Elevators and Escalators Market Report: Trends, Forecast and Competitive Analysis to 2030

Elevators And Escalators Trends and Forecast

The future of the global elevators and escalators market looks promising with opportunities in the residential, commercial, institutional, and infrastructure markets. The global elevators and escalators market is expected to reach an estimated $152.9 billion by 2030 with a CAGR of 5.5% from 2024 to 2030. The major drivers for this market are growing construction of high-rise buildings equipped with smart vertical transportation systems along with rapid urbanization and increasing demand for reducing energy consumption in buildings.

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Elevators And Escalators by Segment

The study includes a forecast for the global elevators and escalators by elevator technology, type, service, end use, and region.

Elevators and Escalators Market by Elevator Technology [Shipment Analysis by Value from 2018 to 2030]:

• Traction
• Machine-Room-Less
• Hydraulic

Elevators and Escalators Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Elevators
• Escalators
• Moving Walkways

Elevators and Escalators Market by Service [Shipment Analysis by Value from 2018 to 2030]:

• New Installation
• Maintenance & Repair
• Modernization

Elevators and Escalators Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Commercial
• Institutional
• Infrastructure
• Others

Elevators and Escalators Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Elevators And Escalators Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies elevators and escalators companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the elevators and escalators companies profiled in this report include-

• Schindler Switzerland
• Hitachi
• Kone Corporation
• Hyundai Elevator
• Fujitec
• Otis Elevator Company
• Toshiba Elevator and Building Systems

Elevators and Escalators Market Insights

Lucintel forecasts that machine-room-less will remain the largest segment as it is energy-efficient and have a higher load-carrying capacity.

Within this market, residential will remain the largest segment due to increasing penetration of residential homes and multi-homes and high living standards in emerging economies.

APAC is expected to witness highest growth over the forecast period due to easy availability of raw materials, low labor costs, and stringent regulatory framework.

Features of the Global Elevators and Escalators Market

Market Size Estimates: Elevators and escalators market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Elevators and escalators market size by various segments, such as by elevator technology, type, service, end use, and region in terms of value ($B).

Regional Analysis: Elevators and escalators market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different elevator technologies, types, services, end uses, and regions for the elevators and escalators market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the elevators and escalators market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the elevators and escalators market size?

Answer: The global elevators and escalators market is expected to reach an estimated $152.9 billion by 2030.

Q2. What is the growth forecast for elevators and escalators market?

Answer: The global elevators and escalators market is expected to grow with a CAGR of 5.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the elevators and escalators market?

Answer: The major drivers for this market are growing construction of high-rise buildings equipped with smart vertical transportation systems along with rapid urbanization and increasing demand for reducing energy consumption in buildings.

Q4. What are the major segments for elevators and escalators market?

Answer: The future of the elevators and escalators market looks promising with opportunities in the residential, commercial, institutional, and infrastructure markets.

Q5. Who are the key elevators and escalators market companies?

Answer: Some of the key elevators and escalators companies are as follows:

• Schindler Switzerland
• Hitachi
• Kone Corporation
• Hyundai Elevator
• Fujitec
• Otis Elevator Company
• Toshiba Elevator and Building Systems

Q6. Which elevators and escalators market segment will be the largest in future?

Answer: Lucintel forecasts that machine-room-less will remain the largest segment as it is energy-efficient and have a higher load-carrying capacity.

Q7. In elevators and escalators market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to easy availability of raw materials, low labor costs, and stringent regulatory framework.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the elevators and escalators market by elevator technology (traction, machine-room-less, and hydraulic), type (elevators, escalators, and moving walkways), service (new installation, maintenance & repair, and modernization), end use (residential, commercial, institutional, infrastructure, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?