Middle East & Africa Elevators Market Outlook

the middle east and africa (mea) elevator industry has been growing rapidly in recent years, and is expected to reach a revenue of usd 21.5 billion by 2025. this growth can be attributed to the increasing demand from the region’s diverse economies, as well as the vast investment opportunities, particularly in construction activities. the mea elevators market is projected to register a cagr of 6.4% from 2018 to 2032. the rising urbanization has been one of the primary factors driving the demand for mea elevators. according to a report by the united nations, the urban population in the mea region is expected to rise by around 20% during 2018-2022, indicating the immense potential of the market for elevators at this point of time. additionally, the rising trend of modernization in the countries has also pushed the demand for elevators in the mea context. the increasing trend of using elevators for security and safety is also becoming one of the primary drivers of the mea elevator market. there has been a particular focus on safety and security due to unprecedented events like the 9/11 terror attacks and other natural disasters in the region. this has led to the adoption of sophisticated technologies such as cctv, access control systems, and advanced emergency communication systems for elevators. another key factor positively impacting the mea elevators market is the government's efforts to boost the construction sector. in recent years, countries like saudi arabia, the united arab emirates, qatar, and egypt have announced a number of initiatives to combine their efforts in order to build large infrastructure projects such as smart cities, user-friendly transportation, and waste management systems. these activities would undoubtedly have a notable impact on the demand for elevators. furthermore, the increasing demand for energy-efficient technologies in the region has propelled the growth of the mea elevators market. energy-efficient products have greatly helped reduce energy consumption and emissions, leading to increased cost savings in the long run. this has consequently led to the expansion of energy-efficient technologies in the elevators sector in the mea. overall, the mea elevators market is expected to be one of the most vibrant and lucrative markets in the years to come. the impact of factors such as advances in technology, government investments, and increasing urbanization will continue to drive the demand for elevators in the region.