Uptake of Elevators to Increase with Urbanization and Mega City Growth, Finds Frost & Sullivan's Energy & Environment Team
SINGAPORE, Aug. 9,2017 /PRNewswire/ --
WHEN:2:30 p.m. SGT (+8 GMT), Wednesday, 23 August 2017
LOCATION: Online, with free registration (https://goo.gl/Hio45E)
EXPERT: Frost & Sullivan Principal Consultant,Jieqiang Tan
Elevator market growth in Southeast Asia is mainly attributed to the increasing rate of urbanization, which leads to cities becoming denser with high-rise buildings. Due to growing limitations of land space, high-rise residential and commercial buildings are high in demand and boost the adoption of elevators. Development of satellite cities around key cities in Indonesia and the Philippines is expected to spur demand for infrastructure development that in turns fuel the demand for buildings and elevators.
Maintenance will grow along with the growing elevator installed base, and it is a recurring income stream for market participants. More often than not, elevator companies receive low margins from new equipment sales and balance it with the maintenance contracts offered to customers. Market leaders, including Mitsubishi Elevator, have been successful in fostering partnerships with local companies to grow their business.
Questions this briefing will answer:
- How is the elevator market expanding in the fastest growing economies in Southeast Asia?
- Which are the leading elevator companies in Southeast Asia?
- What are the key success factors, and how are they different in each Southeast Asian elevator market?
- Where are the key opportunities and elevator customer segments in these countries?
Thought leader insights:
"Partnerships as well as mergers and acquisitions are necessary steps for global elevator companies to grow their business in Southeast Asia. Domestic elevator companies in the region possess proven track records and understanding of the local markets which will make it easier for international elevator companies to reach more customer segments across Southeast Asia," notes Jieqiang Tan, Principal Consultant for Energy & Environment at Frost & Sullivan.
Register:
To attend the briefing, register online at: https://goo.gl/Hio45E
About Frost & Sullivan
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Contact:
Carrie Low
Corporate Communications - Asia-Pacific
D: +603 6204 5910
E: carrie.low@frost.com
Melissa Tan
Corporate Communications - Asia-Pacific
D: +65 6890 0926
E: melissa.tan@frost.com
