Saudi Arabia Elevator and Escalator Market Share, Growth, Industry Segmentation, Analysis, and Forecast to 2030

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This comprehensive Saudi Arabia Elevator and Escalator Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.

According to recent market analysis report, the Saudi Arabia Elevator and Escalator Market is expected to grow at a CAGR of 7.5% during the forecast period of 2024 to 2030.

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Driving Force Behind the Growth of the Saudi Arabia Elevator and Escalator Market through 2030

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.

Moreover, the Saudi government's ambitious investment plan of around USD 66 billion to bolster the healthcare industry by 2030 would further propel construction activities in this sector. As a result, the burgeoning healthcare sector, supported by both public-private partnerships and government investments, is set to drive the demand for elevators and escalators in Saudi Arabia for improved building infrastructure in the foreseeable future.

Market Segment Highlights:

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)

The Commercial & Residential segments are projected to acquire a significant share of the Saudi Arabia Elevator and Escalator Market during 2024-2030. It owes primarily to numerous infrastructural development projects associated with hotels, retail outlets, malls, corporate offices, residential buildings, etc., in the country, backed mainly by increasing greenfield investments and the active focus of the government on economic diversification.

Saudi Arabia Elevator and Escalator Market Regional Outlook:

  • East
  • West
  • South
  • Central

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Saudi Arabia Elevator and Escalator Market Competition Analysis:

Some of the top Saudi Arabia Elevator and Escalator companies operating in the market are Thyssenkrupp Elevator Saudi Arabia, Otis Elevator, Hyundai Elevator, Toshiba Elevator and Building Systems Corporation, Hitachi Elevator, Kone Middle East LLC, Fujitec CoLtd, Schindler.

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