Elevator and Escalator Market Size, Share, and Analysis, By Type (Elevators, Escalators, and Moving Walkways), By Service (New Installation, Maintenance & Repair), By Elevator Technology (Traction, Machine-Room-less, and Hydraulics), By End-User (Residential, Commercial, and Industrial), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
Elevator and Escalator Market Size, Share, and Analysis, By Type (Elevators, Escalators, and Moving Walkways), By Service (New Installation, Maintenance & Repair), By Elevator Technology (Traction, Machine-Room-less, and Hydraulics), By End-User (Residential, Commercial, and Industrial), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Elevator and Escalator Market is anticipated t%li%exhibit a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast span from 2024 t%li%2034. In 2023, the market size was assessed at USD 103.5 billion and is projected t%li%reach USD 215.8 billion by the completion of 2034.
Elevators are vertical transport systems which are used t%li%move people or goods between different floors within buildings. They consist of a cab or platform that travels along a track within a shaft, that is typically powered by a motor-driven pulley system. It provide convenience, accessibility, and space optimization in multi-story structures. On the other hand, escalators are inclined moving stairs which are designed t%li%transport individuals between different levels of a building. They operate on a looped track system, with steps moving at a constant speed and are powered by motors or gears. Escalators offers continuous circulation of passengers in high-traffic areas and enhance pedestrian flow in locations like shopping malls, airports, and train stations. Consequently, both elevators and escalators play significant roles in modern infrastructure, combined with improving mobility and accessibility within built environments while ensuring efficient movement of people.
MARKET HIGHLIGHTS
Elevator and Escalator Market is projected t%li%reach USD 215.8 billion over the forecast period, owing t%li%factors including swift urbanization and the construction of high-rise buildings across the world. Emerging economies are playing a major role in this growth due t%li%their urban development and infrastructure projects. Additionally, improvements in technology, such as smart elevators and escalators that are equipped with better safety features, are gaining traction across different regions. There is a noticeable shift towards sustainable practices within the industry due t%li%the growing focus on energy efficiency and eco-friendly solutions. Moreover, major industry players are heavily investing in research and development t%li%introduce innovative products that address the evolving customer demands and regulatory standards. Therefore, the elevators and escalators market will likely witness sustained growth as urban populations will continue t%li%rise, which will drive the need for efficient vertical transportation solutions across the world.
Elevator and Escalator Market Segments:
Growth Drivers
Infrastructure Development and Urbanization will Create Growth Opportunities
Innovations in Technology will Cause Market Expansion
Restraint
Astronomical Initial Expenses may Prevent the Industry's Growth
Key Players
PRODUCT OVERVIEW
Elevator and Escalator Market is anticipated t%li%exhibit a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast span from 2024 t%li%2034. In 2023, the market size was assessed at USD 103.5 billion and is projected t%li%reach USD 215.8 billion by the completion of 2034.
Elevators are vertical transport systems which are used t%li%move people or goods between different floors within buildings. They consist of a cab or platform that travels along a track within a shaft, that is typically powered by a motor-driven pulley system. It provide convenience, accessibility, and space optimization in multi-story structures. On the other hand, escalators are inclined moving stairs which are designed t%li%transport individuals between different levels of a building. They operate on a looped track system, with steps moving at a constant speed and are powered by motors or gears. Escalators offers continuous circulation of passengers in high-traffic areas and enhance pedestrian flow in locations like shopping malls, airports, and train stations. Consequently, both elevators and escalators play significant roles in modern infrastructure, combined with improving mobility and accessibility within built environments while ensuring efficient movement of people.
MARKET HIGHLIGHTS
Elevator and Escalator Market is projected t%li%reach USD 215.8 billion over the forecast period, owing t%li%factors including swift urbanization and the construction of high-rise buildings across the world. Emerging economies are playing a major role in this growth due t%li%their urban development and infrastructure projects. Additionally, improvements in technology, such as smart elevators and escalators that are equipped with better safety features, are gaining traction across different regions. There is a noticeable shift towards sustainable practices within the industry due t%li%the growing focus on energy efficiency and eco-friendly solutions. Moreover, major industry players are heavily investing in research and development t%li%introduce innovative products that address the evolving customer demands and regulatory standards. Therefore, the elevators and escalators market will likely witness sustained growth as urban populations will continue t%li%rise, which will drive the need for efficient vertical transportation solutions across the world.
Elevator and Escalator Market Segments:
- By Type
- Elevators
- Escalators
- Moving Walkways
- By Service
- New Installation
- Maintenance & Repair
- By Elevator Technology
- Traction
- Machine-Room-less
- Hydraulics
- By End-User
- Residential
- Commercial
- Industrial
Growth Drivers
Infrastructure Development and Urbanization will Create Growth Opportunities
Innovations in Technology will Cause Market Expansion
Restraint
Astronomical Initial Expenses may Prevent the Industry's Growth
Key Players
- Schindler Group
- Otis Elevator Company
- KONE Corporation
- Mitsubishi Electric Corporation
- Fujitec Co., Ltd.
- Thyssenkrupp Elevator AG
- Hitachi, Ltd.
- Toshiba Elevator and Building Systems Corporation
- Hyundai Elevator Co., Ltd.
- Sigma Elevator Company
- Canny Elevator Co., Ltd.
- SJEC Corporation
- Wittur Group
- Zhejiang Meilun Elevator Co., Ltd.
- Yungtay Engineering Co., Ltd.
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Elevator and Escalator Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Elevator and Escalator Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.ELEVATOR AND ESCALATOR MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porters Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.ELEVATOR AND ESCALATOR MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1. By Type
11.3.1.1. Elevator
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Escalator
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Moving Walkaways
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Service
11.3.2.1.New Installation
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Maintenance and Repair
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Elevator Technology
11.3.3.1.Traction
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Machine-Room-less
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Hydraulics
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End-User
11.3.4.1.Residential
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Commercial
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Industrial
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Type
12.3.2. By Service
12.3.3. By Elevator Technology
12.3.4. End-User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Type
13.3.2. By Service
13.3.3. By Elevator Technology
13.3.4. End-User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Type
14.3.2. By Service
14.3.3. By Elevator Technology
14.3.4. End-User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Type
15.3.2. By Service
15.3.3. By Elevator Technology
15.3.4. End-User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Type
16.3.2. By Service
16.3.3. By Elevator Technology
16.3.4. End-User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Schindler Group
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Otis Elevator Company
18.3. KONE Corporation
18.4. Mitsubishi Electric Corporation
18.5. Thyssenkrupp Elevator AG
18.6. Fujitec Co., Ltd.
18.7. Hitachi, Ltd.
18.8. Toshiba Elevator and Building Systems Corporation
18.9. Hyundai Elevator Co., Ltd.
18.10. Sigma Elevator Company
18.11.Canny Elevator Co., Ltd.
18.12. SJEC Corporation
18.13. Wittur Group
18.14. Zhejiang Meilun Elevator Co., Ltd.
18.15. Yungtay Engineering Co., Ltd.
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Elevator and Escalator Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Elevator and Escalator Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.ELEVATOR AND ESCALATOR MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porters Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.ELEVATOR AND ESCALATOR MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1. By Type
11.3.1.1. Elevator
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Escalator
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Moving Walkaways
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Service
11.3.2.1.New Installation
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Maintenance and Repair
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Elevator Technology
11.3.3.1.Traction
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Machine-Room-less
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Hydraulics
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End-User
11.3.4.1.Residential
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Commercial
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Industrial
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Type
12.3.2. By Service
12.3.3. By Elevator Technology
12.3.4. End-User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Type
13.3.2. By Service
13.3.3. By Elevator Technology
13.3.4. End-User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Type
14.3.2. By Service
14.3.3. By Elevator Technology
14.3.4. End-User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Type
15.3.2. By Service
15.3.3. By Elevator Technology
15.3.4. End-User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA ELEVATOR AND ESCALATOR MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Type
16.3.2. By Service
16.3.3. By Elevator Technology
16.3.4. End-User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Schindler Group
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Otis Elevator Company
18.3. KONE Corporation
18.4. Mitsubishi Electric Corporation
18.5. Thyssenkrupp Elevator AG
18.6. Fujitec Co., Ltd.
18.7. Hitachi, Ltd.
18.8. Toshiba Elevator and Building Systems Corporation
18.9. Hyundai Elevator Co., Ltd.
18.10. Sigma Elevator Company
18.11.Canny Elevator Co., Ltd.
18.12. SJEC Corporation
18.13. Wittur Group
18.14. Zhejiang Meilun Elevator Co., Ltd.
18.15. Yungtay Engineering Co., Ltd.
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
