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"
https://www.techsciresearch.com/report/australia-escalators-and-elevators-market/4078.html
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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