MRO Magazine

Research and Markets: Elevators and Escalators Market in Colombia 2015-2019 – Increase in Urbanization a Major Driver

January 13, 2016
By Business Wire News


Research and Markets ( has announced the addition of the “Elevators and Escalators Market in Colombia 2015-2019” report to their offering.

The market for elevators and escalators in Colombia is expected to show moderate growth during the forecast period and is positively influenced by the increased construction spending in the country. The increased spending on construction activities is expected to boost the number of residential and commercial projects across the country, which results in its slow but moderate CAGR of nearly 5% by 2019.

Looking at the various advantages of MRL lifts, not only in the context of safety but in general, manufacturers in Colombia have gradually started to manufacture MRL elevators. MRL elevators are found to be more economical and efficient in various aspects. The major advantage of these elevators is that there is no need for additional space or for an operator to operate the lift.

According to the report, increase in the urbanization is the one of the major drives in the market. The migration of people from rural to urban areas of the country can be attributed to the better job market in urban areas and better standards of living. In pursuit of a higher standard of living, the rural population of the country is gradually shifting to the urban areas.

Further, the report states that the inefficient transport network in Colombia is considered to be a major challenge for economic growth as well as for the growth of the elevator and escalator market.

Companies Mentioned:

  • KONE
  • Mitsubishi Electric
  • Schindler
  • ThyssenKrupp
  • Ascensores Fujitec
  • Otis Elevators
  • Sigma Elevator.

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Industry overview

PART 06: Market landscape

PART 07: Market segmentation by product

PART 08: Market drivers

PART 09: Impact of drivers

PART 10: Market challenges

PART 11: Impact of drivers and challenges

PART 12: Market trends

PART 13: Vendor landscape

PART 14: Key vendor analysis

For more information visit

Research and Markets
Laura Wood, Senior Manager
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