New Installations Segment to Witness Growth in Australia Escalators & Elevators Market until 2024

Increasing number of metros, railways and airports coupled with other infrastructure projects to drive Australia escalators & elevators market through 2024

According to TechSci Research report, “Australia Escalators & Elevators Market By Service, By Elevator Technology, By Type of Door, By Weight, By End User, By Region, By Company, Competition, Forecast & Opportunities, 2024”, Australia escalators & elevators market is anticipated to witness significant growth during forecast period on account of growing urbanization and surging demand for cost-effective elevators across the country. With increasing population, the demand for well-structured buildings is also increasing, which is further driving Australia escalators & elevators market. Moreover, increasing investment by the government of the country and increasing inflow of FDI in construction and retail sectors are anticipated to drive growth in the market during forecast period.

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Australia escalators & elevators market can be segmented based on service, elevator technology, type of door, weight, end user and region. On the basis of service, the market can be segmented into maintenance & repair, new installation and modernization. New installations segment is predicted to witness growth over the next five years due to the installation of escalators and elevators in upcoming buildings. In terms of end user, residential segment is one of the major segments in Australia escalators and elevators market and is poised to grow at an impressive rate until 2024 as well, owing to the rising demand for elevators in residential properties.

Kone Elevators Pty. Limited, Schindler Lifts Australia Pty Limited, ThyssenKrupp Industrial Solutions (Australia) Pty. Ltd, United Technologies Australia Holdings Ltd, Mitsubishi Electric Australia Pty Limited, Hitachi Australia Pty Ltd, Fuji Elevators Australia Pty. Ltd., Brilliant Lifts Australia Pty Ltd, Orbitz Elevators Pty Ltd, Shotton Lifts, among others are the leading players operating in Australia escalators & elevators market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, Schindler introduced PORT technology in order to offer personalized experience and for faster travel.

“Australia escalators and elevators market is anticipated to grow at formidable rate during the forecast period on account of several ongoing and upcoming infrastructure projects in the country backed by the increasing disposable income and surging spending by the government on infrastructure development. Moreover, increasing number of metros, railway stations and airports is further pushing demand for escalators and elevators across Australia.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Australia Escalators & Elevators Market By Service, By Elevator Technology, By Type of Door, By Weight, By End User, By Region, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Australia escalators & elevators market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia escalators & elevators market.

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