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Middle East & Africa Elevator & Escalator Market Outlook, 2026

Middle East & Africa Elevator & Escalator Market Outlook, 2026

Bonafide Research 22-03-2021 84 Pages Figures : 14 Tables : 35
Region : MEA Category : Manufacturing & Industry Industrial Automation & Engineering

1. Fujitec Corporation Limited

2. Hitachi Group

3. Hyundai Elevator Corporation Limited

4. Kleemann Hellas

5. Kone Corporation

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Countries that rely on exporting extractives are also likely to be hard-hit by COVID-19, with growth falling by up to seven percentage points in oil-exporting countries and by over eight percentage points in metal exporters. The booming construction industry in the region heralds a good opportunity for companies that manufacture elevator and escalator. As per the finding of the report- Middle East & Africa Elevator & Escalator Market Outlook, 2026 by Bonafide Research, the region held to a share of 10.02% in the global market in the year 2015, valuing to USD 6.84 Billion. The region continues to rely on imported components to meet market demand, with some local lift companies identifying hurdles on the road to developing the manufacturing capacity of domestic small- and medium-sized enterprises. The market is expected to grow at an anticipated rate of over 7%, through the forecasted period.

The increasing number of tourists has been playing a major role in the construction of new infrastructure, with a high share of the elevator market of over 60%, which exhibits a decline in the market share. The upcoming projects, as well as the ongoing projects of infrastructure construction as commercial centers like malls, hotels, etc. and non-commercial residences, are the major driving factor for the market. This had allowed the escalator market to reach a market value of USD 2.28 Billion in the year 2020. However, through the forecasted period, the moving walkway segment is expected to show the highest CAGR of over 8%.

The new installation segment, valued at USD 3.15 Billion in 2015, is the key revenue generator in the overall Middle East & Africa elevators and escalators market as urbanization and infrastructural development continue to play an important role in the region. Major hotel chains are expanding their presence across several countries and large-scale government infrastructure development projects, such as airport expansions, metro expansions, and development of other social infrastructure, are strengthening the maintenance & repair segment to a share of 3.84% in 2020.

Demand for components is expected to keep rising in Africa as widening regional trade and economic integration, rapid urbanization and a growing middle class drives the expansion of the residential end user segment, reaching over USD 4 Billion in the year 2020. Fuelled by greater investment in commercial, residential, and hotel development, new installations, along with related maintenance, are expected to grow, increasing the region's appetite for imported lift components. The residential end user segment is expected to witness a growth of over 6.28% CAGR in the period 2021-26, reportedly the lowest among the end user segment.

By value, the Middle East & Africa region is dominated by Saudi Arabia, which held a share of 15.58% in 2015. The booming construction sector, the increasing number of high-rise building projects, and rapid infrastructure development are the key factors driving Saudi Arabia. UAE elevator and escalator market are anticipated to record substantial growth on the back of increasing non-oil sector contribution in the GDP, improving economic conditions of the country, implementation of strict localization targets and value added tax. The Northern region of UAE, which includes emirates such as Dubai and Sharjah, captured the highest market share, while the Southern region including Abu Dhabi is expected to witness significant growth over the coming years. Major players operating in Saudi Arabia elevator & escalator market include Otis Elevator Company Saudi Arabia Ltd., Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Ltd., Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia, among others.

CONSIDERED IN THE REPORT
• Geography: Middle East & Africa
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026

REGIONS COVERED:
• Middle East & Africa
• Saudi Arabia
• Qatar
• UAE
• South Africa

ASPECTS COVERED IN THE REPORT
• Market Size By Value for the time period (2015-2026F)
• Market Share by Type (Elevator, Escalator & Moving Walkways)
• Market Share by Service (New Installation, Maintenance & Repair, Modernization )
• Market Share by End Users (Residential, Commercial & Others)
• Market Share by Country
• Market Share by Company

This report would help you answer the following questions:
1. What is the market size and forecast of the Middle East & Africa Elevator & Escalator Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Middle East & Africa Elevator & Escalator Market during the forecast period?
3. Which region outstands in the Middle East & Africa Elevator & Escalator Market?
4. Which are the segments to invest in over the forecast period in the Middle East & Africa Elevator & Escalator Market?
5. What is the competitive strategic window for opportunities in the Middle East & Africa Elevator & Escalator Market?
6. What are the technology trends and regulatory frameworks in the Middle East & Africa Elevator & Escalator Market?
7. What are the major company in the Middle East & Africa Elevator & Escalator Market?


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