Latin America Elevator and Escalator Market (2017-2023)-6Wresearch

6wresearch

Brazil Key Contributing Market for Elevator and Escalator in Latin America Region- 6Wresearch

Over the past few years, Latin America elevator and escalator market registered a sluggish growth in terms of number of new installations across various countries. Although, the Brazilian market contributes significantly in the overall market but was affected due to growing economic and political crisis, depreciating currency and recession. Additionally, with the change in U.S. trade policies, growth of Mexico and Argentina is likely to be affected during the forecast period. However, during the first quarter of 2017, the economy registered a positive growth for the first time in the last two years, derived from Brazil, Mexico and Argentina.

According to 6Wresearch, Latin America Elevator and Escalator Market is expected to grow at a CAGR of 6.5% during 2017-23. Increasing government spending, infrastructural development and rising FDI in retail and construction sectors are few factors that would drive the demand for elevator and escalator systems in Latin American region. Also, declining import taxes in Brazil and Argentina would result in price reduction of various elevator and escalator system components leading to an increase in demand over the coming years.

According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, “Low rise elevators which are majorly installed in residential, retail and transportation verticals accounted for major share in the overall elevators market. Latin America is witnessing significant infrastructural development activities in the residential sector. Also, increasing construction activities in commercial vertical would further stimulate the growth of the market in the coming years”.

“Moreover, increasing number of foreign tourists has driven the construction of new hotels across the region, especially in Brazil and Mexico, resulting in augmented deployment of elevators in the country. On the contrary in 2016, as a result of political unrest in Venezuela and slowdown in foreign investments in Argentina, government spending declined pertaining to infrastructural development and several construction projects,” Samuel further added.

According to Shefali Goel, Senior Research Analyst, Research and Consulting, 6Wresearch, “Amongst all services, the maintenance service segment contributes a major share in the market revenues owing to growing installed base of elevators and escalators in the region. During the forecast period, maintenance service segment market share is expected to upsurge on the back of rising number of aging elevators in the region”

“Further, Brazil accounted for largest revenue share in Latin America elevator and escalator market, attributed to ongoing key construction projects in the commercial and retail verticals,” Shefali concluded.

Major companies in Latin America elevator and escalator market include- Hitachi Ltd., Kone Corporation, Mitsubishi Electric, Otis Elevator, Schindler and ThyssenKrupp.

“Latin America Elevator and Escalator Market (2017-2023)” provides in-depth analysis with 106 figures and 12 tables covered in more than 153 pages. The report estimates and forecast the overall Latin America elevator and escalator market by revenue, by types, by countries and by services. The report also offers insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.

Latin America Elevator and Escalator Market (2017-2023) report graph

 

Source Link: http://www.6wresearch.com/market-reports/latin-america-elevator-and-escalator-market-2017-2023-forecast-by-segments-low-mid-high-rise-brazil-mexico-argentina-competitive-landscape-industry-analysis.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