Home Blog Business Elevator and Escalator Market Size is Surpassing 7.8% CAGR Growth by 2030 | MarkNtel Advisors
Elevator and Escalator Market Size is Surpassing 7.8% CAGR Growth by 2030 | MarkNtel Advisors

Elevator and Escalator Market Size is Surpassing 7.8% CAGR Growth by 2030 | MarkNtel Advisors

Report Overview:

The following report titled “Global Elevator and Escalator MarketBy Type (Elevator, [Traction, Hydraulic, Machine Room Less], Escalator, [Moving Walkway, Moving Stairs]), By Service (New Installation, Modernization, Maintenance)a nd other forecast 2024-2030” provides a comprehensive analysis of the market, focusing on key details such as market size, growth trends, determinants of growth, segments covered, and the role of leading players in the industry.

Global Elevator and Escalator Market Summary

The Global Elevator and Escalator Market size was valued at around USD 125.5 billion in 2023 & is estimated to grow at a CAGR of around 7.8% during the forecast period, i.e., 2024-30. Most of the market expansion can be attributed to the rapid urbanization worldwide, resulting in the erection of more buildings and the modernization of age-old infrastructure in the coming years. According to the World Bank, 56% of the world’s population, i.e., 4.4 billion inhabitants, were residing in cities as of 2022. The urban population is on the verge of folding itself by 2050 to the extent that nearly 7 out of 10 people will be living in cities.

Report Coverage & Details

  • Forecast Period:  2024-2030
  • Base Year: 2023
  • Market Size in 2023: USD 125.5 Billion
  • CAGR: 7.8%

Download Free PDF Brochure: – https://www.marknteladvisors.com/query/request-sample/elevator-and-escalator-market.html

Elevator and Escalator Market Trend:

Growing Demand for IoT-Integrated Elevators & Escalators – With the advent of advanced technologies such as the Internet of Things (IoT) and its integration into elevators & escalators, manufacturers have maximized their revenues in the past few years. The integration has led to the smooth functioning of these setups in terms of gathering, analyzing, and exchanging data and maintaining entry and exit-related records. Other than this, the IoT has enabled elevators and escalators to anticipate traffic and respond in real time with minimal error. These advantages have compelled investors and manufacturers to integrate such products with cutting-edge technologies, which, in turn, is augmenting the market size & volume.

Segmentation Analysis: Elevator and Escalator Market

By Type

  • Elevator
    • Traction- Market Size & Forecast 2019-2030, (Thousand Units)
    • Hydraulic- Market Size & Forecast 2019-2030, (Thousand Units)
    • Machine Room Less- Market Size & Forecast 2019-2030, (Thousand Units)
  • Escalator
    • Moving Walkway- Market Size & Forecast 2019-2030, (Thousand Units)
    • Moving Stairs- Market Size & Forecast 2019-2030, (Thousand Units)

 By Service

  • New Installation- Market Size & Forecast 2019-2030, (Thousand Units)
  • Modernization- Market Size & Forecast 2019-2030, (USD Million)
  • Maintenance- Market Size & Forecast 2019-2030, (USD Million)

 By Application

  • Residential- Market Size & Forecast 2019-2030, (Thousand Units)
  • Commercial- Market Size & Forecast 2019-2030, (Thousand Units)
  • Industrial- Market Size & Forecast 2019-2030, (Thousand Units)

By Region

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Access Full Report [Include Description + TOC] – https://www.marknteladvisors.com/research-library/elevator-and-escalator-market.html

Region: Asia-Pacific Holds a Major Market Share

Among them, Geographically, the Asia-Pacific region has historically acquired a significant market share of the Global Escalator and Elevator Market.

Leading Players Analysis: Elevator and Escalator Market

The report provides detailed analysis of key players in the global Elevator and Escalator market, highlighting their strategies and competitive scenario.

  • Fujitec Co. Ltd.
  • Hitachi Elevator Engineering Company
  • KONE
  • Canny Elevator Company Ltd.
  • Toshiba Elevator and Building Systems Corporation
  • Hyundai Elevator Co., Ltd.
  • Mitsubishi Electric Corporation
  • ORONA, Otis Worldwide Corporation
  • Schindler Holding Ltd.
  • ThyssenKrupp Elevator AG
  • SJEC Corp.
  • Sigma Elevators
  • Walton group
  • Electra Elevators
  • Others.

Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.

For Customized Report Inquiry: – https://www.marknteladvisors.com/query/request-customization/elevator-and-escalator-market.html

Key Benefits for Stakeholders:

  1. Informed Decision-Making: Access to comprehensive and insightful market research reports enables stakeholders to make well-informed decisions, leading to more strategic and successful initiatives.
  2. Strategic Planning: The strategic reports provided by MarkNtel Advisors empower stakeholders to formulate robust strategies for market entry, product development, and competitive positioning.
  3. Market Sizing & Forecasting: Stakeholders can benefit from accurate market sizing and forecasting data to make informed investment and resource allocation decisions, minimizing risks and maximizing returns.
  4. Competitive Benchmarking: The availability of competitive benchmarking data allows stakeholders to assess their performance against industry peers, identify areas for improvement, and capitalize on strengths.
  5. Identifying Investment Opportunities: Through trend analysis and industry insights, stakeholders can identify attractive investment opportunities and stay ahead in the market for better ROI.

About us

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, Saudi Arabia, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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