PUBLISHED DATE : Jan 2023 | Pages : 108
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UAE Elevator and Escalator Market Size (Volume)
UAE Elevator Market Size (Volume)
UAE Escalator Market Size by Volume
UAE Elevator and Escalator Size, Share, & Trends Analysis Report by
Elevator Market Segmentation
Escalator Market Segmentation
The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2023-2029
108 Pages
15 Tables
50 Charts
1 Regions
1 Countries
14 Companies
6 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE BY NEW INSTALLATIONS (2029) | 17.1 thousand units |
| MARKET SIZE BY NEW INSTALLATIONS (2022) | 12.4 thousand units |
| CAGR (2022-2029) | 4.73% |
| MARKET SIZE BY INSTALLED BASE (2029) | 123.4 thousand units |
| MARKET SIZE BY MODERNIZATION (2029) | USD 405.4 Million |
| BASE YEAR | 2022 |
| FORECAST YEAR | 2023-2029 |
| Historic Data | 2020-2022 |
| MARKET SEGMENTATION BY CAPACITY | 2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above |
| MARKET SEGMENTATION BY END-USER | Commercial, Residential, Industrial, and Others |
| MARKET SEGMENTATION BY TYPE | Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others |
| MARKET SEGMENTATION BY CARRIAGE TYPE | Passenger and Freight |
The UAE elevator and escalator market was valued at 12.4 thousand units in 2022 (by new installation) and is expected to reach 17.1 thousand units by 2029, growing at a CAGR of 4.73% from 2022 to 2029. The Abu Dhabi Plan Capital 2030 aims to increase urbanization and tourism in the UAE's major cities. The UAE is working on transportation and road infrastructure projects, including the USD 11 billion Etihad Rail project, the USD 5.9 billion projected hyperloop project between Dubai and Abu Dhabi, the USD 2.7 billion Sheikh Zayed double-deck road project, and others. Such factors will support the UAE elevator and escalator market growth during the forecast period. Moreover, in 2021, the UAE's top ten tourism projects were worth USD 40 billion (£27.2 billion), maintaining the country's position as the GCC region's tourism leader.
The growth in skyscrapers and infrastructure investment are long-term demand drivers for the UAE elevator and escalator market. Moreover, as the government pushes forward with different programs, such as the Dubai 2040 urban development plan, the Energy Strategy 2050, the Sheikh Zayed Housing Programme, and the Dubai Tourism Strategy, infrastructure will play a critical role in the UAE's expansion goals. Furthermore, the growing demand for urban transportation and government efforts to boost tourism and expand transportation infrastructure will propel rail and metro construction across the country.
Expanding residential construction to hike elevators and escalators demand
Ongoing demand for buildings construction in infrastructure and commercial sector to boost demand for installation of elevators and escalators.
Government's efforts to expand infrastructure across the nation to increase demand for new installations.
Elevators reaching their average life expectancy mainly in high-rise apartment buildings to boost the demand for maintenance in the UAE elevator and escalator market
Frequently Asked Questions
How big is the UAE elevator and escalator market?
The UAE elevator and escalator market size by new installations accounted for 12.4 thousand units in 2022 and is expected to reach 17.1 thousand units by 2029.
What will be the growth rate of the UAE elevator and escalator market?
The UAE elevator and escalator market share by new installations is expected to grow at a CAGR of 4.73% during the forecast period (2023-2029).
What is the number of installed bases in the UAE elevators and escalators market in 2022?
The number of installed bases in the UAE elevators and escalators market accounts for approximately 92.3 thousand units in 2022.
Who are the key companies in the UAE elevator and escalator market?
The key players in the UAE elevator and escalator market are KONE, Mitsubishi Electric, TK Elevator, Hitachi, Hyundai Elevator, Otis, Fujitec, Schindler, and KÖHLER Elevator GmbH.
The growing installed base, high demand for performance, eco-efficiency, reliability, and safety, new maintenance technologies, aging installed base, high need for sustainability, safety, and people flow, and conversion to smart technology drive the maintenance and modernization segment in the UAE elevator and escalator market.
The UAE elevator and escalator market size by new installations was estimated at 12.4 thousand units in 2022 and is expected to reach 17.1 thousand units by 2029, growing at a CAGR of 4.73% during the forecast period (2023-2029).
The following factors are likely to contribute to the growth of the UAE elevator and escalator market during the forecast period:
Base Year: 2022
Forecast Year: 2023-2029
The report considers the present scenario of the UAE elevators and escalators market and market dynamics for 2023−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study includes the volume and value sales with a segment analysis of the UAE elevator & escalator market.
Key Vendors
Other Prominent Vendors
Elevator Market Segmentation by
Machine Type
Carriage Type
Capacity
End-User
Escalator Market Segmentation by
Product Type
End-User
List of Tables
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