Turkey Escalators Market Outlook

turkey's escalator market is characterized by a combination of long-term trends and on-going developments driving the demand for advanced solutions. while the elevator market continues to grow at an impressive rate in terms of market size and overall value, the escalator segment is experiencing a slower growth due to high entry cost and low demand for services outside of the major cities. looking at the underlying factors of the escalator market in turkey, there are a number of trends that are expected to drive the market during the forecast period from 2018 to 2032. one of the most significant threats within the escalator industry is the increasing cost of gas and electricity, which has weighed heavily on the profitability of companies in this space. however, efforts are being made to reduce the electricity prices in order to increase the efficiency of operations and minimize operational costs. another key factor driving the market is the government’s efforts to promote the usage of escalators in public spaces. the government of turkey is attempting to reduce the impact of accidents and is increasing the number of escalators providing access to people of all ages. furthermore, the use of escalators in public spaces has increased due to the introduction of the building and zoning regulations. consequently, the government’s efforts are expected to create a steady demand for these products. in terms of technology, advancements in integrated escalator systems technology are expected to propel the market’s growth over the forecast period. with the integration of motion sensors and advanced analytics, escalators are becoming more efficient and cost-effective. finally, the rapidly growing hospitality industry in the country is also expected to propel the demand for escalators. hotels, resorts and shopping malls are increasingly installing escalators in their premises in order to make them more attractive to customers. as the number of visitors to these places increases, so too will the demand for escalators. all in all, with the increasing cost of electricity and the efforts by the government to promote their usage, the escalator market in turkey is expected to maintain a steady growth during the forecast period from 2018 to 2032. the rising popularity of integrated systems and the growing number of public spaces utilizing them are expected to further boost the demand for these products in the coming years.