The global elevator and escalator market size reached US$ 154.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 239.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.89% during 2024-2032. More Info:- https://www.imarcgroup.com/elevator-escalator-market

1. Global Elevator and
Escalator Market
Research and Forecast
Report 2024-2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved

2. About IMARC Group
International Market Analysis Research and Consulting Group is a leading adviser on management
strategy and market research worldwide. We partner with clients in all regions and industry
verticals to identify their highest-value opportunities, address their most critical challenges, and
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IMARC’s information products include major market, scientific, economic and technological
developments for business leaders in pharmaceutical, industrial, and high technology
organizations. Market forecasts and industry analysis for biotechnology, advanced materials,
chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods
are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and
markets with close cooperation at all levels of the client organization. This ensures that our clients
achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting
results.

3. Report Highlight
and Description
According to the latest report by IMARC Group, titled "Elevator and Escalator
Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2024-2032," the global elevator and escalator market size reached
US$ 154.0 Billion in 2023.
Factors Affecting the Growth of the Elevator and Escalator Industry:
Thriving Construction Industry:
The growing demand for elevator and escalator systems on account of the
thriving construction industry is offering a positive market outlook. In addition,
there is a rise in the number of residential buildings, offices, complexes,
airports, and shopping malls due to rapid urbanization across the globe.
Apart from this, these systems provide enhanced convenience and mobility to
people. Moreover, they assist in saving time by efficiently moving large number
of people from one level of a building to another level, which is impelling the
market growth.

4. Report Highlight
and Description
Technological Advancements:
Technological advancements in elevator and escalator systems, such as the
integration of the Internet of Things (IoT) connectivity, to provide predictive
maintenance solutions is bolstering the growth of the market. In addition,
predictive maintenance technology monitors equipment health, minimizes
downtime, and enhances the reliability of these systems.
Besides this, energy-efficient features like regenerative drives and recover and
reuse energy assist in reducing operating costs and environmental impact.
These advancements enhance user experience, increase safety, and promote
sustainability, making elevator and escalator systems essential in modern
buildings and urban infrastructures.
Rising Demand for Eco-Friendly Elevators and Escalators:
The rising demand for eco-friendly elevator and escalator systems to maintain
environmental sustainability is strengthening the growth of the market.

5. Report Highlight
and Description
In line with this, eco-friendly models incorporate energy-efficient technologies,
such as regenerative drives and light emitting diode (LED) lighting, to reduce
power consumption. They can also minimize carbon emissions and lower
operational costs for building owners. Additionally, the rising focus on green
building practices and energy conservation is propelling the market growth.
Furthermore, people are increasingly seeking environment-friendly solutions
that align with modern sustainability standards.
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6. Report Description
Global Elevator and Escalator Market Trends:
Key manufacturers are investing in research and development (R&D) activities to meet the safety requirements of
people. The integration of features like redundant safety systems, emergency communication devices, and
automatic rescue devices in elevator and escalator systems is impelling the market growth.
Regular maintenance is crucial to ensure the safety and reliability of these systems. Additionally, upgrading older
systems with energy-efficient technology and improved safety features is a cost-effective solution. Furthermore,
the rising focus on updating new elevator and escalator systems with advanced systems is propelling the market
growth.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/elevator-escalator-market

7. Report
Segmentation
Breakup by Type:
• Elevators
• Escalators
• Moving Walkways
Breakup by Service:
• New Installation
• Maintenance and Repair
• Modernization
Breakup by End Use:
• Residential
• Commercial

8. Report
Segmentation
o Offices
o Hospitality
o Mixed Block
o Others
Breakup by Region:
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

9. Competitive
Landscape with
Key Players
• Canny Elevator Co. Ltd.
• Electra Elevators
• Fujitec Co. Ltd.
• Gulf Elevators & Escalators Co. Ltd.
• Hitachi Ltd.
• Hyundai Elevator Co. Ltd.
• Johnson Lifts Private Limited
• Kleemann Group
• KONE Corporation
• Mitsubishi Electric Corporation
• Otis Elevator Company (I). Ltd (Otis Worldwide
Corporation)
• Schindler Holding Ltd.
• Sigma Elevator Company
• Toshiba Elevator and Building Systems
Corporation (Toshiba Corporation)

10. Key Questions
Answered in
the Report
How big is the global elevator and escalator market?
What is the expected growth rate of the global elevator and
escalator market during 2024-2032?
What are the key factors driving the global elevator and escalator
market?
What has been the impact of COVID-19 on the global elevator and
escalator market?
What is the breakup of the global elevator and escalator market
based on the type?
What is the breakup of the global elevator and escalator market
based on the service?
What is the breakup of the global elevator and escalator market
based on the end use?
What are the key regions in the global elevator and escalator
market?
Who are the key players/companies in the global elevator and
escalator market?

11. Table of
Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Elevator and Escalator Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Elevators
6.1.1 Market Trends
6.1.2 Mark et Forecast
6.2 Escalators
6.2.1 Mark et Trends
6.2.2 Mark et Forecast
6.3 Moving W alkways
6.3.1 Mark et Trends
6.3.2 Mark et Forecast
7 Market Breakup by Service

12. Table of
Contents
7.1 New Installation
7.1.1 Mark et Trends
7.1.2 Mark et Forecast
7.2 Maintenance and Repair
7.2.1 Market Trends
7.2.2 Mark et Forecast
7.3 Modernization
7.3.1 Mark et Trends
7.3.2 Mark et Forecast
8 Market Breakup by End Use
8.1 Residential
8.1.1 Mark et Trends
8.1.2 Mark et Forecast
8.2 Commercial
8.2.1 Mark et Trends
8.2.2 Key Segments
8.2.2.1 Offices
8.2.2.2 Hospitality
8.2.2.3 Mixed Block
8.2.2.4 Others
8.2.3 Mark et Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Mark et Trends
9.1.1.2 Mark et Forecast
9.1.2 Canada
9.1.2.1 Mark et Trends
9.1.2.2 Mark et Forecast
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13. Partial List of Clients

14. Partial List of Clients

15. Disclaimer
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opinion have been based on information and sources believed to be accurate and reliable at
the time of publishing. International Market Analysis Research and Consulting makes no
representation of warranty of any kind as to the accuracy or completeness of any Information
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