The growth in the elevator and escalator industry of Germany can be attributed to the maintenance and modernization of the already existing equipments and growing residential and retail infrastructure in the country.
The elevator and Escalator market in Germany also consists of players that are small and medium sized players that provide maintenance and modernization services along with customized designs for individual users. The market share of these players has significantly increased in the past few years. Owing to growth of such players the industry has become less concentrated in Germany and there is a healthy competition in the market. The significant growth of the real estate sector in the residential and retail segment has catapulted the elevator and escalator market in Germany. Owing to all these factors the elevator and escalator market has witnessed healthy growth and is expected to grow further in Germany.
The report titled “Germany Elevators and Escalators Market by New Equipment Installation & Maintenance & Modernization, by Elevator (by End Usage, by Type of Machinery, by Door Types and by Sector) and by Escalator (by End Usage and by Escalators and Moving Walkways) – Outlook to 2022” by Ken Research suggested a growth at a positive CAGR in revenues in Germany elevator and escalator market in the next 5 years till 2022, owing to the growth of real estate sector, rise in urban population and technological innovations in the industry.
For more information on the research report, refer to below link:
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Ankur Gupta, Head Marketing & Communications
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