UAE Elevators Market to Grow at 8% Till 2021, Says TechSci Research
NEW YORK, January 16, 2017 /PRNewswire/ --
Growing disposable income and booming construction market coupled with favorable government initiatives to drive the demand for elevators and escalators by 2021
According to TechSci Research report, "UAE Elevators & Escalators Market, By Type of Carriage, By Type of Machinery, By Type of Door, By End Use, Competition Forecast & Opportunities, 2011 - 2021'’, the elevators market in the UAE is projected to grow at a CAGR of 8% during 2016 - 2021. With increasing urbanization, growing construction of high rise buildings, booming real estate sector and surging investments by public as well as private entities for the improvement of public infrastructure are expected to drive the demand for elevators and escalators in the UAE during 2016 - 2021.
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Table: Airport Projects in UAE, As of 2016
Project Name Description City Status
Carrying out expansion
Al Maktoum International of an international
Airport Expansion Project airport Dubai Current Project
Passenger Terminal Building Carrying out expansion
Expansion Project - Al of the existing
Maktoum International Airport passenger terminals Dubai Current Project
Midfield Terminal Project - Construction of a
Abu Dhabi International 1.1-kilometer-long
Airport Expansion terminal building Abu Dhabi Current Project
Source: Ministry of Infrastructure and Development
Browse 10 market data Tables and 48 Figures spread through 120 Pages and an in-depth TOC on "UAE Elevators & Escalators Market"
By 2015, passenger elevator segment dominated the UAE elevators market, followed by freight elevators. Increasing number of high rise buildings is driving the demand for passenger elevators across different end user segment including residential, commercial, industrial and government institutions. Major companies operating in the UAE elevators market include ETA Melco, Kone Middle East, Otis, Schindler and ThyssenKrupp, among others. Northern region dominated the UAE elevators market on account of increase in number of infrastructure projects in the region and growing focus on real estate construction.
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"In order to increase focus on infrastructure and urban development, the Government of UAE has taken an initiative to expand the metro lines, and the construction for the same is going on across the country. For instance, Dubai Metro Green Line will be extended in which 11 new metro stations will be added to the route. Moreover, Alstom, ACCIONA and Gulermak signed a contract with Roads & Transport Authority (RTA) to design and build the extension of Dubai's Red Metro Line. This extension will be completed by 2020 and it will add 12 stations to the Red Line, which currently has 29 stations. All these developments in the country are expected to generate huge demand for elevators and escalators in the country during forecast period.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"UAE Elevators & Escalators Market, By Type of Carriage, By Type of Machinery, By Type of Door, By End Use, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of UAE elevator and escalators market and provides statistics and 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 evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in UAE elevators and escalators market.
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