TechNavio recognizes the following companies as the key players in the Elevator and Escalator Market in China: Hitachi Ltd., KONE Corp., Otis Elevator Co., and Shanghai Machinery and Electrical Industry Co.Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “Elevators and escalators consume a lot of electricity. Hence, there is increased need for developing energy-efficient elevators and escalators. Furthermore, as a result of globalization, there is increased competition among elevator and escalator manufacturing companies across the globe to manufacture best-in-class and high energy-efficient products. Several vendors are increasingly developing elevators with destination control systems and other controllers that reduce the energy utilized during the idle time. Furthermore, elevators are incorporated with corridor illumination controls that help in reducing energy consumption in buildings.”
According to the report, one of the major growth drivers in the market is increasing growth of the Construction industry in China. The increase in the number of buildings with increased floor space index for optimal utilization of land drives the Elevator and Escalator market in China.
Further, the report states that one of the major challenges in the market is the high cost of elevators and escalators. The initial investment to purchase elevators and escalators is very high, which affects the growth of the market among cost-driven end-users.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/elevator-and-escalator-market-china-201…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Elevator and Escalator Market in China 2012-2016
