According to Stratistics MRC, the Global Elevator & Escalator Market is accounted for $122.1 billion in 2019 and is expected to reach $222.7 billion by 2027 growing at a CAGR of 7.8% during the forecast period. Energy efficient elevators and escalators and rising investment in infrastructure are the major factors propelling the market growth. However, the increase in escalator and elevator causalities is hampering the market growth.
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Based on the type, the escalator segment is going to have a lucrative growth during the forecast period. This is attributed to the growing demand from the commercial infrastructures including commercial parks, shopping malls, and others. In addition, the growing aerospace infrastructure development is resulting in the rise in command for escalators and moving walkways. By geography, Asia Pacific is estimated to have a lucrative growth due to the mounting demand from the key economies and developing areas, such as India and South East Asia. China has considerably contributed to the growth of the market revenue and holds the major escalator and elevator market share.
Some of the key players profiled in the Elevator & Escalator Market include Fujitec Co. Ltd., Hitachi, Ltd., Hyundai Elevator Co., Ltd., KONE Oyj, Mitsubishi Electric Corporation, Orona Group, Otis Elevator Company, Schindler Group, ThyssenKrupp AG, Toshiba Corporation, Guangri Elevator, Hangzhou XiOlift, Edunburgh Elevator, Suzhou Diao, and CNYD.
Services Covered:
• Maintenance & Repair
• Modernization
• New Installation
• Refurbishing
• New Equipment
Types Covered:
• Elevators
• Escalator
• Suspended Access Platforms
Elevator Technologies Covered:
• Hydraulic
• Machine Room Less Traction
• Traction With a Room
• Climbing Elevator
• Pneumatic Elevator and Escalator
• Electromagnetic Propulsion Elevators
• Electric Lifts
End Users Covered:
• Commercial Complexes
• Industrial Building and Infrastructure
• Institutional
• Residential Apartment
• Industrial and Marine Industry
• Transportation Hub Area
• Government
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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