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The Saudi Arabia Elevator and Escalator Market by New Installations to Reach 3.6 Thousand Units by 2029 - Arizton
Saudi Arabia Elevators and Escalators Market Research Report by Arizton
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This report provides a market forecast for the elevators and escalators market during 2020-2029. The market covers details on new installations, modernization, and maintenance. The market forecast has been provided based on volume and value. The market is further bifurcated into new installations, modernization, and maintenance. Modernization has not been accounted for in the Volume market. The new installations and maintenance market has been further bifurcated into by type, carriage type, passenger, and end-users.
Smart Cities Projects in Saudi Arabia to Drive Demand for New Installation of Elevators
Saudi Arabia is one of the global emerging economies determined to transform its cities into smart cities. Over the last three decades, rapid urbanization, infrastructure development, and transformation have led to Saudi citizens' quality of life.
The government has taken up initiatives to create balanced development across nations and launched the implementation of the smart city project in ten cities across the Kingdom. By 2020, this initiative will have targeted five Saudi cities: Makkah, Riyadh, Jeddah, Al-Madinah, and Al-Ahsa.
In February 2022, The Ministry of Municipal, Rural Affairs, and Housing planned 50 plus initiatives, which will be launched across nine sectors by 2030.
Development of NEOM City, including THE LINE, Oxagon, and TROJEAN regions where various sectorial construction and advanced infrastructure are under pipeline, will likely accelerate the demand for elevators and escalator market installation.
Key Insights
Saudi Arabian Standards, Metrology and Quality Organization (SASO) announced in March 2018 that all the new elevators in residential and commercial buildings should be certified by the civil defense authority. Existing installations will be evaluated by maintenance companies. It is informed that all elevators should meet international standards. According to SASO, the main factor for elevator malfunctioning was engineering officers were unable to investigate with construction companies to ensure safety standards. About 55 authorizations are provided to companies, of which 22 are specially for maintenance companies.
As of 2022, 85% of the population of Saudi Arabia resided in metropolitan regions, according to data from the World Bank. But to do so, there needs to be a departure from the global trend toward doing city planning and management business as usual. The Kingdom of Saudi Arabia regards the New Urban Agenda as a crucial road map for transforming its cities into more enticing and successful locations to live and work while realizing that this transformation is a journey rather than a destination. Creating a livelier and more inclusive environment for everyone involves nurturing creative housing solutions, encouraging multimodal transportation, density, and mixed-use development, and constructing and activating public areas.
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Key Vendors
KONE
TK Elevator
Schindler
Mitsubishi Electric
Otis
Hyundai Elevator
Fujitec
Hitachi
Toshiba Elevator and Building Systems Corporation (TELC)
KLEEMAN
Gulf Elevators and Escalators Company (GEEC)
Sigma Elevator
Orona
Atlas Elevators
Elevator Market Segmentation by
Machine Type
Hydraulic and Pneumatic
Machine Room Traction
Machine Room Less Traction
Others
Climbing
Elevators
Industrial Elevators
Carriage Type
Passenger
Freight
Capacity
2-15 Persons
16-24 Persons
25-33 Persons
34 Persons and Above
End-User
Commercial
Residential
Industrial
Others
Public Transit
Institutional
Infrastructural
Escalator Market Segmentation by
Product Type
Parallel
Multi Parallel
Walkway
Crisscross
End-User
Public Transit
Commercial
Others
Institutional Sector
Infrastructure
Industrial
Key Questions Answered in the Report:
How big is the Saudi Arabia elevator and escalator market?
What will be the growth rate of the Saudi Arabia elevator and escalator market?
What is the number of installed bases in the Saudi Arabia elevator and escalator market in 2022?
What factors drive the maintenance segment in the Saudi Arabia elevator and escalator market?
What are the key Saudi Arabia elevator and escalator market players?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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