Elevators & Escalators Market by Type (Elevators, Escalators, Moving walkways), Service(New installation, Maintenance & Repair, and Modernization), Elevator Technology (Traction, Machine-Room-Less, & Hydraulic), & End-use Industry

1. Elevators & Escalators Market worth $183.2 billion by 2026

2. Scope of The Report
By Type
The research report categorizes the Elevators & Escalators Market to forecast the revenues and
analyse the trends in each of the following subsegments :
• Elevators
• Escalators
• Moving walkways
By Service
• New installation
• Maintenance & Repair
• Modernization
And More…
By Elevator Technology
• Traction
• Machine-Room-Less
• Hydraulic

3. Key Segments & Report Highlights
Coverage of impact of COVID-19 on Elevators & Escalators Market
Newer and improved representation of financial information
Recent Market Developments
Company Profiles in Elevators & Escalators Market
Based on Type, Service, Technology, End-use Industry & Region
1
2
3
4
5

4. Market Growth Rate
1. COVID-19 impact on global elevators and escalators market
2. Elevators and escalators Market Dynamics
3. Restraint: High maintenance cost
4. Opportunity: Development of innovative technologies and rising demand for smart elevators
5. Challenge: Compliance with standards and regulations
6. In terms of value & volume, permanent labels dominated the elevators and escalators market in 2020.
7. Significant increase in the demand for elevators and escalators in the residential industry
8. APAC region to lead the global elevators and escalators market by 2026.
2026
Market Size of
$134.4 Billion
Market Size of
$183.2 Billion
2021

5. Infographics Repots

6. Key Vendors
• Schindler Group (Switzerland)
• Otis Elevator (US)
• Thyssenkrupp AG (Germany)
• KONE Corporation (Finland)
• Hitachi Ltd. (Japan)
Vendors
View Report Here - https://www.marketsandmarkets.com/Market-Reports/elevat
or-escalator-market-221792102.html

7. Major Regions
• North America
• APAC
• Europe
• Latin America
• MAE

8. Recent Developments
• In February 2021, Schindler signed a partnership agreement with citizenM hotels, the leading Netherlands-ba
sed boutique hotel chain, to provide service and modernization for escalators and elevators in all of the Group
’s existing buildings across the globe, as well as the installation of future vertical mobility solutions in the chain
’s new hotels.
• In October 2020, Hitachi Ltd. acquired 9.99% share in Yungtay Engineering (Taiwan) to strengthen its elevato
r and escalator business. To date, Hitachi has acquired ~51% share in Yungtgay.
• In July 2020, CCL Industries Inc. acquired InTouch Labels and Packaging Co., Inc. (InTouch), near Boston, M
assachusetts. InTouch is a specialized short-run digital label converter and was added to Avery’s direct-to-con
sumer operations.
• In August 2020, Otis acquired Bay State Elevator to expand in the northeast US. The acquisition includes the
company service portfolio and operations in Massachusetts, Connecticut, Vermont, and upstate New York.
• In May 2019, Schindler and Telefónica announced a global partnership for digital connectivity. Under the agre
ement, Telefónica will be the IoT and network connectivity partner for Schindler’s digital offering for smart elev
ators and escalators.

9. Research Coverage
The market study covers the elevators and escalators market across various segments. It ai
ms at estimating the market size and the growth potential of this market across different seg
ments based on type, service, elevator technology, end-use industry, and region. The study
also includes an in-depth competitive analysis of key players in the market, along with their c
ompany profiles, key observations related to their products and business offerings, recent d
evelopments undertaken by them, and key growth strategies adopted by them to enhance th
eir position in the elevators and escalators market.

10. Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with informatio
n on the closest approximations of the revenue numbers of the overall elevators and escalat
ors market and its segments and sub-segments. This report is projected to help stakeholder
s understand the competitive landscape of the market and gain insights to improve the positi
on of their businesses and plan suitable go-to-market strategies. The report also aims at hel
ping stakeholders understand the pulse of the market and provides them with information on
the key market drivers, challenges, and opportunities.

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