DUBLIN, June 30, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Elevator and Escalator Market in Australia 2017-2021" report to their offering.

The elevator and escalator market in Australia to grow at a CAGR of 3.78% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the elevator and escalator market in Australia for 2017-2021. To calculate the market size, the report considers the revenue generated from various sources like installing new units, maintenance of existing units and modernizing existing units in the country during the forecast period. The report also includes a discussion of the key vendors operating in this market.

According to the report, one driver in market is demand from retail landscape. Worldwide retailers are trying to expand in Australia with more than 85 groups trying to establish stores in the country. The penetration rate in the country is around 27%, and the retail sector is encountering a wide-ranging change.

An accelerating worldwide brand segment to the region, particularly in the past three years, has driven rents in central business district (CBD) markets and asset overhauls in neighborhood shopping centers, creating new retail locales. Sales productivity of some global brands in Australia is among the most elevated worldwide, alluring many retail investors.

One trend in market is increasing adoption of energy-efficient elevators and escalators. Energy-efficient and eco-friendly escalators and elevators are gaining momentum. This is because urbanization has resulted in the emergence of many higher-rises. It is critical that all systems of such tall buildings become more energy-efficient to achieve the necessary reduction in greenhouse emissions. It is estimated that in Australia, some amount of CO2 emissions will be released from buildings.

The general population is increasingly looking for strict emission limits. Therefore, many companies are adopting eco-friendly solutions as a public way of demonstrating a strong commitment to green practices and improving the environment. Thus, the image of the institution is saved.

Further, the report states that one challenge in market is crackdown on foreign investments. A crackdown on foreign venture has led to fears that internal city apartment projects will be retired and deals may fail. As Australian banks scrutinize abroad purchasers and the Chinese government's capital move through underground banks, property intellectuals caution wheels of Melbourne's supercharged apartment market might come to a halt. It might even swell out to expensive homes in suburbia supported by Asian purchasers. In addition, Westpac, the country's second-largest bank, has eliminated home loans to non-residents and temporary visa holders.

Key vendors

• Otis Elevator
• KONE, Schindler
• ThyssenKrupp Elevator Australia
• Shotton Lifts

Other prominent vendors

• Access Elevators
• Brilliant Lifts Australia
• Compact Home Lifts
• Eastern Elevators
• Easy Living Home Elevators
• ECOLIFT
• Electra Lift
• Elevator Services Group
• E-lift
• Forte Lift Services
• FUJI ELEVATORS
• Grant Elevators
• International Lift Consultants
• KLEEMANN Elevators Australia
• Lift Shop
• Liftronic
• LML Lift Consultants
• Mobility Elevator & Lift Company
• Octagon Lifts
• Pitfield & Associates
• Platform Lift Company
• Platinum Elevators
• THE RESIDENTIAL LIFT COMPANY
• Sito Elevators
• Southern Lifts
• alto lift company
• Thompson Elevator Consultancy Services
• West Coast Elevators

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by product

Part 07: Market segmentation by service

Part 08: Market drivers

Part 09: Impact of drivers

Part 10: Market challenges

Part 11: Impact of drivers and challenges

Part 12: Market trends

Part 13: Vendor landscape

Part 14: Key vendor analysis

Part 15: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/c5cblg/elevator_and

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SOURCE Research and Markets