China's Elevator and Escalator Market

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With increase in urban population & investment in infrastructure sector, China's elevator & escalator market is expected to grow at a CAGR of 14%. Read on to know detailed forecast from Aranca's Business Research Experts.

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Elevators and escalators have become an integral part of daily lives of billions people around the world. With the growth in construction and real estate sector, the demand for elevator and escalator is gradually increasing. This market can be broadly segmented based on new installation, refurbishment, and maintenance. Revenue generated from new installation accounts for around half of the total market while the service segments such as refurbishment and maintenance together contribute the remaining half. Emerging countries such as China, India, and Brazil are driving the new installation segment whereas the service segments are witnessing steady growth from the developed countries such as the U.S., the U.K., France, and Germany among others.

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