Escalator & Moving Walkway Trends and Forecast
The future of the global escalator & moving walkway market looks promising with opportunities in the escalator & moving walkway, escalator, and moving walkway markets. The global escalator & moving walkway market is expected to reach an estimated $22.7 billion by 2030 with a CAGR of 4.7% from 2024 to 2030. The major drivers for this market are urbanization and infrastructure development projects, along with the growing focus on enhancing passenger safety and accessibility in public spaces.
• Lucintel forecasts that escalator will remain the larger segment over the forecast period.
• Within this market, escalator & moving walkway will remain the largest segment.
• APAC is expected to witness highest growth over the forecast period.
United States - Companies like Otis Elevator Company introduce smart escalators and moving walkways with predictive maintenance features. Government targets aim to enhance accessibility standards in public spaces, encouraging the installation of escalators and moving walkways in transit stations and airports to improve passenger experience.
China - Chinese companies, such as Schindler Group, focus on expanding manufacturing capacities to meet the growing demand for escalators and moving walkways in urban development projects. Government initiatives promote infrastructure modernization and urbanization, setting targets for the installation of escalators and moving walkways in new construction projects to enhance public transportation efficiency.
Germany - German companies like Thyssenkrupp Elevator AG invest in energy-efficient escalators and moving walkways to meet sustainability targets. The government encourages the retrofitting of existing buildings with eco-friendly escalator systems to reduce carbon emissions and improve energy efficiency in public infrastructure.
India - Indian companies, including Johnson Lifts Pvt Ltd, aim to improve passenger safety features in escalators and moving walkways. Government targets focus on enhancing safety regulations and standards for vertical transportation systems to reduce accidents and ensure public safety in crowded urban areas.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Escalator & Moving Walkway by Segment
The study includes a forecast for the global escalator & moving walkway by product, business type, application, and region.
Escalator & Moving Walkway Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Escalators
• Moving Walkways
Escalator & Moving Walkway Market by Business Type [Shipment Analysis by Value from 2018 to 2030]:
• New Equipment
• Maintenance
• Modernization
Escalator & Moving Walkway Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Escalators & Moving Walkways
• Escalators
• Moving Walkways
Escalator & Moving Walkway Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Escalator & Moving Walkway 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 escalator & moving walkway companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the escalator & moving walkway companies profiled in this report include-
• KONE Corporation
• Otis Worldwide Corporation
• Schindler
• TK Elevators
• FUJITEC
• Toshiba Corporation
• HYUNDAI ELEVATOR
• Sigma Elevator Company
• Kleemann Hellas
• ThyssenKrupp
Recent Development in the Escalator & Moving Walkway Market
Otis Elevator Company: Otis introduces "OtisONE," a smart escalator and moving walkway maintenance system utilizing predictive analytics to optimize performance and reduce downtime, enhancing customer experience and operational efficiency.
Schindler Group: Schindler Group expands manufacturing capacities in China to meet increasing demand for escalators and moving walkways in urban development projects, aiming to support infrastructure modernization and enhance public transportation efficiency.
Thyssenkrupp Elevator AG: Thyssenkrupp Elevator invests in the development of energy-efficient escalators and moving walkways, focusing on eco-friendly design and technology to meet sustainability goals and reduce environmental impact in vertical transportation systems.
Johnson Lifts Pvt Ltd: Johnson Lifts enhances passenger safety features in escalators and moving walkways, introducing advanced safety systems and protocols to minimize accidents and ensure public safety in crowded urban areas, improving overall passenger experience.
Features of the Global Escalator & Moving Walkway Market
Market Size Estimates: Escalator & moving walkway 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: Escalator & moving walkway market size by product, business type, application, and region in terms of value ($B).
Regional Analysis: Escalator & moving walkway market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, business types, applications, and regions for the escalator & moving walkway market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the escalator & moving walkway market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the escalator & moving walkway market size?
Answer: The global escalator & moving walkway market is expected to reach an estimated $22.7 billion by 2030.
Q2. What is the growth forecast for escalator & moving walkway market?
Answer: The global escalator & moving walkway market is expected to grow with a CAGR of 4.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the escalator & moving walkway market?
Answer: The major drivers for this market are urbanization and infrastructure development projects, along with the growing focus on enhancing passenger safety and accessibility in public spaces.
Q4. What are the major segments for escalator & moving walkway market?
Answer: The future of the global escalator & moving walkway market looks promising with opportunities in the escalator & moving walkway, escalator, and moving walkway markets.
Q5. Who are the key escalator & moving walkway market companies?
Answer: Some of the key escalator & moving walkway companies are as follows:
• KONE Corporation
• Otis Worldwide Corporation
• Schindler
• TK Elevators
• FUJITEC
• Toshiba Corporation
• HYUNDAI ELEVATOR
• Sigma Elevator Company
• Kleemann Hellas
• ThyssenKrupp
Q6. Which escalator & moving walkway market segment will be the largest in future?
Answer: Lucintel forecasts that escalator will remain the larger segment over the forecast period.
Q7. In escalator & moving walkway 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.
Q8. 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 escalator & moving walkway market by product (escalators and moving walkways), business type (new equipment, maintenance, and modernization), application (escalators & moving walkways, escalators, and moving walkways), 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?
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