World Elevators: Global demand to exceed billion in 2019

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World Elevators Global demand to exceed
billion in 2019
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Summary
Global demand for elevator equipment (including
elevators, escalators, moving walkways, and
associated parts) and services is forecast to
reach 121 billion in 2019, on advances of 5.9
percent per annum. The large Asia/Pacific market
will account for more than 70 percent of the
growth in demand.
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China India to be top national
markets Through 2019, the developing countries
of the Asia/Pacific region will continue to
exhibit the strongest demand growth. Although
increases in the Chinese elevator market, the
worlds largest, will decelerate substantially
after a decade of explosive growth, elevator
demand will grow nearly 10 percent per annum to
42 billion. Elevator demand in India will
register robust advances of 16 percent annually,
driven by strong growth in the countrys urban
population and rising average incomes. The
developed markets of North America and Europe
will exhibit slower growth in elevator demand.
While demand for new units in these regions is
expected to continue to recover from low 2009
levels, growth in demand for elevator parts and
services is expected to be slower than the global
average. This is because the market will remain
concentrated in maintaining existing units and
modernizing older units, not the installation of
new equipment, in spite of the uptick in new unit
demand.
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MRL elevators will continue to gain market
share Through the forecast period, there will be
an emphasis on new or improved technologies that
conserve space or energy in new elevators,
escalators, and moving walkways, driven by
developers desires to make buildings more
profitable by saving on energy spending and
raising usable floor space. These include
computerized destination dispatch systems,
technologies that reduce the space consumed by
elevator shafts in tall buildings, and elevator,
escalator, and moving walkway systems that adjust
operation for high and low traffic periods. Space
and energy saving machine room-less (MRL)
elevators will continue to increase their
penetration of the global market and will
dominate the market in the ensuing years.
Although elevator services demand has
historically made up a larger share of the global
market, equipment demand exceeded services in
2014 and is expected to continue to do so through
the forecast period due to robust new equipment
demand in developing markets.
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Manufacturing activity to follow
markets Elevator equipment production was
historically concentrated in Western Europe, but
manufacturing activity in developing markets,
where the majority of new equipment is installed,
has posted rapid expansion in recent years.
China in particular has exhibited robust growth
in its elevator equipment manufacturing capacity
and accounted for nearly half of global
production in 2014.
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Study coverage Details on these and other key
findings are available in the upcoming industry
study, World Elevators, priced at 6400. It
presents historical demand data (2004, 2009,
2014) plus forecasts (2019, 2024) for elevator
supply and demand, demand by type and service, as
well as passenger/freight elevator demand, in 6
regions and 20 countries worldwide. The study
also considers market environment factors,
examines the industry structure, evaluates
company market share and profiles 40 participants
in the global elevator industry.
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Table of Contents
MARKET ENVIRONMENT General World Economic
Overview Recent Historical Trends World Economic
Outlook World Demographic Overview Population Urba
n Population Per Capita Gross Domestic
Product World Building Construction Outlook
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To view the full Executive Summary and Table
of Contents, please visit World Elevators
Global demand to exceed billion in 2019
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