DUBLIN--(BUSINESS WIRE)--The "Australia Escalators and Elevators Market, By Type (Elevator, Escalator & Moving Walkways), By Service, By Elevator Technology, By Type of Elevator Door, By End User, By Region, Competition, Forecast & Opportunities, 2016-2026F" report has been added to ResearchAndMarkets.com's offering.
The Australian Escalators and Elevators Market is expected to reach USD 1598.74 million by 2026 and is forecast to grow at a CAGR of over 4.95% until 2026.
Growth in the Australian Escalators and Elevators Market is driven by their widespread usage in residential commercial and industrial areas, including shopping malls, railway and metro stations, hotels, airports, public buildings, high-rise apartments, etc.
In addition to this, increase in construction activities and high-class infrastructure have increased the demand for escalators and elevators in Australia. The market has been primarily influenced by rapid urbanization, substantial evolution of architecture, increased government initiatives in construction sector and updated government standards for smart infrastructure.
Based on type, the market can be segmented into Elevator, Escalator and Moving Walkways. The Elevator Segment dominated the market in 2020 due to the low cost of these elevators and their design with beautiful interior decoration and comprehensive safety measures.
Based on Service, the market is split into New Installation, Maintenance and Repair & Modernization. The Maintenance & Repair segment dominated the Australian Escalators and Elevators Market in 2020 as the cost of repair for an equipment is comparatively less than the value of that equipment.
Based on Type of Elevator Door, the Australian Escalators and Elevators Market can be segmented into Automatic and Manual. The Automatic segment is expected to lead the market as these elevators and escalators are carefully designed to ensure safety and are an easy access to everyone and are not restricted by installation site and space. Moreover, they are suitable for installation in indoor and outdoor, offices, buildings, stores, exhibition halls and various other places.
Based on End-User, the market can be segmented into residential, commercial, infrastructural, institutional. The residential segment is expected to lead the market due to increasing modernization and surge in infrastructure projects. Based on Elevator Technology, the market can be segmented into Traction, Machine Room-Less Traction and Hydraulic.
Out of these, the traction segment precedes the market as the traction elevators are used as a counterbalance to compensate the weight of the cab and occupants. With this design, the motor does not have to move as much weight, making it much more energy efficient than hydraulic systems.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021E
- Forecast Period: 2022F-2026F
Australia Escalators and Elevators Market, By Type:
- Elevator
- Escalator
- Moving Walkways
Australia Escalators and Elevators Market, By Service:
- Maintenance & Repair
- New Installation
- Modernization
Australia Escalators and Elevators Market, By Elevator Technology:
- Traction
- Hydraulic
- Machine Room-Less Traction
Australia Escalators and Elevators Market, By Type of Elevator Door:
- Automatic
- Manual
Australia Escalators and Elevators Market, By End-User:
- Residential
- Commercial
- Infrastructural
- Institutional
- Others
Australia Escalators and Elevators Market, By Region:
- New South Wales
- Victoria
- Queensland
- Western Australia
- South Australia
- Tasmania
- Northern Territory
Competitive Landscape:
Company Profiles: Detailed analysis of the major companies present in the Australian Escalators and Elevators Market.
- Kone Elevators Pty Limited
- Schindler Lifts Australia Pty Limited
- TK Elevator Australia Pty Ltd
- Otis Elevator Company Pty Ltd
- Hitachi Australia Pty Ltd
- Brilliant Lifts Australia Pty Ltd
- Shotton Lifts Pty Ltd
- Fuji Elevators Australia Pty Ltd
- Orbitz Elevators Pty Ltd
- IFE Elevators (Australia) Pty Ltd
For more information about this report visit https://www.researchandmarkets.com/r/q85ng6
