Elevator and Escalator Services Market in GCC Countries to grow by USD 765.96 million|Technavio

NEW YORK, June 23, 2021 /PRNewswire/ —
The global elevator and escalator services market…

NEW YORK, June 23, 2021 /PRNewswire/ —

The global elevator and escalator services market in GCC countries is expected to grow by USD 765.96 million, according to the new report from Technavio. The report projects the market to accelerate at a CAGR of almost 7% during 2021-2025.

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Read the 120-page report with TOC on «Elevator and Escalator Services Market in GCC Countries Analysis Report by Product (Elevators and Escalators) and Geography (Saudi Arabia, Qatar, UAE, Bahrain, and ROW), and the Segment Forecasts,2021-2025″. Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions.

The elevator and escalator services market in GCC countries is driven by the increasing demand for smart elevators. In addition, the growing trend of smart cities is anticipated to boost the growth of the Elevator and Escalator Services Market in GCC Countries.

Smart elevators are developed to design energy-efficient elevators, which can minimize the wait and travel times. It facilitates security, such as biometrics, touchscreens, access control, and destination dispatch systems. The advantages of a smart elevator include better control of elevator traffic, enhanced energy efficiency, reduced wait times, and integrated access control features. Smart elevators are also capable of distinguishing employees of a particular company based on their IDs and directing them to the correct elevator. Smart elevators have witnessed an exponential rise in popularity because of their advantages. The rapidly growing popularity of smart elevators is expected to drive the growth of the global elevator and escalator services market in GCC.

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Major Five Elevator and Escalator Services in GCC Countries Companies:

Alfa Elevators

Alfa Elevators offers elevator and escalator services like Elevator Supply, Elevator installation, Modernization/Renovation, and Elevator Maintenance.

Elco Ltd.

Elco Ltd. offers an elevator and escalator under the brand name Electra.

Fujitec Co. Ltd.

Fujitec Co. Ltd. offers elevators and escalators under the brand names Zexia, Rexia, and other brands.

G.I.TECH Lifts & Escalators LLC

G.I.TECH Lifts & Escalators LLC offers various types of home elevators, scissor elevators, and escalators for different purposes.

Hitachi Ltd.

Hitachi Ltd. offers an elevator and escalator under the brand names UAG-SN1, OUG-ON1, and other brands.

Elevator And Escalator Services Market In GCC Countries Product Outlook (Revenue, USD million, 2020-2025)

  • Elevators – size and forecast 2020-2025
  • Escalators – size and forecast 2020-2025

Elevator And Escalator Services Market In GCC Countries Geography Outlook (Revenue, USD million, 2020-2025)

  • Saudi Arabia – size and forecast 2020-2025
  • Qatar – size and forecast 2020-2025
  • UAE – size and forecast 2020-2025
  • Bahrain – size and forecast 2020-2025
  • ROW – size and forecast 2020-2025

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