Elevators & Escalators Market Size, Share, and Outlook, 2025 Report- By Type (Elevator, Escalator, Moving Walkways), By Service (New installation, Maintenance & repair, Modernization), By Elevator Technology (Traction elevator, Machine room less traction

Elevators and Escalators Market Outlook

Elevators & Escalators Market Size is forecast to reach $263.5 Billion in 2032 from $170.9 Billion in 2025, at an optimistic growth rate of 6.3% from 2025 to 2032.. The Elevators and Escalators market is a thriving business that is poised to keep growing and presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Elevators and Escalators segments across 22 countries from 2021 to 2032. Key segments in the report include By Type (Elevator, Escalator, Moving Walkways), By Service (New installation, Maintenance & repair, Modernization), By Elevator Technology (Traction elevator, Machine room less traction elevator, Hydraulic), By End-User (Residential, Commercial, Institutional, Infrastructure, Others). Over 70 tables and charts showcase findings from our latest survey report on Elevators and Escalators markets.

Elevators and Escalators Market Insights, 2025

The Elevators & Escalators market is growing due to rapid urbanization, increasing high-rise construction, and the modernization of aging infrastructure. Smart and energy-efficient elevator systems, featuring IoT-enabled predictive maintenance and AI-based traffic optimization, are transforming the market. The demand for high-speed elevators in mega-tall buildings and improved accessibility solutions for aging populations is driving innovation. Additionally, sustainability concerns are pushing manufacturers toward regenerative drive technology and eco-friendly materials. With major infrastructure investments in Asia-Pacific, the market is expected to expand significantly in the coming years.

Five Trends that will define global Elevators and Escalators market in 2025 and Beyond

A closer look at the multi-million global market for Elevators and Escalators identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Elevators and Escalators companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Elevators and Escalators industry?

The Elevators and Escalators sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2030. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Elevators and Escalators Market Segment Insights

The Elevators and Escalators industry presents strong offers across categories. The analytical report offers forecasts of Elevators and Escalators industry performance across segments and countries. Key segments in the industry include- By Type (Elevator, Escalator, Moving Walkways), By Service (New installation, Maintenance & repair, Modernization), By Elevator Technology (Traction elevator, Machine room less traction elevator, Hydraulic), By End-User (Residential, Commercial, Institutional, Infrastructure, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Elevators and Escalators market size outlook is provided for 22 countries across these regions.

Market Value Chain

The chapter identifies potential companies and their operations across the global Elevators and Escalators industry ecosystem. It assists decision-makers in evaluating global Elevators and Escalators market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Elevators and Escalators industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Elevators and Escalators Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Elevators and Escalators Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Elevators and Escalators with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Elevators and Escalators market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Elevators and Escalators market Insights- Executives are most excited about opportunities for the US Elevators and Escalators industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Elevators and Escalators companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Elevators and Escalators market.

Latin American Elevators and Escalators market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Elevators and Escalators Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Elevators and Escalators markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Elevators and Escalators markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Elevators and Escalators companies outcompete in 2025?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Fujitec Co. Ltd, Hitachi Ltd, Hyundai Elevator Co. Ltd, Kone Corp, Mitsubishi Electric Corp, Otis Worldwide Corp, Schindler Group, SJEC Corp, Tk Elevator, Toshiba Elevators and Building Systems Corp.

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
• Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
• Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
• Get an integrated understanding of the entire market ecosystem and companies.
• Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
• Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
• Get free Excel spreadsheet and PPT versions along with the report PDF.