The elevator and escalator market in Germany is likely to experience steady growth because of the increasing adoption of energy-efficient elevators and escalators. Rising at a CAGR of almost 4%, the market is estimated to have an incremental growth of USD 605.72 million by 2024. Download Free Sample Report
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Technavio has announced its latest market research report titled Elevator and Escalator Market in Germany 2020-2024 (Graphic: Business Wire)
A Technavio analyst says, "The elevator and escalator market in Germany will not be majorly impacted by the spread of COVID-19. However, the market outlook might change if the containment efforts go beyond Q2 2020."
Technavio’s recent analysis of the elevator and escalator market in Germany, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. During the forecast period, Germany is expected to offer significant growth opportunities for market players.
For further information on this analysis, please visit: https://www.technavio.com/report/elevator-and-escalator-market-in-germany-industry-analysis
Economic profitability of investments in energy-efficient systems and increasing accidents in the industry are expected to hinder the growth of the market. However, growing regulatory requirements and the increasing construction of high-rise buildings will have a positive impact on the elevator and escalator market in Germany during the forecast period.
Technavio’s analysis of the elevator and escalator market in Germany also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the elevator and escalator market growth in Germany during the next five years
- Precise estimation of the elevator and escalator market size in Germany and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the elevator and escalator market across Germany
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of elevator and escalator market in Germany
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