Market Size

The global elevator and escalator market size was valued at USD 80.1 billion in 2019 and USD 74.2 billion in 2020. Overall market is estimated to reach a value of USD xx billion in 2027. The elevator and escalator market analysis shows that it will grow with a CAGR of 6.9% over the forecast period of 2021 to 2027.

Market Driver

The global escalators and elevators market is anticipated to expand rapidly in coming years, owing to increasing industrialization and a significant increase in the elderly population. The market for elevator and escalator is one of the industries which has capitalized heavily on the changing technologies. The market is expected to be driven by ever-increasing construction and architectural activities. Elevators and escalators are widely used in a variety of verticals, including residential, industrial, and commercial buildings. They are typically installed in locations including residential complexes, railway stations, metro stations, hospitals, office buildings, shopping malls, and educational institutes. The installation of elevators and escalators in high-rise and mid-rise buildings has become critical, assisting the construction sector in gaining momentum. The market's leading vendors have focused on increasing the efficiency of elevators and escalators with the goal of fostering a green, clean, and sustainable environment. It has resulted in a surge in demand for environmentally friendly and energy-efficient elevator, escalator and moving walks. Prominent vendors have placed a premium on the production of environmentally friendly elevator and escalator. Significant growth in the real estate industry is a primary driver of the escalator and elevator market.

Regional Outlook

Growing urbanization in developing countries is driving the global market. Asia Pacific countries such as India, China, and Japan have a very high density of population, which contributes which is working as a key market driving factor. Furthermore, Asia Pacific is expected to see a significant increase in the construction sector, owing to an increase in  public and private infrastructure development projects. Moreover, partnership between international and domestic companies have created a favorable environment for market growth.

Competitive Insight

Schindler Holding Limited, Otis Elevator Company, Canny Elevators, Sigma, Hyundai, Fujitec Co. Ltd, Kleenmann Group, Johnson Lifts, Hitachi, KONE Corporation, ThyssenKrupp Elevator AG, Mitsubishi, and Toshiba are among the market's leading vendors. Large number of international and domestic vendors are vying for market share, resulting in a competitive market environment. The escalator and elevator market participants have increased their focus on enhancing and improving their products. Safety is a primary concern, as there have been several incidents involving malfunctioning elevator and escalator, particularly elevators.

Research Methodology

Elevator and Escalator market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts channel partners, and end users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.

Segments covered in the report

Elevator and Escalator Market Size and Outlook by Type

• Elevator
  • Passenger Elevator
  • Freight Elevator
• Escalator
  • Step Type
  • Belt Type

Elevator and Escalator Market Size and Outlook by Service

• New Installation
• Maintenance & Repair
• Refurbishing

Elevator and Escalator Market Size and Outlook by End Use

• Residential
• Commercial
  • Offices
  • Hospitality
  • Mixed Block
  • Others

Elevator and Escalator Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
  • Austria
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • Australia
  • New Zealand
  • Indonesia
• Central & South America
  • Brazil
  • Chile
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• 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

Actionable Outcomes

Our Elevator and Escalator Market Report offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits to business stakeholders and industry entities decisions as leaders.

Strategic Planning

Every business needs to understand how their product will Service in the forthcoming years. With the current uncertainness due to the COVID-19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Elevator and Escalator market size
• Elevator and Escalator market size, drifts, drivers and opportunities
• Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
• Elevator and Escalator market size in United States
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Historical, current, and projected Elevator and Escalator market size from the standpoint of both value and volume
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Elevator and Escalator market share
• Measures to consider for Elevator and Escalator market