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Saudi Arabia Elevator & Escalator Market Expected to Register a High CAGR Through 2028

Increasing demand for modern machine room less elevators and augmenting new technological advancements is expected to drive the Saudi Arabia Elevator & Escalator Market.

According to TechSci Research report, “Saudi Arabia Elevator & Escalator Market - By Region, Competition, Forecast & Opportunities, 2018-2028”, the Saudi Arabia Elevator & Escalator market is expected to register a high CAGR during the forecast period. A digital revolution has been witnessed in practically every sector and industry. Elevators today use cutting-edge devices and cutting-edge technology, including artificial intelligence (AI) and the internet of things (IOT), to give users a rich and multi-sensory experience. These technologies improve user experience while assisting people in maintaining connections with the outside world. The Saudi Arabia Elevator Modernization Market stood at USD 9,042.05 million in the year 2021 and is expected to grow at a CAGR of 5.25% during the forecast period.

Based on elevator technology, Saudi Arabia Elevator & Escalator Market is dominated by the traction segment dominates the Elevator & Escalator Market. This is due to the rising demand for high-speed traction elevators as more commercial and residential buildings are constructed around the world. Moreover, top manufacturers are introducing fast, machine-room-free elevators that are increasingly used in low- and medium-story buildings to conserve space and cut construction costs. Thus, in the years to come, the Saudi Arabia Elevator & Escalator market is projected to expand as a result of these developments.

Based on end-user, residential is the dominant segment in Saudi Arabia Elevator & Escalator Market. Owing to increased urbanization and an increase in residential structures, there is a greater need for elevator installation and renovation. However, because elevators are made up of a large variety of intricate parts, they frequently need to be maintained and modernized in order to preserve their effectiveness and safety. Additionally, increased understanding of the value of elevator modernization has a favorable impact on the market's expansion.

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In terms of regional analysis, the Saudi Arabia Elevator & Escalator Market is segmented into Central & Northern Region, West Region, South Region, East Region. The Center & Northern Region is dominant as this region is expected to maintain its market dominance over the coming years owing to the presence of several rapidly developing nations and construction of various infrastructure related projects in the region.

Key market players in the Saudi Arabia Elevator & Escalator Market include:

  • Otis Elevator Company Saudi Arabia Limited
  • Schindler Olayan Elevators Co. Ltd
  • ThyssenKrupp Elevator Saudi Limited
  • Mitsubishi Electric Saudi Ltd.
  • Gulf Elevator & Escalator Company Ltd.
  • Khaled Juffali Elevator & Escalator Co.
  • KONE Saudi Arabia
  • Orona Elevator Co. KSA
  • Fujitec Saudi Arabia Co., Ltd.
  • Hyundai Elevator Saudi Arabia 


The residential and public transit categories are growing at the quickest rates due to increased urbanization and population growth, respectively.

Increased infrastructure spending and connection between cities and regions are other important points. As long as the places are serviced by public transportation and the routes are feasible, prospective purchasers don't appear to be concerned about investing in properties farther from the city centers.

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During the forecast period, it is projected that Saudi Arabia's affordable housing developments, which are funded by the government, international investors, and organizations such as the World Bank, will accelerate real estate market growth. The program will continue its efforts to expand the proportion of Saudi households who own homes to 70% by 2030 in the subsequent stage. Targeting the most disadvantaged facets of society will enable this provision of services to society's segments with a focus on the most disadvantaged groups. In an effort to support the stability and sustainability of the sector under various economic conditions, the program will also increase the industry's attractiveness for investment by the private sector.

“During the forecast period, the Saudi Arabia Elevator & Escalator Market is expected to grow. Owing to a growth in industry mergers and acquisitions and the installation of systems that can synchronize data utilizing various technologies by elevator modernization businesses, the market is robust and is anticipated to continue expanding, thereby driving market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Saudi Arabia Elevator & Escalator Market – Segmented by Type (Elevator, Escalator and Moving Walkways), By Service (Modernization, Maintenance & Repair and New Installation), By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural), By Elevator Door Type (Automatic and Manual), By Region, Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, has evaluated the future growth potential of Saudi Arabia Elevator & Escalator Market and provides statistics and information on market structure, size, share, and future growth. The report is intended 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 present in the Saudi Arabia Elevator & Escalator Market.

Mr. Ken Mathews
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New York – 10017
Tel: +1-646-360-1656
Email: [email protected]

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