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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Escalators and Elevators Market Share
Escalators are increasingly preferred as they provide accessibility for people with disabilities and the elderly, as well as ensuring safety in crowded public spaces.
Escalators integrated with smart building systems offer benefits such as automated fault detection, traffic flow optimization, and seamless connectivity with building management systems, further driving their adoption in modern buildings and infrastructure projects.
Moving walkways efficiently move passengers across large distances within airports, train stations, and shopping centres, improving overall passenger flow, and reducing congestion.
Modernisation services contribute to the escalators and elevators market revenue by improving the safety and accessibility of escalators and elevators via installing features such as emergency communication systems and tactile buttons for visually impaired users.
Modernization services enhance the user experience by upgrading escalators and elevators with features such as destination dispatch systems, touchscreen interfaces, and multimedia displays.
Building owners and developers seek unique solutions that align with their architectural vision and enhance the aesthetic appeal of their properties, driving demand for new installation services.
Escalators and Elevators Market Report Snapshots
Escalators and Elevators Market Size
Escalators and Elevators Market Growth
Escalators and Elevators Market Trends
Escalators and Elevators Market Share
Escalators and Elevators Companies
Escalators and Elevators Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The major market drivers include the growing adoption of escalators and elevators in the aviation sector, the robust growth of the commercial sector, and the surging demand for sustainable manufacturing of escalators and elevators.
The key trends driving the market growth include the rising demand for elevators and escalators in the pipeline sector and the increasing adoption of advance tools to minimise cost and labour of manufacturing elevators and escalators.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the type, which includes escalator, elevators, moving walkways, and others.
The market is categorised according to the services, which includes modernization, new installation, and maintenance and repair.
Based on the end use, the market is divided into residential, commercial, institutional, and others.
The market key players are Mitsubishi Electrical Corporation, Toshiba Corporation, Schindler Group, Thyssenkrupp AG, Hyundai Elevator Co. Ltd., Fujitec Co. Ltd., and KONE Elevator India Private Limited, among others.
The revenue generated from the escalators and elevators market is expected to reach USD 227.21 billion in 2032.
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