London, 05 Oct 2015 – Technavio has published a new report on the strategic assessment of the elevators and escalators market in China, which is expected to grow at a CAGR of over 14% from 2015-2019.
About the Report
The new report by Technavio highlights the increasing population of China, which is influencing rapid urbanization in the inland areas, apart from the urban areas. The construction of advanced infrastructure facilities such as mass rapid transit systems and the modernization of airports are expected to increase.
“The growing urban population will necessitate the construction of modern residential, non-residential, and commercial projects, which will uplift the demand for elevators and escalators in China,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the adoption of green elevators and escalators, whereby vendors are increasing their R&D for the development of energy-efficient equipment.
“Companies like Hitachi and Otis Elevator Investment are developing energy-efficient systems to ensure energy-saving requirements with regard to both function and design,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the strategic assessment of the elevators and escalators market in China from 2015-2019. To calculate market size, Technavio considers revenue generated from the installation of new units, and from the maintenance and modernization of existing elevators and escalators in China.
Key Information Covered in the Report:
Key Vendors:
- KONE China
- Otis Elevator (China) Investment
- Schindler China
- ThysennKrupp Elevators & Escalators
Market Growth Drivers:
- Government initiatives in construction sector
- For a full detailed list, view our report.
Market Challenges:
- High installation cost
- For a full detailed list, view our report.
Market Trends:
- Growth of domestic vendors
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
