Qatar Elevator & Escalator Market Overview, 2027

Qatar Elevator & Escalator Market Overview, 2027

Bonafide Research 01-08-2022 59 Pages Figures : 8 Tables : 17
Country : Qatar Category : Manufacturing & Industry Industrial Automation & Engineering

"The country's demand for lifts and escalators has been driven by construction and infrastructure development initiatives in Qatar. There is a strong need for vertical transportation systems as a result of Qatar's significant investments in a number of industries, including real estate, hotel, transportation, and commercial infrastructure. Qatar has been focusing on developing its infrastructure in preparation for major events such as the 2022 FIFA World Cup. Construction projects related to stadiums, hotels, airports, and transportation systems have contributed to the market's growth. The Qatari government has implemented initiatives to encourage sustainable and accessible infrastructure. Elevators and escalators play a crucial role in ensuring accessibility for individuals with disabilities, which has led to increased demand for advanced and inclusive vertical transportation systems. The elevator and escalator industry in Qatar has witnessed advancements in technology and innovation. Companies are introducing smart and energy-efficient solutions, incorporating features like destination control systems, predictive maintenance, and energy-saving technologies. The elevator and escalator market in Qatar is competitive, with both domestic and international players operating in the country. Some of the major companies in the market include Otis Elevator Company, KONE Corporation, Schindler Group, and Mitsubishi Electric Corporation. According to the report titled ""Qatar Elevator and Escalator market overview 2027"" published by Bonafide Research, the market size of Qatar Elevator and Escalator market is increasing enormously in the forecasted period from 2022 to 2027. Qatar has witnessed a boom in skyscraper construction, particularly in Doha. The demand for elevators and escalators has surged due to the construction of tall buildings, including iconic structures such as the Tornado Tower, Burj Qatar, and Aspire Tower. Qatar has been emphasizing sustainability in its construction projects. The elevator and escalator market has seen a rise in the adoption of eco-friendly technologies, energy-efficient systems, and regenerative drives, reducing the environmental impact of vertical transportation. Qatar has stringent safety regulations and standards for elevators and escalators. The Qatari government enforces regular inspections and maintenance checks to ensure the safety and reliability of these systems, aiming to protect public welfare. Qatar has been investing in modernizing existing infrastructure, including upgrading and retrofitting older elevators and escalators. This trend has created opportunities for companies specializing in modernization services and technologies. The demand for smart elevators and escalators equipped with advanced features has been on the rise in Qatar. These systems incorporate technologies such as touchless controls, destination dispatch systems, and IoT integration, enhancing user experience and efficiency. Qatar has made efforts to enhance accessibility for all individuals, including those with disabilities. The elevator and escalator market has responded by introducing inclusive designs, such as wheelchair-friendly features, Braille signage, and audible announcements. With the growing number of elevators and escalators in Qatar, there is an increased demand for maintenance and servicing. This has led to the expansion of maintenance service providers, ensuring the smooth operation and longevity of these systems. Elevator and escalator manufacturers are focused on enhancing aftermarket services for clients, which is projected to drive the growth of the Qatar elevator and escalator maintenance and repair market. During the projection period, the Qatar elevator and escalator maintenance and repair service market would benefit from the development of smart cities and technical developments in new elevators, such as the integration of circuit boards and new controllers. Elevator and escalator modernization can boost performance, making them more efficient and dependable. It also helps to reduce maintenance costs because all of the old parts are replaced with new, modern parts that will keep the elevator and escalator running well for a long time. One of the most essential reasons for elevator and escalator modernization is to improve safety to meet current requirements. The cost of elevator and escalator modernization will be worth it in the end since it will be able to strengthen the safety requirements. The elevator and escalator modernization market is expected to develop significantly during the forecast period, owing to an increase in elevator and escalator safety concerns in high-rise buildings and the introduction of new technologies into the Qatar industry. The Internet of Things (IoT) is a technology that has the potential to transform commercial real estate. COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in Qatar due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of Qatar prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: Qatar • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Qatar Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Based on By Types: • Elevator • Escalators • Moving Walkways Based on By Services: • New installation • Maintenance and repair • Modernization Based on by End use types: • Residential • Commercial • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Please get in touch with our sales team to find out more. "

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