Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Elevator & Escalator Market By Type (Elevator, Escalator and Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural and Others), By Elevator Door Type (Automatic and Manual), By Region, Competition, Forecast & Opportunities, 2025” under Heavy Industry category. The Saudi Arabia Elevator & Escalator Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Elevator & Escalator Market was valued USD 1049.87 Million in 2019 and is forecast to grow at CAGR of 6.86% in value terms, to reach USD 1340.09 Million by 2025. Booming construction sector, increasing number of high-rise building projects and rapid infrastructure development are the key factors driving Saudi Arabia elevator & escalator market. Under its “Vision 2030” program, Saudi Arabia is trying to diversify its economy from oil to non-oil-based and therefore, working on developing tourism & corporate hubs in the country, which in turn is expected to increase the number of buildings, thereby boosting the demand for elevator and excavator during the forecast period. As the investments for travel & tourism and smart infrastructure are increasing, elevator and excavator market is likely to grow in the coming years in Saudi Arabia.
Saudi Arabia elevator & escalator market is segmented based on type, service, elevator technology, end-user, elevator door type, and region. Based on type, the market can be segmented into elevator, escalator and moving walkways. The elevator segment accounted for share of 88.32% in 2019 and is anticipated to continue dominance until 2025 owing to their widespread use in various end user industries. Based on elevator technology, the market can be fragmented into traction, hydraulic and machine room-less traction. The machine room-less traction segment grabbed the largest market share in 2019 and is also expected to grow at the fastest pace during forecast period on account of their higher efficiency and smoother ride.
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Regionally, Saudi Arabia elevator & escalator market has been segmented into Riyadh, Makkah, and Easter Province. Among these regions, Riyadh is expected to dominate the country’s elevator & escalator market majorly due booming construction sector in the region.
Major players operating in Saudi Arabia elevator & escalator market include Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia, among others.
Years considered for this report:
Historical Years: 2015 - 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 - 2025
Objective of the Study:
• To analyze and forecast the market size of Saudi Arabia elevator & escalator market.
• To classify and forecast Saudi Arabia elevator & escalator market based on type, service, elevator technology, end use, elevator door type, and regional distribution.
• To identify drivers and challenges for Saudi Arabia elevator & escalator market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia elevator & escalator market.
• To identify and analyze the profile of leading players operating in Saudi Arabia elevator & escalator market.
Our Research performed both primary as well as exhaustive secondary research for this study. Initially, Our Research sourced a list of elevator and escalator manufacturers and suppliers across the globe. Subsequently, Our Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Our Research could include the service providers which could not be identified due to the limitations of secondary research. Our Research analyzed the service providers, distribution channels and presence of all major players across the globe.
Our Research calculated the market size of Saudi Arabia elevator & escalator market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Our Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Our Research.
Key Target Audience:
• Elevator & escalator manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to elevator & escalator
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia elevator & escalator market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Type:
o Moving Walkways
• Market, By Service:
o Maintenance & Repair
o New Installation
• Market, By Elevator Technology:
o Machine Room-Less Traction
• Market, By End User:
• Market, By Elevator Door Type:
o Eastern Province
o Rest of Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Elevator & Escalator.
With the given market data, Our Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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