Top 7 Companies Dominating the Global Escalators and Elevators Market

Mitsubishi Electric Corporation, Toshiba Corporation, Schindler Group, Thyssenkrupp AG, Hyundai Elevator Co. Ltd., Fujitec Co. Ltd., and KONE Elevator India Private Limited, among others, are the significant players in the global market for escalators and elevators.

The global escalators and elevators market is expected to grow at a CAGR of about 5.8% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the global escalators and elevators market is expected to be driven by rapid urbanisation.

The commercial sector has been one of the fastest-growing sectors, which has been linked to the development of the escalators and elevators industry due to a high adoption rate. It is expected to continue expanding at a faster pace throughout the projection period. With increasing investment in commercial applications such as office buildings, shopping malls, and retail shops, the escalators and elevators market is expected to see rapid development.

Additionally, technological advances that make infrastructure more efficient and environmentally friendly have increased demand for escalators and elevators. The aviation industry continues to use moving walkways, which further contributes to the market's development.

In April 2021, Schindler partnered with renowned hotel chain citizenM to provide vertical mobility solutions. In order to support the digital transformation of buildings, Schindler will introduce to citizenM its new line of environmentally friendly modular elevators. These elevators are built for sustainable vertical mobility and offer integrated solutions. These integrated solutions include Schindler CleanMobility to improve elevator hygiene, Schindler Ahead digital solutions to transform elevators into potent communication platforms, and Schindler PORT technology to provide a touchless user experience.

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Top 7 Global Escalators and Elevators Companies:

Mitsubishi Electric Corporation

Tokyo, Japan is home to the international company Mitsubishi Electric Corporation (MELCO). It produces electrical and electronic devices and is a key enterprise for Mitsubishi. Among the products made by MELCO are escalators, elevators, high-end home appliances, industrial automation systems, railway systems, semiconductors, digital signs, and satellites.

Toshiba Corporation

Global company Toshiba Corporation is headquartered in Japan’s Tokyo area. Electrical and industrial infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disc drives, printers, batteries, and lights are just a few of the wide range of goods and services it offers. It also provides information technology solutions like quantum cryptography. It is a large manufacturer of consumer electronics, home appliances, personal computers, and medical equipment.

Schindler Group

The Schindler Group is a Swiss multinational corporation established in 1874 in Switzerland that produces escalators, moving walkways, and elevators. Elevators and escalators are manufactured, installed, maintained, and upgraded by Schindler for a variety of building types, including high-rise, commercial, and residential.

ThyssenKrupp AG

ThyssenKrupp AG is a global corporation headquartered in Germany that specialises in industrial engineering and steel manufacturing. It was formed in 1999 by merging Thyssen AG and Krupp. The enterprise creates affordable and resource-friendly solutions for the issues of the future, supported by considerable technological know-how. At 78 locations throughout the world, 3,600 people are employed in research and development, primarily in the areas of climate protection, transitioning to a more sustainable energy supply, industrial digital transformation, and future mobility.

Hyundai Elevator Co. Ltd

Hyundai Elevator offers transfer services in the elevator, escalator, and moving walk industries to provide safe, quick, and pleasant transfer experiences that match the changing urban design needs. Hyundai designs, manufactures, installs, maintains, and upgrades elevators and escalators for various building types, including residential, commercial, and high-rise.

Fujitec Co. Ltd.

Fujitec Co., Ltd. is a Japanese elevator, escalator, and travelator manufacturer specialising in research and development, production, sales, installation, and maintenance.

Kone Elevator India Pvt ltd

Based out of Chennai in Tamil Nadu, Kone is a global engineering and service business with about 55,000 employees in 60 countries. Furthermore, Kone constructs and maintains moving walkways, automated doors and gates, escalators, and elevators. In over 1,000 locations in over 50 countries, the business offers local assistance to builders, developers, building owners, designers, and architects.