Germany elevators and escalators market size, market segmentations by new equipment installation & maintenance & modernization, by elevator (by end usage (passenger elevator market and material handling market), by type of machinery (traction (gear & gearless) & hydraulic (conventional hydraulic & roped) and MR & MRL), by door types and by sector (commercial complexes and residential complexes)) and by escalator (by end usage and by escalators & moving walkways). The report also covers market in different aspects such as trends and developments, issues and challenges, Porter Five Force analysis, contract for installation and maintenance of an elevator or escalator, safety rules issued by regulating authority, market share of major companies, company profiles of major players (Kone, Otis, Schindler, ThyssenKrupp and Schmitt + Sohn) in elevators and escalators market. The report provides detailed overview on future outlook & projections with analyst recommendations for the industry.
- Elevators and Escalators market in Germany has been supported by the stable financial economy of the country and maintenance and modernization of existing equipments.
- The strong growth of the real estate sector along with technological innovations in the machinery used will lead the growth of the German elevators and escalators market in the upcoming years.
The German economy has strongly revived from the global economic crises of 2008. Although, the current growth rate is less in comparison to the pre-crises growth, however, the swift revival and strong future prospects have brought a positive outlook towards growth. The country is financially stable and investment into public infrastructure and real estate is likely to increase. The elevator and escalator market is expected to grow on the back of positive growth in the economy and strong investments into the public infrastructure and real estate sector of the country. The commercial real estate sector of the country is expected to significantly grow as there is high demand for retail spaces. The rent for retail spaces is high and is continuously rising, which has attracted more investors towards it. The sector has witnessed a substantial rise in investment and the trend is likely to continue in the future. The growth of the tourism industry has also led to building up of new hotels and augmented the demand for new installations in the elevators and escalators market. The residential real estate market is propelled by the low unemployment and availability of financing services in the country. The demand for residential properties has grown from the past few years and the trend is likely to continue in the future. All these factors collectively are expected to foster growth into the elevators and escalators market in Germany.
The companies operating in the elevators and escalators market in Germany are also continuously innovating and introducing new technology and designs for their products. Energy efficient equipments are the new demand in the industry. With the growing trend for green buildings the architects and builders are demanding for elevators and escalators that consume as less energy as possible. This has propelled the industry towards research and development of new innovative machines and equipments which consume less energy. Companies are working on introducing advanced material for ropes used in elevators which will substantially reduce the energy used. Demand for designs that are compact, compliment the architecture of the building and can be customized is likely to increase in the future. The demand for energy efficient equipments and innovative designs will act as a catalyst in the growth of the elevator and escalator market in Germany.
Ken Research in its latest study, Germany Elevators and Escalators Market by New Equipment Installation & Maintenance & Modernization, by Elevator (by End Usage, by Type of Machinery, by Door Types and by Sector) and by Escalator (by End Usage and by Escalators and Moving Walkways) – Outlook to 2022, suggests that the elevator and escalator market in the Germany will grow at a gradual rate owing to the substantial growth in the real estate sector along with introduction of innovative technology.
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