Market Research

Elevator and Escalator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

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from $4,850 168 Pages Fortune Business Insights Pvt. Ltd. June, 2024 FOB18867067
Best Price Guarantee
Price from $4,850
Length 168 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date June, 2024
SKU FOB18867067

Elevator and Escalator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Elevator and Escalator Market

The global elevator and escalator market size was valued at USD 83.86 billion in 2022 and is projected to grow from USD 88.59 billion in 2023 to USD 142.52 billion by 2030, exhibiting a CAGR of 7.0% during the forecast period 2023 to 2030.

The COVID-19 pandemic seriously impacted the elevator and escalator market growth due to unexpected nationwide lockdowns. These measures halted economic activities, mainly hitting the unstable construction industry. Consequently, new production and modernization slowed, income dropped, and worldwide market improvement suffered from decreased coin glide, uncertain public investment, and investor pessimism.

The market is growing because more buildings are being made in many countries. Governments are also helping by starting new projects and investing money in building things. This means more people need products for construction, which makes the market grow.

The use of eco friendly products is increasing the market trends. Companies are developing sustainable objects to draw customers who care about the surroundings. For example, green elevators use recycled materials, LED lights, and eco-friendly paints. Also, products with rope and pulley systems, like magnetic motors, are becoming more popular with buyers.

Comprehensive Analysis of Elevator and Escalator Market

Segmentation in the Elevator and Escalator market share runs the market beacuse it allows the companies to target precise customers with tailored offerings and solutions. The market is segmented by product into elevators, escalators, and moving walkways. By business, it is divided into new equipment, maintenance, and modernization. For application, the segments are residential, commercial, and industrial.

Asia Pacific leads the elevator and escalator market due to high demand from developing countries like India, China, and Japan. China's significant contribution comes from increased commercial and industrial construction activities, boosting market revenue and ensuring a dominant market share in the region.

Key players impact market size by investing in innovative systems, forming partnerships, and expanding product offerings. Through strategic acquisitions and collaborations, they enhance operations, scale sales, and broaden customer reach. Key players in the elevator and escalator market include Schindler (Switzerland), Otis Worldwide Corporation (U.S.), KONE CORPORATION (Finland), Mitsubishi Electric Corporation (Japan), Hitachi, Ltd. (Japan), FUJITEC CO., LTD (Japan), Toshiba Corporation (Japan), thyssenkrupp AG (Cinven, Advent and RAG Foundation) (Germany), HYUNDAI ELEVATOR CO. LTD. (South Korea), and CT Elevator Pte Ltd (Singapore).

In August 2021, Hyundai and LG Electronics signed an MoU to expand smart constructing solutions and synchronize robots. This partnership makes a speciality of integrating elevators with self sustaining robots, utilizing a domestic community gadget and LG's signage technologies to decorate building automation and efficiency. This development marks a giant step toward smarter, more related buildings.

Segementation Table

Global Elevator and Escalator Market Scope

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 7.0% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Product, By Business, By Application, and By Region

By Product Elevators

Escalators

Moving Walkway

By Business New Equipment

Maintenance

Modernization

By Application Residential

Commercial

Industrial

By Region North America (By Product, By Business, By Application, and By Country)

- U.S. (By Product)

- Canada (By Product)

Europe (By Product, By Business, By Application, and By Country)

- Germany (By Product)

- U.K. (By Product)

- France (By Product)

- Italy (By Product)

- Turkey (By Product)

- Rest of Europe

Asia Pacific (By Product, By Business, By Application, and By Country)

- China (By Product)

- India (By Product)

- Japan (By Product)

- South Korea (By Product)

- Southeast Asia (By Product)

- Rest of Asia Pacific

Middle East & Africa (By Product, By Business, By Application, and By Country)

- GCC (By Product)

- South Africa (By Product)

- Rest of Middle East & Africa

Latin America (By Product, By Business, By Application, and By Country)

- Brazil (By Product)

- Mexico (By Product)

- Rest of Latin America


1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Elevator and Escalator Key Players Market Share/Ranking, 2022
5. Global Elevator and Escalator Market Size Estimates and Forecasts, By Segments, 2019-2030
5.1. Key Findings
5.2. By Product (USD)
5.2.1. Elevator
5.2.2. Escalator
5.2.3. Moving Walkways
5.3. By Business (USD)
5.3.1. New Equipment
5.3.2. Maintenance
5.3.3. Modernization
5.4. By Application (USD)
5.4.1. Residential
5.4.2. Commercial
5.4.3. Industrial
5.5. By Country (USD)
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Middle East & Africa
5.5.5. Latin America
6. North America Elevator and Escalator Market Size Estimates and Forecasts, By Segments, 2019-2030
6.1. Key Findings
6.2. By Product (USD)
6.2.1. Elevator
6.2.2. Escalator
6.2.3. Moving Walkways
6.3. By Business (USD)
6.3.1. New Equipment
6.3.2. Maintenance
6.3.3. Modernization
6.4. By Application (USD)
6.4.1. Residential
6.4.2. Commercial
6.4.3. Industrial
6.5. By Country (USD)
6.5.1. U.S.
6.5.1.1. By Product
6.5.1.1.1. Elevator
6.5.1.1.2. Escalator
6.5.1.1.3. Moving Walkways
6.5.2. Canada
6.5.2.1. By Product
6.5.2.1.1. Elevator
6.5.2.1.2. Escalator
6.5.2.1.3. Moving Walkways
7. Europe Elevator and Escalator Market Size Estimates and Forecasts, By Segments, 2019-2030
7.1. Key Findings
7.2. By Product (USD)
7.2.1. Elevator
7.2.2. Escalator
7.2.3. Moving Walkways
7.3. By Business (USD)
7.3.1. New Equipment
7.3.2. Maintenance
7.3.3. Modernization
7.4. By Application (USD)
7.4.1. Residential
7.4.2. Commercial
7.4.3. Industrial
7.5. By Country (USD)
7.5.1. Germany
7.5.1.1. By Product
7.5.1.1.1. Elevator
7.5.1.1.2. Escalator
7.5.1.1.3. Moving Walkways
7.5.2. France
7.5.2.1. By Product
7.5.2.1.1. Elevator
7.5.2.1.2. Escalator
7.5.2.1.3. Moving Walkways
7.5.3. U.K.
7.5.3.1. By Product
7.5.3.1.1. Elevator
7.5.3.1.2. Escalator
7.5.3.1.3. Moving Walkways
7.5.4. Italy
7.5.4.1. By Product
7.5.4.1.1. Elevator
7.5.4.1.2. Escalator
7.5.4.1.3. Moving Walkways
7.5.5. Turkey
7.5.5.1. By Product
7.5.5.1.1. Elevator
7.5.5.1.2. Escalator
7.5.5.1.3. Moving Walkways
7.5.6. Rest of Europe
8. Asia Pacific Elevator and Escalator Market Size Estimates and Forecasts, By Segments, 2019-2030
8.1. Key Findings
8.2. By Product (USD)
8.2.1. Elevator
8.2.2. Escalator
8.2.3. Moving Walkways
8.3. By Business (USD)
8.3.1. New Equipment
8.3.2. Maintenance
8.3.3. Modernization
8.4. By Application (USD)
8.4.1. Residential
8.4.2. Commercial
8.4.3. Industrial
8.5. By Country (USD)
8.5.1. China
8.5.1.1. By Product
8.5.1.1.1. Elevator
8.5.1.1.2. Escalator
8.5.1.1.3. Moving Walkways
8.5.2. India
8.5.2.1. By Product
8.5.2.1.1. Elevator
8.5.2.1.2. Escalator
8.5.2.1.3. Moving Walkways
8.5.3. Japan
8.5.3.1. By Product
8.5.3.1.1. Elevator
8.5.3.1.2. Escalator
8.5.3.1.3. Moving Walkways
8.5.4. South Korea
8.5.4.1. By Product
8.5.4.1.1. Elevator
8.5.4.1.2. Escalator
8.5.4.1.3. Moving Walkways
8.5.5. Southeast Asia
8.5.5.1. By Product
8.5.5.1.1. Elevator
8.5.5.1.2. Escalator
8.5.5.1.3. Moving Walkways
8.5.6. Rest of Asia Pacific
9. Middle East & Africa Elevator and Escalator Market Size Estimates and Forecasts, By Segments, 2019-2030
9.1. Key Findings
9.2. By Product (USD)
9.2.1. Elevator
9.2.2. Escalator
9.2.3. Moving Walkways
9.3. By Business (USD)
9.3.1. New Equipment
9.3.2. Maintenance
9.3.3. Modernization
9.4. By Application (USD)
9.4.1. Residential
9.4.2. Commercial
9.4.3. Industrial
9.5. By Country (USD)
9.5.1. GCC
9.5.1.1. By Product
9.5.1.1.1. Elevator
9.5.1.1.2. Escalator
9.5.1.1.3. Moving Walkways
9.5.2. South Africa
9.5.2.1. By Product
9.5.2.1.1. Elevator
9.5.2.1.2. Escalator
9.5.2.1.3. Moving Walkways
9.5.3. Rest of Middle East & Africa
10. Latin America Elevator and Escalator Market Size Estimates and Forecasts, By Segments, 2019-2030
10.1. Key Findings
10.2. By Product (USD)
10.2.1. Elevator
10.2.2. Escalator
10.2.3. Moving Walkways
10.3. By Business (USD)
10.3.1. New Equipment
10.3.2. Maintenance
10.3.3. Modernization
10.4. By Application (USD)
10.4.1. Residential
10.4.2. Commercial
10.4.3. Industrial
10.5. By Country (USD)
10.5.1. Brazil
10.5.1.1. By Product
10.5.1.1.1. Elevator
10.5.1.1.2. Escalator
10.5.1.1.3. Moving Walkways
10.5.2. Mexico
10.5.2.1. By Product
10.5.2.1.1. Elevator
10.5.2.1.2. Escalator
10.5.2.1.3. Moving Walkways
10.5.3. Rest of Latin America
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. CT Elevator Pte Ltd
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. Fujitech Co Ltd
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Hitachi Ltd
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. Hyundai Elevator Co Ltd
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Kone Corporation
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Mitsubishi Electric Corporation
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Otis Worldwide Corporation
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. Schindler
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. Thyssenkrupp AG
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. Toshiba Corporation
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments

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