Hungary Elevator and Escalator Market (2020-2026) | Size, Forecast, Growth, Analysis, Industry, Trends, Revenue, Value, Outlook & COVID-19 IMPACT

Hungary Elevator And Escalator Market | Country-Wise Share and Competition Analysis

In the year 2021, France was the largest exporter in terms of value, followed by China. It has registered a growth of 280.03% over the previous year. While China registered a growth of 2654.76% as compared to the previous year. In the year 2017, Finland was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Hungary has a Herfindahl index of 2149 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  2110 which signifies moderately concentrated in the market.

Hungary Elevator And Escalator Market - Export Market Opportunities

Topics Covered in the Hungary Elevator And Escalator Market

Hungary Elevator And Escalator Market report thoroughly covers the market by types, by services, and by end-user. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Hungary Elevator And Escalator Market are projected to grow over the coming years. Hungary Elevator And Escalator Market report is a part of our periodical regional publication Asia Pacific Elevator And Escalator Market Outlook report. 6W tracks the elevator and escalator market for over 60 countries with individual country-wise market opportunity assessment and publishes the report titled Global Elevator And Escalator Market outlook report annually.

Hungary Elevator And Escalator Market Synopsis

Hungary Elevator And Escalator Market is projected to witness growth during the forecast period on account of increasing discretionary expenses, the growing construction industry, and the need for vertical transportation in high-rise buildings. There is a shortage of skilled technicians in Hungary, which led to an increase in elevator and escalator failures. Moreover, there is intense competition from foreign manufacturers which have been aggressively targeting the market, and they have been successful in winning market share.

According to 6Wresearch, the Hungary Elevator And Escalator Market size is anticipated to grow at a higher growth rate during 2020-26. There are several factors propelling the market expansion such as the growing economy of Hungary, which is driving up demand for new commercial and residential construction projects. In addition to this, the government is also investing heavily in infrastructure development of the country, which is also boosting Hungary Elevator And Escalator Market Growth. The growing middle class and rising discretionary expenses are resulting in increased demand for elevators and escalators in personal households. However, the high installation cost of elevators and escalators is the major restraining factor for the growth of the market. Nevertheless, the development of energy-efficient elevators and escalators that use less energy is gaining immense popularity in this market. They are more reliable and their maintenance cost is cost-efficient. The Hungary Elevator And Escalator Industry is expected to grow rapidly during the forecast period owing to an increase in government investments and rapid urbanization.

COVID-19 Impact on the Hungary Elevator And Escalator Market

The pandemic has had a negative impact on the Hungary elevator and escalator market size as it has resulted in a decrease in demand for new installations and maintenance. In addition, the outbreak has led to the cancellation of many large-scale construction projects, which in turn, impacted the demand for elevators and escalators in Hungary. The demand for elevators and escalators in Hungary has decreased since the pandemic started. The pandemic has also impacted the supply chain for elevators and escalators as manufacturers have experienced disruptions to their supply chains due to lockdowns.

Key Players in the Hungary Elevator And Escalator Market

The players operating in this market are implementing various strategies to stay competitive. The companies have a strong presence in the country and hold a significant share in the market. They are engaged in various activities such as mergers & acquisitions, partnerships, and expansions to gain a competitive edge in the market.

There are various players operating in Hungary Elevator And Escalator Market which include;

• Kone Corporation
• Schindler Group
• ThyssenKrupp AG
• Hyundai Heavy Industries Co. Ltd.
• Mitsubishi Electric Corporation
• Toshiba Elevator and Building Systems Corporation
• Express Lift Company
• Orona S.A

Market Analysis by Types

In terms of types, the elevator segment is dominating the Hungary Elevator and Escalator Market share owing to its widespread use in commercial and residential buildings.

Market Analysis by Services

According to Shivankar, Research Manager, 6Wresearch, the maintenance and repair segment is expected to gain traction during the forecast period as elevators and escalators require regular servicing to ensure smooth operation.

Market Analysis by End-User

Based on end-users, the commercial segment is projected to gain the largest market share due to the increasing number of high-rise buildings and the emergence of shopping malls in Hungary.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

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• Hungary Elevator and Escalator Market Outlook
• Market Size of Hungary Elevator and Escalator Market, 2019
• Forecast of Hungary Elevator and Escalator Market, 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Revenues & Volume for the Period 2016 - 2026
• Hungary Elevator and Escalator Market Trend Evolution
• Hungary Elevator and Escalator Market Drivers and Challenges
• Hungary Elevator and Escalator Price Trends
• Hungary Elevator and Escalator Porter's Five Forces
• Hungary Elevator and Escalator Industry Life Cycle
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Types for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Elevator for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Escalator for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Moving Walkways for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Services for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Maintenance & Repair for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By New Installation for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Modernization for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By End-User for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Residential for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Commercial for the Period 2016 - 2026
• Historical Data and Forecast of Hungary Elevator and Escalator Market Revenues & Volume By Public for the Period 2016 - 2026
• Hungary Elevator and Escalator Import Export Trade Statistics
• Market Opportunity Assessment By Types
• Market Opportunity Assessment By Services
• Market Opportunity Assessment By End-User
• Hungary Elevator and Escalator Top Companies Market Share
• Hungary Elevator and Escalator Competitive Benchmarking By Technical and Operational Parameters
• Hungary Elevator and Escalator Company Profiles
• Hungary Elevator and Escalator Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Types

• Elevator
• Escalator
• Moving Walkways

By Services

• Maintenance & Repair
• New Installation
• Modernization

By End-User

• Residential
• Commercial
• Public