Elevators and Escalators Market in Japan 2015-2019 - New Market Study Published

Elevators and escalators are installed in commercial, residential, and mixed-use buildings; as well as IT parks, hotels, restaurants, and retail outlets. They help move people and goods easily and efficiently. They are also installed in parking areas to help in optimum utilization of space.

Technavio's analysts forecast the elevator and escalator market in Japan to grow at a CAGR of 4.96% over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "Energy-efficient or green elevators and escalators are becoming popular in Japan. Vendors such as Mitsubishi Electric and Hitachi are developing energy-efficient systems to ensure they meet the current energy-saving requirements with regard to both function and design. Features such as energy regeneration, automatic light shutdown in idle state, and other energy-saving technologies are in high demand in the elevator and escalator market in Japan. With rapid urbanization, companies in Japan are looking at environmentally friendly and energy-efficient elevators and escalators."

According to the report, with an increase in the aging population comes a significant rise in the demand for elevators and escalators in buildings across the country. Construction companies, developers, and builders have started installing elevators and escalators in buildings to enable easy movement of the elderly population.

Further, the report states that the prices of these materials are increasing because of the demand-supply gap, leading to a rise in manufacturing costs.

The key players in the Elevator and Escalator Market in Japan are Fujitec, Hitachi, Mitsubishi Electric and TELC while other prominent vendors include KONE, Nippon Otis, Schindler and ThyssenKrupp

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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