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Elevator and Escalator Market by Type (Elevators, Escalators, Moving Walkways), Service (New Installation, Maintenance and Repair, Modernization), End Use (Residential, Commercial), and Region 2023-2028

January 2023 | 143 pages | ID: E3AE2C7C6D48EN
IMARC Group

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The global elevator and escalator market size reached US$ 145.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 203.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.60% during 2023-2028.

An elevator is a closed cabin operated by electric motors that drive traction cables, counterweight systems, and pump hydraulic fluid to raise a cylindrical piston. It is a capable vertical mobility solution that uses urban space efficiently and makes movement in buildings possible. On the other hand, an escalator is a moving staircase and conveyor transport device used for carrying people in a building from one floor to another. It comprises a motor-driven chain of individual, linked steps that move up and down on tracks to allow the step treads to remain horizontal.

Elevator and Escalator Market Trends:
The increasing adoption of elevators and escalators in residential, commercial, and industrial spaces represents one of the major factors bolstering the growth of the market around the world. Moreover, the expanding number of modernizing and renovation activities in commercial locations, such as offices, shopping malls, airports, hospitals, and hotels, for enhanced safety and aesthetic appeal is favoring the market growth. In addition, key players are introducing smart elevators and escalators that are integrated with predictive maintenance, big data analytics, the internet of things (IoT), artificial intelligence (AI), Bluetooth, Wi-Fi, and long-term evolution (LTE) technologies. They are faster and more reliable and assist in improving the operational efficiency and safety of the elevator and escalator while lowering energy costs as compared to conventionally used elevators and escalators. Apart from this, rapid urbanization, expanding global and working population, and growing investments in the development of smart cities by governments of numerous countries are creating a positive outlook for the market. Furthermore, significant improvements in existing infrastructural development and extensive research and development (R&D) activities by leading players are anticipated to strengthen the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global elevator and escalator market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, service and end use.

Breakup by Type:

Elevators
Escalators
Moving Walkways

Breakup by Service:

New Installation
Maintenance and Repair
Modernization

Breakup by End Use:

Residential
Commercial
Offices
Hospitality
Mixed Block
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Canny Elevator Co. Ltd., Electra Elevators., Fujitec Co. Ltd., Gulf Elevators & Escalators Co. Ltd., Hitachi Ltd., Hyundai Elevator Co. Ltd., Johnson Lifts Private Limited, Kleemann Group, KONE Corporation, Mitsubishi Electric Corporation, Otis Elevator Company (I). Ltd (Otis Worldwide Corporation), Schindler Holding Ltd., Sigma Elevator Company and Toshiba Elevator and Building Systems Corporation (Toshiba Corporation). Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global elevator and escalator market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global elevator and escalator market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the service?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global elevator and escalator market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL ELEVATOR AND ESCALATOR MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Elevators
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Escalators
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Moving Walkways
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY SERVICE

7.1 New Installation
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Maintenance and Repair
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Modernization
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY END USE

8.1 Residential
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Commercial
  8.2.1 Market Trends
  8.2.2 Key Segments
    8.2.2.1 Offices
    8.2.2.2 Hospitality
    8.2.2.3 Mixed Block
    8.2.2.4 Others
  8.2.3 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Canny Elevator Co. Ltd.
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
  14.3.2 Electra Elevators
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
  14.3.3 Fujitec Co. Ltd.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
  14.3.4 Gulf Elevators & Escalators Co. Ltd.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 Hitachi Ltd.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
    14.3.5.4 SWOT Analysis
  14.3.6 Hyundai Elevator Co. Ltd.
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
  14.3.7 Johnson Lifts Private Limited
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
  14.3.8 Kleemann Group
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
  14.3.9 KONE Corporation
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 Financials
  14.3.10 Mitsubishi Electric Corporation
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11 Otis Elevator Company (I). Ltd (Otis Worldwide Corporation)
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials
  14.3.12 Schindler Holding Ltd.
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio
    14.3.12.3 Financials
    14.3.12.4 SWOT Analysis
  14.3.13 Sigma Elevator Company
    14.3.13.1 Company Overview
    14.3.13.2 Product Portfolio
  14.3.14 Toshiba Elevator and Building Systems Corporation (Toshiba Corporation)
    14.3.14.1 Company Overview
    14.3.14.2 Product Portfolio
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report

LIST OF TABLES

Table 1: Global: Elevator and Escalator Market: Key Industry Highlights, 2022 & 2028
Table 2: Global: Elevator and Escalator Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Elevator and Escalator Market Forecast: Breakup by Service (in Million US$), 2023-2028
Table 4: Global: Elevator and Escalator Market Forecast: Breakup by End Use (in Million US$), 2023-2028
Table 5: Global: Elevator and Escalator Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Elevator and Escalator Market: Competitive Structure
Table 7: Global: Elevator and Escalator Market: Key Players

LIST OF FIGURES

Figure 1: Global: Elevator and Escalator Market: Major Drivers and Challenges
Figure 2: Global: Elevator and Escalator Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Elevator and Escalator Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Elevator and Escalator Market: Breakup by Type (in %), 2022
Figure 5: Global: Elevator and Escalator Market: Breakup by Service (in %), 2022
Figure 6: Global: Elevator and Escalator Market: Breakup by End Use (in %), 2022
Figure 7: Global: Elevator and Escalator Market: Breakup by Region (in %), 2022
Figure 8: Global: Elevator and Escalator (Elevators) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Elevator and Escalator (Elevators) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Elevator and Escalator (Escalators) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Elevator and Escalator (Escalators) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Elevator and Escalator (Moving Walkways) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Elevator and Escalator (Moving Walkways) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Elevator and Escalator (New Installation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Elevator and Escalator (New Installation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Elevator and Escalator (Maintenance and Repair) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Elevator and Escalator (Maintenance and Repair) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Elevator and Escalator (Modernization) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Elevator and Escalator (Modernization) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Elevator and Escalator (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Elevator and Escalator (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Elevator and Escalator (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Elevator and Escalator (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia-Pacific: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia-Pacific: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: South Korea: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: South Korea: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Australia: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Australia: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Indonesia: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Indonesia: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: France: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: France: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: United Kingdom: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: United Kingdom: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Italy: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Italy: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Spain: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Spain: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Latin America: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Latin America: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Brazil: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Brazil: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Mexico: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Mexico: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Middle East and Africa: Elevator and Escalator Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Middle East and Africa: Elevator and Escalator Market: Breakup by Country (in %), 2022
Figure 72: Middle East and Africa: Elevator and Escalator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Global: Elevator and Escalator Industry: SWOT Analysis
Figure 74: Global: Elevator and Escalator Industry: Value Chain Analysis
Figure 75: Global: Elevator and Escalator Industry: Porter's Five Forces Analysis


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