Global Elevator and Escalator Market Overview:
According to SPER Market Research, the Global Elevator and Escalator Market is estimated to reach USD 19.65 billion by 2032 with a CAGR of 4.76%.
Due to escalating industrialisation and a considerable rise in the older population, it is projected that the worldwide escalator industry would grow quickly in the years to come. Escalator manufacturing is one of the sectors that has reaped the benefits of emerging technology. The market is anticipated to be driven by constantly expanding architectural and building activity. In a wide range of verticals, such as residential, industrial, and commercial structures, escalators are frequently utilised. Residential complexes, train stations, metro stations, hospitals, business buildings, malls, and educational institutions are among the places where they are frequently put. Escalator installation in high-rise and mid-rise buildings is now essential for the growth of the construction industry.
Impact of COVID-19 on the Global Elevator and Escalator Market
An unusual and challenging global health disaster was caused by the corona virus pandemic. Most of the major economies enforced a severe and sudden countrywide lockdown to stop all financial activity in the area as a safety precaution. In the labor-intensive and extremely unstable construction industry, the abrupt closure had a significant negative impact. This aspect also decreased the amount of new building and modernization work done, which hindered worldwide market growth and sales. The market expansion was hindered by the decreased cash liquidity, uncertainties surrounding governmental investments, and gloomy attitudes of existing potential investors.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Industry Vertical, By Type, By Service, By End User |
| Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Electra Ltd., FUJITA, Fujitec Co. Ltd., Hitachi Ltd., Hyundai Elevator Co. Ltd., KONE Corporation, Mitsubishi Electric Corporation, Omega Elevators, OTIS Worldwide Corporation, Schindler, ThyssenKrupp AG, TK Elevator, Toshiba Corporation, United Technologies.
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Global Elevator and Escalator Market Segmentation:
By Industry Vertical: Based on the Industry Vertical, Global Escalator Market is segmented as; Commercial, Public Transit, Others.
By Type: Based on the Type, Global Escalator Market is segmented as; Multi-Parallel, Parallel, Walkway, Others.
By Service: Based on the Service, Global Escalator Market is segmented as; Maintenance & Repair, Modernization, New Installation.
By End User: Based on the End User, Global Escalator Market is segmented as; Commercial (Hospitality, Mixed Block, Offices, Others), Residential.
By Region: The escalators market is likely to be dominated by Asia-Pacific, which is predicted to account for a greater market share. Given that rising nations like China and India are expected to become emerging markets, the area presents tremendous development prospects as the fastest-growing market. The development of the residential, commercial, institutional, and infrastructural industries, among other things, are driving the rise of the elevators and escalators market in this area. Other elements that contribute to the expansion of this region include the rising population and economic development.
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Escalator Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global Escalator Market, By Industry Vertical, 2019-2032 (USD Million)
6.1. Commercial
6.2. Public Transit
6.3. Others
7. Global Escalator Market, By Type, 2019-2032 (USD Million)
7.1. Multi-Parallel
7.2. Parallel
7.3. Walkway
7.4. Others
8. Global Escalator Market, By Service, 2019-2032 (USD Million)
8.1. Maintenance & Repair
8.2. Modernization
8.3. New Installation
9. Global Escalator Market, By End Use, 2019-2032 (USD Million)
9.1 Commercial
9.1.1 Hospitality
9.1.2 Mixed Block
9.1.3 Offices
9.1.4 Others
9.2 Residential
10. Global Escalator Market, By Region, 2019-2032 (USD Million)
10.1 North America
10.1.1 United States
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 Germany
10.2.2 United Kingdom
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Rest of South America
10.5 Middle East & Africa
10.5.1 Kingdom of Saudi Arabia
10.5.2 United Arab Emirates
10.5.3 Rest of Middle East & Africa
11. Company Profiles
11.1 Electra Ltd.
11.1.1 Company details
11.1.2 Financial outlook
11.1.3 Product summary
11.1.4 Recent developments
11.2 FUJITA
11.2.1 Company details
11.2.2 Financial outlook
11.2.3 Product summary
11.2.4 Recent developments
11.3 Fujitec Co. Ltd.
11.3.1 Company details
11.3.2 Financial outlook
11.3.3 Product summary
11.3.4 Recent developments
11.4 Hitachi Ltd.
11.4.1 Company details
11.4.2 Financial outlook
11.4.3 Product summary
11.4.4 Recent developments
11.5 Hyundai Elevator Co. Ltd.
11.5.1 Company details
11.5.2 Financial outlook
11.5.3 Product summary
11.5.4 Recent developments
11.6 KONE Corporation
11.6.1 Company details
11.6.2 Financial outlook
11.6.3 Product summary
11.6.4 Recent developments
11.7 Mitsubishi Electric Corporation
11.7.1 Company details
11.7.2 Financial outlook
11.7.3 Product summary
11.7.4 Recent developments
11.8 Omega Elevators
11.8.1 Company details
11.8.2 Financial outlook
11.8.3 Product summary
11.8.4 Recent developments
11.9 OTIS Worldwide Corporation
11.9.1 Company details
11.9.2 Financial outlook
11.9.3 Product summary
11.9.4 Recent developments
11.10 Schindler
11.10.1 Company details
11.10.2 Financial outlook
11.10.3 Product summary
11.10.4 Recent developments
11.11 ThyssenKrupp AG
11.11.1 Company details
11.11.2 Financial outlook
11.11.3 Product summary
11.11.4 Recent developments
11.12 TK Elevator
11.12.1 Company details
11.12.2 Financial outlook
11.12.3 Product summary
11.12.4 Recent developments
11.13 Toshiba Corporation
11.13.1 Company details
11.13.2 Financial outlook
11.13.3 Product summary
11.13.4 Recent developments
11.14 United Technologies
11.14.1 Company details
11.14.2 Financial outlook
11.14.3 Product summary
11.14.4 Recent developments
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
