DUBLIN, Oct. 20, 2015 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/l8hcvt/elevator_and) has announced the addition of the "Elevator and Escalator Market in Australia 2015-2019" report to their offering.

The elevator and escalator market in Australia to grow at a CAGR of 4.17%, in terms of newly installed units, over the period 2014-2019.

The report also presents the vendor landscape and a corresponding detailed analysis of the four key vendors in the market, and a brief description of other prominent vendors. In addition, the report discusses the major drivers that influence the growth of the market, outlines the challenges faced by vendors and the market at large, and highlights the key trends visible in the market.

As machine room-less (MRL) elevators have minimal mechanical parts, power consumption and maintenance costs are reduced. The roller-shoe suspension used here replaces the gear system and enables the smooth ride and landing of an elevator. Top vendors such as ThyssenKrupp are installing a permanent magnet synchronous gearless drive unit inside the shaft that eliminates the need for a geared operating system. Also, these elevators are easy to install. MRL elevators are economical and efficient, which means increased adoption and resultant market growth during the forecast period.

According to the report, since the 2008 financial crisis, the government of Australia has been making efforts to support the recovery of the MNR sector, which has a direct impact on the country's economy as minerals are used in trade. With this sector stabilizing by 2012, the government shifted its focus to the construction sector. In 2014, $15 billion was allocated to infrastructure development, which included multistoried residential and commercial buildings. This will propel the growth of the elevators and escalators market during the forecast period.

Further, the report states that Australian standard lift codes for every project and this is hindering the manufacture of customized elevators, and therefore affecting the elevator and escalator market in Australia adversely.

Key customer segments

• Commercial customers
• Non-commercial customers

Key vendors

• Kone Australia
• Otis Australia
• Schindler Australia
• ThyssenKrupp Australia

Other prominent vendors

• Access Elevators
• Eastern Elevators
• Sito Elevators
• Southern Lifts

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Industry overview

Part 06: Market landscape

Part 07: Construction Sector

Part 08: Impact of drivers

Part 09: Market challenges

Part 10: Impact of drivers and challenges

Part 11: Market trends

Part 12: Vendor landscape

Part 13: Key vendor analysis

Part 14: Appendix

For more information visit http://www.researchandmarkets.com/research/l8hcvt/elevator_and

Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net

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SOURCE Research and Markets