- The key vendors in the elevators and escalators market in Germany 2015-2019 are KONE Germany, Otis Germany, Schindler Germany and ThyssenKrupp.
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 Germany 2015-2019. The elevator market in Germany captures a major share of the overall elevator and escalator market. Elevators provide a faster and convenient method of transportation. With an increase in the construction of high-rise buildings in Germany, the demand for elevators will be much higher than that of escalators, which will lead to an increase in the market share of elevators. The elevator and escalator market in Germany is expected to grow at a CAGR of 6.98% during 2014-2019.
Construction companies are focusing on vertical growth to avoid congestion in major cities such as Frankfurt. Moreover, the development of the job market in the country is also driving the growth of the construction market. Elevators are an important aspect of the designing and structuring of these buildings.
“German elevator manufacturers have started preferring gearless elevators. On average, a geared elevator consumes 5%-10% of the total energy supplied to a building,” says Faisal Ghaus, Vice President of Technavio Research.
“The capacity of these lifts is less. Moreover, these elevators are more energy efficient as they do not require a motor system that consumes electricity.”
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.