Dublin, May 11, 2022 (GLOBE NEWSWIRE) -- The "UK Elevators and Escalators - Market Size & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The report considers the present scenario of the UK elevators & escalators market and market dynamics for 2022-2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the UK elevators & escalators market.
The UK Elevators and escalators market is expected to grow at a CAGR of 4.7% during the forecast period.
KEY HIGHLIGHTS IN THE REPORT
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According to the World Economic Forum, more than 500 smart cities are being built around the UK. For instance, the Cloud Valley project launched in April 2021 with a 13 million square feet area that uses Wi-Fi-connected devices and sensors to gather data on everything from people's food habits to pollution.
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In the UK, little over 80% of housing is classified as urban, while 19% is rural. This varies by country, with Wales and Northern Ireland having the most rural areas.
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In 2019, there are about 270 existing high-rise buildings and structures in the UK, with over 70% of them in London. Only 17 high-rise structures in the UK are taller than 150 meters (492 feet), and only one is taller than 300 meters, the Shard in London.
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The latest World Bank Ease of Doing Business, 2021 ranking placed the UK as the eight best in the European Union for dealing with construction permits.
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Nearly USD 2.8 billion will be invested by the government of the UK into building new homes on unused or derelict land in England. According to the government of the UK, 160,000 greener homes are to be built on brownfield land the size of 2,000 football pitches
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According to the Office for National Statistics, the UK's urban area covers around 1.77 million hectares. Natural land cover accounts for 0.54 million hectares (30.7%), compared to 0.53 million (31.0%) in 2017. Scotland has the greenest urban areas on average (36.4%).
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Population projections from 2015 to 2025 demonstrate cities have a percentage growth rate of 7.6% compared to the UK growth rate of 6.7%. Bristol, Greater London, the West Midlands, and Edinburgh city regions all have higher projected population growth rates than the UK. Increasing population to boost urbanization trend which is further likely to surge elevators & escalators market in the UK.
UK ELEVATORS & ESCALATORS MARKET SEGMENTATION
Segmentation by Type
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Hydraulic and Pneumatic
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Machine Room Traction
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Machine Room Less Traction
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Others