Latin America Elevators and Escalator Market by New Installations Worth $46.8 thousand Units by 2029 – Arizton

Arizton publishes the latest research report, the Latin America elevator and escalator market by new installations to reach 46.8 thousand units by 2029, growing at a CAGR of 3.51% during the forecast period. 

The report considers the present Latin America elevator and escalator market scenario and market dynamics from 2023 to 2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study includes the volume and value of sales with a segment analysis of the Latin America elevator & escalator market. 

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Latin America contributes the least share globally in terms of installed base and new installations. The major share in Latin American countries was Brazil (45%), followed by Argentina (28%). Latin America is one of the most urbanized regions, with irregular settlements and migrations. Developing formal settlements across the region’s urban cities and port activities will develop the elevators & escalators market. 

Green And Yellow Housing Program and Other Residential Developments to Propel Demand for Elevators 

Hydraulic elevators require substantial energy to raise the cab, which is why they are not usually found in high-rise buildings. Pneumatic elevators offer limited mobility and increased independence, which is mostly favored in residential construction. In Itapema, Santa Catarina, Brazil, the project Itapema Shard Tower Residential Complex entails the construction of a residential skyscraper, which is expected to be completed by 2024. ‘Green and Yellow House’ is a program initiated to build 12 million housing units, of which 384,000 units were given to socially vulnerable populations, around 1.5 million in Brazil. The need for housing in major urban cities, where informal settlements are high, is rising, which is increasing the demand for affordable housing schemes in Latin American nations to boost the demand for Hydraulic & Pneumatic elevators. 

Vendor Landscape 

Otis, Schindler, TK Elevator, and KONE are the top 4 manufacturers of the Latin America elevator and escalator market, with a share of over 64%. 

The Latin America launch of the Otis eCall PlusTM app, which offers passengers a contactless intelligent solution to call elevators remotely, Otis Mexico conducted the first regional demonstration of the product installed at the Avalanz Tower in Monterrey, Nuevo León. Avalanz Tower is the fifth tallest skyscraper in San Pedro Garza García and one of the city's most well-known buildings. 

Key Vendors 

• Otis 
• KONE 
• Schindler 
• TK Elevator 
• Mitsubishi Electric 
• Fujitec 
• Hyundai Elevator 

Other Prominent Vendors 

• Wittur 
• GMV ELEVATOR 
• VEGA LIFTS 
• Schmersal 
• Draka Elevator 
• GIOVENZANA INTERNATIONAL B.V. 
• ALAMEX ELEVATOR 

Latin America Elevator and Escalator Market Size (Volume)  

• Installation Base 
• New Installation Type 
• Modernization (In Billion) 
• Maintenance (In Billion) 

Latin America Elevator Market Size (Volume)  

• Installation Base 
• New Installation Type 
• Modernization & Maintenance (In Million) 

Latin America Escalator Market Size by Volume  

• Installation Base 
• New Installation Type 
• Modernization & Maintenance (In Million) 

Latin America Elevator and Escalator Size, Share, & Trends Analysis Report by  

Elevator Market Segmentation 

• Machine Type: Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others (Climbing Elevators and Industrial Elevators) 
• Carriage Type: Passenger and Freight 
• Capacity:2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above 
• End-User: Commercial, Residential, Industrial, and Others (Public Transit, Institutional, and Infrastructural) 

Escalator Market Segmentation 

• Product Type: Parallel, Multi Parallel, Walkway, and Crisscross 
• End-User: Public Transit, Commercial, and Others (Institutional Sector, Infrastructure & Industrial) 

Check Out Detailed TOC @ https://www.arizton.com/market-reports/latin-america-elevator-and-escalator-market?details=tableOfContents 

Key Questions Answered in the Report: 

• How big is the Latin America elevator and escalator market? 
• What will be the growth rate of the Latin America elevator and escalator market? 
• What is the number of installed bases in the Latin America elevator and escalator market in 2022? 
• What are the key opportunities in the Latin America elevator and escalator market? 
• What are the key Latin American elevator and escalator market players? 

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