Elevator Market in Indonesia Rides High on Urbanization, Finds Frost & Sullivan

Elevator Market in Indonesia Rides High on Urbanization, Finds Frost & Sullivan PR Newswire JAKARTA, Indonesia, Nov. 28, 2012 - Investment on construction remains the prime focus of Indonesia JAKARTA, Indonesia, Nov. 28, 2012 /PRNewswire/ -- The Indonesian market for elevators is one of the fastest growing markets in Southeast Asia, after Vietnam. Increasing population numbers and shift from rural to urban areas have led to an increase in construction activities in the metropolitan areas of the country, such as Jakarta and Surabaya. This has created a vast market for elevators and is expected to drive market growth over the next five years. The construction and modernization of airports in Jakarta have further boosted the demand for elevators. New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), entitled Elevators Market in Indonesia, finds that the market earned revenues of US$164.0 million in 2011 and estimates this to reach US$282.4 million in market revenues by 2016. "As end users become increasingly comfortable with technology, they will look to adopt more modern mobility systems," said Frost & Sullivan Research Analyst Vidhi Yaduvanshi. "Hence, most of the upcoming buildings are equipped with elevators and escalators to ensure free and unrestricted mobility. The renewed focus on efficient use of space within a building means that an effective use of elevators is encouraged which will also drive the market.