Indonesia Elevator and Escalator Market to Witness Significant Growth By 2025
Increasing funding by government on infrastructural
development projects is a major factor driving the growth of Indonesia elevator
& escalator market.
According to TechSci Research report, “Indonesia
Elevator & Escalator Market By Type (Elevator,
Escalator and Moving Walkways), By Service (Maintenance & Repair, New
Installation and Modernization), By Elevator Technology (Traction, Hydraulic
and Machine Room-Less Traction), By Elevator Door Type (Automatic and Manual),
By End User (Residential, Commercial, Institutional, Infrastructural and
Others), By Region, Forecast & Opportunities, 2015- 2025”, Indonesia
elevator & escalator market was valued USD 0.30 Billion in 2019 and is expected
to be valued USD 0.43 Billion by 2025. Major factors propelling the growth of Indonesia
elevator & escalator market are rapid urbanization, growing infrastructural
& construction activities and development of high-rise commercial buildings
such as office spaces and shopping malls in the country. Moreover, rise in funding
by government on infrastructural development projects and increased inflow of
FDI funding in construction sector are also acting as major growth driver for
elevator & escalator market in the country. Apart from that, Indonesia is
witnessing growing demand for cost-effective elevators & escalators due to
which manufacturers are coming up with advanced, low-cost products in the
market. With growth in real estate sector and construction of high-rise
residential complexes in order to accommodate the growing population of the
country, the Indonesia elevator & escalator market is anticipated to grow
significantly during the forecast period.
Furthermore, Indonesia is in a phase of economic recovery and is
currently undergoing development of new airports, railroads and construction of
major high-rise projects. All these factors are providing profitable growth
opportunities for elevator & escalator manufacturers in the country. In
addition to this, government plans such as shifting of capital from present
Jakarta to the heavily forested area of East Kalimantan is also likely to
support the growth of Indonesia elevator & escalator market in coming
years.
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Indonesia elevator & escalator market is segmented based on type,
service, elevator technology, elevator door, end user and region. Based on type,
the market is segmented into elevators, escalators and moving walkways. Among
them, elevators accounted for 88.95% market share in 2019 as they are highly
being installation at both commercial as well as residential complexes to
provide comfortable commute to the people. Moreover, the segment is further
expected to dominate the market and hold a market share of around 89% by 2025.
Based on end user, the Indonesia elevator & escalator market can be
split into residential, commercial, institutional, infrastructural and others.
Among them, the residential segment is expected to hold dominance during the
forecast period owing to several government projects such as introduction of One
Million Houses (OMH) programme per year.
Leading market players in Indonesia elevator & escalator market are 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. Key growth strategies being adopted
by escalator & elevator manufacturers are new product launches, mergers
& acquisitions, collaborations and partnerships in order to increase their
share in Indonesian market.
“Indonesia has more than 300 active large-scale construction projects at
present which are creating high demand for escalators and elevators in the
country. Moreover, decline in import taxes and free trade agreements with some
Southeast Asian countries are also providing lucrative opportunities for escalators
and elevators companies in Indonesia.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
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“Indonesia
Elevator & Escalator Market By Type (Elevator, Escalator and Moving
Walkways), By Service (Maintenance & Repair, New Installation and
Modernization), By Elevator Technology (Traction, Hydraulic and Machine
Room-Less Traction), By Elevator Door Type (Automatic and Manual), By End User
(Residential, Commercial, Institutional, Infrastructural and Others), By
Region, Forecast & Opportunities, 2015- 2025” has analyzed the potential of Indonesia
elevator & escalator market, and provides information and statistics on
market structure, size and trends. The report is designed to provide the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. The report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by Indonesia elevator
& escalator market.
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