Elevator And Escalator Market Size, Share, and Outlook, 2025 Report- By Type (Elevators, Escalators, Moving Walkways), By Service (New Installation, Maintenance and Repair, Modernization), By End-User (Residential, Commercial, Large-Scale), 2018-2032

Elevator And Escalator Market Outlook

Elevator And Escalator Market Size is forecast to reach $336.4 Billion in 2032 from $193.7 Billion in 2025, at an optimistic growth rate of 8.1% from 2025 to 2032. The robust Elevator And Escalator Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Elevator And Escalator Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Type (Elevators, Escalators, Moving Walkways), By Service (New Installation, Maintenance and Repair, Modernization), By End-User (Residential, Commercial, Large-Scale). Over 70 tables and charts showcase findings from our latest survey report on Elevator And Escalator Markets.

Elevator And Escalator Market Insights, 2025: Elevator and Escalator – Key Drivers and Opportunities

The elevator and escalator market is driven by the urbanization trend, as cities continue to grow and demand efficient vertical transportation systems. Elevators are essential in residential, commercial, and industrial buildings, while escalators are commonly used in public transport hubs, shopping malls, and airports.

Key drivers in this market include the increasing need for high-rise buildings and the growth of the real estate sector. As cities become more densely populated, the demand for vertical transportation solutions increases to accommodate more people in less space. Additionally, aging infrastructure in many developed countries requires upgrading or modernizing existing elevator and escalator systems to meet safety standards and improve efficiency.

Emerging opportunities in the elevator and escalator market include the integration of smart technology, such as IoT-enabled elevators that offer predictive maintenance and real-time monitoring. The introduction of energy-efficient systems that use regenerative drives and energy-saving lighting is also a growing trend. Green building certifications and the push for sustainability further drive demand for eco-friendly elevator and escalator solutions.

Five Trends that will define global Elevator And Escalator Market in 2025 and Beyond

A closer look at the multi-million global market for Elevator And Escalator Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Elevator And Escalator Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Elevator And Escalator Industry?

The Elevator And Escalator Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Elevator And Escalator Market Segment Insights

The Elevator And Escalator Industry presents strong offers across categories. The analytical report offers forecasts of Elevator And Escalator Industry performance across segments and countries. Key segments in the industry include- By Type (Elevators, Escalators, Moving Walkways), By Service (New Installation, Maintenance and Repair, Modernization), By End-User (Residential, Commercial, Large-Scale). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Elevator And Escalator Market size outlook is provided for 22 countries across these regions.

Elevator And Escalator Industry Value Chain

The chapter identifies potential companies and their operations across the global Elevator And Escalator Industry ecosystem. It assists decision-makers in evaluating global Elevator And Escalator Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Elevator And Escalator Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Elevator And Escalator Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Elevator And Escalator Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Elevator And Escalator Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Elevator And Escalator Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Elevator And Escalator Market Insights- Executives are most excited about opportunities for the US Elevator And Escalator Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Elevator And Escalator Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Elevator And Escalator Market.

Latin American Elevator And Escalator Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Elevator And Escalator Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Elevator And Escalator Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Elevator And Escalator Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Elevator And Escalator Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Fujitec Co. Ltd, Hitachi Ltd, Hyundai Ltd, Kone Oyj, Mitsubishi Electric Corp, Otis Worldwide Corp, Schindler Group, Thyssenkrupp AG, Toshiba Corp.

Elevator And Escalator Market Scope and Segmentation

By Type

Elevators

Escalators

Moving Walkways

By Service

New Installation

Maintenance and Repair

Modernization

By End-User

Residential

Commercial

Large-Scale

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Elevator And Escalator Market Research-

Fujitec Co. Ltd

Hitachi Ltd

Hyundai Ltd

Kone Oyj

Mitsubishi Electric Corp

Otis Worldwide Corp

Schindler Group

Thyssenkrupp AG

Toshiba Corp

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
• Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
• Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
• Get an integrated understanding of the entire market ecosystem and companies.
• Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
• Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
• Get free Excel spreadsheet and PPT versions along with the report PDF.