Global Elevators and Escalators Market Size, Share, and Growth & Trends Analysis By Type (Escalator, Elevators, Moving Walkways, Others); By Service (Modernization, New Installation, Maintenance and Repair); By End Use (Residential, Commercial, Institutio
Description
Global Elevators and Escalators Market, valued at USD 94.05 billion in 2024, is projected to reach USD 180 billion by 2033, registering a CAGR of 7.5%. This steady growth is driven by rapid urbanization, infrastructure development, and the rising demand for efficient vertical transportation in high-rise buildings, malls, airports, and transit hubs. The market encompasses elevators, escalators, and moving walkways, with services including new installations, maintenance, and modernization. Technological advancements, such as AI and IoT-integrated smart elevators, energy-efficient systems, and enhanced safety features, are key growth catalysts. Asia-Pacific leads with extensive construction in China and India, while North America and Europe focus on modernization and sustainability.
Challenges include high installation and maintenance costs, stringent safety regulations varying by region, and energy consumption concerns, which may limit adoption in cost-sensitive markets. Opportunities lie in smart city initiatives requiring advanced transport solutions, eco-friendly designs reducing carbon footprints, and growing maintenance needs for aging systems. Emerging markets offer potential as urban populations expand, driving demand for residential and commercial infrastructure.
Segment insights highlight elevators as the dominant type due to widespread use, new installations leading services for new constructions, and commercial sectors like offices and retail as key end-uses. Companies such as Otis, Schindler, and KONE are advancing with green technologies and connected systems. The market's trajectory balances cost and innovation, ensuring safe, efficient vertical mobility aligned with global urbanization and environmental goals.
Market Segments:
By Type:
Escalator
Elevators
Moving Walkways
Others
By Service:
Modernization
New Installation
Maintenance and Repair
By End Use:
Residential
Commercial
Institutional
Others
By Region:
North America
Asia Pacific
Europe
Middle East & Africa
South America
Please note - Delivery Timeline: 3-5 Business Days
Challenges include high installation and maintenance costs, stringent safety regulations varying by region, and energy consumption concerns, which may limit adoption in cost-sensitive markets. Opportunities lie in smart city initiatives requiring advanced transport solutions, eco-friendly designs reducing carbon footprints, and growing maintenance needs for aging systems. Emerging markets offer potential as urban populations expand, driving demand for residential and commercial infrastructure.
Segment insights highlight elevators as the dominant type due to widespread use, new installations leading services for new constructions, and commercial sectors like offices and retail as key end-uses. Companies such as Otis, Schindler, and KONE are advancing with green technologies and connected systems. The market's trajectory balances cost and innovation, ensuring safe, efficient vertical mobility aligned with global urbanization and environmental goals.
Market Segments:
By Type:
Escalator
Elevators
Moving Walkways
Others
By Service:
Modernization
New Installation
Maintenance and Repair
By End Use:
Residential
Commercial
Institutional
Others
By Region:
North America
Asia Pacific
Europe
Middle East & Africa
South America
Please note - Delivery Timeline: 3-5 Business Days
Table of Contents
257 Pages
- 1. Research Methodology
- 1.1. Desk Research
- 1.2. Real Time Insights and Validation
- 1.3. Forecast Model
- 1.4. Assumptions and Forecast Parameters
- 1.4.1. Assumptions
- 1.4.2. Forecast Parameters
- 1.5. Data Sources
- 1.5.1. Primary
- 1.5.2. Secondary
- 2. Executive Summary
- 2.1. 360° Summary
- 2.2. By Type
- 2.3. By Service
- 2.4. By End User
- 3. Market Overview
- 3.1. Market Segmentation & Definitions
- 3.2. Key Takeaways
- 3.2.1. Top Investment Pockets
- 3.2.2. Top Winning Strategies
- 3.3. Porter’s Five Forces Analysis
- 3.3.1. Bargaining Power of Consumers
- 3.3.2. Bargaining Power of Suppliers
- 3.3.3. Threat of New Entrants
- 3.3.4. Threat of Substitutes
- 3.3.5. Competitive Rivalry in the Market
- 3.4. Market Dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Technology Landscape
- 3.6. Regulatory Landscape
- 3.7. Patent Landscape
- 3.8. Market Value Chain Analysis
- 3.9. Strategic Overview
- 4. Global Elevators and Escalators Market, By Type
- 4.1. Escalator
- 4.1.1. Escalator Market and Forecast, By Region, 2025-2033
- 4.1.2. Comparative Market Share Analysis, 2021 & 2033
- 4.2. Elevators
- 4.2.1. Elevators Market and Forecast, By Region, 2025-2033
- 4.2.2. Comparative Market Share Analysis, 2021 & 2033
- 4.3. Moving Walkways
- 4.3.1. Moving Walkways Market and Forecast, By Region, 2025-2033
- 4.3.2. Comparative Market Share Analysis, 2021 & 2033
- 4.4. Others
- 4.4.1. Others Market and Forecast, By Region, 2025-2033
- 4.4.2. Comparative Market Share Analysis, 2021 & 2033
- 5. Global Elevators and Escalators Market, By Service
- 5.1. Modernization
- 5.1.1. Modernization Market and Forecast, By Region, 2025-2033
- 5.1.2. Comparative Market Share Analysis, 2021 & 2033
- 5.2. New Installation
- 5.2.1. New Installation Market and Forecast, By Region, 2025-2033
- 5.2.2. Comparative Market Share Analysis, 2021 & 2033
- 5.3. Maintenance and Repair
- 5.3.1. Maintenance and Repair Market and Forecast, By Region, 2025-2033
- 5.3.2. Comparative Market Share Analysis, 2021 & 2033
- 6. Global Elevators and Escalators Market, By End User
- 6.1. Residential
- 6.1.1. Residential Market and Forecast, By Region, 2025-2033
- 6.1.2. Comparative Market Share Analysis, 2021 & 2033
- 6.2. Commercial
- 6.2.1. Commercial Market and Forecast, By Region, 2025-2033
- 6.2.2. Comparative Market Share Analysis, 2021 & 2033
- 6.3. Institutional
- 6.3.1. Institutional Market and Forecast, By Region, 2025-2033
- 6.3.2. Comparative Market Share Analysis, 2021 & 2033
- 6.4. Others
- 6.4.1. Others Market and Forecast, By Region, 2025-2033
- 6.4.2. Comparative Market Share Analysis, 2021 & 2033
- 7. Global Elevators and Escalators Market, By Region
- 7.1. North America
- 7.1.1. North America Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.1.2. North America Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.1.3. North America Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.1.4. Comparative Market Share Analysis, 2021 & 2033
- 7.1.5. U.S.
- 7.1.5.1. U.S. Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.1.5.2. U.S. Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.1.5.3. U.S. Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.1.5.4. Comparative Market Share Analysis, 2021 & 2033
- 7.1.6. Canada
- 7.1.6.1. Canada Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.1.6.2. Canada Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.1.6.3. Canada Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.1.6.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2. Europe
- 7.2.1. Europe Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.2. Europe Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.3. Europe Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2.5. Germany
- 7.2.5.1. Germany Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.5.2. Germany Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.5.3. Germany Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.5.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2.6. UK
- 7.2.6.1. UK Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.6.2. UK Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.6.3. UK Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.6.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2.7. France
- 7.2.7.1. France Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.7.2. France Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.7.3. France Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.7.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2.8. Spain
- 7.2.8.1. Spain Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.8.2. Spain Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.8.3. Spain Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.8.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2.9. Italy
- 7.2.9.1. Italy Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.9.2. Italy Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.9.3. Italy Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.9.4. Comparative Market Share Analysis, 2021 & 2033
- 7.2.10. Rest of Europe
- 7.2.10.1. Rest of Europe Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.2.10.2. Rest of Europe Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.2.10.3. Rest of Europe Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.2.10.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3. Asia Pacific
- 7.3.1. Asia Pacific Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.2. Asia Pacific Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.3. Asia Pacific Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3.5. China
- 7.3.5.1. China Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.5.2. China Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.5.3. China Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.5.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3.6. India
- 7.3.6.1. India Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.6.2. India Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.6.3. India Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.6.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3.7. Japan
- 7.3.7.1. Japan Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.7.2. Japan Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.7.3. Japan Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.7.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3.8. South Korea
- 7.3.8.1. South Korea Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.8.2. South Korea Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.8.3. South Korea Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.8.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3.9. Australia
- 7.3.9.1. Australia Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.9.2. Australia Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.9.3. Australia Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.9.4. Comparative Market Share Analysis, 2021 & 2033
- 7.3.10. Rest of Asia Pacific
- 7.3.10.1. Rest of Asia Pacific Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.3.10.2. Rest of Asia Pacific Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.3.10.3. Rest of Asia Pacific Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.3.10.4. Comparative Market Share Analysis, 2021 & 2033
- 7.4. LAMEA
- 7.4.1. LAMEA Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.4.2. LAMEA Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.4.3. LAMEA Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.4.4. Comparative Market Share Analysis, 2021 & 2033
- 7.4.5. Latin America
- 7.4.5.1. Latin America Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.4.5.2. Latin America Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.4.5.3. Latin America Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.4.5.4. Comparative Market Share Analysis, 2021 & 2033
- 7.4.6. Middle East
- 7.4.6.1. Middle East Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.4.6.2. Middle East Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.4.6.3. Middle East Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.4.6.4. Comparative Market Share Analysis, 2021 & 2033
- 7.4.7. Africa
- 7.4.7.1. Africa Elevators and Escalators Market and Forecast, By Type, 2025-2033
- 7.4.7.2. Africa Elevators and Escalators Market and Forecast, By Service, 2025-2033
- 7.4.7.3. Africa Elevators and Escalators Market and Forecast, By End User, 2025-2033
- 7.4.7.4. Comparative Market Share Analysis, 2021 & 2033
- 8. Company Profiles
- 8.1. Mitsubishi Electric Corporation
- 8.1.1. Business Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Type Portfolio
- 8.1.4. Recent Strategic Moves & Applications
- 8.1.5. SWOT Analysis
- 8.2. Toshiba Corporation
- 8.2.1. Business Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Type Portfolio
- 8.2.4. Recent Strategic Moves & Applications
- 8.2.5. SWOT Analysis
- 8.3. Schindler Group
- 8.3.1. Business Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Type Portfolio
- 8.3.4. Recent Strategic Moves & Applications
- 8.3.5. SWOT Analysis
- 8.4. Thyssenkrupp AG
- 8.4.1. Business Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Type Portfolio
- 8.4.4. Recent Strategic Moves & Applications
- 8.4.5. SWOT Analysis
- 8.5. Hyundai Elevator Co., Ltd
- 8.5.1. Business Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Type Portfolio
- 8.5.4. Recent Strategic Moves & Applications
- 8.5.5. SWOT Analysis
- 8.6. Fujitec Co., Ltd
- 8.6.1. Business Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Type Portfolio
- 8.6.4. Recent Strategic Moves & Applications
- 8.6.5. SWOT Analysis
- 8.7. KONE Elevator India Private Limited
- 8.7.1. Business Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Type Portfolio
- 8.7.4. Recent Strategic Moves & Applications
- 8.7.5. SWOT Analysis
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