According to 6Wresearch, South-East Asia Elevator and Escalator Market is expected to grow at a CAGR of 3% during 2016-22.
In South East Asia’s elevator & escalator market, the elevator segment accounted for majority of the market revenue owing to high installation of elevators in retail and residential verticals.
Escalator segment is projected to grow at a higher CAGR during 2016-2022, primarily due to growing airports, metros and railway development projects in South East Asia region.
Amongst all verticals, commercial vertical acquired highest revenue share of the market pie in the region. Over the next six years, residential vertical is forecast to grow at relatively higher CAGR during 2016 to 2022.
Increasing number of foreign tourists has driven the construction of new hotels across the region, especially in Indonesia and Malaysia.
In South East region, Malaysia held major market for elevator & escalator in terms of revenue, owing to increasing infrastructure development activities, especially in commercial and residential verticals.
*Source extracted from 6Wresearch http://www.6wresearch.com/press-releases/south-east-asia-elevator-escalator-market-2016-2022-media-news.html & http://www.openpr.com/news/369997/South-East-Asia-Elevator-Escalator-Market-2016-2022-Report-6Wresearch.html