DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/72k4h4/elevator_and) has announced the addition of the "Elevator and Escalator Market in the BRIC countries - Market Study 2015-2019" report to their offering.
This market research report segments the elevator and escalator market in BRIC countries by product (elevators and escalators) and by geography (Brazil, Russia, India, and China). Key leading vendors analyzed in this market study are Hitachi, KONE, Mitsubishi, Otis, Schindler, and ThyssenKrupp.
Market outlook of the elevator and escalator market in the BRIC countries
Elevators and escalators are installed in public places and mixed-used buildings like IT parks, hotels, restaurants, and retail outlets. The market for escalators and elevators in the BRIC countries is estimated to post a modest growth rate of more than 13% by 2019. The unparalleled growth witnessed in the construction market in BRIC countries is expected to account for this market's steady growth rate during the forecast period.
Among all the BRIC countries, China is expected to dominate the market for elevators and escalators during the forecast period. In China, the elevators segment is envisaged to account for more than 88% of the total new unit installations, while the escalators segment is expected to account for a mere 11% of the total new unit installations.
Competitive landscape and key vendors
The elevator and escalator market in BRIC countries is dominated by a few leading vendors like Hitachi, KONE, and Mitsubishi. Despite the dominance of the leading vendors, many small domestic vendors take part in country-specific construction activities and offer services like elevator and escalator installation, maintenance, and modernization services.
With the expansion of the construction market in BRIC countries, construction companies focus on achieving energy-efficiency certifications for their projects, leading to a subsequent rise in demand for energy-efficient elevators and escalators.
According to the report, the elevator and escalator market in BRIC countries is largely driven by the growth of the construction market. Construction activities are steadily growing in sectors like infrastructure, residential, and commercial. New public infrastructure projects and large-scale residential projects are expected to drive growth in the elevator and escalator market in these countries.
Further, the report states that high manufacturing costs may affect market growth negatively. Elevators and escalators are being equipped with new technologies like closed-circuit television (CCTV) cameras, vibration sensors, and emergency exit systems, which add to the overall manufacturing cost
Leading vendors in this market are
Other prominent vendors are
- Canny Elevator
- Express Lifts
- Express Lifts
- Hyundai Elevator
- Johnson Lifts
- Kleemann Group
- Shenyang Brilliant Elevator
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