Escalators and Moving Walkways Market Report 2025

The escalators and moving walkways market size has grown strongly in recent years. It will grow from $18.44 billion in 2024 to $19.44 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to urbanization and population density in urban centers, growth in commercial and public infrastructure projects, expansion of airports, malls, and transportation hubs, focus on enhancing passenger convenience and mobility, increased focus on safety and accessibility standards.

The escalators and moving walkways market size is expected to see strong growth in the next few years. It will grow to $24.91 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to adoption of escalators and moving walkways in smart cities, retrofitting and modernization of existing transportation infrastructure, demand for high-capacity and heavy-duty escalators, expansion of mass transit systems and metro networks, focus on touchless and hygienic escalator solutions. Major trends in the forecast period include integration of iot and smart connectivity, energy-efficient and regenerative drive systems, design innovation for improved aesthetics and integration, touchless and uv-c disinfection solutions, advanced materials for enhanced durability, remote monitoring and predictive maintenance.

The robust performance of the global commercial real estate market is set to drive the growth of the escalators and moving walkways market. Commercial real estate, encompassing the development of commercial activities and large residential properties, utilizes escalators and moving walkways in buildings to facilitate vertical transportation of people and goods. Notably, in 2021, CBRE Group, Inc., a US-based commercial real estate services and investment company, reported a record investment of USD 1.3 trillion in commercial real estate globally, marking a 55% increase from 2020. The Americas experienced an 83% surge in annual investment volume, surpassing USD 775 billion in 2021. This surge in investments in commercial real estate worldwide is a key driver propelling the growth of the escalator and moving walkway markets.

Anticipated growth in the escalators and moving walkways market is further propelled by increased government funding for infrastructure development. Infrastructure projects, including transportation hubs, modernized public spaces, and urban mobility initiatives, drive demand for these systems. Government initiatives, economic growth, sustainability goals, and considerations for public safety contribute to the integral role of escalators and moving walkways in creating accessible, safe, and efficient urban environments. For instance, in November 2022, the Australian government allocated $12.04 billion (A$17.9 billion) over ten years for significant infrastructure projects, with an estimated total investment in major public infrastructure exceeding $146.72 billion (A$218 billion) between 2021 and 2025. Additionally, the Infrastructure Investment and Jobs Act (IIJA) in the United States, passed in November 2021 with an investment of $1.2 trillion, earmarks $550 billion over the next ten years for improving roads, bridges, airports, and railroads. This surge in government funding for infrastructure development is a significant driver of the growth of the escalators and moving walkways market.

New product innovation is a significant trend gaining traction in the escalators and moving walkways market. Major companies in this sector are concentrating on introducing new products to maintain their competitive edge. For instance, in August 2024, Otis Elevator Sdn Bhd, a Malaysia-based transport company, launched its Gen3™ digitally connected elevator, which enhances the lift-riding experience through advanced connectivity features. The Gen3 elevator integrates with the Otis ONE IoT digital platform, enabling real-time monitoring of equipment health and performance, thereby facilitating proactive maintenance and reducing downtime. Designed for various building types - including residential, commercial, and medical - the Gen3 offers options for both machine room and machine-roomless configurations. Notable features include the Otis eView display for infotainment, Compass 360 technology for optimized travel efficiency, and energy-saving components such as LED lighting and regenerative drives.

Leading companies in the escalators and moving walkways market are actively pursuing the development of new technologies to secure a competitive advantage. In a noteworthy move in September 2022, TK Elevator, a Germany-based industrial machinery manufacturing company, introduced a range of Application Programming Interfaces (APIs). These APIs serve to connect TK Elevator's elevators and escalators to customer systems and smart buildings, ushering in a new era of smart mobility solutions. The open interfaces provided by these APIs empower building operators, enabling them to integrate elevator and escalator data into their management systems for real-time monitoring. Furthermore, passengers can control elevators using a smartphone app, and the APIs offer opportunities for connecting service robots to elevators. This technological advancement exemplifies TK Elevator's commitment to innovation and its focus on providing enhanced, interconnected solutions in the escalators and moving walkways market.

In April 2022, Hitachi, a Japan-based manufacturer of heavy electronic goods, made a strategic move by acquiring Yungtay Engineering Co. for a deal amounting to $7.6 billion. This acquisition enabled Hitachi to leverage digital technologies such as the Internet of Things (IoT) to develop new elevator products. Additionally, the acquisition strengthened Hitachi's base in the elevator and escalator business in China and Asia. Yungtay Engineering Co., based in Taiwan, is involved in the production, distribution, and maintenance of elevators and escalators. The incorporation of digital technologies through this acquisition underscores Hitachi's commitment to innovation and its goal of expanding its presence and capabilities in the rapidly evolving escalators and moving walkways market.

Major companies operating in the escalators and moving walkways market include Kone Oyj, Оtіѕ Еlеvаtоr Соmраnу, Schindler Group, Mitsubishi Electric Corporation, Fujitec Co. Ltd., ThyssenKrupp AG, Sigma Elevator Co. Ltd., Hyundai Elevator Co. Ltd., Toshiba Corporation, Hitachi Ltd., Canny Elevator Co. Ltd., Kleemann Hellas SA, Shanghai Mitsubishi Elevator Co. Ltd., Ningbo Xinda Group Co. Ltd., Guangdong Huasheng Electrical Appliances Co. Ltd., Sicher Elevator Co. Ltd., Shenyang Brilliant Elevator Co. Ltd., Hangzhou Xizi Elevator Co. Ltd., Suzhou Ostar Elevator Co. Ltd., Sodimas, Excel Elevator and Escalator Corp., Elevator Technology (Shenyang) Co. Ltd., Vintec Elevators Private Limited, Anlev Elex Elevator Co. Ltd., Sematic Group.

Escalators and moving walkways are mechanical devices designed to transport people and goods between different floors of a building, providing a convenient and efficient means of vertical movement. Escalators, resembling moving staircases, consist of a continuous loop of single-piece stainless steel or aluminum steps that convey individuals between floors. These are commonly found in high-traffic locations such as malls, airports, public transportation hubs, exposition halls, hotels, and arenas. Moving walkways, on the other hand, are used to transport individuals and luggage over longer distances, especially in airports, offering a solution for the smooth and uninterrupted flow of people throughout buildings.

The primary products in the escalators and moving walkways category are, unsurprisingly, escalators and moving walkways. Escalators are instrumental in facilitating the movement of large crowds, enhancing accessibility in structures where significant foot traffic is expected. The applications of these systems extend across various sectors, including public transit, airports, retail establishments, institutional buildings, and others, contributing to the efficient vertical mobility of individuals within diverse environments.

The escalators and moving walkways market research report is one of a series of new reports that provides escalators and moving walkways market statistics, including escalators and moving walkways industry global market size, regional shares, competitors with an escalators and moving walkways market share, detailed escalators and moving walkways market segments, market trends and opportunities, and any further data you may need to thrive in the escalators and moving walkways industry. This escalators and moving walkways market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

North America was the largest region in the escalators and moving walkway market in 2024. The regions covered in the global escalators and moving walkways market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the escalators and moving walkways market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The escalators and moving walkways market consists of sales of walkway system, motors, controls, and lighting, truss, tracks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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