6wresearch logo

South East Asia Elevator and escalator Market (2016-2022)-6Wresearch

September 23, 2016

During last five years, elevator and escalator market registered significant growth in terms of new installations across various South-East Asian countries. Surging construction market, growing government spending, infrastructural development and increasing FDIs in retail and construction sectors have led for the growth of the market.

According to 6Wresearch, South-East Asia Elevator and Escalator Market is expected to grow at a CAGR of 3% during 2016-22. Growing number of skyscrapers, increasing deployment in residential vertical coupled with declining import taxes are driving the demand for elevator and escalator in South-East Asian region. Declining import taxes has resulted in reduction of prices of various commodities including elevator and escalator components. Vietnam Ministry of Finance has reduced tariff rates to zero on 90% of the goods under the ASEAN Trade in Goods Agreement (ATIGA).

According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "Commercial vertical accounted for major revenue share in the overall market. Under commercial sector, South-East Asia region is witnessing significant development activities especially in the areas of retail, hospitality and transportation. Also, increasing construction in residential vertical is further anticipated to stimulate the growth of the market in the forecast period".

"Moreover, increasing number of foreign tourists has driven the construction of new hotels across the region, especially in Indonesia and Malaysia. On the contrary, due to political unrest in Thailand and slowdown of foreign investments in Philippines have significantly impacted government spending," Samuel further added.

According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, "Amongst all market segments, new installation segment contributes a major share in the market revenues. However, with growing elevator and escalator installed base in the region, maintenance segment is expected to witness key growth over the next six years."

"Further, Malaysia, Vietnam and Indonesia have accounted for largest revenue share in South-East Asia elevator and escalator market attributed to key construction projects in commercial vertical," Shefali concluded.

Some of the major companies in South-East Asia elevator and escalator market include- Fujitec Co. Ltd, Hyundai Elevator Co. Ltd, Hitachi Ltd., Kone Corporation, Mitsubishi Electric, Otis Elevator, Schindler, ThyssenKrupp, and Toshiba Elevators.

"South East Asia Elevator and escalator Market (2016-2022)" provides in-depth analysis with 176 figures and 35 tables covered in more than 280 pages. The report estimates and forecast overall South-East Asia elevator and escalator market by revenue, by types, by countries, by services and by verticals such as residential, commercial, and industrial. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.

Media Source: Open PR

      Browse More Report

India Unified Communications and Collaboration Market (2017–2023)

Market Forecast By Solution Types (Voice, Message and Others), Verticals (BSFI, Logistics & Transportation, Government and Public Utilities, Retail, Hospitality & Healthcare, Commercial Offices & IT/ITeS and Education)...

Read More

India Diesel Genset Market (2018-2023)

Market Forecast by KVA Ratings (5KVA-75KVA, 75.1KVA-375KVA, 375.1KVA-750KVA, 750.1KVA-1,000KVA, 1,000.1KVA-2,000KVA and Above 2,000KVA), Verticals (Commercial (Retail, Commercial Offices, Telecom, Hospitals, Hotels, BFSI, Transportation and Others), Industrial (Manufacturing, Energy and Others) and Residential)...

Read More

Saudi Arabia Electric Drives Market (2017-2023)

Market Forecast by Types (AC Drives and DC Drives), Voltage (Low Voltage Drives (< 1 KV) and Medium Voltage Drives (1 KV & Above)), Power (Low Power Drives (< 40 kW), Medium Power Drives (41 – 200 kW) and High Power Drives (> 200 kW))...

Read More

UAE Fire Safety Systems and Equipment Market (2017-2023)

Market Forecast by Types (Fire Fighting Systems and Equipment (Fire Extinguishers (CO2, Dry Chemical, Clean Agent, Foam Fire, Wet Chemical and Water), Fire Detection and Alarm Systems and Equipment (Smoke Detectors, Heat Detectors, Gas Detectors, Flame Detectors...

Read More

India Solid State Drive (SSD) Market (2017-2023)

Market Forecast by Technology (SLC,MLC and TLC), Interface Type (SATA II, SATA III, PCIe/ NVMe, SAS 6GB/s and SAS 12GB/s), Application (Client and Enterprise) and Competitive Landscape

Read More

Saudi Arabia Fire Safety Systems and Equipment Market (2017-2023)

Market Forecast By Types (Clean Agent, CO2, Wet Chemical & Dry Chemical), Verticals (Residential, Commercial, Industrial, Hospitality, Retail and Oil & Gas), Regions (Eastern, Western, Central & Southern) and Competitive Landscape

Read More

Qatar Fire Safety Systems and Equipment Market (2017-2023)

Market Forecast by Types (Fire Suppression Systems & Equipment, Fire Detection System & Equipment & Other Fire Safety Systems & Equipment), Verticals (Residential, Commercial, Industrial, Hospitality, Retail and Oil & Gas)...

Read More

Europe Energy Storage Systems Market (2017–2023)

Market Forecast By Technology (Electro-Chemical Energy, Mechanical Energy, Thermal (Molten Salt) and Others), Applications (Residential, Power Utilities, Commercial & Industrial and Transportation) and Countries (Germany, France, Spain, United Kingdom, Italy and Rest of Europe)

Read More

India Video Surveillance as a Service Market (2017-2023)

Market Forecast By Service Types (Hosted, Managed & Hybrid), Verticals (Government & Transportation, Retail, Commercial, Hospitality & Healthcare, Residential and Industrial...

Read More


Our Key Clients
6wreserach client list