The growth in the elevator and escalator industry of Japan can be attributed to the financially stable economy of the country and high investment by the government for the development of public infrastructure.
Japan, although a small country, but is one of the leading and strongest economies in the world. The economy of the country saw negative growth during the global financial crises, but Japan has revived in a very robust manner. The country is one of the leading hubs for technical innovation and research in the world and has one of the best networks of roads, trains and airports across the country. Japan is one of the pioneers and leaders in development of bullet trains. The government has been investing heavily to develop the public infrastructure, not only in major cities but across the country. More than 90% of the country’s population lives in urban areas. The major cities like Tokyo, Osaka, Yokohama and Nagoya have been expanding. People from across the country migrate to cities like this and have been contributing in the increasing demand for public infrastructure, commercial complexes and residential spaces. The real estate sector of the country has also been witnessing positive growth from the past few years. The positive growth in the economy, high investments and development of public infrastructure & real estate sector of have been the key drivers for the elevator and escalators market in the country. All these reasons have collectively catapulted the elevators and escalators market in the past few years.
After the 2011 earthquake, tsunami and the Fukushima Nuclear Accident a substantial portion of the country’s infrastructure, was destroyed and needed maintenance and upgradation. The government has released huge funds for the same and is expanding the public services. Japan has a high life expectancy rate and in recent years the number of children born in the country has decreased. Both these factors have resulted in ageing of population in the country. This is another factor that has affected the elevator and escalator market in a positive manner. The overall elevator and escalator market in the country is highly organized and concentrated and with the takeover of Schindler’s Japanese business by Otis the concentration has even grown further. Other prominent players in the market include; Kone, FujiTec, Mitsubishi, ThyssenKrupp, Hitachi and Toshiba. The market for elevators and escalators has been growing gradually in Japan and is expected to continue the ascent in the future.
The report titled “Japan 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” by Ken Research suggested a growth at a positive CAGR in revenues in Japan elevator and escalator market in the next 5 years till 2022, due high investment in public infrastructure by government, rise in urban population and increasing number of high-rise buildings across the country.
Key Topics Covered in the Report:
Passenger Elevators Market
Material Handling Elevators Market
Japan Escalator Market Size on the Basis of Revenue, 2012-2017
Japan Escalators Market Segmentation on the Basis of Revenue
By Stair Escalators and Moving Walkways
Contract for Installation and Maintenance of an Elevator or Escalator
Safety Rules Issued by the Regulating Authority
Trends and Opportunities in Elevators and Escalators Market
Issues and Challenges in Elevators and Escalators Market
Porter Five Force Analysis in Japan Elevators and Escalators Market
Competitive Landscape of Japan Elevator and Escalator Market
Market Share of the Major Players in Japan Elevator and Escalator Market
Company Profiles of Major Players in Japan Elevators and Escalators Market
For more information on the research report, refer to below link:
Related Reports by Ken Research
Ankur Gupta, Head Marketing & Communications