Elevator and Escalator Services Market in GCC 2019-2023 Featuring Key Players - AG MELCO Elevator, Hitachi, KONE, Otis, and Schindler - ResearchAndMarkets.com

The "Elevator and Escalator Services Market in GCC 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The analysts have predicted that the elevator and escalator market in GCC will register a CAGR of over 7% by 2023.

Owing to the increasing adoption of IoT platform for conducting elevator maintenance, the elevator and escalator market in GCC is likely to gain traction in the forthcoming years. The integration of IoT will allow reduced downtime and improved service efficiency.

Market Overview

Growing popularity of smart cities

With the growing population and uncontrolled urbanization, various authorities in the region are focusing on adopting the smart city model for offering adequate delivery of basic amenities to the citizens. Such rising trend of developing smart cities will drive the market's growth during the forecast period.

Stringent safety regulations for elevators and escalators

Using elevators and escalators may often lead to fatal accidents if not used properly. These accidents may further pose threat to the personnel engaged in their maintenance and service. As a result, such stringent safety regulations for elevators and escalators may pose a threat to the market's growth during the forecast period.

Competitive Landscape

The elevator and escalator market is fragmented with players focusing on integrating advanced technologies such as IoT to offer products catering to the latest trend of smart city development. The report offers comprehensive analysis of the strategies the companies are adopting, in turn, helping the clients to gain a competitive advantage over other counterparts.

The report recognizes the following companies as the key players in the elevator and escalator market in GCC: AG MELCO Elevator, Hitachi, KONE, Otis Elevator, and Schindler.

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Market Landscape

Part 04: Market Sizing

Part 05: Five Forces Analysis

Part 06: Market Segmentation By Product

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers And Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

• AG MELCO Elevator
• Hitachi
• KONE
• Otis Elevator
• Schindler
  

For more information about this report visit https://www.researchandmarkets.com/research/mcz9xl/elevator_and?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20181214005333/en/