Elevator & Escalator - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Elevator & Escalator Market is accounted for $122.1 billion in 2019 and is expected to reach $222.7 billion by 2027 growing at a CAGR of 7.8% during the forecast period. Energy efficient elevators and escalators and rising investment in infrastructure are the major factors propelling the market growth. However, the increase in escalator and elevator causalities is hampering the market growth.
An elevator can be identified as a closed cabin that is determined by electric motors that either drive traction cables, counterweight systems, or pump hydraulic fluid to raise a cylindrical piston. Elevators are resourceful vertical mobility solutions as they are able to use urban space efficiently and make movement in buildings possible for everyone. An escalator can be defined as a moving staircase, or a conveyor transport device that is used for carrying people between floors of a building. The device traditionally consists of a motor-driven chain of individual, linked steps that move up or down on tracks, allowing the step treads to remain horizontal.
Based on the type, the escalator segment is going to have a lucrative growth during the forecast period. This is attributed to the growing demand from the commercial infrastructures including commercial parks, shopping malls, and others. In addition, the growing aerospace infrastructure development is resulting in the rise in command for escalators and moving walkways. By geography, Asia Pacific is estimated to have a lucrative growth due to the mounting demand from the key economies and developing areas, such as India and South East Asia. China has considerably contributed to the growth of the market revenue and holds the major escalator and elevator market share.
Some of the key players profiled in the Elevator & Escalator Market include Fujitec Co. Ltd., Hitachi, Ltd., Hyundai Elevator Co., Ltd., KONE Oyj, Mitsubishi Electric Corporation, Orona Group, Otis Elevator Company, Schindler Group, ThyssenKrupp AG, Toshiba Corporation, Guangri Elevator, Hangzhou XiOlift, Edunburgh Elevator, Suzhou Diao, and CNYD.
• Maintenance & Repair
• New Installation
• New Equipment
• Suspended Access Platforms
Elevator Technologies Covered:
• Machine Room Less Traction
• Traction With a Room
• Climbing Elevator
• Pneumatic Elevator and Escalator
• Electromagnetic Propulsion Elevators
• Electric Lifts
End Users Covered:
• Commercial Complexes
• Industrial Building and Infrastructure
• Residential Apartment
• Industrial and Marine Industry
• Transportation Hub Area
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
CustomFree ization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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