MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled “Elevator and Escalator Market Analysis, 2024–2030.”
This report provides a detailed assessment of the Elevator and Escalator Market, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.

Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.

In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2026 to 2032, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.

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Elevator and Escalator Market Timeline Overview

-Historical Years: 2019-22

-Base Years: 2023

-Forecast year - 2024-2030

This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.

Elevator and Escalator Market Outlook

According to the report, The Global Elevator and Escalator Market size was valued at around USD 125.5 billion in 2023 & is estimated to grow at a CAGR of around 7.8% during the forecast period, i.e., 2024-30. Most of the market expansion can be attributed to the rapid urbanization worldwide, resulting in the erection of more buildings and the modernization of age-old infrastructure in the coming years.

The report also examines consumer preferences, regulatory impacts, and investment trends that will shape the market’s trajectory over the next decade.

Elevator and Escalator Market Drivers:

Increasing Investment in Construction Projects – The global elevator and escalator market is set to grow due to the rising construction of new residential and commercial properties in both developing and developed economies. Infrastructure-related projects are being invested in by over 40 developing countries, as per the UNCTAD Trade report. Additionally, numerous government initiatives from these nations aim to boost demand for elevators and escalators further during the forecast period.

Elevator and Escalator Market Trends:

Growing Demand for IoT-Integrated Elevators & Escalators – With the advent of advanced technologies such as the Internet of Things (IoT) and its integration into elevators & escalators, manufacturers have maximized their revenues in the past few years. The integration has led to the smooth functioning of these setups in terms of gathering, analyzing, and exchanging data and maintaining entry and exit-related records. Other than this, the IoT has enabled elevators and escalators to anticipate traffic and respond in real time with minimal error. These advantages have compelled investors and manufacturers to integrate such products with cutting-edge technologies, which, in turn, is augmenting the market size & volume.

View Full Report (All Data, In One Place): (Explore in-depth analyses, technological trends, and investment patterns.) https://www.marknteladvisors.com/research-library/elevator-and-escalator-market.html

Elevator and Escalator Market Segmentation

The study categorizes the Elevator and Escalator Market into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.

By Type

• Elevator
• Traction
• Hydraulic
• Machine Room Less
• Escalator
• Moving Walkway
• Moving Stairs

By Service

• New Installation
• Modernization- Market Size & Forecast 2019-2030, (USD Million)
• Maintenance- Market Size & Forecast 2019-2030, (USD Million)

By Application

• Residential
• Commercial
• Industrial

Geographical Analysis

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The report presents detailed insights into the Elevator and Escalator Market’s geographical expansion, highlighting key trends and opportunities across the following geographies:

Talk to Our Industry Analyst: Get personalized insights into company strategies and regional market dynamics.) https://www.marknteladvisors.com/query/talk-to-our-consultant/elevator-and-escalator-market.html

Leading Companies in Elevator and Escalator Market Worldwide: Players, Analysis & Future Outlook

Fujitec Co. Ltd., Hitachi Elevator Engineering Company, KONE, Canny Elevator Company Ltd., Toshiba Elevator and Building Systems Corporation, Hyundai Elevator Co., Ltd., Mitsubishi Electric Corporation, ORONA, Otis Worldwide Corporation, Schindler Holding Ltd., ThyssenKrupp Elevator AG, SJEC Corp., Sigma Elevators, Walton group, Electra Elevators and others are the top companies in the Elevator and Escalator Market.

Key Highlights of the Report

• Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2024 to 2030.
• Growth Drivers & Challenges: Clear insights into factors fueling or restraining market expansion.
• Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
• Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.

Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences

Browse through our flexible pricing plans and choose the package that best fits your business needs whether you require a single-user license, corporate access, or customized insights. Once you select the plan that suits your requirements, you can purchase and instantly access the full report online – https://www.marknteladvisors.com/pricing/elevator-and-escalator-market.html

Frequently Asked Questions (FAQ)

1. What is the projected growth rate of the Elevator and Escalator Market?
   2. What are the major factors driving this market’s growth?
   3. Which regions are expected to lead the Elevator and Escalator Market?
   4. Who are the prominent players in the Elevator and Escalator Market?
   5. How is the competition structured in this market?
   6. How can I access the full report?

About us:

MarkNtel Advisors is a globally recognized market research firm offering comprehensive insights into the construction and mining sector, encompassing building management, construction materials, and construction technology & equipment. We assist developers, equipment manufacturers, and infrastructure investors in understanding market trends, sustainability mandates, and technological disruptions. Leveraging our Competitive Intelligence services, we help organizations benchmark competitors, identify white spaces, and craft informed growth strategies for enduring success in the global construction landscape.         

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