Elevators and Escalators Market Size, Share, Investment

Opportunities, Top Regions, Growth & Forecast by 2024

The Global Elevators and Escalators Market is estimated to reach USD 135.3 Billion by 2024 at a
CAGR of 6.5%.

Elevators is a platform which is mainly used to transit people vertically within the floors and level
across the building. Whereas, Escalators can be referred as the mode of transporting people through
moving staircase within the building. These are useful in the residential and commercial builds to
transit higher count of population at a time. These offers ease in transporting people especially aged
population across the building at a faster speed. In industries, these are mainly dedicated to
transport the loads and commodities within the warehouse or industrial plant.

Elevators and Escalators Market: Drivers & Restraints

Market Drivers:

Increasing Construction of High Rise Buildings

The concept of high rise building and skyscrapers emerged successfully mainly owing to
development of newer construction material and elevators, which helps to transit people on board
across the building. Overcrowded cities with busier lifestyle, has given birth to the high rise
buildings, which possess higher ability to shelter people. Due to this, advantages, it is used for
residential and commercial purpose. The construction of the tall and high rise building as escalating
at a rapid pace, which is the prominent factor driving the market growth. As per the data shared by
the Council on Tall Buildings and Urban Habitat (CTBUH), the count of the building above height of
200 meters worldwide has been increased 12.3% in 2017, when compared to 2016, whereas, the
building above 300 meters has shown a growth of 66% in 2017 from 2013.

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Rise in Focus On the Modernizing the Commercial Infrastructure

With the world getting more advanced, there exist higher need for more efficient and advanced
technologies. While considering commercial infrastructure, higher focus towards revamping and
modernizing in order to provide higher benefits to the public. Also, increasing installation of the
escalators in the high traffic areas such as railway stations and metro station, for carrying more
population in a single transit, is further pushing the market growth. Increasing projects for
modernizing the railways, metro and airports especially in developing economies such as India, is
further pushing the market growth uphill.
Market Restraints:

High Repair and Maintenance Cost

With excessive usage of elevators in high traffic commercial spaces and moderate to high usage in
residential buildings, there exist the maintenance at regular intervals. The maintenance and repair
cost may or may not be related to the elevator failure, but it is often done in order to promote
smooth working of the lift. The average cost dedicated for maintenance cost ranges from USD 170 to
USD 2000, however, this cost rises in case of emergency. Also, the average Repair and Maintenance
Cost for the elevators and escalators installed in the high rise building is higher than that of the low
rise buildings.

Elevators and Escalators Market: Key Segments

This market research report offers a comprehensive analysis of key market trends in the global
Elevators and escalators market. It includes detailed discussion on historical market trends, current
market dynamics, consumer landscape, growth opportunities and challenges backed by tactful
feedbacks.

 By Elevators, the market is segmented into: Hydraulic Elevators, Traction Elevators,

Climbing Elevators, Pneumatic Elevator and Electromagnetic Propulsion Elevators
 By Escalator, the market is segmented into: Step Type Escalator, Wheelchair escalator,
Spiral Escalator, and Levytator
 By Escalator, the market is segmented into: Residential Apartment, Commercial Complexes,
and Industrial Building and Infrastructure
 Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East &
Africa and South America, with individual country-level analysis.

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List of the leading companies operating in the Elevators and Escalators market include:

 Mitsubishi Electric Corporation (Company Description, Company Overview, Product

Synopsis, Key Developments, SWOT Analysis)
 Schindler Group
 Thyssenkrupp AG
 Otis Elevator Company
 ABB Ltd.
 Hitachi Ltd.
 KONE Corporation
 Fujitec Co., Ltd.
 Cibes Lift Group AB
 Toshiba Elevators
 Other Key Companies

Elevators and Escalators Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Elevators and Escalators Market, by Elevators

Hydraulic Elevators
Traction Elevators

 Geared Traction Elevators

 Gearless Traction Elevators

Climbing Elevators

Pneumatic Elevator

Electromagnetic Propulsion Elevators

Elevators and Escalators Market, by Escalator

 Step Type Escalator

 Wheelchair escalator
 Spiral Escalator
 Levytator

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Elevators and Escalators Market, by Application

Residential Apartment

Commercial Complexes

 Airports
 Railways and Metro Stations
 Commercial Buildings
 Others

Industrial Building and Infrastructure

 Warehouse
 Manufacturing Facility
 Others

Elevators and Escalators Market by Region

 Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)

 North America (US, Canada, Mexico)
 Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
 Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
 South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

 What are the major developments impacting the global market and its growth?
 What will be the effects of the developments in the global market on the industry and on
the market players in the near and far future?
 What are the evolving types of the global market?
 What are the evolving applications of global market?
  What are the major characteristics that will affect the global market growth during the study
period?
 Who are the key players operating in the global market?
 How are the major players leveraging in the existing market conditions?

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