Category

Elevators And Escalators Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Technology (Hydraulic, Traction, Machine-Room-Less), By End User (Residential Sector, Commercial Sector, Industrial Sector) And Geography - Forecasts From 2019 To 2024

Published: May 2021 | Report Code:  KSI061611995 | Pages:  126

The elevators and escalators market is evaluated at US$75.526 billion in 2018 and is expected to grow at a CAGR of 2.76% to reach US$88.923 billion in 2024. Elevators and Escalators provide speedy process and continence traveling around the building which is considered one of the reasons for their high adoption around the globe.

Rapid urbanization and increasing investment in the construction sector are other key factors augmenting the growth of the market. Rapid growing geriatric population and technological advancement in smart elevators and escalators will also fuel up the market growth. However, high installation and maintenance cost remains a key challenge.

DRIVERS

Growing geriatric population

Increasing investment in the construction sector

RESTRAINTS

High installation and maintenance cost

INDUSTRY UPDATE

In May 2019, Telefónica and Schindler entered into a global partnership for digital connectivity. Under the agreement, Telefónica will provide IoT and network connectivity solutions to Schindler for smart elevators and escalators.

In March 2019, Mitsubishi Electric Corporation announced to launch Nexiez-Lite MRL in India.

Major industry players profiled as part of the report are Schindler Holding Ltd., Kone Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, and United Technologies among others.

Elevators And Escalators Market Scope:

Report Metric Details
 Market size value in 2018  US$75.526 billion
 Market size value in 2024  US$88.923 billion
 Growth Rate  CAGR of 2.76% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments covered  Technology, End User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Schindler Holding Ltd., Kone Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., United Technologies, Kleemann Hellas SA., Fujitec Co., Ltd., Hyundai Elevator, ThyssenKrupp Elevator Technology
 Customization scope  Free report customization with purchase

Segmentation

The elevators and escalators market has been analyzed through the following segments:

By Technology

Hydraulic

Traction

Machine-Room-Less

By End User

Residential Sector

Commercial Sector

Industrial Sector

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Australia

Others

 


Frequently Asked Questions (FAQs)

Q1. What will be the elevators and escalators market size by 2024?

A1. The global elevators and escalators market is expected to reach a total market size of US$88.923 billion in 2024.

Q2. What is the size of global elevators and escalators market?

A2. Elevators and Escalators market is evaluated at US$75.526 billion in 2018.

Q3. What are the growth prospects for elevators and escalators market?

A3. The elevators and escalators market is expected to grow at a CAGR of 2.76% during the forecast period.

Q4. What factors are anticipated to drive the elevators and escalators market growth?

A4. Rapid urbanization and increasing investment in the construction sector are other key factors augmenting the growth of the elevators and escalators market.

Q5. Who are the major players in the elevators and escalators market?

A5. Major industry players profiled as part of the elevators and escalators market report are Schindler Holding Ltd., Kone Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, and United Technologies among others.

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