Impact of COVID-19 Pandemic on Turkey Elevator Market
The continuity of the COVID-19 spread would be severely dangerous for the elevator market players. Further, the deteriorating economic conditions, is anticipated to weaken the growth of the Turkish construction sector severely. If the lira continues to get weak, the government has to take action by delaying some of its major infrastructure projects.
Currently, China is dominating the aircraft heat exchanger market in terms of installation, which in turn boost the demand for aircraft heat exchanger market. The commercial aviation sector is booming at a rapid pace, which is providing new opportunities for Chinese airlines as well as international airlines to establish new routes to, from and around China. The boosting demand for commercial aircraft is leading the airlines to order more modern aircraft with enhanced devices and components integrated into the aircraft. As a result of which, the aircraft heat exchanger manufacturers are benefiting from new and advanced technological aircraft orders. The figure given below highlights the revenue share of Rest of Asia-Pacific in the Asia-Pacific aircraft heat exchanger market in the forecast period:
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Market Insights - Turkey Elevator Market
Growing Demand for Smart Elevators
Owing to the technological advancements and acceptance of IoT, as well as AI, the demand for installing smart elevators is also increasing. The smart elevator system comprises new-age digital security system controls, such as touch screen, biometrics, and destination dispatching as well as access control systems. Further, the elevated spending capabilities of customers and need to reduce waiting time of passengers are the major factors driving the adoption of smart elevators. Elevators are the primary mode in the buildings for vertical transportations amid individuals; thus, security is the primary concern in these automated elevator systems. Hence, the manufacturers and builders are focusing on taking security measures to install these elevators across commercial and residential complexes to safeguard their individuals, customers, residents, and employees. Additionally, the integration of biometric and iris recognition are among the advanced features that are used to ease the emerging security concerns. The smart elevators are constantly being upgraded with the integration of security systems to provide protection to the buildings, which is boosting their installation in buildings in Turkey. Such upgrades in the smart elevators are anticipated to drive the Turkey elevator market during the forecast period.
Type-Based Insights - Turkey Elevator Market
Based on type, the Turkey elevator market is segmented into hydraulic elevator, traction elevator, machine-room less (MRL) elevator, and vacuum elevator. The traction elevator segment led the Turkey elevator market in 2019.
Application-Based Insights- Turkey Elevator Market
Based on application, the Turkey elevator market is segmented into residential, commercial, and industrial. The commercial segment led the Turkey elevator market in 2019.
Market initiative is a primarily adopted strategy by the companies to expand their footprint worldwide and meet the growing demand of their customers. The elevator market players are mainly focusing on the development of advanced and efficient products. Engaging in partnerships, contracts, and joint ventures; gathering funding; and inaugurating new offices worldwide permit the companies to maintain their brand names in the global marketplace.
- In 2018, Arkel announced the opening of its Indian subsidiary in Vadodara—Arkel Electronic India Private Ltd. It is the joint venture between Tangent Technologies and Arkel.
The report segments the Turkey elevator market as follows:
- Hydraulic Elevator
- Traction Elevator
- Machine-Room-Less (MRL) Elevator
- Vacuum Elevator
The List of Companies – Distributed Control System Market
- AsirLift Elevator Manufacturer CO.
- AybeyElektronik A.?.
- Delta GreentechElektronik San. Ltd. Sti.
- Mik-el Elektronik San. ve Tic. Ltd. Sti.
- BSB Elevator
- Has Elevator
- ISF Elevator
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