Elevator & Escalator maintenance services include their essential checkups to identify & resolve any potential problem before something serious happens. Without appropriate maintenance, a faulty part of these systems can remain unnoticed, which can further cause some inconvenience or accidents, high repair costs, and increased downtime.
The UAE Elevator and Escalator Maintenance and Repair Services market is anticipated to grow at a CAGR of 3.2% during the forecast period. The major factor propelling the market growth is the surging number of construction activities coupled with stringent regulations enforced by the government to ensure public safety. In addition to this, expansion of commercial infrastructure and increasing focus towards the non-oil sector are other crucial factors contributing to the overall market growth.
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The leading industry players in the UAE Elevator and Escalator Maintenance and Repair Services Market are Hitachi, Ltd, Middle East Branch, Kone Middle East LLC, Otis LLC, Schindler Middle East, Al-Futtaim Engineering, Nigma Lifts Installation & Maintenance Co, Thyssenkrupp Elevator, and Al Nas Elevator Contracting LLC.
The routine maintenance plan for elevators or escalators helps reduce the chances of replacing them & ensures their constant operation by recognizing & solving the problem before system breakdown. Hence. these aspects associated with elevator & escalator maintenance & repair services are propelling the overall market growth.
Amongst various end-users segmented in the market, the Commercial sector accounts for the largest market share since elevators & escalators are used most frequently in commercial buildings like malls, hospitals, etc., which often lead to their wear & tear of these systems. Hence, they require proper maintenance plans to avoid any chances of accidents.
Moreover, the need for elevator & escalator maintenance & repair services is also increasing across the UAE’s residential sector due to the surging number of skyscrapers in the country with elevators & escalators. These systems installed in high-rise buildings require proper maintenance for their smooth & efficient running. Hence, the demand for maintenance & repair services is significantly increasing in these buildings and contributing to the overall market growth.
The burgeoning tourism & infrastructural developments in the UAE are boosting the demand for elevator & escalator maintenance & repair services to reduce public inconvenience and help elevator & escalator manufacturers maintain a reputed status in the market. Hence, it will further offer profitable growth opportunities for the maintenance & repair service providers in the coming years.