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Elevators and Escalators Market Overview, Industry Top Manufactures, Market Size,
Industry Growth Analysis & Forecast to 2023
Market research future published a half-cooked research report on Global Elevators and
Escalators Market that contains the information from 2017 to 2023. Global elevators and
escalators market is expected to grow with the CAGR of approximately 6.01% from 2017 to 2023.
Taste the market data and market information presented through more than 85 market data tables
and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content
TOC & market synopsis on “Global Elevators and Escalators Market Information from 2017 to
2023"
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Elevators and Escalators are the major parts of the day today life. Elevators carry people and goods
between different floors in any building and Escalator is a moving staircase, consisting of a
circulating belt of steps which are used as source of commute between floors in a public building.
Growing construction industry across the globe is major factor driving the growth of the market.
The increasing adoption of escalators and elevators in commercial as well other infrastructures is
also done to facilitate the elderly, suffering discomfort on account of long flights of stairs,
therefore, increasing aging population (above 60 years) is also fueling the growth of the market.
According to the U.S. Census Bureau, in 2015 geriatric population held around 8.5% share of the
total population. However, high maintenance costs of elevators and escalators may restrict the
growth of the market.
For the purpose of this study, the global elevators and escalators market has been divided into four
segments by type, service, elevator technology, and by end user. On the basis of type, elevators
accounts for the largest market share and are expected to remain dominant over the forecast period.
Based on service, new installation dominates the service segment of the market whereas
maintenance & repair services is expected to grow at the highest CAGR during the forecast period.
Hence, the global Elevators and Escalators market is expected to grow at a CAGR of 6.01% during
the forecast period.
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 KONE Corporation (Finland)
 Sigma Elevator Company (Korea)
 Otis Elevator Company (U.S.)
 United Technologies (U.S.)
 Schindler (Switzerland)
 Mitsubishi Electric Corporation (Japan)
 ThyssenKrupp AG (Germany)
 FUJITEC (Japan)
 Hitachi Ltd. (Japan)
 Hyundai Elevator Co., Ltd. (South Korea)
 Toshiba Elevator And Building Systems Corporation (Japan)
 Stein Ltd (Russia)
 PAPPAS Elevators (Russia)
 Gulf Elevator & Escalator Co. Ltd. (Saudi Arabia)
 Electra Ltd. (Israel)
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Asia Pacific region dominates the global elevators and escalators market
Geographically, the global Elevators and Escalators market has been divided into four major
regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region,
has accounted for the largest market share. Increasing industrialization and urbanization is the
major factor driving the growth of the market in the region. Key players across the globe are
gradually shifting their production facilities to cater to high potential markets in Asia Pacific
mainly due to the availability of low-cost labor and ample raw material stocks. This has the positive
influence on the growth of the market. Additionally, economic growth in the region has allowed
for a greater requirement of institutional and commercial infrastructure spaces. This fuels the
growth of the market. China, Japan, India, and Singapore are the major market in Asia Pacific
region.
The Middle East & Africa and South America are expected to show the significant growth during
the forecast period. Increasing the number of shopping malls & construction of tall building
fuelling the growth of the market. For example, in Saudi Arabia the ongoing construction of the
tallest building ever name as “Kingdom Tower” which required 65 units of elevators and
escalators. This will increase the demand of the market.
North America is another major market for the elevators and escalators. The U.S. is the major
contributor in global as well as North America elevators and escalators market. Strong
development in commercial and residential structures in the U.S., is anticipated to fuel the demand
for market in the region. Increasing repair and rehabilitation activities of existing infrastructure
create huge potential demand for market in coming years.
This research report provides insights, on various levels of analysis such as industry analysis, and
market share analysis for the leading players along with their profiles. It also helps in studying the
target segments by providing views on emerging & high-growth segments. The market data
comprises the basic assessment of the competitive scenarios & strategies in the global construction
lift market, including high-growth regions and/or countries, and political, & economic
environments. The project report, further, provides views on both the historical market values and
pricing & cost analysis.
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