(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 07, 2024 (GLOBE NEWSWIRE) -- The "Brazil Elevators and Escalators - market Size & Growth Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Brazil elevator and escalator market is expected to grow at a CAGR of 5.23% from 2023 to 2029.
Brazil is one of the major countries in Latin America and globally. The country's warehouse and logistics industry has great potential, leading to increased demand for commercial elevators and elevators in other categories and boosting the Brazilian elevator and escalator market's growth. Brazil is also part of the EU-MERCOSUR agreement, which involves the trade of goods and services. The Brazil elevator and escalator market is led by three major manufacturers: Otis, Schindler, and TKE. Notably, Atlas Schindler, the largest firm in the country, expanded its factory by 7,200 square meters in September 2019. This expansion supports not only Brazil but also exports 25% of its production to Chile, Colombia, and Mexico.
Otis Brazil has made significant strides, completing a three-year project to modernize 13 elevators in Sao Paulo's Birmann 21 building. Among the upgrades, 11 elevators now feature Otis SkyRise technology, including the fastest units in Brazil operating at 7 m/s. Additionally, one elevator received control and aesthetic improvements with Flex Drive technology, and another was replaced with a machine room-less Gen2 elevator.
KONE has also been active in Brazil, delivering six new escalators and ten elevators to Mater Dei Hospital in Minas Gerais. Additionally, the FIOCRUZ Center for Research Innovation and Surveillance in COVID-19 and Health Emergencies received five KONE E-MONOSPACE elevators within 95 days of signing the contract. These developments highlight the dynamic nature of the elevator and escalator industry in Brazil, driven by innovation and timely delivery of advanced solutions.
Machines and appliances account for 26.6% of EU exports to Brazil, followed by chemical products (23.6%) and transportation equipment (13.6%). With interests in several sectors of the Brazilian economy, the EU is the largest foreign investor in the country. Morumbi Shopping in Sao Paulo, Brazil, has announced its sixth expansion. The owner is investing R$ 233 million, including 13,141 m2, 7,377 m2 of Gross Leasable Area (GLA), and relocating a 5,764 m2 mix. The company notes that construction began in March 2024, with the inauguration scheduled for H1 2026.
Specialized projects are concentrated in Sao Paulo and Rio de Janeiro, with 62.3% of the area volume operational. Currently, 115 thousand sqm is under construction, with 77.4% distributed in Parana and Minas Gerais. The largest ongoing project is Sao Paulo city's metro line No. 6, which is estimated to cost US$3 billion and is managed by a consortium led by Spanish company Acciona. Spanning 15.3 kilometers and featuring 15 stations, it is hailed as Latin America's most extensive infrastructure endeavor currently in progress. The PPP agreement was signed between the state and the consortium Linha Universidade, which included Acciona, Societe Generale, and STOA Infra & Energy.
MARKET DRIVERS
Tourists Arrival in Brazil to Boost the Hotel Accommodation
The region is expected to set a record in international tourist arrivals in the current year after its inbound numbers jumped by 62.7 pc in 2023, says the Brazilian Tourism Ministry. Last year, the country welcomed 5,908,341 foreign visitors, 62.7% higher than in 2022 and slightly below the pre-pandemic 2019 figure when 6.3 million foreign tourists visited the country. These figures are from Embratur, the Ministry of Tourism, and the Federal Police. The result also exceeded the World Tourism Organization's projections for the country by 3%. According to the data, Argentina is sending the most tourists to the country, with 1.9 million visitors, or 32% of the total.
Rise in Luxury Properties to Boost Demand for Lavish Elevators
Brazil has become a key destination for buying luxury villas and houses, creating huge demand for luxury houses. It has resulted in a significant rise in house prices in the past five years. Rental yields in prominent cities like Sao Paulo and Rio de Janeiro have risen between 5% and 7.5%, providing huge cash flow for rental property owners.
REGIONAL ANALYSIS
Brazil Demographic Distribution
In Brazil, residential construction constitutes around 80% of the building industry, with the remaining share primarily comprised of office buildings and warehouses. Social housing, predominantly multifamily units, accounts for roughly half of the residential sector, while non-social multifamily and single-family detached homes make up approximately 25%. Financing for social housing is facilitated through FGTS (Fundo de Garantia do Trabalhador Social), and the leading industry association is CBIC (Brazilian Chamber of the Building Industry). In June 2021, the International Finance Corporation (IFC) joined forces with CBIC to enhance the energy efficiency of existing buildings across the region by adopting EDGE (Excellence in Design for Greater Efficiencies) certification. To obtain EDGE certification, a building construction project should save a minimum of 20% of the energy compared to a conventional building. IFC developed free software as a part of the EDGE certification to design an energy-efficient building with the least environmental impact and minimum operational costs.
KEY QUESTIONS ANSWERED:
What will be the growth rate of the Brazil elevator and escalator market? How big is the Brazil elevator and escalator market? What is the number of installed bases in the Brazil elevator and escalator market in 2023? What are the key opportunities in the Brazil elevator and escalator market? What are the key Brazil elevator and escalator market players?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 122 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value in 2023 | 13603 Units |
| Forecasted Market Value by 2029 | 18473 Units |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Brazil |
VENDOR LANDSCAPE
Key Vendors
Schindler Otis KONE TK Elevator Hitachi Hyundai Elevator Fujitec
Other Prominent Vendors
Wittur GMV Vega Lifts Schmersal Elevators Draka Elevator Giovenzana Villarta Elevators
Elevator Market Segmentation
Machine Type
Hydraulic and Pneumatic Machine Room Traction Machine Room Less Traction Others Climbing Elevators Industrial Elevators
Carriage Type
Capacity
2-15 Persons 16-24 Persons 25-33 Persons 34 Persons and Above
End-User
Commercial Residential Industrial Others Public Transit Institutional Infrastructural
Escalator Market Segmentation
Product Type
Parallel Multi Parallel Walkway Crisscross
End-User
Public Transit Commercial Others Institutional Sector Infrastructure Industrial
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Brazilian Elevators and Escalators - Market
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