The global market for Elevators and Escalators was valued at US$79.2 Billion in 2024 and is projected to reach US$107.2 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the elevators and escalators market is driven by several factors. Urbanization and the proliferation of high-rise buildings are primary drivers, as the need for efficient vertical transportation systems becomes more critical in densely populated cities. The expansion of public transportation networks, such as subways and airports, also fuels demand for escalators and elevators to manage the high passenger flow. Additionally, technological advancements and the push for smart buildings have led to the adoption of more sophisticated and efficient systems. The aging population is another significant factor, increasing the need for accessible transportation solutions in residential and public buildings. Furthermore, the rising emphasis on safety and regulatory compliance has prompted the modernization and replacement of outdated systems with advanced, compliant technologies. These factors collectively underscore the robust growth trajectory of the elevators and escalators market, reflecting its crucial role in supporting urban mobility and infrastructure development.
Technological advancements have significantly improved the functionality and efficiency of elevators and escalators. Modern elevators are now equipped with destination control systems that optimize passenger distribution by grouping users with similar destinations, reducing wait times and energy consumption. Moreover, the integration of smart technologies, such as IoT and AI, allows for real-time monitoring and predictive maintenance, minimizing downtime and enhancing operational efficiency. Escalators have also seen innovations, including energy-saving features like variable speed drives and sensors that adjust speed based on passenger load. Additionally, both elevators and escalators are increasingly incorporating eco-friendly materials and energy-efficient designs to reduce their environmental footprint. These advancements not only enhance performance and user experience but also align with global sustainability goals.
Global Elevators and Escalators Market - Key Trends & Drivers Summarized
Elevators and escalators are essential components of modern urban infrastructure, facilitating the efficient movement of people within buildings and across transportation hubs. Elevators, which transport passengers and goods vertically between floors, are crucial in high-rise buildings, enabling quick and convenient access to different levels. They are equipped with advanced safety features, including emergency brakes, communication systems, and door sensors, to ensure passenger security. Escalators, on the other hand, provide continuous vertical transportation on inclined planes, commonly found in shopping malls, airports, and metro stations. Both systems are designed to handle large volumes of traffic smoothly and reliably, playing a vital role in maintaining the flow of people in densely populated environments.The growth in the elevators and escalators market is driven by several factors. Urbanization and the proliferation of high-rise buildings are primary drivers, as the need for efficient vertical transportation systems becomes more critical in densely populated cities. The expansion of public transportation networks, such as subways and airports, also fuels demand for escalators and elevators to manage the high passenger flow. Additionally, technological advancements and the push for smart buildings have led to the adoption of more sophisticated and efficient systems. The aging population is another significant factor, increasing the need for accessible transportation solutions in residential and public buildings. Furthermore, the rising emphasis on safety and regulatory compliance has prompted the modernization and replacement of outdated systems with advanced, compliant technologies. These factors collectively underscore the robust growth trajectory of the elevators and escalators market, reflecting its crucial role in supporting urban mobility and infrastructure development.
Technological advancements have significantly improved the functionality and efficiency of elevators and escalators. Modern elevators are now equipped with destination control systems that optimize passenger distribution by grouping users with similar destinations, reducing wait times and energy consumption. Moreover, the integration of smart technologies, such as IoT and AI, allows for real-time monitoring and predictive maintenance, minimizing downtime and enhancing operational efficiency. Escalators have also seen innovations, including energy-saving features like variable speed drives and sensors that adjust speed based on passenger load. Additionally, both elevators and escalators are increasingly incorporating eco-friendly materials and energy-efficient designs to reduce their environmental footprint. These advancements not only enhance performance and user experience but also align with global sustainability goals.
Scope of the Study
The report analyzes the Elevators and Escalators market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments:
Type (Elevators, Escalators); Service (New Installation, Maintenance & Repair, Modernization).Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Elevators segment, which is expected to reach US$97.4 Billion by 2030 with a CAGR of a 5.2%. The Escalators segment is also set to grow at 4.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $8.8 Billion in 2024, and China, forecasted to grow at an impressive 6.6% CAGR to reach $29.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Canny Elevator Co., Ltd., Fujitec Co., Ltd., Hitachi Ltd., Hyundai Elevators Co., Ltd., Johnson Lifts Private Limited and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Elevators and Escalators Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Elevators and Escalators Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Elevators and Escalators Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 211 major companies featured in this Elevators and Escalators market report include:
- Canny Elevator Co., Ltd.
- Fujitec Co., Ltd.
- Hitachi Ltd.
- Hyundai Elevators Co., Ltd.
- Johnson Lifts Private Limited
- Kleemann Hellas S.A.
- KONE Corporation
- Mitsubishi Electric Corporation
- Otis Worldwide Corporation
- Savaria Corporation
- Schindler Group
- Shanghai Mitsubishi Elevator Co., Ltd. (SMEC)
- Sigma Elevator Company Limited
- SJEC Corporation
- TK Elevator Holding GmbH
- Toshiba Elevator and Building Systems Corporation
Table of Contents
I. METHODOLOGYMII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISRUSSIAREST OF EUROPEREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
LATIN AMERICA
MIDDLE EAST
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Canny Elevator Co., Ltd.
- Fujitec Co., Ltd.
- Hitachi Ltd.
- Hyundai Elevators Co., Ltd.
- Johnson Lifts Private Limited
- Kleemann Hellas S.A.
- KONE Corporation
- Mitsubishi Electric Corporation
- Otis Worldwide Corporation
- Savaria Corporation
- Schindler Group
- Shanghai Mitsubishi Elevator Co., Ltd. (SMEC)
- Sigma Elevator Company Limited
- SJEC Corporation
- TK Elevator Holding GmbH
- Toshiba Elevator and Building Systems Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 728 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 79.2 Billion |
| Forecasted Market Value ( USD | $ 107.2 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
