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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.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
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?
For any questions related to Elevators And Escalators Market, Elevators And Escalators Market Size, Elevators And Escalators Market Growth, Elevators And Escalators Market Analysis, Elevators And Escalators Market Report, Elevators And Escalators Market Share, Elevators And Escalators Market Trends, Elevators And Escalators Market Forecast, Elevators And Escalators Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Elevators and Escalators Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Elevators and Escalators Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Elevators and Escalators Market by Elevator Technology
3.3.1: Traction
3.3.2: Machine-Room-Less
3.3.3: Hydraulic
3.4: Global Elevators and Escalators Market by Type
3.4.1: Elevators
3.4.2: Escalators
3.4.3: Moving walkways
3.5: Global Elevators and Escalators Market by Service
3.5.1: New installation
3.5.2: Maintenance & Repair
3.5.3: Modernization
3.6: Global Elevators and Escalators Market by End Use
3.6.1: Residential
3.6.2: Commercial
3.6.3: Institutional
3.6.4: Infrastructure
3.6.5: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Elevators and Escalators Market by Region
4.2: North American Elevators and Escalators Market
4.2.2: North American Elevators and Escalators Market by End Use: Residential, Commercial, Institutional, Infrastructure, and Others
4.3: European Elevators and Escalators Market
4.3.1: European Elevators and Escalators Market by Elevator Technology: Traction, Machine-Room-Less, and Hydraulic
4.3.2: European Elevators and Escalators Market by End Use: Residential, Commercial, Institutional, Infrastructure, and Others
4.4: APAC Elevators and Escalators Market
4.4.1: APAC Elevators and Escalators Market by Elevator Technology: Traction, Machine-Room-Less, and Hydraulic
4.4.2: APAC Elevators and Escalators Market by End Use: Residential, Commercial, Institutional, Infrastructure, and Others
4.5: ROW Elevators and Escalators Market
4.5.1: ROW Elevators and Escalators Market by Elevator Technology: Traction, Machine-Room-Less, and Hydraulic
4.5.2: ROW Elevators and Escalators Market by End Use: Residential, Commercial, Institutional, Infrastructure, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Elevators and Escalators Market by Elevator Technology
6.1.2: Growth Opportunities for the Global Elevators and Escalators Market by Type
6.1.3: Growth Opportunities for the Global Elevators and Escalators Market by Service
6.1.4: Growth Opportunities for the Global Elevators and Escalators Market by End Use
6.1.5: Growth Opportunities for the Global Elevators and Escalators Market by Region
6.2: Emerging Trends in the Global Elevators and Escalators Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Elevators and Escalators Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Elevators and Escalators Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Schindler Switzerland
7.2: Hitachi
7.3: Kone Corporation
7.4: Hyundai Elevator
7.5: Fujitec
7.6: Otis Elevator Company
7.7: Toshiba Elevator and Building Systems
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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