Dublin, Dec. 14, 2018 (GLOBE NEWSWIRE) -- The "Elevator and Escalator Services Market in GCC 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The elevator and escalator market in GCC will register a CAGR of over 7% by 2023.

Owing to the increasing adoption of IoT platform for conducting elevator maintenance, the elevator and escalator market in GCC is likely to gain traction in the forthcoming years. The integration of IoT will allow reduced downtime and improved service efficiency.

Market Overview

Growing popularity of smart cities

With the growing population and uncontrolled urbanization, various authorities in the region are focusing on adopting the smart city model for offering adequate delivery of basic amenities to the citizens. Such rising trend of developing smart cities will drive the market's growth during the forecast period.

Stringent safety regulations for elevators and escalators

Using elevators and escalators may often lead to fatal accidents if not used properly. These accidents may further pose threat to the personnel engaged in their maintenance and service. As a result, such stringent safety regulations for elevators and escalators may pose a threat to the market's growth during the forecast period.

Competitive Landscape

The elevator and escalator market is fragmented with players focusing on integrating advanced technologies such as IoT to offer products catering to the latest trend of smart city development. The report offers comprehensive analysis of the strategies the companies are adopting, in turn, helping the clients to gain a competitive advantage over other counterparts.

The report recognizes the following companies as the key players in the elevator and escalator market in GCC: AG MELCO Elevator, Hitachi, KONE, Otis Elevator, and Schindler.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• Preface
• Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2018
• Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

• Market segmentation by product
• Comparison by product
• Elevators - Market size and forecast 2018-2023
• Escalators - Market size and forecast 2018-2023
• Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• Saudi Arabia - Market size and forecast 2018-2023
• UAE - Market size and forecast 2018-2023
• Qatar - Market size and forecast 2018-2023
• Bahrain - Market size and forecast 2018-2023
• Kuwait - Market size and forecast 2018-2023
• Oman - Market size and forecast 2018-2023
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Elevator maintenance using loT platform
• Use of regenerative drives
• LEED certification enabling energy-efficient elevators and escalators

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• AG MELCO Elevator
• Hitachi
• KONE
• Otis Elevator
• Schindler

PART 14: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/6bpzmr/elevator_and?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

                  CONTACT: ResearchAndMarkets.com
                           Laura Wood, Senior Press Manager
                           press@researchandmarkets.com
                           For E.S.T Office Hours Call 1-917-300-0470
                           For U.S./CAN Toll Free Call 1-800-526-8630
                           For GMT Office Hours Call +353-1-416-8900
                  Related Topics: Elevators and Escalators