Global Elevator and Escalator Market Growth 2023-2029

Global Elevator and Escalator Market Growth 2023-2029

An Elevator, also called Lift in British English, is a type of transport equipment that efficiently carries passengers or freight between the levels of multistory building. Most modern elevators are propelled by electric motors, with the aid of a counterweight, through a system of cables and sheaves (pulleys). By opening the way to higher buildings, the elevator played a decisive role in creating the characteristic urban geography of many modern cities, especially in the United States, and promises to fill an indispensable role in future city development.
In generally, elevators include the escalators and the moving walkways. An escalator is a moving staircase used as transportation between floors or levels in subways, buildings, and other mass pedestrian areas. A moving walkway or moving sidewalk, travelator, is a slow moving conveyor mechanism that transports passengers across a horizontal or inclined plane over a short to medium distance. The different between the escalator and the moving walkway is the former has stairs and the latter is a flat or slant apron without stairs.
LPI (LP Information)' newest research report, the “Elevator and Escalator Industry Forecast” looks at past sales and reviews total world Elevator and Escalator sales in 2022, providing a comprehensive analysis by region and market sector of projected Elevator and Escalator sales for 2023 through 2029. With Elevator and Escalator sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Elevator and Escalator industry.
This Insight Report provides a comprehensive analysis of the global Elevator and Escalator landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Elevator and Escalator portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Elevator and Escalator market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Elevator and Escalator and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Elevator and Escalator.
The global Elevator and Escalator market size is projected to grow from US$ 34360 million in 2022 to US$ 43480 million in 2029; it is expected to grow at a CAGR of 43480 from 2023 to 2029.
Global Elevator and Escalator key players include Otis, Schindler, ThyssenKrupp, Kone, Mitsubishi Electric, etc. Global top five manufacturers hold a share over 50%.
China is the largest market, with a share about 70%, followed by Europe, and North America, both have a share over 20 percent.
In terms of product, Elevator is the largest segment, with a share over 80%. And in terms of application, the largest application is Residential Area, followed by Commercial Office, Transportation Hub, Industrial Area, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Elevator and Escalator market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Elevator
Escalator
Moving Walkway
Segmentation by application
Residential Area
Commercial Office
Transportation Hub Area
Industrial Area
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Otis
Schindler Group
ThyssenKrupp
Kone
Mitsubishi Electric
Toshiba
Hitachi
Fujitec
Hyundai
Yungtay Engineering
Canny Elevator
Volkslift
Syney Elevator
Sicher Elevator
SJEC
Guangri Elevator
Hangzhou XiOlift
Edunburgh Elevator
Suzhou Diao
CNYD
Meilun Elevator
IFE Elevators
Joylive Elevator
Dongnan Elevator
Key Questions Addressed in this Report
What is the 10-year outlook for the global Elevator and Escalator market?
What factors are driving Elevator and Escalator market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Elevator and Escalator market opportunities vary by end market size?
How does Elevator and Escalator break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.