Elevators and escalators are part of the vertical transportation system used in buildings and other structures to move people and goods from one floor to another. They are used in residential, commercial, and industrial applications, and their design and operation can vary depending on the purpose and building requirements. The global elevators and escalators market is likely to register a CAGR of over 5.28% with an incremental growth of USD 35.0 billion during the forecast period 2023-2029. The elevators and escalators market is driven by the demand for high-rise buildings, technological advancements, safety standards, infrastructure development, and the aging population. The growth of the market is expected to continue as urbanization and infrastructure development continue globally.The elevators and escalators market is driven by the demand for high-rise buildings, technological advancements, safety standards, infrastructure development, and the aging population. The growth of the market is expected to continue as urbanization and infrastructure development continue globally.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global elevators and escalators market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product type, service, technology, application, and region. The global market for elevators and escalators can be segmented by product type: elevators, escalators, moving walkways. Among these, the elevators segment was accounted for the highest revenue generator in 2022. Elevators and escalators market is further segmented by service: new equipment installation, maintenance & repair, modernization. The new equipment installation segment is estimated to account for the largest share of the global elevators and escalators market. Based on technology, the elevators and escalators market is segmented into: traction, machine room-less (MRL) traction, hydraulic. The traction segment held the largest share of the global elevators and escalators market in 2022 and is anticipated to hold its share during the forecast period. On the basis of application, the elevators and escalators market also can be divided into: residential, commercial, institutional, infrastructure, others. In 2022, the residential segment made up the largest share of revenue generated by the elevators and escalators market. Elevators and escalators market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America.

Market Segmentation
By product type: elevators, escalators, moving walkways
By service: new equipment installation, maintenance & repair, modernization
By technology: traction, machine room-less (MRL) traction, hydraulic
By application: residential, commercial, institutional, infrastructure, others
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The market research report covers the analysis of key stake holders of the global elevators and escalators market. Some of the leading players profiled in the report include Hitachi Ltd., United Technologies Corporation, Kone Corporation, Electra Ltd., Schindler Holding Ltd., Thyssenkrupp AG, Mitsubishi Electric Corporation, Toshiba Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global elevators and escalators market.
• To classify and forecast the global elevators and escalators market based on product type, service, technology, application, region.
• To identify drivers and challenges for the global elevators and escalators market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global elevators and escalators market.
• To identify and analyze the profile of leading players operating in the global elevators and escalators market.

Why Choose This Report
• Gain a reliable outlook of the global elevators and escalators market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.