UAE Elevator and Escalator Market (2016–2022)-6Wresearch


UAE is the second largest construction market in GCC region after Saudi Arabia. Construction market contributed nearly 11% to UAE’s GDP in 2015 and further estimated to acquire 12% by the end of 2016. Government spending on improvising public infrastructure is leading to the growth of construction industry in the country. Expansion in the areas of metro network and airport have led for the installation of elevators & escalators in UAE.

According to 6Wresearch, UAE elevator & escalator market is forecast to grow at a CAGR of 3.9% during 2016-22. UAE elevator & escalator market is highly consolidated with few players accounting for major volume share. Although, elevator & escalator market in UAE remained stagnant in last few years, but with falling oil prices, the market is expected to decline due to halt in various government projects. In 2015-16, several infrastructure projects are anticipated to be on hold owing to dismay of investments. Though, upcoming World Expo in 2020 is forecast to elevate major construction projects in the coming years.

According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, “In vertical market, commercial vertical comprising of govt. & transportation, banking & financial and commercial offices accounted for largest share in revenue terms followed by residential and industrial verticals, respectively”.

“Additionally, upcoming World Expo would result in influx of tourists from across the globe, thus driving the construction of new hotels, malls and expansion of metro network and airports. These infrastructures would deploy elevator & escalator, which would provide necessary boost to the overall market”, Samuel further added.

According to Akash Shukla, Research Associate, Research and Consulting, 6Wresearch, “growth of elevator & escalator market in UAE is driven by new installations followed by maintenance & modernization. Vast public infrastructure and commercial projects are expected to spur the demand for new elevators & escalators in the country”.

“Moreover, amongst all regions, Southern region consisting of Abu Dhabi would register growth over the next six years owing to upcoming several projects pertaining to residential and commercial.

UAE Elevator & Escalator Market (2016–2022)” provides in-depth analysis with over 81 figures and tables covered in 120+ pages. The report estimates and forecast overall UAE elevator & escalator market by revenue, elevator & escalator type, by services, and by vertical. The report also gives insights on price trends, market trends, competitive landscape, company profiles, market drivers and restraints.

UAE Elevator and Escalator Market (2016-2022) graph

Source: http://www.6wresearch.com/press-releases/UAE-United-Arab-Emirates-Elevator-and-Escalator-Market-2016-2022-size-forecasts-growth-opportunity-media-news.html

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

Advertisements

Author: 6wresearch- Market Intelligence Solutions

6Wresearch is the premier, one stop market intelligence and advisory center, known for its best in class business research and consulting activity. We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography. Our Research Process Outsourcing (RPO) division enables our client to reduce their cost by outsourcing their research needs and focusing on their core competency. Our Business Model The prime motto of 6Wresearch is to see the exponential growth of our clients by meeting all the research requirements. 6Wresearch is pioneer in implementing 6W (what, where, when, who, when and how) model across its research cycle. We believe that exhaustive research can only be accomplished if it covers all six dimensions of research: What to invest in: What product and services is to produce to target potential market? Where to invest: Which geography to enter? When to invest: When is the right time to enter to the market? Whom to target: Who is your target consumer and buyers? Why to invest: What growth and opportunity the target market is offering? How to invest: What is the right strategy to enter the target market? Our integrated survey based model enable us to deliver real insights from key industry players which enable our clients to acquaint themselves with key industry trends & developments and devise various strategies for growth. Our Core Beliefs/Values 6Wresearch values its client and believes in maintaining long term relationship with them by providing high quality research solutions. 6Wresearch maintains its core beliefs and values by complementing Commitment towards standards, ethics and integrity, Ensuring client satisfaction, Maintaining full transparency. To find details on our members and associates please go to our directory of members.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s