Germany smart elevators market is estimated to grow considerably, at a CAGR of 14.2% during the forecast period. Germany is estimated to contribute significantly in the European market over the forecast period owing to significant growth in the building & construction industry across the country. The urbanization rate in the country is showing a flat growth in some years. In Germany, the housing market is facing strong demand fueled by rising incomes, low-interest rates as well as high levels of net migration. It is estimated that 3.6 million migrants will have arrived in Germany by 2020. There is housing demand for at least 350,000 new dwellings per year.
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