Escalators Market by Type (Parallel, Multi-parallel, Walkway and Others), Industry Vertical (Commercial, Public Transit and Others) and Solution (New Installation, Maintenance & Repair, and Modernization): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global escalator market size was valued at $ 11,782.4 million in 2020, and is projected to reach $ 19,116.6 million by 2030, registering a CAGR of 4.5% from 2020 to 2030. Escalators are powered staircases that enable easy movement of people between two successive floors of a building or structure. Interlocking steps and an electric motor are the typical components of escalators. A system of chains and gears is used for moving the interlocked steps in an escalator.
Escalators facilitate continuous and uninterrupted vertical movement of people. This makes it suitable for use in commercial spaces, such as shopping malls and public transport systems, such as metros. Furthermore, moving walks are a type of escalator that is primarily used for easing horizontal movement of people in long passages. Thereby, making it suitable for use at airports.
The increase in purchasing power of people in developing countries fuels the development of malls and other large retail outlets. Thus, positively influencing the escalators market, as they reduce overcrowding by enabling continuous movement. However, the requirement of frequent maintenance and high energy consumption are factors that constraint the growth of market. Furthermore, government initiatives to boost public transport projects, such as metro rails and airports, significantly increase the demand for escalators.
The escalators market is segmented on the basis of type, industry vertical, and region. By type, the market is classified into parallel, multi-parallel, walkway, crisscross and spiral. By industry vertical, it is categorized into commercial, public transit, institutional sector and residential. By solutions, the market is categorized as new installation, maintenance & repair and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market have adopted key strategies such as product launch to strengthen their market outreach and sustain the stiff competition in the market
COMPETITION ANALYSIS
The major market participants profiled in this report include Fujitec Co. Ltd., Hitachi Ltd., Hyundai Elevator Co., Ltd., KONE Corporation, Mitsubishi Electric Corporation, Omega Elevators, OTIS Worldwide Corporation, Schindler, TK Elevator and Toshiba Corporation.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging escalators market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030.
Extensive analysis of the escalators market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global escalators market forecast analysis from 2021 to 2030 is included in the report.
The key market players within escalators market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the escalators industry.
KEY SEGMENTS
BY TYPE
Parallel
Multi-parallel
Walkway
Other
BY INDUSTRY VERTICAL
Commercial
Public transit
Others
BY SOLUTION
New Installation
Maintenance & Repair
Modernization
BY REGION
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY PLAYERS
Fujitec Co. Ltd.
Hitachi Ltd.
Hyundai Elevator Co., Ltd.
KONE Corporation
Mitsubishi Electric Corporation
Omega Elevators
OTIS Worldwide Corporation
Schindler
TK Elevator
Toshiba Corporation.
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