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Escalators and Elevators Market

Global Escalators and Elevators Market Share, Forecast: By Type: Escalator, Elevators, Moving Walkways, Others; By Service: Modernization, New installation, Maintenance and Repair; By End Use: Residential, Commercial, Institutional, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Escalators and Elevators Market Outlook

The global escalators and elevators market is being driven by increasing adoption of advance tools to minimize cost and labour and the growing demand by the pipeline industry. The market is further expected to grow at a CAGR of 5.8% in the forecast period of 2024-2032 to reach a value of approximately USD 227.21 billion by 2032.

 

Global Escalators and Elevators Market

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Rapid Urbanization to Boost the Escalators and Elevators Industry Growth

The ever-growing population of the world is pushing the rising nations to invest in better and modernized infrastructure, which is increasing the market growth of escalators and elevators. The rising demand from these infrastructures both commercial and residential, such as shopping malls, museums, offices, apartments, etc., is predicted to witness significant growth in the forecast period. The growth in the industry is owed to the developments in the Asia Pacific region and is continuously increasing as the nations invest more and more in the infrastructure. The demand for sustainable manufacturing of escalators and elevators is also supporting the growth rate of this industry.

 

Escalators and Elevators: Market Segmentation

Elevators are sometimes referred to as lifts, which are mainly containers used to carry passengers and freight up and down, usually between floors of a building. Escalators are mobile staircases installed to freight people from one storey to the next. Moving walkways are moving sidewalks that carry people horizontally or on an incline. They are usually driven by electrical motors along with traction cables or pump hydraulic fluid to elevate or move. These also help transport heavy objects as well as help injured or people with disabilities to move.

 

Global Escalators and Elevators Market By Type

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Based on type, the market is segmented into:

  • Escalators
  • Elevators
  • Moving Walkways
  • Others

On the basis of service, the market is divided into:

  • Modernization
  • New Installation
  • Maintenance and Repair

By end use, the market is categorized into:

  • Residential
  • Commercial
  • Institutional
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Escalators and Elevators Market By Region

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Rising Demand by the Commercial Sector to Bolster the Growth of Escalators and Elevators Industry

The commercial sector has become one of the fastest growing sectors and has been attributed to the growth of the escalators and elevators industry due to the high rate of adoption and is forecasted to grow higher during the forecast period. The rising investments in commercial sectors as office spaces, shopping malls, retail stores, etc., is witnessing a high growth rate of escalators and elevators. Moreover, advancements in technology making the infrastructure smoother and eco-friendly has created a rising demand for the escalators and elevators industry. The aviation sector continues to adopt moving walkways, thereby aiding the growth of the market.

 

Key Industry Players in the Global Escalators and Elevators Market

The report gives a detailed analysis of the following key players in the global escalators and elevators market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Mitsubishi Electrical Corporation
  • Toshiba Corporation
  • Schindler Group
  • Thyssenkrupp AG
  • Hyundai Elevator Co. Ltd.
  • Fujitec Co. Ltd.
  • KONE Elevator India Private Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Service
  • End Use
  • Region
Breakup by Type
  • Escalator
  • Elevators
  • Moving Walkways
  • Others
Breakup by Service
  • Modernization
  • New installation
  • Maintenance and Repair
Breakup by End Use
  • Residential
  • Commercial
  • Institutional
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Mitsubishi Electric Corporation
  • Toshiba Corporation
  • Schindler Group
  • Thyssenkrupp AG
  • Hyundai elevator Co.,Ltd
  • Fujitec Co., Ltd.
  • KONE Elevator India Private Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Escalators and Elevators Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Escalators and Elevators Historical Market (2018-2023) 
    8.3    Global Escalators and Elevators Market Forecast (2024-2032)
    8.4    Global Escalators and Elevators Market by Type
        8.4.1    Escalator
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Elevators
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Moving Walkways
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Escalators and Elevators Market by Service
        8.5.1    Modernization
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    New installation
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Maintenance and Repair
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Escalators and Elevators Market by End Use
        8.6.1    Residential
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Commercial
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Institutional
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Others
    8.7    Global Escalators and Elevators Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America Escalators and Elevators Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Escalators and Elevators Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Escalators and Elevators Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Escalators and Elevators Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Escalators and Elevators Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        17.2.1    Mitsubishi Electric Corporation
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Toshiba Corporation
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Schindler Group
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Thyssenkrupp AG
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Hyundai elevator Co.,Ltd
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Fujitec Co., Ltd.
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    KONE Elevator India Private Limited
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Others
17    Key Trends and Developments in the Market

List of Key Figures and Tables

1.    Global Escalators and Elevators Market: Key Industry Highlights, 2018 and 2032
2.    Global Escalators and Elevators Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Escalators and Elevators Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Escalators and Elevators Historical Market: Breakup by Service (USD Billion), 2018-2023
5.    Global Escalators and Elevators Market Forecast: Breakup by Service (USD Billion), 2024-2032
6.    Global Escalators and Elevators Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    Global Escalators and Elevators Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    Global Escalators and Elevators Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Escalators and Elevators Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Major Importing Countries by Value (2020)
21.    Major Exporting Countries by Volume (2020)
22.    Major Importing Countries by Value (2020)
23.    Major Exporting Countries by Volume (2020)
24.    Global Escalators and Elevators Market Structure

Key Questions Answered in the Report

The global escalators and elevators 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 major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major types of escalators and elevators are escalator, elevators, and moving walkways, among others.

Modernisation, new installation, and maintenance and repair are the significant segments based on the service of products considered in the market report.

The various end uses of escalators and elevators are residential, commercial, and institutional, among others.

The major players in the market are Mitsubishi Electric Corporation, Toshiba Corporation, Schindler Group, Thyssenkrupp AG, Hyundai elevator Co. Ltd., Fujitec Co. Ltd., and KONE Elevator India Private Limited, among others.

Analyst Review

The global escalators and elevators market was driven by the increasing adoption of advance tools to minimize cost and labour. Aided by rising investments in commercial sectors and growing demand by the pipeline industry, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 5.8%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Escalators, elevators, and moving walkways, among others, are the types in the market. On the basis of service, the market is divided into modernisation, new installation,  maintenance and repair. The end-uses are residential, commercial, and institutional, among others. The major regional markets for escalators and elevators are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Mitsubishi Electric Corporation, Toshiba Corporation, Schindler Group, Thyssenkrupp AG, Hyundai Elevator Co. Ltd., Fujitec Co. Ltd., and KONE Elevator India Private Limited, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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