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(Hosting-NewsWire.com, December 15, 2017 ) APAC is forecasted to emerge as a fastest growing market with the highest CAGR of 5.1%
The Elevator Modernization market in the region is growing at an exponential CAGR of 5.1% and is expected to reach US$ 3,539.3 Mn in 2025.
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APAC Elevator Modernization the fastest growing region in the elevator modernization market. The major reason for this is the high reconstruction process in China and India. China is the most populated country in the world, and a country with a large number of companies established. As the population is increasing, the need for new constructions as well as reconstruction of older buildings for turning to high rise towers is increasing, leading to increasing demand for modernization of existing elevators to efficient, speedy and safer elevators. As well as development of smart cities in India is leading to infrastructure development and renovation in many major cities of India, leading to increasing demand for modernization of existing elevators. This reconstruction will continue during the forecast period, contributing to high growth of elevator modernization market in the region.
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Global Elevator Modernization Market Players:
1. KONE Corporation
2. United Technologies Corporation
3. Siemens AG
4. Schindler Holding Ltd.
5. Mitsubishi Electric Corporation
6. thyssenKrupp AG
7. Fujitec Co., Ltd.
8. Hitachi, Ltd.
9. HYUNDAIELEVATOR CO., LTD.
10. TOSHIBA CORPORATION.
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Rajat Sahni
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Source: EmailWire.Com
Source: EmailWire.com
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