- The key vendors in the elevators and escalators market in United Kingdom 2015-2019 are Fujitec UK, KONE, Otis Elevator, Schindler UK and ThyssenKrupp Elevator UK.
London, 11 September 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the elevators and escalators market in United Kingdom 2015-2019. The growth of the elevator and escalator market in the UK is attributed to the recovery of the construction market, especially in the residential construction and transportation sector. Also, growth of public transport projects require effective deployment of elevator and escalator equipment to facilitate free movement of passengers and goods at stations. The elevator and escalator market in the UK is predicted to grow at a CAGR of 6.08% during 2014-2019.
A boom in the construction of high-rise buildings in the UK has led to the growth of the elevators and escalator market in the country. A major chunk of the high-rise developments are confined to London and its neighboring areas. Moreover, companies and developers engaged in the construction of public infrastructure or residential and non-residential buildings are focusing on installing elevators and escalators in buildings to provide convenient movement for the aging population.
“Construction companies are focusing on reducing their energy consumption levels, and also plans to achieve green building certifications such as Building Research Establishment Environmental Assessment (BREEAM) and Leadership in Energy and Environmental Design (LEED) for their projects,” says Faisal Ghaus, Vice President of Technavio Research.
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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