Technavio Announces Top Three Emerging Trends Impacting the Elevators and Escalators Market in Spain
Technavio’s latest report on the elevators
and escalators market in Spain provides an analysis of the key
trends expected to impact the market through 2015-2019. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
Spain has the largest installed base of elevators and escalators
equipment in Europe. Replacement and modernization of existing elevators
is driving market growth in the country. “The elevators and escalators
market in Spain is growing steadily and is expected to post a CAGR of
over 3% in terms of revenue and almost 4% in terms of units installed
during the forecast period,” says Soumya Mutsuddi, lead analyst at
Technavio for construction
research.
The top three emerging trends influencing the elevators and escalators
market in Spain according to Technavio’s heavy
industry research analysts are:
Growth of energy-efficient elevators
The Spanish government is focusing on reducing the impact of elevator
usage on the environment. It is encouraging manufacturers to efficiently
use energy and natural resources in both the production and designing
stages. For instance, the Gen2 elevators manufactured by Otis are
machine-room-less systems that are nearly 50% more efficient than
conventional elevators. These elevators are gearless and the steel belts
installed in the machines are coated with polyurethane, which eliminates
the application of lubricants.
The ReGen drive elevators manufactured by Otis help in optimizing the
energy supplied to a building. The energy generated as heat during the
braking of the elevators is reverted to the building's internal
electricity grid, thus reducing energy consumption. The energy is then
used for lighting and other purposes.
The government is also attempting to develop an international ISO
standard for energy classification of elevators. It aims at making
regular maintenance of the elevators mandatory in order to sustain the
overall efficiency of an operational elevator for a longer duration. It
will also lay out a framework for manufacturers which will focus on the
estimated overall energy consumption that can be allowed for an elevator
and its components.
Government initiatives to promote recovery of construction market
The government of Spain is making efforts to improve the condition of
the overall construction market. It has launched the Plan de
Infraestructuras, Transporte y Vivienda in 2012, which aims at improving
the transportation and housing infrastructure. According to the plan,
the government wants to implement and construct nearly 1,000 miles of
railway networks during 2012-2024. In the housing sector, this plan is
helping Barcelona recover from the economic crisis. In 2014, it was the
only city in Spain to gain marginal profits.
Increase in electric elevator installation
Electrical elevators have become a preferred choice among construction
companies in Spain. “The demand for energy-efficient elevators has also
increased, as they are economical both for the users as well as the
installers,” says Soumya.
In terms of carriage, electrical lifts can carry much more weight when
compared with hydraulic elevators. The counter weights utilize and
optimize the energy consumption. The maximum energy utilized by these
lifts is in the form of heating, cooling, ventilation, and lighting
systems installed for the occupants. The electrical elevators dominated
the market with a market share of 94% in 2014.
Some of the top vendors in the elevators and escalators market in Spain,
as researched by Technavio analysts are:
-
KONE Spain
-
Otis Spain
-
Schindler (Spain)
-
ThyssenKrupp Spain
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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