The Elevators market study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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- Global elevators market registered exponential growth at a CAGR of over 9% from 2014 to 2018. Monumental growth of the building and construction industry along with increasing reliance on technology is underpinning growth of elevators market.
- Worldwide sales of elevators exceeded a valuation worth US$ 65 Bn in 2018, and are estimated to grow by over 10% Y-O-Y in 2019.
- Asia Pacific will continue to be the leading market for elevators, with flourishing economies such as China and India at the forefront of demand. Elevator sales in Asia Pacific are predominantly upheld by increasing focus on infrastructure development and swift pace of urbanization across developing economies. In addition, Asia Pacific is also likely to emerge as a high growth market for elevators through 2029.
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- Energy efficiency ranks among the top end-user considerations while choosing a specific elevator model. In line with the aforementioned, manufacturers are extensively focusing on development of elevators that offer energy and space saving benefits.
What are the Key Growth Drivers of Elevators Market?
- Rapid urbanization and the consequential proliferation of multi-storey buildings will continue to intensify the demand for elevators.
- A massive outpouring of investments in building and construction projects is likely to underpin growth of elevators market.
- Focus on upgrading infrastructure of industrial, commercial, and residential spaces is likely to set a buoyant tone for elevators market in 2019 and beyond.
- Escalating demand for elevators from industrial units for seamless transportation of heavy loads to various floors will continue to boost market revenues through 2029.
The Elevators market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
- Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
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The Elevators market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
And so on…..
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