London, 14 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the elevators and escalators market in Brazil 2015-2019, which is expected to grow at a CAGR of 9.15% during the forecast period of 2014-2019.
Growth in the construction market is expected to directly influence the prospects for growth in this market. The elderly people account for approximately 20% of Brazil’s total population and these people prefer using elevators for vertical transportation within a building. This growing preference for using elevators is expected to positively influence the market for elevators and escalators in Brazil. Also, the government’s plan to accelerate funding in the construction market will augment growth in the market for elevators and escalators.
“The elevator market has gradually evolved over the past decade, leading to the development of products such as gearless elevators. According to market leaders, gearless elevators are the future. Technavio believes that geared machines will become obsolete over the next decade,” says Faisal Ghaus, Vice President of Technavio.
“Schindler uses suspension traction media (STM) to replace conventional cables, which reduces the probability of accidents due to cable breakage.”
Key Market Drivers:
- 2016 Summer Olympics
- Stable financing schemes for infrastructure development
- Steady growth of elevator and escalator maintenance business
Key Market Trends:
- Growth in energy-efficient elevators and escalators
- Increase in manufacture of gearless elevators
- Increase in R&D
Key Market Vendors:
- Elevadores Atlas Schindler
- Otis
- Melco Elevators
- ThyssenKrupp Elevadores
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
