6wresearch logo

UAE elevator, escalator market to grow at 3.9pc

April 26, 2016

The UAE elevator and escalator market will grow at a compound annual growth rate (CAGR) of 3.9 per cent during 2016 to 2022, according to 6Wresearch, a leading market intelligence and advisory centre.

UAE is the second largest construction market in the GCC region after Saudi Arabia, and the construction market in the UAE contributed nearly 11 per cent to the country's gross domestic product (GDP) in 2015 and is further estimated to achieve 12 per cent by the end of 2016, said a statement.

Government spending on improvising public infrastructure is leading to the growth of construction industry in the country, and the expansion in the areas of metro network and airport have led for the installation of elevators and escalators in UAE, it said.

The UAE elevator and escalator market is highly consolidated with few players accounting for major volume share. Although, the market in UAE remained stagnant in last few years, but with falling oil prices, the market is expected to decline due to halt in various government projects, said a statement by 6Wresearch.

In 2015-16, several infrastructure projects are anticipated to be on hold owing to dismay of investments. Though, upcoming World Expo in 2020 is forecast to elevate major construction projects in the coming years, it added.

Prijo Samuel, senior research analyst, research and consulting, 6Wresearch, said: "In vertical market, commercial vertical comprising of government and transportation, banking, financial and commercial offices accounted for largest share in revenue terms followed by residential and industrial verticals, respectively."

"Additionally, the upcoming World Expo would result in influx of tourists from across the globe, thus driving the construction of new hotels, malls and expansion of metro network and airports. These infrastructures would deploy elevators and escalators, which would provide necessary boost to the overall market," he added.

Akash Shukla, research associate, research and consulting, 6Wresearch, said: "The growth of elevator and escalator market in UAE is driven by new installations followed by maintenance and modernisation."

"Vast public infrastructure and commercial projects are expected to spur the demand for new elevators and escalators in the country," he said.

"Moreover, amongst all regions, Southern region consisting of Abu Dhabi would register growth over the next six years. Further, several projects are under work-in progress and are funded by Abu Dhabi Investment Authority (ADIA), which is pushing the construction in the region," he added. - TradeArabia News service

Media Source: GDN Online

      Browse More Report

India Diesel Genset Market (2017-2023)

Market Forecast By KVA Rating (5-75 KVA, 75.1-375 KVA, 375.1-750 KVA, 750.1-1000 KVA, 1000.1-2000 KVA and above 2000 KVA), Verticals (Commercial and Industrial), Regions (Northern, Western, Southern, Eastern & North Eastern) and Competitive Landscape

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

India Building Automation and Control Market (2017-23)

Market Forecast by Types (Relay, Sensors & Dimming & Others), Verticals (Government & Transportation, Retail, Commercial Offices, Residential, Healthcare & Hospitality and Others)

Read More


Our Key Clients
6wreserach client list