World Expo 2020 spurring UAE el­e­va­tor mar­ket

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The Re­search and Mar­kets ‘UAE El­e­va­tor and Es­ca­la­tor Mar­ket (2015-2021) re­port says World Expo 2020, the grow­ing con­struc­tion mar­ket and ex­pan­sion of public in­fra­struc­tures are pri­mar­ily spurring the UAE el­e­va­tor and es­ca­la­tor mar­ket. Its el­e­va­tor mar­ket, which ac­counts for ma­jor­ity of rev­enue, is pre­dicted to lead in the fore­cast pe­riod, ex­pand­ing at a healthy 6% CAGR. Main­te­nance and new in­stal­la­tion seg­ments are ma­jor rev­enue gen­er­at­ing seg­ments, where the main­te­nance seg­ment has cap­tured sig­nif­i­cant share of the mar­ket pie. Also, Saudi Ara­bia will drive the Mid­dle East mar­ket right through 2021, grow­ing at a 7.7% CAGR. Surg­ing de­mand and in­creas­ing com­pe­ti­tion are re­sult­ing in de­clin­ing prices of el­e­va­tors and escalators in the Saudi Ara­bian mar­ket, which is poised to reg­is­ter rel­a­tively higher growth rates.

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