UAE Elevators Market to Grow at 8% till 2021
Growing
disposable income and booming construction market coupled with favorable government
initiatives to drive the demand for elevators and escalators by 2021
According to TechSci Research
report, “UAE
Elevators & Escalators Market, By
Type of Carriage, By Type of Machinery, By Type of Door, By End Use, Competition
Forecast & Opportunities, 2011 – 2021’’, the elevators market in the
UAE is projected to grow at a CAGR of 8% during 2016 – 2021. With increasing
urbanization, growing construction of high rise buildings, booming real estate
sector and surging investments by public as well as private entities for the improvement
of public infrastructure are expected to drive the demand for elevators and escalators in the UAE during
2016 – 2021.
Table: Airport Projects in UAE, As of 2016
|
Project
Name
|
Description
|
City
|
Status
|
|
Al Maktoum International Airport
Expansion Project
|
Carrying out expansion of an
international airport
|
Dubai
|
Current Project
|
|
Passenger Terminal Building
Expansion Project - Al Maktoum International Airport
|
Carrying out expansion of the
existing passenger terminals
|
Dubai
|
Current Project
|
|
Midfield Terminal Project - Abu
Dhabi International Airport Expansion
|
Construction of a 1.1-kilometer-long
terminal building
|
Abu Dhabi
|
Current Project
|
|
Source:
Ministry of Infrastructure and Development
|
Browse 10
market data Tables and 48 Figures spread through 120 Pages and an
in-depth TOC on "UAE
Elevators & Escalators Market"
https://www.techsciresearch.com/report/uae-elevators-escalators-market-by-type-of-carriage-passenger-freight-others-by-type-of-machinery-hydraulic-vs-traction-by-type-of-door-manual-vs-automatic-by-end-use-competition-forecast-opportunities/879.html
By 2015, passenger elevator segment dominated the UAE
elevators market, followed by freight elevators. Increasing number of high rise
buildings is driving the demand for passenger elevators across different end
user segment including residential, commercial, industrial and government
institutions. Major companies operating in the UAE elevators market include ETA Melco, Kone Middle East, Otis,
Schindler and ThyssenKrupp, among others. Northern
region dominated the UAE elevators market on account of increase in number of
infrastructure projects in the region and growing focus on real estate
construction.
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“In order to increase focus on infrastructure and urban
development, the Government of UAE has taken an initiative to expand the metro
lines, and the construction for the same is going on across the country. For
instance, Dubai Metro Green Line will be extended in which 11 new metro
stations will be added to the route. Moreover, Alstom, ACCIONA and Gulermak
signed a contract with Roads & Transport Authority (RTA) to design and build
the extension of Dubai’s Red Metro Line. This extension will be completed by
2020 and it will add 12 stations to the Red Line, which currently has 29
stations. All these developments in the country are expected to generate huge
demand for elevators and escalators in the country during forecast period.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“UAE
Elevators & Escalators Market, By Type of Carriage, By Type of Machinery,
By Type of Door, By End Use, Competition Forecast & Opportunities, 2011 –
2021”
has evaluated the future growth potential of UAE elevator and escalators market
and provides statistics and 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 evaluation. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in UAE elevators and escalators market.
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