Elevators and escalators were invented to increase the ease with which people could move between floors of a building. Growing need for convenient and speedy traveling to different levels of the building across the world has given a rapid boost to the global elevators and escalators market. Apart from that, busy time schedules and increased number of ageing population necessitate the facility of escalators and elevators in residential apartments. Market Research Hub (MRH) has freshly publicized a new study, titled “Elevators and Escalators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2026” to its wide repository, which accurately predicts the future of the market and also gives an impression of the present market situation. According to this precise study, the global elevators and escalators market is projected to reflect a CAGR of 7.4% over the forecast period, 2017-2026.
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In the initial section, the report describes the scope of the analysis along with the current market overview of elevators and escalators. A vital fact about the installation of the escalators and elevators is that it allow a large number of people to travel to different levels of the building smoothly. They are installed in underground train stations, airports, and shopping malls. The customers do not need to wait in the cue to travel to different levels of a building. As children, old aged people and arthritis patients experience pain and discomfort while climbing the long range of stairs, constructors are increasingly integrating enhanced solutions to travel through the building. These factors are projected to impact the global market growth of elevators and escalators positively during the forecast period.
Moreover, escalators and elevators allow the end users to quickly navigate in the building, which further contributes towards speedy completion of operations and process. Adoption of the escalators and elevators in the government agencies and financial institutions, providing a significant impact in the global market. A new trend witnessed in the construction industry includes installing weatherproof escalators outside the building. It has been also stated in the report that the construction industry is focusing on installing horizontal escalators in the airports that enables the tourists and travelers to carry huge loads and luggage to their platforms conveniently.
In the next section, the global elevators and escalators market is mainly segmented as service type, application, and region. Geographically, the global market is segmented as North America, Latin America, Europe, Japan, APEJ and MEA.
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The final section of the report deals with the competitive landscape which highlights the key players that are operating in the elevator and escalator market along with details such as business positioning, financial standing, and SWOTs. At present, key market players in the global elevators and escalators market are Otis Elevator Company, Kone Corporation, Thyssenkrupp AG, Canny Elevator, Schindler Group, Fujitec, Mitsubishi Electric Corporation, Hitachi, Ltd., Toshiba Elevators and Building Systems Corporation, SJEC Corporation, Hyundai Elevator Co., Ltd., Kleeman Hellas SA, and Shanghai Mechanical.
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