Italy 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, Axel Lifts, Daldoss and Elex Lifts) 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 Italy has been supported by the gradually stabilizing economy of the country and revenue generated from the maintenance and modernization of existing equipments.
- The strong growth of the real estate sector along with the increase in demand for energy efficient elevators and escalators will lead the growth of the Italian elevators and escalators market in the upcoming years.
The Italian economy is gradually reviving from the financial crises of 2008. The country has witnessed positive growth in its GDP since 2014 and is increasing steadily every year. There has been a positive outlook towards business in the country. Change in economic and institutional policies have encouraged more investment into the Italian market. With the stabilization of the economy the spending for the public infrastructure by the government is also likely to increase. This will provide a boost to the elevator and escalator market. The residential real estate sector of the country is also expected to significantly grow as there is high demand for residential properties in the country. The companies with expertise in designing and manufacturing elevators are likely to have a significant growth in the future. The industry is also expected to generate a significant amount of its revenue from the maintenance and modernization of elevators and escalators in public infrastructure facilities, schools, hospitals, public offices and commercial spaces.
Energy efficient elevators and escalators is the new concept in the industry and is gaining popularity among architects and builders. For optimum operation and to have a minimum carbon footprint designers and architects are designing buildings and complexes that use the minimum energy. Various advancements in the elevator and escalator technology have brought significant changes in the design and efficiency of machines and equipments used. The Italian market is likely to expand on the back of the growing residential real estate market, development of commercial spaces and the expected increase in government’s spending on public infrastructure.
Ken Research in its latest study, Italy 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 Italy will grow at a gradual rate owing to the introduction of new technology and growth in the residential real estate sector.
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