Saudi Arabia smart elevator market is
bound to experience impressive growth with anticipated CAGR in the forecast
period, 2023-2027, on the account of surging demands for the smart
infrastructure, and smart technological advancements. Moreover, the development
of products that use renewable energy sources is another major driving factor
for the market growth in the next five years. Widespread usage in residential,
industrial, and commercial sectors, along with rapid infrastructure development
and government mandates pertaining to deployment of such advanced elevators in
new structures and thereby supporting the growth of the Saudi Arabia smart
elevator market in the forecast years until 2027. The intelligent solutions are
progressively deployed to attain automation, advanced security, and high energy
efficiency compared to conventional lifts, thereby enhancing the demand for
smart elevators. Furthermore, adoption of cable-free lifts, dizzying heights,
rising security concerns, and adoption of digital security systems, are
generating market growth opportunities and thus supporting the growth of the
Saudi Arabia smart elevator market in the next five years.
The Saudi Arabia smart elevator market
is segmented by component, speed, application, service, application, regional
distribution, and competitional landscape. Based on component, the market is
further sub-segmented into communication systems, maintenance system, and control
systems. The control systems are anticipated to hold the largest revenue shares
of the market and dominate the segment in the next five years, growing on the
account of enhanced security and management offered by these systems in crowded
buildings. The control systems are differentiated into security control,
elevator control, access control. Elevator control is the most important and
most demanded control system, since it provides the basic necessity for the elevators
control, movement, and maintenance. Fast connectivity parameters, advanced
access control, and video surveillance that guarantee high passenger comfort
and elevator security, thereby contributing to the smart elevator market
expansion.
A partial list of market player in the Saudi
Arabia smart elevator market includes Otis Elevator Company Saudi Arabia
Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi
Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company
Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona
Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia,
Toshiba Elevator And Building Systems Corporation, Hitachi Elevator Saudi
Arabia Limited., Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators
(ASCO), Elegent Elevators Company, CGC Elevators & Escalators, among
others. These market players hold larger shares of the market than the new
market players. With the evolving technology, it is appropriate to say that the
effective research and development of the technologically advanced instruments
and methods to satisfy consumer demands would support the market growth and
benefit the market players as well as the consumers. New market players may
focus on the research and development to provide such products and services
that satisfies the consumer demand as well as benefits the market players in
building their brand value. Other competitive strategies include mergers &
acquisitions and new product developments.
Objective
of the Study:
- To
analyze the historical growth of the
market size of Saudi Arabia smart elevator market from 2017 to 2020.
- To
estimate and forecast the market size of Saudi Arabia smart elevator market
from 2021 to 2027 and growth rate until 2027.
- To classify and
forecast Saudi Arabia smart elevator market based on component, speed,
application, service, competitional landscape, and regional distribution.
- To identify dominant region or segment in the Saudi Arabia smart
elevator market.
- To
identify drivers and challenges for Saudi Arabia smart elevator market.
- To
examine competitive developments such as expansions, new product launches,
mergers & acquisitions, etc., in Saudi Arabia smart elevator market.
- To identify and analyze the profile
of leading players operating in Saudi Arabia smart elevator market.
- To identify key sustainable strategies adopted by market players in
Saudi Arabia smart elevator market.
Click here to download the sample
TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of manufacturers, suppliers, and service providers across the country.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the manufactures which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the manufactures, distribution
channels and presence of all major players across the country.
TechSci Research calculated the market size of Saudi Arabia smart elevator market using a bottom-up approach,
wherein data for various end-user segments was recorded and forecast for the
future years. TechSci Research sourced these values from the industry experts
and company representatives and externally validated through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
Key
Target Audience:
- Smart elevator manufacturers, end users, and other stakeholders
- Distributers and suppliers of the products and other stakeholders
- Organizations, forums, and alliances related to smart elevator
- Market research and consulting firms
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers,
suppliers, end users, etc., besides allowing them in strategizing investments
and capitalizing on market opportunities.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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·
Component
·
Speed
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Application
·
Service
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Regional scope
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Western
Region, Northern and Central Region, Eastern Region, Southern Region
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Key companies profiled
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Otis Elevator Company Saudi Arabia Limited, Schindler Olayan
Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric
Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali
Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA,
Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia, Toshiba
Elevator And Building Systems Corporation, Hitachi Elevator Saudi Arabia Limited.,
Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO), Elegent
Elevators Company, CGC Elevators & Escalators.
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Customization scope
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10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
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Report Scope:
In this report, Saudi Arabia smart elevator market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Saudi Arabia Smart Elevator Market,
By Component:
o Communication Systems
o Maintenance System
o Control Systems
o Security Control
o Elevator Control
o Access Control
- Saudi Arabia Smart Elevator Market,
By Speed:
- Less than 2m/s
- 2-5m/s
- 5.1-8m/s
- Above 8 m/s
- Saudi Arabia Smart Elevator Market,
By Application:
- Residential
- Commercial
- Industrial
- Saudi Arabia Smart Elevator Market,
By Service:
- New Installation
- Modernization
- Maintenance
- Saudi Arabia Smart Elevator Market,
By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia smart elevator market.
Available Customizations:
With the given market data, TechSci Research offers customizations
according to a company’s specific needs. The following customization options
are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Saudi Arabia Smart elevator Market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]