UAE Elevator and Escalator Market Report 2024: Market Size Projected to Reach 12,794 Units by 2029 - Expanding Residential Construction to Hike Elevators and Escalators Demand [Yahoo! Fina...
MITSUBISHI ELEC UNSP/ADR (MIELY)
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Source: Yahoo! Finance
The UAE Elevator and Escalator Market size consisted of 9,598 units in 2023, and is projected to reach 12,794 units by 2029, showcasing a CAGR of 4.91%. The UAE elevator market by the installed base is expected to reach 94,397 thousand units by 2029. The increasing investment in UAE real estate, which results in the need for passengers to commute between levels, will likely elevate the demand for passenger elevators. Some new megaproject developments in Dubai are the Al Quoz Creative Zone, Dubai Urban Tech District, Mohammed bin Rashid Library, and many more. The tourism industry in the United Arab Emirates is booming, mainly due to an influx of business, sports, leisure, and religious visitors. Dubai and Abu Dhabi are the most popular destinations for international visitors in the United Arab Emirates. With 10.1 million visitors in the first eight months of 2022, Dubai was 4th among the world's most famous cities. With 5.26 million visitors, Abu Dhabi was ranked 94th. As the g
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