Press Release

New South Wales to Generate High Demand for Elevators & Escalators through 2024

Increasing FDI investments in construction & retail sectors, rising urbanization coupled with growing Government spending on infrastructural activities to drive Australia escalators & elevators market through 2024

According to TechSci Research report, Australia Escalators & Elevators Market By Type, By Service, By Elevator Technology, By Type of Elevator Door, By End User, By Region, Competition, Forecast & Opportunities, 2024, Australia escalators & elevators market stood is projected to surpass $ 410 million by 2024, at a CAGR of  around 6%, on account of growing urbanization, increasing demand for well-structured buildings across the country and technological advancements such as cost-effective, rope free elevators, etc. Moreover, increasing number of high-rise buildings and rising population are further expected to drive the demand for escalators & elevators in Australia. Kone Elevators Pty. Limited, Schindler Lifts Australia Pty Limited, United Technologies Australia Holdings Ltd and ThyssenKrupp Industrial Solutions (Australia) Pty. Ltd are the major companies operating in Australia elevators and escalators market.

Browse 1 market data Tables and 23 Figures spread through 70 Pages and an in-depth TOC on "Australia Escalators & Elevators Market"

In terms of type, Australia elevators & escalators market is categorized into elevators, escalators and moving walkways, of which elevators type accounts for majority share in Australia elevators & escalators market. The category is expected to maintain its dominance during forecast period as well, on account of new construction activities and increasing number of high-rise buildings in the country. In by service segment, maintenance & repair segment garners the largest share in Australia elevators & escalators market, on account of growing installed base of elevators & escalators across the country and rising population. Among end users, residential segment is leading Australia escalators and elevators market and is poised to grow at an impressive rate through 2024 as well, owing to the rising demand for elevators in residential properties. Among regions, New South Wales and Victoria are the major demand generators of elevators & escalators, as majority of population & commercial establishments are based in these regions itself.

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“Australia escalators and elevators market is anticipated to witness growth during the forecast period on account of several ongoing and upcoming infrastructure projects in the country backed by government initiatives such as Smart City Mission, increasing spending on infrastructural activities coupled with rising disposable income. Moreover, increasing number of high-rise buildings and rising construction activities across the country are further anticipated to propel the demand for escalators and elevators in Australia.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Australia Escalators & Elevators Market By Type, By Service, By Elevator Technology, By Type of Elevator Door, By End User, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of Australia escalators & elevators 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 Australia escalators & elevators market.

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