Italy Elevators and Escalators Market Volume

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Italy Elevators and Escalators Market Volume
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The growth in the elevator and escalator industry
of Italy can be attributed to the demand of new
installation from the residential real estate
market and maintenance and modernization of the
already existing equipments. Italys economy
suffered a major setback during the global
financial crises. However, the country has been
back on the path of growth since 2014. There has
been positive growth in the GDP and new
investments are being done into various projects
across the country. Owing to the changes in
economic and institutional policies by the
government there has been a revival of the real
estate sector. The country is gradually becoming
an important market for foreign investors. Italy
is one of the largest markets for elevators and
escalators in Europe. The elevator and escalator
industry has flourished on the back of the
residential real estate market. A major portion
of the revenue of the elevator and escalator
market is also generated by the installation and
maintenance of equipments in public
infrastructure facilities and various public
offices, schools and municipalities.
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In terms of technology, traction lifts dominate
the market, however the demand for hydraulic
lifts is growing. With around 69 of the
countrys population living in urban areas which
is continuously increasing, the demand for new
installations has kept the industry afloat during
the financial crises. Growth in the Tourism
sector has led to building up of new hotels and
retail spaces across the country, which has
further supported the elevator and escalator
market.
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The elevator and escalator market in the country
is dominated by the presence of the global
leaders like Otis, Schindler, ThyssenKrupp and
Kone. Major share of the market is captured
essentially by these players. However, there are
a number of smaller players also present that are
also making growth. These players specially focus
on the residential real estate market and
providing design and manufacturing services for
private elevators. The demand for customized
designs and installation has grown over the years
and has introduces a healthy competition in the
market.
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The report titled Italy Elevators and Escalators
Market by New Equipment Installation
Maintenance Modernization, by Elevator (by End
Usage, by Type of Machinery, by Door Types and by
Sector) and by Escalator (by End Usage and by
Escalators and Moving Walkways) - Outlook to
2022 by Ken Research suggested a growth at a
positive CAGR in revenues in Italy elevator and
escalator market in the next 5 years till 2022,
owing to the growth of residential real estate
sector, rise in urban population and
technological innovations in the industry.
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For more information on the research report,
refer to below link https//www.kenresearch.com/m
anufacturing-and-construction/machinery-and-parts/
italy-elevators-escalators-industry-research-repor
t/143001-97.html    Related Reports by Ken
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