Global Elevator And Escalator Market 2023-2027
The elevator and escalator market is forecasted to grow by USD 60.75 bn during 2022-2027, accelerating at a CAGR of 8.92% during the forecast period. The report on the elevator and escalator market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for smart elevators, growing number of construction activities, and growing investment in smart cities.
Technavio's elevator and escalator market is segmented as below:
By Geographical Landscape
- Middle East and Africa
- North America
- South America
This study identifies the elevator maintenance using IoT platforms as one of the prime reasons driving the elevator and escalator market growth during the next few years. Also, use of regenerative drives in elevators and escalators and the adaption of energy-efficient elevators and escalators will lead to sizable demand in the market.
The report on the elevator and escalator market covers the following areas:
- Elevator and escalator market sizing
- Elevator and escalator market forecast
- Elevator and escalator market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading elevator and escalator market vendors that include Braun Elevator, Brobeil Aufzuge GmbH and Co.KG, ESCON Elevators Pvt. Ltd., Fuji Electric Co. Ltd., Fuji Elevators Co., Fujitec Co. Ltd., HIRO LIFT Hillenkotter and Ronsieck GmbH, Hitachi Ltd., Hyundai Elevator Co. Ltd., Kohler Co., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Savaria Corp., SCHAEFER GmbH, Schindler Holding Ltd., thyssenkrupp AG, Toshiba Corp., Weidmuller Interface GmbH and Co. KG, and WITTUR HOLDING GmbH. Also, the elevator and escalator market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.