Freight Elevators Market Overview
A Freight elevator or goods lift is installed to carry goods rather than passengers or peoples. Generally, freight elevators have a load carrying capacity of 2,000-4,500 kg. Further, use of freight elevators to carry passengers is highly restricted due to lack of enough safety measurements in freight elevators. Freight elevators are very large in size and have a very wide range of application such as, industrial truck loading, car carrying and others.
Market Size & Forecast
Global freight elevator market is anticipated to witness a robust growth during the forecast period 2017-2024. Development of new industries and adoption of freight elevators in such industries is expected to propel the demand for freight elevator globally over the forecast period.
In terms of region, global freight elevator market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America regions. In terms of share, Asia Pacific region is dominating the global freight elevator market and anticipated to become fastest growing market of freight elevator over the forecast period. Emerging economics such as India and China are the dominating countries contributed towards the growth of freight elevator market in Asia Pacific region. Additionally, development of new industries and increasing infrastructure investment in these countries is expected to propel the demand for freight elevators in Asia Pacific region over the forecast period 2017-2024. North America is accounted to witness a satisfactory growth during the forecast period. This growth of freight elevator in North America region can be attributed to factors such as high technology adoption rate coupled with established infrastructure solution in this region. However, economic decline in recent past is expected to slow down the growth of freight elevator market in these regions over forecast period. Apart from this, Latin America is also expected to witness a satisfactory growth in the terms of revenue of overall freight elevator market over the forecast period due to rising infrastructure development activities in the region.
Our-in depth analysis of the global freight elevator market includes the following segments:
By End User
Global freight elevator market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Increasing demand for freight elevator from different sector such as hospitals and industries are some of the major factors driving the global freight elevator market growth. Further, development of new skyscrapers all over the globe and rising need to transport goods from floor to floor is also a major factor driving the growth of global freight elevator market.
Freight elevators offer convenient features such as; easy transportation of intensely large size goods as well as the safety of goods while transporting. Some advanced freight elevators such as hydraulic freight elevators and bed freight elevators offer additional abilities and are likely to spur the demand for freight elevators in near future. In terms of operating cost, the freight elevators are very cost efficient. Apart from this, manufacturers of freight elevators are focusing on the development of more efficient freight elevators in terms of operating cost. This factor is likely to propel the demand for freight elevators in near future.
However, high cost of freight elevators is a major restraining factor for the growth of global freight elevator market. Moreover, low travelling speed of
Scope & Context
Overview of the Parent Market
The global freight elevators phone market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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