Ken Research - Germany Elevators and Escalators Market Research R

Germany Elevator and Escalator Market Experiencing Substantial Growth of Real Estate
Sector, Rise in Urban Population and Government Spending on Public Infrastructure
Projects: Ken Research
The growth in the elevator and escalator industry of Germany can be attributed to the
maintenance and modernization of the already existing equipments and growing residential
and retail infrastructure in the country.
Germany is the largest economy in the Euro zone and has one of the best living standards in
the world. The economy has strongly revived from the global financial crises of 2008 and the
growth rate is gradually increasing. The government has invested heavily into building the
public infrastructure in the past. The high speed rail network connecting the major cities
across the country has been a major growth driver for the elevator and escalator industry in
Germany. The rail network was built in the 1990’s era and the elevators and escalators
installed are on the verge of completing their lifecycle. The maintenance & modernization
and new installations of elevators and escalators in public facilities will drive the market
growth in Germany. More than 70% of the country’s population lives in urban areas and
cities like Berlin, Frankfurt, Stuttgart, Munich, Hamburg and others have been continuously
building their public facilities and real estate sector to accommodate the rise in population.
Growth in the Tourism sector has led to building up of new hotels and retail spaces across
the country, which has further augmented the demand in the elevator and escalator market.
The elevator and escalator market in Germany also consists of players that are small and
medium sized players that provide maintenance and modernization services along with
customized designs for individual users. The market share of these players has significantly
increased in the past few years. Owing to growth of such players the industry has become
less concentrated in Germany and there is a healthy competition in the market. The