As per current published report by Markntel Advisors the Saudi Arabia Elevator & Escalator Market is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30.
A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the global market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.
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Saudi Arabia Elevator & Escalator Market Driver:
Mushrooming Growth of the Healthcare Sector in Saudi Arabia – The extensive boom in healthcare infrastructure projects in the country, facilitated by public & private investments served as a prominent factor driving the demand for elevators and escalators in Saudi Arabia. According to Trade.gov, Saudi Arabia represents around 60% of the GCC nations’ healthcare spending, and the country’s government continues to place a high focus on the industry. The investments are dominantly made to attract both domestic and foreign patients, thereby fostering medical tourism from countries like the US and Canada.
Moreover, the Saudi government’s ambitious investment plan of around USD 66 billion to bolster the healthcare industry by 2030 would further propel construction activities in this sector. As a result, the burgeoning healthcare sector, supported by both public-private partnerships and government investments, is set to drive the demand for elevators and escalators in Saudi Arabia for improved building infrastructure in the foreseeable future.
The Saudi Arabia Elevator & Escalator Market has segmented the market into the following categories:
-By Type
-Elevator- Market Size & Forecast 2019-2030, (Thousand Tons)
-Escalator- Market Size & Forecast 2019-2030, (Thousand Tons)
-By Service
-New Installation- Market Size & Forecast 2019-2030, (Thousand Tons)
-Modernization- Market Size & Forecast 2019-2030, (Thousand Tons)
-Maintenance- Market Size & Forecast 2019-2030, (Thousand Tons)
-By End User
-Residential- Market Size & Forecast 2019-2030, (Thousand Tons)
-Commercial- Market Size & Forecast 2019-2030, (Thousand Tons)
-Retail- Market Size & Forecast 2019-2030, (Thousand Tons)
-Healthcare- Market Size & Forecast 2019-2030, (Thousand Tons)
-Hospitality- Market Size & Forecast 2019-2030, (Thousand Tons)
-Government & Transportation- Market Size & Forecast 2019-2030, (Thousand Tons)
-Others- Market Size & Forecast 2019-2030, (Thousand Tons)
-Industrial- Market Size & Forecast 2019-2030, (Thousand Tons)
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-By Region
-East
-West
-South
-Central
Competitive Environment Featuring Key Players:
-Thyssenkrupp Elevator Saudi Arabia
-Otis Elevator Company Saudi Arabia Limited
-Hyundai Elevator
-Toshiba Elevator and Building Systems Corporation
-Hitachi Elevator
-Kone Middle East LLC
-Fujitec Saudi Arabia Co. Ltd.
-Schindler Olayan Elevator Co. Ltd.
-Mitsubishi Electric Saudi Ltd.
-Gulf Elevators and Escalators Co.
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-The present and projected market outlook in light of recent changes, which include growth prospects and drivers as well as obstacles and constraints in both developed and emerging regions
-Using Porter’s Five Forces approach, provides a thorough examination of the market from a variety of angles.
-Uses the value chain to offer market intelligence.
-The state of the market dynamics and potential for future market expansion
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