Elevators Market: Rapid Urbanization APAC Escalating Demand,
Obtain Brochure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=14837
Global Shares Consolidated Among Five Leading Players
As far as the competitive landscape is concerned, the analysts of the TMR report have detected a consolidated scenario wherein the top five vendors accounted for 75% of the total shares in the global elevators market. The dominance of the five market leaders, namely ThyssenKrupp AG, KONE Corporation, Schindler Holding Ltd., Otis Elevator Company, and Fujitec Co. Ltd., is a reflection of their financial might and geographical presence, which they have expanded aggressively in the recent past. In addition to that, the market leaders are constantly improving their product portfolio, enhancing their offerings according to customer’s needs and establish themselves with worth of mouth. Going forward, these players are expected to continue having a foray into the APAC region, wherein the building and construction sector is prospering. Relatively less-established players, such as United Technologies, Hitachi Ltd., Mitsubishi Electric Corporation, Hyundai Elevator Co., Ltd., Toshiba Corporation, and Electra Ltd., are finding it hard to eat into the shares of aforementioned market leaders but the sheer volume of demand is also ensuring their profitability. Provided these players get aggressive for their regional expansion, their future prospects in the global elevators market are bright.
Based on elevator type, the report segments the elevators market into conventional elevators and smart elevators. Currently, the former segment of conventional elevators provides for more than three-fourth of the total demand across the globe, although the latter, smart elevators segment, is projected for a better growth rate, which would be a reflection of increasing adoption of wireless technology. The smart elevators segment is projected to expand at a CAGR of 7.9% during the forecast period of 2016 to 2023, in terms volume. Application-wise, the market has been bifurcated into residential commercial, retail, hotels, hospitals, transportation, and parking building. Geographically, the report highlights Asia Pacific as most lucrative region, providing for more than one-third, 34%, of the total demand in 2015.
Browse Market Research Report @ https://www.transparencymarketresearch.com/elevators-market.html
Prospering Building and Construction Industry Driving Demand
Apart from the rapid urbanization across various economies, the advancements in the construction industry on the back of development of smart cities and changing demographic trends are some of the other factors augmenting the demand in the global elevators market. The analysts have detected that advanced systems of escalators and elevators go a long way towards easing the vertical transportation requirements of passengers and goods. It not only reduces waiting time but also increases the efficiency of traffic management in high-traffic commercial and residential buildings.
On the other hand, uncertainty as well as risk pertaining to the global economy, high cost of installation, need for regular and expensive maintenance measures, and need to comply with standards and regulations are some of the restraints obstructing the global elevators market. Nevertheless, the vendors of this market stand to gain new opportunities on the back of adoption of green building codes and energy efficient products.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
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: Rapid Urbanization APAC Escalating Demand, here
News-ID: 973226 • Views: 369
More Releases from Transparency Market Research
Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals
More Releases for TMR
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158 Monolithic ceramics are
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
TMR - Electrical Submersible Pumps Market by 2022
A large number of prominent enterprises with strong brands currently represent the majority in the global electrical submersible pumps (ESPs) market. This provides the market with a highly competitive vendor landscape. According to Transparency Market Research (TMR), the top four companies operating in the market, comprising Schlumberger Limited, Borets Company, LLC, Baker Hughes Incorporated, and GE Oil & Gas, held over 86% of the global ESP market in 2013. In
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the