Poland Elevator & Escalator Market expected to Grow at high CAGR through 2028
Increasing Demand for modern machine
room less elevators and augmenting new technological advancements is expected
to drive the Poland Elevator & Escalator Market.
According to TechSci Research report, “Poland Elevator & Escalator
Market - By Region, Competition, Forecast & Opportunities, 2028”, Poland
Elevator & Escalator Market is expected to register a high CAGR in future. 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 Global Elevator Modernization
Market stood at USD9,042.05 million in the year 2021 and is expected to grow at
a CAGR of 5.25% in the forecast period.
Based on
elevator
technology, the Poland
Elevator & Escalator Market is dominated by traction segment dominates the Poland
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.
Additionally, 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
elevator modernization market is projected to expand because of these
developments.
Based on end-user, Residential segment is
dominant in Poland Elevator & Escalator Market Due to increased population 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 to preserve their effectiveness
and safety. Additionally, increased understanding of the value of elevator
modernization can favorably impact the market's expansion.
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In terms of regional analysis, the Poland
Elevator & Escalator Market is segmented into Northern & Western Poland, Southern Poland, and Eastern Poland.
Northern & Western Poland has the
highest share since new infrastructure projects are growing rapidly.
Lift, elevator, stairway, and dragline
imports to Poland were mostly supplied by Slovakia, Germany, and Italy,
accounting for a combined 55% of total imports. Following these nations, a
further 36% was contributed by South Korea, the Netherlands, Spain, China,
Sweden, France, India, Austria, and Russia.
Key market players in the
Poland Elevator & Escalator Market include:
- Orona Sp. z o. o.
- Lift Service
SA
- GMV Polska
Sp. z o.o.
- Lift-Malko Przedsiębiorstwo
Konserwacji Dźwigów Sp. J.
- Intec Poland
- Wyltor SA -
(Telco Elevators)
- Fujitsu
Poland
- Tk Elevator
Eastern Europe Gmbh
- Otis
Elevator Company
- Hitachi
Elevator Co. Ltd.
- Hyundai
The residential and public transit categories are growing at the quickest rates
due to increasing demand.
Increased infrastructure
spending and connection between cities and regions are other important points. Moreover,
the places are serviced by public transportation and the routes are feasible, due
to which the prospective purchasers do not appear to be concerned about
investing in properties farther from the city centers.
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Imports of stairways, lifts, elevators, and draglines into Poland increased approximately
40% in 2022. The fastest rate of growth occurred in 2018, when imports rose by
84%. Imports peaked during the period under study in 2021 and are anticipated
to continue growing in the years to come.
The value of total imports
climbed at an average annual rate of 2.7% during the past nine years,
indicating a measured expansion from 2012 to 2021. However, the trend pattern
showed that there were some observable changes during the studied time. Based
on data from 2021, imports declined negative rate at 13.0% as compared to
indicators from 2019. 2018 saw the fastest growth pace, with a 56% increase
over the previous year.
“During the anticipated period, the Poland Elevator & Escalator Market is
anticipated to grow. Due to a growth in industry mergers and acquisitions and
the installation of systems are the factors propelling the market growth,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Poland
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 Poland 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 Poland Elevator
& Escalator Market.
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