MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled Saudi Arabia Elevator and Escalator Market Research Report: Forecast (2024–2030). This report provides a detailed assessment of the Saudi Arabia Elevator and Escalator, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.
Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.
Market Timeline Overview
- Historical Years: 2019–22
- Base Year: 2023
- Forecast Years: 2024–30
This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.
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Saudi Arabia Elevator and Escalator Market Outlook
The Saudi Arabia Elevator & Escalator Market is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30. The market expansion would be driven by active efforts of the Saudi government toward diversifying the economy away from the oil & gas sector, coupled with massive investments in the development of other industries, such as healthcare, retail, building & construction, tourism, IT & telecom, etc., in line with Saudi Vision 2030. Consequently, the country is witnessing various ongoing & upcoming infrastructural, commercial, & residential development projects, i.e., stimulating elevator & escalator installations and fueling the overall market growth.
Saudi Arabia Elevator and Escalator Market Drivers:
Mushrooming Growth of the Healthcare Sector in Saudi Arabia – The extensive boom in healthcare infrastructure projects in the country, facilitated by public & private investments served as a prominent factor driving the demand for elevators and escalators in Saudi Arabia. According to Trade.gov, Saudi Arabia represents around 60% of the GCC nations' healthcare spending, and the country's government continues to place a high focus on the industry. The investments are dominantly made to attract both domestic and foreign patients, thereby fostering medical tourism from countries like the US and Canada.
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Saudi Arabia Elevator and Escalator Market Trends:
Growing Traction Towards Elevators Integrated with Destination Control Systems (DCS) – Saudi Arabia is presently witnessing rapid urbanization and infrastructure development, leading to the construction of skyscrapers and high-rise buildings in cities like Riyadh and Jeddah. This development is increasing the need for efficient vertical transportation solutions to ensure smooth traffic flow. As a result, the demand for DCS-equipped elevators to optimize traffic flow, reduce wait times, and enhance user experience in densely populated buildings is gaining traction across the country.
Saudi Arabia Elevator and Escalator Market Segmentation
The study categorizes the Saudi Arabia Elevator and Escalator into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.
By Type
- Elevator- Market Size & Forecast 2019-2030, (Thousand Tons)
- Escalator- Market Size & Forecast 2019-2030, (Thousand Tons)
By Service
- New Installation- Market Size & Forecast 2019-2030, (Thousand Tons)
- Modernization- Market Size & Forecast 2019-2030, (Thousand Tons)
- Maintenance- Market Size & Forecast 2019-2030, (Thousand Tons)
By End User
- Residential- Market Size & Forecast 2019-2030, (Thousand Tons)
- Commercial- Market Size & Forecast 2019-2030, (Thousand Tons)
- Retail- Market Size & Forecast 2019-2030, (Thousand Tons)
- Healthcare- Market Size & Forecast 2019-2030, (Thousand Tons)
- Hospitality- Market Size & Forecast 2019-2030, (Thousand Tons)
- Government & Transportation- Market Size & Forecast 2019-2030, (Thousand Tons)
- Others- Market Size & Forecast 2019-2030, (Thousand Tons)
- Industrial- Market Size & Forecast 2019-2030, (Thousand Tons)
Geographical Analysis
The report presents detailed insights into the market’s geographical expansion, highlighting key trends and opportunities across the following geographies:
By Region
- East
- West
- South
- Central.
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Leading Companies in Saudi Arabia Elevator and Escalator Market Worldwide: Players, Analysis & Future Outlook
- Thyssenkrupp Elevator Saudi Arabia
- Otis Elevator Company Saudi Arabia Limited
- Hyundai Elevator
- Toshiba Elevator and Building Systems Corporation
- Hitachi Elevator
- Kone Middle East LLC
- Fujitec Saudi Arabia Co. Ltd.
- Schindler Olayan Elevator Co. Ltd.
- Mitsubishi Electric Saudi Ltd.
- Gulf Elevators and Escalators Co.
Key Highlights of the Report
- Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2024 to 2030.
- Growth Drivers & Challenges: Clear insights into factors feeling or restraining market expansion.
- Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
- Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.
Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences
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Frequently Asked Questions (FAQ)
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2. What are the major factors driving this market’s growth?
3. Which regions are expected to lead the Saudi Arabia Elevator and Escalator?
4. Who are the prominent players in the Saudi Arabia Elevator and Escalator?
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About Us
MarkNtel Advisors is a globally recognized market research firm offering comprehensive insights into the construction and mining sector, encompassing building management, construction materials, and construction technology & equipment. We assist developers, equipment manufacturers, and infrastructure investors in understanding market trends, sustainability mandates, and technological disruptions. Leveraging our Competitive Intelligence services, we help organizations benchmark competitors, identify white spaces, and craft informed growth strategies for enduring success in the global construction landscape.
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