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Global Escalators and Elevators Market: By Type: Escalator, Elevators, Moving Walkways; By Service: Modernization, New installation, Maintenance and Repair; By End Use: Residential, Commercial, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
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 2022-2027 to reach a value of approximately USD 162 billion by 2026.
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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.
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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.
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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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| 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, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| 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. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Industry Opportunities and Challenges
8 Global Escalators and Elevators Market Analysis
8.1 Key Industry Highlights
8.2 Global Escalators and Elevators Historical Market (2017-2021)
8.3 Global Escalators and Elevators Market Forecast (2022-2027)
8.4 Global Escalators and Elevators Market by Type
8.4.1 Escalator
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Elevators
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Moving Walkways
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Others
8.5 Global Escalators and Elevators Market by Service
8.5.1 Modernization
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 New installation
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Maintenance and Repair
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.6 Global Escalators and Elevators Market by End Use
8.6.1 Residential
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Commercial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Institutional
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Others
8.7 Global Escalators and Elevators Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country Kingdom
9.2.3.1 United
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.2 Company Profiles
12.2.1 Mitsubishi Electric Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Toshiba Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Schindler Group
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Thyssenkrupp AG
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Hyundai elevator Co.,Ltd
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Fujitec Co., Ltd.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 KONE Elevator India Private Limited
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Escalators and Elevators Market: Key Industry Highlights, 2016 and 2026
2. Global Escalators and Elevators Historical Market: Breakup by Type (USD Billion), 2017-2021
3. Global Escalators and Elevators Market Forecast: Breakup by Type (USD Billion), 2022-2027
4. Global Escalators and Elevators Historical Market: Breakup by Service (USD Billion), 2017-2021
5. Global Escalators and Elevators Market Forecast: Breakup by Service (USD Billion), 2022-2027
6. Global Escalators and Elevators Historical Market: Breakup by End Use (USD Billion), 2017-2021
7. Global Escalators and Elevators Market Forecast: Breakup by End Use (USD Billion), 2022-2027
8. Global Escalators and Elevators Historical Market: Breakup by Region (USD Billion), 2017-2021
9. Global Escalators and Elevators Market Forecast: Breakup by Region (USD Billion), 2022-2027
10. North America Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2017-2021
11. North America Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Europe Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Europe Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Asia Pacific Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Asia Pacific Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Latin America Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Latin America Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Middle East and Africa Escalators and Elevators Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Middle East and Africa Escalators and Elevators Market Forecast: Breakup by Country (USD Billion), 2022-2027
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 2022 and 2027.
The major drivers of the market include the high rate of adoption, rising investments in commercial sectors, advancements in technology, increasing adoption in the aviation sector, demand for sustainable manufacturing of escalators and elevators, and rapid urbanisation.
The increasing adoption of advance tools to minimize cost and labour and the growing demand by the pipeline industry are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
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 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.
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 2022-2027, 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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