Indonesia Elevator & Escalator Market is expected to grow at a 4.8% CAGR.
Rising
development of high-rise commercial and residential buildings coupled with
increasing capital inflow into the real-estate sector are expected to propel
the Indonesia Elevator and Escalator Market during the forecast perio.
According
to TechSci Research report, “Indonesia
Elevator & Escalator Market – By
Region, Competition, Forecast and Opportunities, 2018-2028”, Nusantara,
Indonesia's new capital, spanning over a 6.6-hectare government zone, will
house 184 residential building towers, which is yet to begin in Q2 2023. These
residential buildings will accommodate ministries, the State Palace, the House
of Representatives, and housing for some 50,000 civil servants and 500,000
residents. The project relies on around 80% of private investment, with an
investment of USD 32 billion. The
government offers companies tax relief for 30 years and a 350% super-tax
deduction for expenditure on research and development if companies tend to
invest in the planned new capital city. Lido
City, located around 60 km from the present capital, will span over an area of
30 sq. km and be a tourism special economic zone. MNC is developing this
project with an investment of USD 2 billion will comprise the construction of a
movie production complex, a golf course, a hotel, a resort, and a music and
arts center.
Such
development will support the Indonesia elevator and escalator market growth.
This development was signed off in June 2021 to draw the attention of local and
international tourists and engage six-seven million visitors annually in the
next five years. The ultra-light
UltraRope technology offers unparalleled eco-efficiency, dependability, and
longevity in elevators while significantly enhancing their performance. It
addresses the problems of traditional steel ropes, including excessive energy
consumption, rope stretch, enormous moving masses, and building sway-related
downtime. UltraRope allows the elevator to travel at the height of about 1,000
meters. With the increasing number of high-rise commercial and residential
buildings, the need for UltraRope is also increasing. Thus, companies are
integrating this technology in their new launches.
Browse
over XX market data Figures spread through 86 Pages and an in-depth TOC on the "Saudi Arabia Telehealth Market."
Key
market players in the Indonesia Elevator & Escalator Market are: -
- KONE Corporation
- Hitachi Group
- Otis Elevator
Company (UTC)
- Mitsubishi
Electric Corporation
- Schindler
Holding Ltd.
- Fujitec Company
Limited
- thyssenkrupp AG
- Toshiba Elevator
and Building Systems Corporation
Download Free Sample Report
Customers can also request
for 10% free customization on this report.
“Indonesia
elevator & escalator market was valued USD 0.30 Billion in 2019 and is
expected to be valued USD 0.43 Billion, in term of valueby 2025. Key factors
propelling the growth of Indonesia elevator & escalator market are rapid
infrastructural development, increased inflow of FDI funding in construction
sector and construction of high-rise residential complexes in order to
accommodate the growing population of the country. Apart from that, decline in
import taxes and free trade agreements with other Southeast Asian countries are
also providing profitable opportunities for elevator & escalator
manufacturers operating in Indonesia. Additionally, Indonesia is currently has
more than 300 active large-scale construction projects which are creating high demand
for elevators and escalators. Along with that, growth in real estate sector and
development of new airports and railroads are some other major factors boosting
the growth of Indonesia elevator & escalator market.
Indonesia
elevator & escalator market can be segmented based on type, service,
elevator technology, elevator door, end user and region. Based on service, the
market can be categorized into maintenance & repair, new installation and
modernization. Among them, in 2019, modernization and maintenance & repair
segment together accounted for 63.11% market share in terms of value. The
segment is further expected to dominate the market through 2025 on account of
growing focus of government on restoration and renovation of old buildings in
the country. Based on end user, Indonesia elevator & escalator market is
split into residential, commercial, institutional, infrastructural and others.
Among them, the residential sector is expected to dominate the market during
the forecast period owing to rising development of high-rise residential
buildings in the country as well as favourable government policies such as
introduction of One Million Houses (OMH) programme per year. Major companies
operating in Indonesia elevator & escalator market include KONE
Corporation, Hitachi Group, Otis Elevator Company (UTC), Mitsubishi Electric
Corporation, Schindler Holding Ltd., Hyundai Elevator, thyssenkrupp AG and
Toshiba Elevator and Building. Systems Corporation, among others. Furthermore,
leading companies are investing on latest technology in order to introduce new
and advanced products in the country. They are also undergoing inorganic growth
strategies such as mergers & acquisitions, collaborations partnerships and
new product launches in order to strengthen their position in Indonesia
elevator & escalator market. ” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Indonesia
Elevator & Escalator Market Segmented By Type (Elevator, Escalator &
Moving Walkways), By Service (Maintenance & Repair, New Installation and
Modernization), By End User Industry (Residential, Commercial, Institutional,
Infrastructural & Others), By Elevator Technology (Traction, Hydraulic
& Machine room-Less traction), By Elevator Door Type (Automatic and
Manual), By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of Indonesia Elevator & Escalator Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Saudi Arabia Telehealth Market.
Contact Us-
TechSci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
M: +13322586602
Email: [email protected]
Website: www.techsciresearch.com