Market Research Reports - Ken Research Japan Elevators and Escalators Market Research

Japan Elevator and Escalator Market Witnessing Huge Demand from Increasing Investment in
Public Infrastructure & Rising Urban Population Uplifting Residential and Commercial
Construction: Ken Research
The growth in the elevator and escalator industry of Japan can be attributed to the financially
stable economy of the country and high investment by the government for the development of
public infrastructure.
Japan, although a small country, but is one of the leading and strongest economies in the world.
The economy of the country saw negative growth during the global financial crises, but Japan
has revived in a very robust manner. The country is one of the leading hubs for technical
innovation and research in the world and has one of the best networks of roads, trains and
airports across the country. Japan is one of the pioneers and leaders in development of bullet
trains. The government has been investing heavily to develop the public infrastructure, not only
in major cities but across the country. More than 90% of the country’s population lives in urban
areas. The major cities like Tokyo, Osaka, Yokohama and Nagoya have been expanding. People
from across the country migrate to cities like this and have been contributing in the increasing
demand for public infrastructure, commercial complexes and residential spaces. The real estate
sector of the country has also been witnessing positive growth from the past few years. The
positive growth in the economy, high investments and development of public infrastructure &
real estate sector of have been the key drivers for the elevator and escalators market in the
country. All these reasons have collectively catapulted the elevators and escalators market in
the past few years.
After the 2011 earthquake, tsunami and the Fukushima Nuclear Accident a substantial portion
of the country’s infrastructure, was destroyed and needed maintenance and upgradation. The
government has released huge funds for the same and is expanding the public services. Japan
has a high life expectancy rate and in recent years the number of children born in the country
has decreased. Both these factors have resulted in ageing of population in the country. This is
another factor that has affected the elevator and escalator market in a positive manner. The
overall elevator and escalator market in the country is highly organized and concentrated and
with the takeover of Schindler’s Japanese business by Otis the concentration has even grown
further. Other prominent players in the market include; Kone, FujiTec, Mitsubishi,
ThyssenKrupp, Hitachi and Toshiba. The market for elevators and escalators has been growing
gradually in Japan and is expected to continue the ascent in the future.
The report titled “Japan Elevators and Escalators Market by New Equipment Installation &
Maintenance & Modernization, by Elevator (by End Usage, by Type of Machinery, by Door
Types and by Sector) and by Escalator (by End Usage and by Escalators and Moving
Walkways) - Outlook to 2022” by Ken Research suggested a growth at a positive CAGR in