Escalators & Moving Walkways Market - By Product (Escalators [Parallel, Multi-Parallel, Others {Belt-type escalators, Step Type Escalators, etc.}]), and Moving Walkways), By Building Height (Low-rise, Mid-rise, High-rise), By Business, End Use Forecast 20

Escalators & Moving Walkways Market - By Product (Escalators [Parallel, Multi-Parallel, Others {Belt-type escalators, Step Type Escalators, etc.}]), and Moving Walkways), By Building Height (Low-rise, Mid-rise, High-rise), By Business, End Use Forecast 2024 – 2032

Global Escalators & Moving Walkways Market will witness 6.7% CAGR between 2024 and 2032 due to the surge in infrastructure developments spearheaded by leading companies worldwide. As urban areas expand and modernize, there is an increasing need for efficient, high-capacity vertical and horizontal transportation solutions in commercial and public spaces such as airports, shopping malls, and transit systems.

Leading companies are investing in state-of-the-art escalators and moving walkways to enhance passenger flow, improve accessibility, and ensure smooth, reliable transportation in high-traffic areas. For instance, in October 2023, Otis India, a subsidiary of Otis Worldwide Corporation, a leading manufacturer of elevators, moving walkways, and escalators, announced that it would supply and install 255 units of elevators and escalators from its Bengaluru factory for the Bhopal and Indore metro projects. 

Infrastructure projects are incorporating advanced features such as energy-efficient designs, smart technology for real-time monitoring, and enhanced safety measures, driving further demand. Additionally, rising urbanization and increased focus on enhancing public infrastructure contribute to the growing need for these transportation solutions. As cities continue to develop and expand, the market for escalators and moving walkways is expected to grow, reflecting their critical role in modernizing infrastructure and meeting the needs of increasingly complex urban environments.

The overall Escalators & Moving Walkways Industry value is classified based on the product, building height, business, end-use, and region.

The escalators & moving walkways market revenue from the moving walkways segment will register a commendable CAGR from 2024 to 2032. Moving walkways are increasingly installed in airports, large shopping centers, and public transport hubs to improve the efficiency of pedestrian movement over long distances. Their ability to reduce travel time and ease congestion in busy environments drives their adoption. As urbanization and infrastructure development progress, the need for moving walkways to facilitate smooth and efficient transportation within large commercial and transit spaces continues to rise, fueling market growth.

The airports segment will exhibit appreciable growth from 2024 to 2032. Airports, as high-traffic hubs, require efficient passenger movement solutions to manage large volumes of travelers. Escalators and moving walkways play a crucial role in enhancing passenger flow, reducing travel time between terminals, and improving accessibility. The increasing volume of air travel and expansion of airport facilities necessitate advanced and reliable transportation systems to ensure smooth operations. Consequently, the demand for these systems is growing, reflecting their importance in providing efficient, safe, and comfortable experiences for airport passengers.

Europe escalators & moving walkways industry will exhibit a notable CAGR from 2024 to 2032. European cities are investing heavily in enhancing public transport systems, commercial spaces, and urban infrastructure to accommodate increasing populations and improve accessibility. Escalators and moving walkways are essential for managing high pedestrian traffic efficiently and ensuring smooth transportation in busy areas such as shopping centers, train stations, and airports. The focus on integrating energy-efficient and technologically advanced systems aligns with Europe's sustainability goals, further driving market growth. As urban development continues, the need for these solutions in Europe remains strong.