Market Overview
This research report provides a concise overview of the Elevator and Escalator Market, covering essential elements such as market size, share, growth, report, analysis, trends, industry report, and forecast report. It offers valuable insights into the current global market landscape, highlighting key developments and emerging opportunities. Backed by data and expert evaluation, the report helps businesses, investors, and decision-makers understand evolving market dynamics. With segment-wise coverage and forward-looking analysis, this market research serves as a practical tool for navigating the future of the Elevator and Escalator Market.
Elevator and Escalator Market Statistic and Research Methodology
Elevator and Escalator Market size was valued at around USD 125.5 billion in 2023 & is estimated to grow at a CAGR of around 7.8% during the forecast period, i.e., 2024-30. Most of the market expansion can be attributed to the rapid urbanization worldwide, resulting in the erection of more buildings and the modernization of age-old infrastructure in the coming years.
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Market Key Driver-
Increasing Investment in Construction Projects – The global elevator and escalator market is set to grow due to the rising construction of new residential and commercial properties in both developing and developed economies. Infrastructure-related projects are being invested in by over 40 developing countries, as per the UNCTAD Trade report. Additionally, numerous government initiatives from these nations aim to boost demand for elevators and escalators further during the forecast period.
Key Player: –
Fujitec Co. Ltd., Hitachi Elevator Engineering Company, KONE, Canny Elevator Company Ltd., Toshiba Elevator and Building Systems Corporation, Hyundai Elevator Co., Ltd., Mitsubishi Electric Corporation, ORONA, Otis Worldwide Corporation, Schindler Holding Ltd., ThyssenKrupp Elevator AG, SJEC Corp., Sigma Elevators, Walton group, Electra Elevators and others
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Segmentation Analysis-
By Type
- Elevator
- Traction- Market Size & Forecast 2019-2030, (Thousand Units)
- Hydraulic- Market Size & Forecast 2019-2030, (Thousand Units)
- Machine Room Less- Market Size & Forecast 2019-2030, (Thousand Units)
- Escalator
- Moving Walkway- Market Size & Forecast 2019-2030, (Thousand Units)
- Moving Stairs- Market Size & Forecast 2019-2030, (Thousand Units)
By Service
- New Installation- Market Size & Forecast 2019-2030, (Thousand Units)
- Modernization- Market Size & Forecast 2019-2030, (USD Million)
- Maintenance- Market Size & Forecast 2019-2030, (USD Million)
By Application
- Residential- Market Size & Forecast 2019-2030, (Thousand Units)
- Commercial- Market Size & Forecast 2019-2030, (Thousand Units)
- Industrial- Market Size & Forecast 2019-2030, (Thousand Units)
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Geography-
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Frequently Asked Questions (FAQ)
- What is the current size and expected growth of the Elevator and Escalator Market?
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