UAE elevator and Escalator Market Research Report, 2029

Construction of high-rise structures, residential complexes, business centres, and shopping malls are just a few of the notable real estate and construction projects that have taken place in the UAE. Due to the increased demand for effective vertical mobility, lifts and escalators are in high demand. Rapid urbanisation and population growth in the UAE's metropolitan centres have increased the demand for vertical transportation solutions. In order to ensure convenient and effective transit inside buildings and public areas, lifts and escalators are essential. The UAE is a popular tourist destination, attracting millions of visitors each year. The hospitality industry's growth, including hotels, resorts, and entertainment venues, has driven the demand for elevators and escalators to enhance guest experience and accessibility. The UAE government has been actively investing in infrastructure development and urban planning. Various government initiatives, such as Dubai's Vision 2021 and Abu Dhabi Vision 2030, have focused on enhancing the overall infrastructure, including transportation systems within cities. The UAE has been keen on adopting advanced technologies, including smart elevators and escalators that offer improved safety, energy efficiency, and user experience. These technological advancements have further fueled the demand for modern vertical transportation solutions. According to the research report "United Arab Emirates Elevators and Escalators Market Research Report, 2029," published by Actual Market Research, the United Arab Emirates elevators and escalators market is anticipated to grow at more than 7.2% CAGR from 2024 to 2029. The UAE is known for its iconic high-rise buildings, such as the Burj Khalifa in Dubai, which is the tallest building in the world. The construction of these skyscrapers has significantly contributed to the demand for elevators and escalators in the country. The UAE has been at the forefront of adopting smart technologies in various sectors, including elevators and escalators. Smart elevators equipped with advanced features like destination control systems, biometric access, and energy-saving solutions are increasingly being installed in buildings across the country. With a growing emphasis on sustainability, the UAE elevator and escalator market has seen an increased demand for energy-efficient solutions. Manufacturers are developing eco-friendly elevators and escalators that consume less energy and incorporate regenerative drives to reduce power consumption. The UAE has a significant focus on elevator and escalator maintenance and modernization to ensure safety and efficiency. Several companies provide maintenance and modernization services, including the installation of new technologies in existing elevators and escalators to improve performance and extend their lifespan. The UAE places a strong emphasis on safety in the elevator and escalator industry. Regulatory authorities have implemented stringent safety standards and guidelines to ensure the proper installation, operation, and maintenance of vertical transportation systems. The UAE elevator and escalator market is highly competitive, with both domestic and international players operating in the region. Major global elevator manufacturers, such as Otis, KONE, Schindler, and ThyssenKrupp, have a strong presence in the UAE market.

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The market includes various types of elevators such as passenger, freight, and specialized elevators like double-deck and hospital elevators. Passenger elevators dominate the market due to their essential role in residential and commercial buildings, while freight elevators are crucial for industrial applications. Recent trends indicate a rising demand for advanced technologies, including machine-room-less traction elevators and energy-efficient hydraulic systems. Escalators and moving walkways are also integral to the market, particularly in public transit and commercial sectors. Escalators are categorized into parallel, multi-parallel, and crisscross designs, facilitating efficient movement in high-traffic areas like malls and airports. The introduction of smart escalators equipped with IoT technologies is a notable trend, enhancing operational efficiency and user experience. The UAE elevator and escalator market include the launch of advanced maintenance services and digital solutions. For instance, Otis has introduced its Otis ONE IoT service platform, which utilizes machine learning for predictive maintenance, allowing for real-time monitoring and management of elevator systems. Additionally, KONE has expanded its operations by establishing a regional distribution center in Dubai, aimed at enhancing service delivery across the Middle East. New installation services involve the design, supply, and commissioning of elevators and escalators in new construction projects. This segment is driven by the rapid urbanization and construction of high-rise buildings, shopping malls, and other commercial and residential developments across the UAE. Key factors influencing new installations include the growing population, increasing tourism, and the government's focus on infrastructure development. Elevator and escalator manufacturers in the UAE, such as KONE, Otis, and Mitsubishi Electric, have established a strong presence in this market, offering customized solutions to meet the unique requirements of each project. Maintenance and repair services are essential for ensuring the safe and efficient operation of elevators and escalators throughout their lifespan. Regular preventive maintenance, which includes inspections, cleaning, lubrication, and adjustments, helps to minimize breakdowns and extend the equipment's useful life. In the UAE, building owners and facility managers are required to comply with strict safety regulations, driving the demand for professional maintenance services. Major players in the UAE elevator and escalator market, including Schindler, TK Elevator, and Fujitec, offer comprehensive maintenance packages tailored to the specific needs of each building.As elevators and escalators age, modernization services become increasingly important to upgrade and enhance their performance, safety, and energy efficiency. Modernization projects may involve the replacement of outdated components, the integration of smart technologies, and the implementation of energy-saving features. In the residential sector, the demand for elevators is driven by the construction of high-rise apartment buildings and luxury villas. As urbanization accelerates, developers are increasingly incorporating elevators to enhance accessibility and convenience for residents. The UAE's commitment to creating modern living spaces has led to a rise in multi-story residential projects, particularly in cities like Dubai and Abu Dhabi. This trend necessitates reliable vertical transportation solutions that can accommodate the growing population and ensure smooth mobility within these buildings. The commercial sector represents a significant portion of the elevator and escalator market, fueled by the rapid development of office complexes, shopping malls, hotels, and entertainment venues. The UAE's thriving tourism and business industries require efficient vertical transportation systems to manage high foot traffic, particularly in iconic structures like the Burj Khalifa and The Dubai Mall. The demand for energy-efficient and smart elevators is also increasing as commercial properties seek to reduce operational costs and enhance user experience. This sector is characterized by a focus on integrating elevators with smart building technologies, allowing for real-time monitoring and improved safety features. The industrial and infrastructure segment encompasses a wide range of applications, including logistics, manufacturing, and marine industries. Elevators and escalators in this sector are essential for moving goods and personnel efficiently within warehouses, factories, and ports. The UAE's strategic position as a global trade hub has spurred the development of logistics facilities, which rely on robust vertical transportation systems to optimize operations.

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Nikita Jabrela

Business Development Manager

COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in UAE due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of UAE prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: UAE • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • UAE Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Based on By Types: • Elevator • Escalators • Moving Walkways Based on By Services: • New installation • Maintenance and repair • Modernization Based on by End use types: • Residential • Commercial • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.