Market outlook of the elevators and escalators market in Colombia
The market for elevators and escalators in Colombia is expected to show moderate growth during the forecast period and is positively influenced by the increased construction spending in the country. The increased spending on construction activities is expected to boost the number of residential and commercial projects across the country, which results in its slow but moderate CAGR of nearly 5% by 2019.
Technavio market research analysts estimate eminent factors, such as the rise in tourism, to drive market growth during the forecast period. The tourism industry in Colombia is rapidly growing and is expected to reach close to USD 6 billion by 2018. Consequently, the government is focusing on the development of infrastructure and hospitality services in order to provide tourists with comfortable services.
Segmentation by product and analysis of: elevators & escalators
In this market research report, analysts envisage the elevator segment to exhibit the highest market growth rate during the forecast period. In terms of unit installation, the elevators segment is expected to reach close to 2,150 units by 2019 and factors like the construction of buildings for commercial or residential purpose are expected to encourage growth in this segment during the forecast period.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
Competitive landscape and key vendors: KONE, Mitsubishi Electric, Schindler, and ThyssenKrupp
This market is dominated by large vendors like KONE and Schindler who account for approximately 81% of the total market during the forecast period. The smaller vendors and SMEs in this market are merely used for the purpose of service and maintenance.
Key vendors mentioned in this market study are -
Other prominent vendors analyzed in this industry research report are Ascensores Fujitec, Otis Elevators, and Sigma Elevator.
Growth drivers, challenges, and upcoming trends: Elevators and escalators
Upcoming trends such as the increase in machine room-less (MRL) elevators are rapidly gaining popularity as they are more economical and efficient than conventional elevators. A significant advantage of these elevators is that there is no need of an additional space and an operator to operate the lift. Moreover, since they are gearless, less mechanical parts are installed, which leads to lower power consumption and maintenance cost.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the elevators and escalators market in Colombia. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the elevators and escalators market in Colombia?
What are the key market trends impacting the growth of the elevators and escalators market in Colombia?
What are the challenges to market growth?
Who are the key vendors in the elevators and escalators market in Colombia?
What are the market opportunities and threats faced by the vendors in the elevators and escalators market in Colombia?
What are the key outcomes of the five forces analysis of the elevators and escalators market in Colombia?
Technavio also offers customization on reports based on specific client requirement.
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Industry overview
Elevators and escalators overview
Life cycle of elevators and escalators
Supply chain for elevators and escalators
Elevator and escalator market investment opportunites in Colombia
PART 06: Market landscape
Elevator and escalator market in Colombia
Five forces analysis
PART 07: Market segmentation by product
Elevator market in Colombia
Escalator market in Colombia
PART 08: Market drivers
Increase in construction activities
Rise in tourism
Increase in urbanization
PART 09: Impact of drivers
PART 10: Market challenges
Inefficient transportation networks
High installation costs
Lack of effective product differentiation
PART 11: Impact of drivers and challenges
PART 12: Market trends
Increase in MRL elevators
Development of energy-efficient elevators
PART 13: Vendor landscape
Other prominent vendors
PART 14: Key vendor analysis
PART 15: Appendix
List of abbreviations
PART 16: Explore Technavio
List of Exhibits
Exhibit 01: Classification of elevators
Exhibit 02: Classification of escalators
Exhibit 03: Life cycle of elevators and escalators
Exhibit 04: Elevator and escalator market size and forecast 20152019 by new installed units
Exhibit 05: Five forces analysis
Exhibit 06: Elevator market size and forecast in Colombia 20152019 by new installed units
Exhibit 07: Top 10 under-construction buildings in Colombia
Exhibit 08: Escalator market size and forecast in Colombia 20152019 by new installed units
Exhibit 09: Global ranking of Colombia in terms of some of the factors affecting the setting up of business
Exhibit 10: Estimated construction investment in Colombia 20142019 ($ billions)
Exhibit 11: Number of tourist arrivals in Colombia 20112014 (millions)
Exhibit 12: Population segmentation in Colombia 20112014
Exhibit 13: Rate of urbanization 20112014 (millions)
Exhibit 14: Impact of drivers
Exhibit 15: Impact of drivers and challenges
Exhibit 16: Elevator and escalator market share in Colombia 2013
Exhibit 17: KONE: Business segmentation by revenue 2014
Exhibit 18: KONE: Geographical segmentation by revenue 2014
Exhibit 19: Mitsubishi Electric: Business segmentation 2014 by revenue
Exhibit 20: Mitsubishi Electric: Business segmentation by revenue 2014 and 2015 ($ billions)
Exhibit 21: Mitsubishi Electric: Geographical segmentation by revenue 2015
Exhibit 22: Schindler: Product segmentation
Exhibit 23: Schindler: Geographical segmentation by revenue 2014
Exhibit 24: ThyssenKrupp: Business segmentation by revenue 2014
Exhibit 25: ThyssenKrupp: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 26: ThyssenKrupp: Geographical segmentation by revenue 2014
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