Turkey Elevator and Escalator Market Post a Healthy Growth Rate of More Than 7% and 5% by 2019
Market outlook of the elevator and escalator market in Turkey
Elevators and escalators are installed in commercial, residential, and mixed-use buildings such as IT parks, hotels, restaurants, and retail outlets. The market for elevators and escalators in Turkey is positively influenced by the introduction of various supportive government initiatives, which aims to improve the overall economy of the market. During the forecast period, Technavios market research analysts estimate the market for elevators and escalators in Turkey to post a healthy market growth rate of more than 7% and 5%, respectively.
In this market research report, analysts envisage factors like the growth of the healthcare sector to drive market growth during the forecast period. Recent government initiatives that focus on expanding the healthcare sector are also expected to influence the market positively. Additionally, the construction of the Ankara Etlik health campus in this region is expected to boost the prospects for growth in this market.
Competitive landscape and key vendors
This market is characterized by the presence of numerous international and local vendors. The international players provide their equipment and services for large projects, whereas domestic vendors provide similar services to smaller projects majorly handled by SMEs and other small construction contractors.
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