Elevator and Escalator Market in Australia to grow at a CAGR of 3.78% during the period 2017 - 2021; Finds New Report

Report forecast the elevator and escalator market in Australia to grow at a CAGR of 3.78% during the period 2017-2021.

The elevator and escalator market in Australia can be broadly classified into elevators and escalators. The elevator and escalator market in Australia has been growing at a moderate rate. The elevators are the most commonly used form of vertical transportation devices. Faster speeds and lesser space requirement than a conventional escalator is the primary reason for the high popularity of elevators. A single elevator can cater to multiple floors. However, they have limited capacity compared with an escalator.

The report covers the present scenario and the growth prospects of the elevator and escalator market in Australia for 2017-2021. To calculate the market size, the report considers the revenue generated from various sources like installing new units, maintenance of existing units and modernizing existing units in the country during the forecast period.

According to the report, one driver in market is demand from retail landscape. Worldwide retailers are trying to expand in Australia with more than 85 groups trying to establish stores in the country. The penetration rate in the country is around 27%, and the retail sector is encountering a wide-ranging change. An accelerating worldwide brand segment to the region, particularly in the past three years, has driven rents in central business district (CBD) markets and asset overhauls in neighborhood shopping centers, creating new retail locales. Sales productivity of some global brands in Australia is among the most elevated worldwide, alluring many retail investors.

Further, the report states that one challenge in market is crackdown on foreign investments. A crackdown on foreign venture has led to fears that internal city apartment projects will be retired and deals may fail. As Australian banks scrutinize abroad purchasers and the Chinese government's capital move through underground banks, property intellectuals caution wheels of Melbourne's supercharged apartment market might come to a halt. It might even swell out to expensive homes in suburbia supported by Asian purchasers. In addition, Westpac, the country’s second-largest bank, has eliminated home loans to non-residents and temporary visa holders. Other significant banks like Commonwealth Bank of Australia have decreased loan to valuation ratios (LVRs). They have also tightened qualification criteria like rejecting applications from applicants, using the self-employed foreign income for loan servicing.

Elevator and Escalator Market in Australia 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the elevator and escalator market in Australia: Otis Elevator, KONE, Schindler, ThyssenKrupp Elevator Australia, and Shotton Lifts.

Other Prominent Vendors in the market are: Access Elevators, Brilliant Lifts Australia, Compact Home Lifts, Eastern Elevators, Easy Living Home Elevators, ECOLIFT, Electra Lift, Elevator Services Group, E-lift, Forte Lift Services, FUJI ELEVATORS, Grant Elevators, International Lift Consultants, KLEEMANN Elevators Australia, Lift Shop, Liftronic, LML Lift Consultants, Mobility Elevator & Lift Company, Octagon Lifts, Pitfield & Associates, Platform Lift Company, Platinum Elevators, THE RESIDENTIAL LIFT COMPANY, Sito Elevators, Southern Lifts, alto lift company, Thompson Elevator Consultancy Services, and West Coast Elevators.

Market driver

• Chinese resurgence in commercial and residential real estate.
• For a full, detailed list, view our report

Market challenge

• Increasing cost of compliance with regulations.
• For a full, detailed list, view our report

Market trend

• Increasing adoption of energy-efficient elevators and escalators.
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 70 pages and 42 Exhibits “Elevator and Escalator Market in Australia 2017 - 2021” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Market segmentation by service, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

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