South Africa Elevator And Escalator Market (2019-2025) | Share, Size, Revenue, Analysis, Forecast, Trends, Growth & Outlook

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

In the year 2021, China  was the largest exporter in terms of value, followed by Italy. It has registered a decline of -21.49% over the previous year. While Italy registered a decline of -16.2% as compare to the previous year. In the year 2017 China was the largest exporter followed by Thailand. In term of Herfindahl Index, which measures the competitiveness of countries exporting, South Africa has the Herfindahl index of 5366 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  5384 which signifies high concentration in the market.

South Africa Elevator And Escalator Market - Export Market Opportunities

Latest 2023 Development of the South Africa Elevator and Escalator Market

South Africa Elevator and Escalator Market are experiencing immense growth in recent years. The primary growth factors of this market include the growing demand for elevators and escalators in South Africa, driven by urbanization, and increasing construction activity. In addition, the focus on safety and reliability with the aim of improving the overall infrastructure in the country has led to increased scrutiny of suppliers and a greater emphasis on quality control. Moreover, the South Africa elevator and escalator market has been adopting innovative technologies such as Internet of Things sensors and predictive maintenance to upgrade overall efficiency. The market for elevators and escalators in South Africa is highly competitive. The major companies have been investing in new technologies and expanding their service offerings to tap into the growing market.

Moreover, there is an increasing demand for elevators and escalators in high-rise buildings, offices, and shopping malls due to which the South Africa Elevator and Escalator Industry is forecast to witness growth in the upcoming years. The elevator and escalator industry is constantly evolving, with advancements in technology leading to more efficient and safer equipment. Furthermore, the country's tourism industry is growing which has resulted in rising construction projects of shopping centres and entertainment venues in which there is a need to construct elevators and escalators.

South Africa Elevator and Escalator Market Synopsis

South Africa Elevator and Escalator Market are expected to grow substantially during the upcoming years on account of increasing construction activities and infrastructure development. The growing disposable income coupled with improvement in the standard of living is also adding to the development of the market. Moreover, increasing awareness regarding modern infrastructure is backed by the increasing establishment of hotels, restaurants, commercial offices, and residential homes. Moreover, the increasing old age population along with the building of a shopping complex is also adding to the development of the industry.

South Africa elevator and escalator market are largely expected to stabilize itself with a lackadaisical growth rate over the coming years. The South African economy has shown signs of rebound with the construction sector set to emerge from the recession period post-2019. This development would keep the market for elevators and escalators afloat.

According to 6Wresearch, South Africa Elevator and Escalator Market size is projected to grow at a CAGR of 2.1% during 2019-2025F. The South Africa elevator and escalator market are expected to undergo a period of slowdown over the coming years, as the country has not seen any major construction boom post-2010 soccer world cup. Further, the fiscal crisis also had an impact on the construction sector of the country, however, the sector is likely to gain momentum at a tepid pace over the coming years due to the Government’s ongoing National Development Plan and initiatives related to the development of Public Infrastructure which is further likely to keep the market demand for elevators and escalators afloat during the forecast period.

Market Analysis By Application

By applications, the commercial application will continue to account for the highest revenue share which can be attributed to the constant flow of FDI in the sector.

Market Analysis By Type

By type, passenger elevators are likely to remain the dominating category due to their high weight carrying capacity and faster speed as compared to cargo which makes them the best fit for high-rise buildings. Additionally, the retail and hospitality sectors are expected to grow due to the constant growth of tourism in the country.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2015 to 2018.
• Base Year: 2018.
• Forecast Data until 2025.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

  

Key Highlights of the Report:

• South Africa Elevator and Escalator Market Overview
• South Africa Elevator and Escalator Market Outlook
• South Africa Elevator and Escalator Market Forecast
• South Africa Elevator and Escalator Market Size and Historical Data of South Africa Elevator and Escalator Market Revenues & Volume for the Period 2015-2018
• South Africa Elevator and Escalator Market Forecast of Revenues & Volume, Until 2025
• Historical Data & Forecast of South Africa Elevator and Escalator Market Revenues, By Types, Applications, and Services for the Period 2015-2025F
• Historical Data & Forecast of South Africa Elevator Market Revenues & Volume for the Period 2015-2025F
• Historical Data & Forecast of South Africa Escalator Market Revenues & Volume for the Period 2015-2025F
• Historical Data & Forecast of South Africa Elevator Market Revenues, By Types, Applications, and Services for the Period 2015-2025F
• Historical Data & Forecast of South Africa Escalator Market Revenues, By Types, Applications, and Services for the Period 2015-2025F
• Market Drivers, Restraints, and Trends
• South Africa Elevator and Escalator Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• South Africa Elevator and Escalator Market Opportunity Assessment
• South Africa Elevator and Escalator Market Share, By Players
• South Africa Elevator and Escalator Market Overview, By Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The South Africa elevator and escalator market report provides a detailed analysis of the following market segments:

By Types:

o   Elevator

• • Passenger
  • Cargo
  • Home

o   Escalator

• • Moving Stairs
  • Moving Walks

By Applications:

• Commercial
• Residential
• Industrial

By Services:

• New Installations
• Maintenance
• Modernization