Elevators and escalators: Key market research findings
- Growing preference for MRL elevators
- Increase in tourist population
Technavio has added a new market research report on the elevators and escalators market in Argentina, to its construction portfolio. The elevators and escalators market in Argentina is expected to grow at a CAGR of around 5% between 2015 and 2019, owing to the increase in construction activities. Rapid rise in population is expected to boost the demand for housing and infrastructural development in the country during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the market is witnessing increased preference for machine-room-less (MRL) and multipurpose elevators. The construction companies are aiming to expand the capacity of elevators that can accommodate more people without making structural changes to buildings. MRL elevators consume less space and hence can be installed in the existing buildings with miimal structural changes,” says Navin Rajendra, Lead Analyst, Heavy Industry, Technavio Research.
Increase in the international tourist population visiting the country will lead to the construction of new hotels and entertainment centers, fuelling the growth of elevators and escalators. Apart from new installations, the demand for maintenance and modernization of installed equipment is also likely to grow during the forecast period.
The key players in the elevators and escalators market in Argentina include Mitsubishi Electric, Otis Elevator, Schindler, and ThyssenKrupp. This market is highly competitive and is primarily dominated by large players like ThyssenKrupp and Schindler. Despite the presence of large vendors in this market, regional companies like Simonelli, Condor, and Servas provide amenities like elevator and escalator installation, maintenance, and modernization services in Argentina. These regional vendors are cost effective and provide affordable solutions to SMEs and smaller construction companies that primarily engage in small/medium-scale residential or commercial development projects.
A more detailed analysis is available in the Technavio report, Elevators and Escalators Market in Argentina 2015-2019.
We can customize reports by other regions and specific segments upon request.
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