South & Southeast Asia Elevator & Escalator Sector to Post 6% CAGR to 2023, Expects 6Wresearch in Its New Report Available at MarketPublishers.com04 Dec 2017 • by Natalie Aster
LONDON – South and Southeastern Asia’s elevator & escalator market is poised to gather momentum demonstrating a 6% CAGR through to 2023. In the region, India captured the major share market by revenue, due to massive infrastructure development activities, particularly in the commercial and residential sectors. Meantime, over the next 6 years, the elevator and escalator markets of Sri Lanka and Bangladesh will likely demonstrate faster growth across the region. As of 2016, India’s market posted sluggish growth owing to changes in the government’s demonetisation policies, downtrend in construction projects, and an upsurge in vacant residential projects. Nevertheless, the market is poised to gain traction on account of improvements in the economic situation, further drop in demand in China and political disturbances in the Hong Kong region will likely drive the growth, specifically in the Southeast region during the forecast period. With the slowdown of construction market in China investors are pouring money into construction projects in the Southeast region leading to the region’s high economic development.
New research report “South and Southeast Asia Elevator & Escalator Market (2017-2023)” drawn up by 6Wresearch provides in-depth, unbiased insights into the market at a regional level. The report includes a holistic market segmentation analysis based on types, by verticals, by services, and regions-wise.
The study provides historical data & forecast figures (market revenue and volume) for the global elevator & escalator market and for the key country markets. It sheds light on the current trends, lucrative opportunities and high growth areas, canvasses the key market drivers and restraints. The report casts light on the competitive landscape and provides exhaustive profiles of the 7 dominant companies operating in the industry.
Many more new research reports by 6Wresearch are available in its online catalogue at MarketPublishers.com.