Thriving Building and Construction Sector Drives the Elevator Market in India and the MENA Region
Albany, NY (PRWEB) February 05, 2015 -- Studying the elevator market in India and the MENA region, the 25-page report discusses the current performance of the market, with special emphasis laid on the numerous factors that present a negative or positive outlook. Growth drivers, restraints, and opportunities are highlighted and assessed in the report, together with the trends that rule the elevator market.
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The growth of the elevator market – be it in the MENA region, in India, or anywhere in the world – is largely dependent on the real estate and building and construction markets. The surge in construction activities, both commercial and residential, translates into the rising demand for elevator installations. Moreover, the performance of the real estate sector has a direct impact on the elevator market, thereby proving to be a vital part of the overall elevator and escalator industry.
The Middle East and North Africa market for elevators has so far experienced immense growth and is projected to perform even better in the years to come. By the year 2018, the report estimates that there will be approximately 7,000 elevator installations in the MENA region and this figure is set to rise with surging demand from the construction sector in Abu Dhabi, Jeddah, and Dubai. Presently, the sole growth factor in the North Africa market is the repair and maintenance of elevators rather than the sale of new models. Governments in the region hope to improve infrastructure in the region, which will give an impetus to the elevator market in Africa; however, it is not expected to make much progress in the region till then.
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India has witnessed remarkable growth in the elevator market thanks to a surge in the number of high-rise buildings, government efforts to develop better infrastructural facilities, and rapid urbanization. The introduction and creation of smart cities, metro rail, and massive multi-level airports is expected to boost the elevator market in India. The report indicates that the number of units will rise from 52,600 in 2013 to over 100,000 in 2018.
The competitive landscape of the India and the Middle East and North Africa elevator market is discussed in the research report, wherein prominent players are identified and profiled, and important aspects of each company are assessed. The report sheds light on areas such as company contribution towards the overall elevator market, revenue generation, investments, joint ventures, mergers and acquisitions in the elevator market, recent developments and innovations, government regulations and their impact, and demand, supply, and consumption factors. The five participants of the India and the Middle East and North Africa elevator market mentioned in the research report are KONE, Mitsubishi Electric Corp., Otis Elevator Company, Schindler Group, and ThyssenKrupp AG.
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The research report aims to deliver superior quality analysis with its collection of rich and in-depth information on the elevator market. With the help of secondary research and well-supported data, the study presents an impartial and clear picture of the market in India as well as the Middle East and North Africa region and offers sharp insights based on the dynamics of the market. Recent developments, market trends, and industrial opinions have been chronicled, which lends added weight to the study. The research hypothesis is validated with the help of calculated, double-checked, and up-to-date forecasts, resulting in a qualitative and quantitative study covering the India and MENA elevator market. The research report has been designed in a customized manner to perfectly suit the client’s requirements.
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