DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/3mqqqw/elevator_and) has announced the addition of the "Elevator and Escalator Market in the GCC 2014-2018" report to their offering.
The Elevator and Escalator market in GCC is driven by many growth factors, one of which is the increasing construction of skyscrapers. This has driven the growth of the market in GCC as the sale of elevators and escalators is highly correlated with the construction of high buildings. The rising demand for commercial and residential buildings is fueling the growth of the market.
The Elevator and Escalator market in GCC is witnessing the emergence of green elevators and escalators in the region. As a result of the growing demand for energy-efficient elevators and escalators in the GCC, vendors are spending more on their R&D activities to develop new-generation products. For instance, Schindler 3300 elevators by Schindler claim to be 60 percent more energy-efficient than traditional hydraulic elevators. Mitsubishi's R&D activities are focused on manufacturing Mitsubishi elevators and escalators Number One Green in the industry.
Otis claims its Gen2 MRL elevators reduce energy consumption by 50 per cent of that of traditional units. Moreover, elevators are being incorporated with corridor illumination controls that help in reducing energy consumption in buildings. Further, vendors are designing elevators that shut down their inside lighting until a passenger call arises. Vendors are also incorporating regenerative drives into elevators for increased energy saving. Thus, the market is expected to witness increasing demand for green elevators during the forecast period.
Further, the report states that the high cost of elevators and escalators is one of the key challenges. The price of elevators and escalators has increased because of technological advancements. Moreover, although the newer models consumer less electricity, they are too costly.
- Fujitec Co. Ltd.
- KONE Corp.
- Mitsubishi Electric Corp.
- Otis Elevator Co.
- Schindler Holding AG
Other Prominent Vendors
- Gulf Elevators and Escalators Co. Ltd.
- Hitachi Ltd.
- Hyundai Elevator Co. Ltd.
- SIGMA Elevator Co.
- ThyssenKrupp AG
- Toshiba Elevator and Building Systems Corp.
For more information visit http://www.researchandmarkets.com/research/3mqqqw/elevator_and