Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- The "Poland Elevator and Escalator - Market Size & Growth Forecast 2023-2029" report has been added to ResearchAndMarkets.com's offering.
The Poland elevator and escalator market size by new installations was estimated at 4.4 thousand units in 2022 and is expected to reach 5.3 thousand units by 2029, growing at a CAGR of 2.68% during the forecast period (2023-2029).
During 2021-2030 the Poland railway will receive USD 75 billion under its National Railway Program (NRP). Two hundred thirty infrastructure projects had been planned by PKP Polskie Linie Kolejowe (PKP PLK) with a budget of USD 18.7 billion. USD 2.6 billion worth of projects have been completed, and USD 10 million is in progress.
Major changes have taken place in Poland's transportation systems in past years as the development of Intelligent Transport Systems (ITS). Under the EU funding scheme, the polish government had planned to fund USD 17.5 billion from 2024-2023 to railway infrastructure and USD 36.6 billion in road infrastructure.
Cordia, an Urban generation project, was planned in Poznan. The project involves a 21,000 sqm plot that was once a garment factory. The initial phase of this project began in 2021 and is anticipated to be completed by 2023.
Rising Building Developments to Drive the Poland Elevator and Escalator Market
National Plan for Reconstruction and Increasing Resilience under the lift industry in Poland with The Polish Association of Lift Manufacturers (PALM) as public consultation. The project involves the modernization and extension of passenger lifts in multi-family residential buildings and public and healthcare buildings. This will create opportunities for the market for Poland elevator and escalator.
The Polish government had allocated USD 7.5 billion towards building activities, and almost USD 4.2 billion was assigned for the reconstruction and renovation of building activities.
Kosakov Residential Community, with an area of 34,600m2 and an investment of USD 175 million, involves the construction residential community comprising 642 apartments in Pomeranian Voivodeship. Construction work is anticipated to be completed in 2024.
Between January and March 2022, the office sector saw the highest delivered quarterly supply in recent years, with more than 333,000 sqm of office space completed in Poland.
With the assistance of the Warsaw Archdiocese Roma Tower, a 170-meter building project is being piloted by BBI Development. The mixed-use development of 55,000 sqm will include office space and a luxury hotel and is anticipated to be completed by 2026.
Governments Effort to Expand Infrastructure Across Nation to Increase Demand for New Installations
Major international firms are considering relocating from Russia as well as from Ukraine. They could not operate due to various social and economic reasons in these areas and are looking for the nearest place where they can resourcefully trace investments. Driving investments and relocating firms to Poland will push the Poland elevator and escalator market growth.
The concept of the Central seaport in Gdansk was ready for environmental assessment and public discussion, followed by approval; the estimated capital for this project is around USD 1.57-2.0 billion and is expected to be completed by 2029.
Around USD 21.5 million had been provided by the European Investment Bank (EIB) as of September 2020 for rehabilitating and building 250 social and affordable housing units in Szczecin, Poland. The primary goal was to contribute to an urban regeneration and energy efficiency program for a historical city that will propel the Poland elevator and escalator market growth.
The elevator opened in October 2022 on the Oder-Havel Canal, replacing the lift built in 1934, which no longer can withstand the modern maritime traffic, hoists boats up 36 meters to enable travel from the Polish port of Szczecin to Berlin.
USD 2.2 billion were allotted by the Polish Ministry of Finance and Regional Policy to execute urban transportation projects. USD 499.9 million are spent on rolling stock, USD 108.5 million on digitization, and USD 1.6 billion are spent on infrastructure.
Regulation of the Minister of Entrepreneurship and Technology to Increase Demand for Maintenance and Modernization in Poland.
Maintenance and modernization in the Poland elevator and escalator market accounted for 86.1% and 13.9%, respectively, for 2022.
The issues related to handling equipment subject to technical supervision are regulated by national law by the Polish Association of Lift Manufacturers (PALM) in 2019.
As of December 6, 2018, the industry standards for the technical supervision regarding the operation, maintenance, and modernization of handling equipment as per the Regulation of the Minister of Entrepreneurship and Technology of October 30, 2018, became compulsory by law.
VENDOR LANDSCAPE
The top 4 prominent vendors in the Poland elevator and escalator market, including KONE, Otis, TK Elevator, and Schindler, account for 43% of the industry share in Poland.
Key Vendors
- Otis
- KONE
- Schindler
- TK Elevator
- Fujitec
Other Prominent Vendors
- Orona
- GMV Lifts
- Translift
- Wittur
For more information about this report visit https://www.researchandmarkets.com/r/7dbh38
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