Kuwait is the key revenue generating country in GCC elevator and escalator market. Increasing investments coupled with rise in construction activities have spurred Kuwait’s elevator and escalator market. Construction of skyscrapers, airport expansion and upcoming Kuwait metro is anticipated to drive future growth of the market.
According to 6Wresearch, Kuwait Elevator and Escalator market is projected to grow with a CAGR of 4.5% during 2015-21. In Kuwait Elevator and Escalator market, Elevator segment has prominently fueled the growth of the overall market; however, in the forecast period its share is expected to decline owing to growth of escalator segment.
In Kuwait, maintenance segment has generated majority of the market revenues in 2014 and is expected to maintain its market leadership through the forecast period. Amongst all applications, commercial application has captured major revenue share of the market, but over the next six years, residential application is anticipated to grow at a higher growth rate.
“Elevators and escalators are primarily imported by market players in the country. The players markets, sells and provides services in the country through their local distributors /partners,” said Shefali Goel, Research Associate, Research and Consulting, 6Wresearch.
In Kuwait’s elevator and escalator market, Kuwait city has generated majority of the market revenues owing to growing population, urbanization, surging infrastructure development activities and construction of skyscrapers, commercial buildings and malls.
“Kuwait Elevators and Escalators Market (2015–2021)” provides in-depth analysis with 101 figures and 21 tables covered in 148 pages. The report estimates and forecast overall Kuwait elevator and escalator market by revenue, by elevator types such as Geared and Gear Less with Machine Room Elevators, Hydraulic Elevators, and Machine Room Less elevators, by escalator types such as Moving Stairs escalators and Moving Walkways escalators, by services such as new installation, modernization and maintenance, by application such as residential, commercial and industrial and elevators and escalators market by regions such as Kuwait city, and rest of Kuwait. The report also gives the insights on competitive landscape, market share by companies, price trends, company profiles, market drivers and restraints.