MARKET OVERVIEW

Since 2016, the Egyptian government has implemented an ambitious economic reform program that included financial and monetary reforms aiming to achieve rapid and sustainable growth rates, and an inclusive development for Egypt. This program has provided radical solutions to structural economic problems that the Egyptian economy has been suffering from for many years.

9.1% Growth Rate Projected till 2028

According to a recent research, Egypt Elevator and Escalator market size is projected to grow at a CAGR of 9.1% during 2022-2028.

However, the commercial and residential segments are expected to grow in the future due to an increase in FDI and urbanization across all major countries, which would boost the Egypt elevators and escalators market revenues.

Additionally, major hotel chains are expanding their presence across several countries, and large-scale government infrastructure development projects, such as airport expansions, metro expansions, and development of other social infrastructure, are also strengthening the construction sector in the region.

MARKET INSIGHTS

GDP from Construction in Egypt increased to 345.2 EGP Billion in the fourth quarter of 2023 from 275.3 EGP Billion in the third quarter of 2023.

GDP from Construction in Egypt averaged 65 EGP Billion from 2007 until 2023, reaching an all time high of 345.2 EGP Billion in the fourth quarter of 2023 and a record low of 7.3 EGP Billion in the first quarter of 2007.