LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent elevator and escalator market in Australia report until 2021. This research report also lists 28 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the elevator and escalator market in Australia for 2017-2021 provides detailed industry analysis based on product (elevator and escalator) and service (new installations, maintenance, and modernization).
“The global elevator and escalator market in Australia is projected to grow to more than USD 1,904 million by 2021, at a CAGR of close to 4% over the forecast period. The Chinese resurgence in commercial and residential real estate, which is a popular investment destination for Australia, is expected to drive the growth of the market,” says Likhitha Bandla, a lead analyst at Technavio for construction research.
Competitive vendor landscape
KONE, Otis Elevator, Schindler, and ThyssenKrupp dominate the elevator and escalator market in Australia. The key vendors in the market are mainly focusing on providing elevator and escalator installation, maintenance, and modernization solutions for large-scale public infrastructure, residential, and commercial construction projects. Other small vendors in the market deliver affordable solutions to small and medium-sized enterprises (SMEs), smaller construction companies, and developers that engage mainly in small-scale residential developmental projects.
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Top five vendors in the elevator and escalator market in Australia
Otis Elevator operates as a subsidiary of United Technologies. The company designs, manufactures, and maintains people-moving products such as escalators, elevators, and moving walkways. The company is part of APAC operations, which also encompasses Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam.
KONE Australia provides elevators, escalators, auto walks, automatic doors, and integrated vertical transport systems. The company provides maintenance and modernization services. It supplies services throughout the lifecycle of the equipment, including the installation, maintenance, and replacement.
Schindler provides passenger elevators, freight elevators, escalators and moving walks, and modernization services. It engages in the design, manufacture, installation, maintenance, and marketing of an extensive range of elevators, escalators, moving walks, and transit management solutions.
ThyssenKrupp Elevator Australia
ThyssenKrupp Elevator Australia provides passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts, and service solutions in the country. It is a diversified industrial company specialized in materials and capital goods and service businesses. The company has engineering expertise in mechanical, plant, and materials areas.
Shotton Lifts is a part of the Shotton Group of companies, which has over 30 years of experience in designing and supplying lift components. The company manufactures residential and commercial lifts in South Victoria, Australia. It provides passenger elevators and service solutions.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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