and hydraulic equipped elevators. Traction equipped elevators are energy efficient, occupy less space in buildings and have the ability to operate at a variety of speeds. Consequently, volume share of traction machinery equipped elevators in the UK elevators market is projected to grow further during 2017 - 2022. In 2016, elevators with automatic doors dominated the UK elevators market and are anticipated to maintain their market dominance during forecast period as well. Under guidelines of the Lift and Escalator Industry Association (LEIA), elevators installed at commercial, residential, government and other institutions in the UK are required to have automatic doors in order to maintain the security of passengers travelling in elevators.
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“Growing residential, commercial and industrial sectors in the UK would require installation of new escalators and elevators, as well as maintenance and repair services in the future. Moreover, increasing government initiatives towards building smart cities in the country and surging competition, which is compelling companies to launch smart and green elevators and escalators are some of the other factors expected to boost the UK elevators & escalators market over the coming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United Kingdom Elevators & Escalators Market By Type of Carriage, By Type of Machinery, By Type of Door, By End User, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of the UK elevators & escalators market and provides statistical and informational data on market structure, size, share and future growth of the UK elevators & escalators market. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the UK elevators & escalators market.
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Increasing urbanization, booming construction industry and growing government initiatives for providing mobility and accessibility to the disabled and aged population to drive UK elevators & escalators market through 2022

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