The global escalators and elevators market is projected to grow at a CAGR of 5.80% between 2026 and 2035, reaching a value of around USD 227.21 Billion by 2035.
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ABS data shows Australia's construction industry generates USD 162 billion annually, contributing about 10% to the nation's GDP.
As per industry reports, China aims to build 50,000 high-quality, affordable houses between 2024 and 2028, emphasising affordability and quality.
According to the World Bank in 2022, Saudi Arabia's industrial sector, including construction, accounted for 53.2% of the GDP.
Compound Annual Growth Rate
5.8%
2026-2035
*this image is indicative*
The growth of escalators and elevators market is propelling due to the development of large-scale infrastructure projects, such as airports, metro stations, and shopping malls, which require extensive elevator and escalator installations to handle high passenger volumes efficiently. Moreover, advancements in technology making the infrastructure smoother and eco-friendly has created a rising demand for the escalators and elevators industry.
Rapid urbanisation is driving the demand for high-rise buildings and residential complexes. As cities expand vertically to accommodate growing populations, the need for efficient vertical transportation solutions such as escalators and elevators increases. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the housing completions of 1,623,000 new residential construction units in April 2024. In contrast, it was 1,416,000 units in April 2023.
Smart elevators, sustainable and green building solutions, modular designs, and destination control systems are the major trends impacting the escalators and elevators market value.
Escalators and elevators are increasingly equipped with IoT sensors and AI algorithms to gather data on usage patterns, monitor equipment health in real time, and optimise performance, thus impacting the escalators and elevators demand growth.
Manufacturers prioritise energy-efficient escalators and elevators with LED lighting, regenerative drives, and efficient motors, lowering costs and advancing sustainability by curbing energy use and emissions.
Modular designs simplify escalator/elevator installation, maintenance, and upgrades by standardising parts and interfaces. They streamline manufacturing, cut lead times, and offer flexible configurations for diverse building needs.
Destination dispatch systems use algorithms to allocate elevator cars according to passengers' destination floors, minimising travel time and congestion, thus improving passenger experience and building efficiency.
The increasing escalators and elevators demand is fuelled by the construction of high-rise residential buildings, luxury hotels, and shopping malls, all requiring these systems for accessibility and convenience.
Escalators and elevators incorporate advanced safety features such as emergency stop buttons, infrared sensors, and overload protection systems to ensure passenger safety. Continuous advancements in safety technology enhance reliability and compliance with strict safety regulations and standards.
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“Escalators and Elevators Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Service
Market Breakup by End Use
Market Breakup by Region
Escalators are increasingly preferred as they provide accessibility for people with disabilities and the elderly, as well as ensuring safety in crowded public spaces.
Escalators integrated with smart building systems offer benefits such as automated fault detection, traffic flow optimization, and seamless connectivity with building management systems, further driving their adoption in modern buildings and infrastructure projects.
Moving walkways efficiently move passengers across large distances within airports, train stations, and shopping centres, improving overall passenger flow, and reducing congestion.
Modernisation services contribute to the escalators and elevators market revenue by improving the safety and accessibility of escalators and elevators via installing features such as emergency communication systems and tactile buttons for visually impaired users.
Modernization services enhance the user experience by upgrading escalators and elevators with features such as destination dispatch systems, touchscreen interfaces, and multimedia displays.
Building owners and developers seek unique solutions that align with their architectural vision and enhance the aesthetic appeal of their properties, driving demand for new installation services.
The industry's expansion is attributed to advancements in the Asia Pacific region, a trend that is steadily rising as nations increase their investments in infrastructure. Additionally, the growing need for sustainable manufacturing of escalators and elevators is further bolstering the industry's growth trajectory.
Furthermore, escalators and elevators market in Europe is driving due to rapid urbanisation, infrastructure development, modernisation initiatives, and strict safety regulations, spurring demand for vertical transportation solutions.
According to the “Recognising Malls and Shopping Centres as a New Age Industry” report, out of the total number of shopping malls in India, NCR has the largest share of the total malls amongst the top 8 cities at 34%, followed by Mumbai and Bengaluru at 18% and 17% respectively. This indicates the rising growth of the market in the nation.
The companies are a provider of electric and electronic equipment, energy solutions, elevators and escalators.
Founded in 1921 and based in Chiyoda-ku, Tokyo. The company leads in manufacturing and selling electric and electronic equipment for Energy, Industrial Automation, Information Systems, and Home Appliances.
Established in 1875 and based in Minato-ku, Tokyo. The company offers products and services related to various business domains including energy solutions, building solutions, digital solutions, and battery business.
Founded in 1874 and based in Lucerne, Switzerland. The company is a leading manufacturer and provider of related services for elevators, escalators, and moving walkways.
Established in 1999 and based in Essen, Germany. The international technology and industrial company which manufactures products related to automotive, chemicals, aerospace, oil and gas, and others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other global escalators and elevators market key players are Hyundai Elevator Co. Ltd., Fujitec Co. Ltd. and KONE Elevator India Private Limited, among others.
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The market is projected to grow at a CAGR of 5.80% between 2026 and 2035.
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 market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the type, which includes escalator, elevators, moving walkways, and others.
The market is categorised according to the services, which includes modernization, new installation, and maintenance and repair.
Based on the end use, the market is divided into residential, commercial, institutional, and others.
The market key players are Mitsubishi Electrical Corporation, Toshiba Corporation, Schindler Group, Thyssenkrupp AG, Hyundai Elevator Co. Ltd., Fujitec Co. Ltd., and KONE Elevator India Private Limited, among others.
The revenue generated from the escalators and elevators market is expected to reach USD 227.21 Billion in 2035.
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| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Service |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
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