Market Overview

Elevator and Escalator Market in Australia 2018-2022| Advent of Technologically Advanced Elevators to Drive Growth| Technavio

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Technavio
analysts forecast the elevator and escalator market in Australia to grow
at a CAGR of around 4% during the forecast period, according to
their latest market research report.

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Technavio has published a new market research report on the elevator and escalator market in Austral ...

Technavio has published a new market research report on the elevator and escalator market in Australia from 2018-2022. (Graphic: Business Wire)

The high demand for smart elevators and escalators is one of the major
trends being witnessed in the elevator
and escalator market in Australia 2018-2022
. Smart elevators and
escalators use several different sensors to detect and recognize various
ongoing activities and take actions according to those activities.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to
the growth of the elevator and escalator market in Australia is the
advent of technologically advanced elevators:

Elevator and escalator market in Australia:
Advent of technologically advanced elevators

The growing urbanization and the increased demand for cost-effective
elevators in Australia have encouraged vendors to offer advanced
products in the market. For instance, a major vendor provides image
attentive sensors in its escalators. Apart from this, a rope free
elevator system has also been developed by one of the key vendors.

According to a senior analyst at Technavio for research on construction,
"KONE, a prominent vendor, provides the Ultrarope technology, which uses
light-rope technology through a carbon fiber core and includes a
high-friction coating. The Ultrarope technology allows elevators to
travel up to one kilometer along with features such as less space
consumption, significant cuts in moving mass, and low energy
consumption."

Elevator and escalator market in Australia:
Segmentation analysis

The elevator and escalator market in Australia research report provides
market segmentation by product including elevators and escalators. It
provides an in-depth analysis of the prominent factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

Of the two major products, the elevators segment held the largest market
share in 2017, contributing to over 88% of the market. The market share
of this segment will decrease by nearly 1% by 2022. However, this
product segment will dominate the global market throughout the forecast
period.

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Technavio's sample reports are free of charge and contain multiple
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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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