UAE Elevator & Escalator Market (2019-2025)
Market Forecast By Types (Elevator and Escalator), By Applications (Commercial, Industrial and Residential), By Services (New Installation, Maintenance and Modernization), By Regions (Northern and Southern) and Competitive Landscape

The UAE government responded strongly to the worsened economic condition in the Middle East region after the oil crash of 2014 by implementing strict localization targets, value added tax (VAT), increasing non-oil sector contribution in the GDP of the country and several other regulatory reforms. Steadying oil prices, stabilizing economic conditions, expanding social infrastructure, development of ambitious transportation projects along with recovering construction industry would act as the key drivers for the growth of UAE elevator & escalator market forecast period revenues.

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UAE elevator & escalator market size is projected to grow at a CAGR of 5.6% during 2019-25. Significant investment being made for Dubai Expo 2020, implementation of the UAE Vision 2021 initiative by the government and approval of large-scale projects such as the expansion of Al Maktoum International airport, extension of red and green lines of Dubai metro, Abu Dhabi metro and several other commercial and residential projects, would drive the demand for elevators & escalators in UAE.

The Northern Region of UAE, which includes emirates such as Dubai and Sharjah, captured the highest UAE elevator & escalator market share in 2018. However, the Southern region including Abu Dhabi, is expected to witness significant growth over the coming years as the government has launched Economic Vision 2030 for diversification of economy and to attract foreign investment in the non-oil sectors of the region, such as manufacturing, transportation and tourism.

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