Dublin, April 14, 2023 (GLOBE NEWSWIRE) -- The "Africa Elevator And Escalator Market" report has been added to ResearchAndMarkets.com's offering.
Africa Elevator and Escalator market size is projected to grow at a CAGR of 8.5% during 2022-2028.
Africa Elevator and Escalator Market report comprehensively covers the market by types, by applications, by services, by countries. Africa Elevator and Escalator market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Elevator and Escalator Market Synopsis
Africa Elevator and Escalator market is anticipated to grow significantly on the back of investment in infrastructure projects coupled with rise in residential and housing projects. Additionally, the rise in number of hotel chain pipelines would also increase the elevator and escalator market in Africa region.
the demand for elevators and escalators in Africa saw a sharp decline owing to the pandemic during the year 2020 as economic activities were suspended to curb the effect of the pandemic. Moreover, supply chain also got hampered thereby, further declining the demand and the revenues of elevators and escalators in Africa.
However, investment in infrastructure by African nations along with increasing number of hotel chains in the pipeline in Africa coupled with the growing number of skyscrapers such as Iconic Tower in Egypt, 88 Nairobi in Kenya would act as major driver for growth of elevator and escalator in Africa.
Moreover, growing residential sector and housing projects such as "Cornubia housing project" in South Africa, "Affordable Housing Project" by Kenyan government would also act as a catalyst in growth of elevator and escalator market in Africa.
Market by Types
Elevators acquired the maximum revenue share by types, in Africa elevator and escalator market owing to their extensive usage in commercial, residential and industrial spaces. Elevators usually acquire less space in comparison to escalators hence further augmenting their growth.
The increasing number of hotel projects such Premier Hotel Building in South Africa, Rotana Hotel in Tanzania would help the elevator market to grow. Additionally, offices and residential space in African countries would also expand the market for elevators in the years ahead.
Market by Applications
Commercial sector acquired the maximum revenue share in Africa elevator and escalator market on the back of growing hospitality sector. Moreover, the establishment of 300 hotel projects in the coming years would further grow the market of commercial sector.
In South Africa elevator and escalator market, by service types, new installation is expected to dominate the market in terms of revenue on account of upcoming projects in the country such as Durban Tower, Modderfontein New City that would require the installation of multiple elevator and escalators.
Key Highlights of the Report
- Historical data & forecast of Africa Elevator and Escalator Market Revenues for the Period 2018-2028F
- Historical data & Forecast of South Africa Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of South Africa Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Egypt Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Egypt Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Kenya Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Kenya Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Nigeria Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Nigeria Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Ghana Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Ghana Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Tanzania Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Tanzania Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Algeria Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Algeria Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Morocco Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
- Historical data & Forecast of Morocco Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
- Historical data & Forecast of Rest of the Africa Region Elevator and Escalator Market Revenues for the Period 2018-2028F
- Market Drivers, Restraints and Trends
- Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Market Player's Revenue Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Companies Mentioned
- Otis Elevator Co.
- Schindler Holding Ltd.
- KONE Corporation
- Mitsubishi Electric Corporation
- Thyssenkrupp AG
- Hyundai Elevator Co. Ltd.
- Kleemann Hellas S.A
- Omega Elevators
- Fujitech Co. Ltd.
- Hitachi Ltd.
- EGGEEC (FUJI)
Market Scope and Segmentation
By Power Rating
- Elevator
- Passenger
- Home
- Cargo
- Elevator
- Passenger
- Home
- Cargo
By Applications
- Commercial
- Residential
- Industrial
By Services
- New Installation
- Modernisation
- Maintenance
By Countries
- South Africa
- Egypt
- Nigeria
- Algeria
- Morocco
- Kenya
- Tanzania
- Ghana
- Ethiopia
- Rest of Africa
For more information about this report visit https://www.researchandmarkets.com/r/fd2hzc
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