The Kingdom of Saudi Arabia boasts some of the tallest buildings in the world. In fact, the country is currently finalizing the construction plans for a world record breaking skyscraper that will tower almost a mile over the city of Jeddah. With such an affinity for height in mind, it’s easy to see why the Elevators and Escalators Market in Saudi Arabia is flourishing. Indeed, Technavio analysts forecast that this nationwide high rise trend in combination with the recent trend of modernizing legacy elevators will most likely lead to an industry CAGR of 6.82 percent for the 2012-2016 period.
At present, the path of modernization in the Elevators and Escalators Market is being led by long-time key player, Mitsubishi. The company has been at the forefront of the industry since 1980, but has recently taken major steps to focus on developing state-of-the-art elevators and escalators to satisfy the following 3 primary end-user needs:
#1. Speed
The fast-paced lifestyle of Saudi Arabia leads to an increasing need for swift transportation of people and goods. In response to this demand, several cities have started replacing their slow, legacy elevators and escalators with new, more efficient models.
#2. Energy Efficiency
Worldwide pressure to meet the upsurge in global energy needs has led to the adoption of energy-efficient features in buildings. While the total energy consumed by individual elevators or escalators represents only a fraction of a building’s total consumption, the combined environmental impact of all the lift mechanisms in Saudi Arabia is enormous. Several vendors are now developing elevators with microprocessor based controls, in-cab sensors that turn off lights, regenerative drives that recycle energy, and other advanced algorithms to improve environmental friendliness.
#3. Comfort
The boom of luxury hotels and condominiums in Saudi Arabia calls for high-end features in every aspect of a building’s design-including elevators and escalators. This has led market players to focus on the development of quieter, smoother, and more stylish lifts which often include ”ease-of-use” features like rail supported machines and destination controls that automatically manage the traffic flow in building premises.
All things considered, with more skyscrapers being built in Saudi Arabia every year, there’s no danger of the demand for lift mechanisms going anywhere any time soon. In fact, by 2014, Saudi Arabia plans on completing the construction of at least 12 buildings over 200 metres tall. With that, TechNavio analysts conclude that as the nation continues to rise in height, the Elevators and Escalators Market in Saudi Arabia will inevitably follow suit.
Other Related Reports:
Global Elevator and Escalator Market 2011-2015
