The report
“World Elevators to 2017” by Freedonia Group is now available at RnRMarketResearch.com.
Contact sales@rnrmarketresearch.com with report name in subject line
and your contact details to purchase this report or get your questions
answered.
World demand to rise nearly 6% annually through 2017
Global demand for elevator
equipment (including elevators, escalators, moving walkways, and associated
parts) and services was $86 billion in 2012. Demand is projected to grow almost
six percent annually through 2017, a deceleration from the pace of the 2007-2012
period, when gains were fueled by explosive growth of more than 25 percent per
year in China. Even though the Chinese market will cool from that breakneck
pace, it will still generate nearly one-half of the increase in the world
demand for elevator equipment and services between 2012 and 2017.
Complete report available @ http://www.rnrmarketresearch.com/world-elevators-to-2017-market-report.html
.
Other developing markets that will
contribute to global advances through 2017 include India, as the country adds
50 million urban residents and per capita GDP increases faster than the global
average. Central and South America is expected to see above-average increases,
led by Brazil, the region’s largest elevator market. The Africa/Mideast region
is also expected to experience strong growth, though much of the expansion will
be confined to Turkey and high-income urban areas in the Middle East.
US market to outpace most high-income countries
Growth in the US demand for
elevator services will outpace that in most highincome countries, as the market
will be recovering from a very low 2012 base. Increases in Japan and Western
Europe will be below the world average, but will also mark significant
increases from the marginal growth in the 2007 to 2012 period.
Elevator equipment demand to outpace elevator services
In 2007, global demand for
elevator services exceeded demand for equipment. Western Europe, then the world’s
largest regional market, had a large installed base of elevators and stringent
safety codes bolstered the modernization and repair service market. However,
2012 marked a significant change in the global market, as demand for equipment
exceeded service demand for the first time, driven by strong growth in new unit
installations in the developing world. That trend is expected to continue
through 2017, as the many new units recently added in developing countries will
not need as many costly repairs as Western Europe’s aging stock, and safety
codes may be less strictly enforced.
Request a sample copy @ http://www.rnrmarketresearch.com/contacts/request-sample?rname=137988
.
China’s share of new unit sales to decline slightly
Passenger and freight elevator
sales on a per unit basis were 914,000 units in 2012. While the Chinese
elevator market made up over 30 percent of global demand by value, it was even
more significant on a per unit basis, as 58 percent of the world’s new elevator
units were sold in China in 2012. World new unit sales are forecast to grow 3.4
percent annually through 2017 to 1.1 million, though China’s share will decline
slightly.
MRL elevators to continue gaining market share
Through 2017, the equipment market
will focus on energy efficient elevators, escalators and moving walkways.
Manufacturers have introduced many new technologies and improved existing ones
to be more efficient. Space and energy saving machine room-less (MRL) elevators
will continue to increase their penetration of the global elevator market
through 2017, and will dominate the market in the ensuing years.
Company Profiles
Profiles 41 competitors in the
industry worldwide including Hitachi, KONE, Otis Elevator (United
Technologies), Schindler and ThyssenKrupp
Buy a report copy @ http://www.rnrmarketresearch.com/contacts/purchase?rname=137988
.
