Elevator & Escalator Market

Global Elevator & Escalator Market Size, Trends & Analysis - Forecasts to 2027 By Product (Elevator, Escalator, Moving Walkways), By Service Type (New Installation, Maintenance & Repair, Modernization), By Elevator Technology (Traction Elevator, Machine Room Less Traction Elevator, Hydraulic), By End User (Residential, Commercial, Institutional, Infrastructure), By region (North America, Asia Pacific and Europe). Competitive Landscape Company Market Share Analysis, and Competitor Analysis.

Category Automotive & Transportation

Format

This report was recently updated on April 12 2024 with the latest and most recent market numbers

Global Elevator & Escalator Market Size

The Global Elevator & Escalator Market is expected to grow at a CAGR value of 6.3% from 2022 to 2027.

There has been an increase in migration and expansion from rural areas to older cities and this has led to an urgent need for infrastructure development, including the construction of high-rise buildings and infrastructure followed by the need to address the living needs of emerging people.

The UN Department of Economic and Social Affairs estimates that by the end of 2030, or by the end of the forecast period in 2027, 60% of the world's population would likely reside in urban areas. The growing urban population is increasing the demand for urban residences and high-rise buildings. Growing demand for green and energy efficient solutions for buildings is expected to result in the rapid development of the elevator and escalator market.

The Leadership and Environmental Design (LEED) grading system was created by the US Green Buildings Council to lessen the environmental impact of buildings and advance the idea of sustainable buildings. The European Green Building Council released new rules and EU policy directives for decreasing carbon emissions in the building industry, demonstrating a similar trend there.

The development of smart elevators is aimed at reducing the carbon footprint of elevators and escalators through the reduction of energy consumption. Smart elevator manufacturers produce elevators for medium and high-energy buildings that include smart controls, hardware, and other low-power systems that are driving the growth and demand for elevators.

global elevator & escalator market

COVID-19 Impact on Global Elevator & Escalator Market

Due to the outbreak of the COVID-19 epidemic, countries have had to force a ban on the construction of new buildings and homes. Therefore, the need for elevators and escalators has decreased. Buildings and other commercial sites were the main buyers of these programs. The elevator market and the escalator saw a decline in production as there were not enough jobs to continue the production process. Disruption of construction activities stemming from countrywide lockdowns has had a severe impact on the demand for elevators. The sales process could not be completed as there was a shortage of service personnel to install the system. Disruption of the distribution channel was a significant factor as sufficient resources could not reach the industries to produce; delivery of finished products to dedicated stores was not possible. Buyers did not have the option to visit specialty stores, and online shopping could not support the installation service. Therefore, the growth of the elevator market during the forecast period is expected to drive less and the growth opportunities of the market insights will affect.

Ukraine-Russia War Impact on the Construction Industry

Construction projects in the construction industry are expected to suffer from rising production costs, delays, and unemployment, while companies that have not yet recovered from their previous fuel crisis are in dire positions. As a result of Russia's actions, disruption of the supply chain and redistribution of certain types of building materials will dampen the growth of the construction industry.

Global Elevator & Escalator Market: By Product Type

Part of the elevator production dominated the market in 2021 and had the largest share of more than 42.00% of global revenue. The high-performance characteristics of these products have resulted in their growing penetration into the construction industry. The escalator segment is calculated as the second largest component of revenue by 2021 and is expected to grow at a significant CAGR during the forecast period.

Global Elevator & Escalator Market: By Service Type

Based on the type of service, the elevator & escalator market is divided into new installation, maintenance & repair, and modernization. The new installation component is expected to be the largest segment in the market at the time of forecasting, in terms of volume and volume. The ability of elevators & escalators to control and reduce noise transmission is a major factor in the growth of this component

Global Elevator & Escalator Market: By Elevator Technology Type

The machine-room-less traction elevator segment accounted for the largest share in the elevators and escalators market, based on the different elevator technology types available in the market. The size of the electric motors utilized within the towers has been drastically reduced because of this technology. Permanent magnetic motor (PMM) motors are being increasingly employed in elevators. Additionally, they do away with the expense and environmental issues that are frequently connected to the use of concealed water cylinders that utilize hydraulic oil. Non-mechanical elevators also use a non-gear-pull suction machine.

Global Elevator & Escalator Market: By End User Type

The residential segment led the market in terms of value and volume. The global housing market is driven by strong resilience to emerging economic living standards. Developing economies, such as India, China, and the Middle East & North Africa, are seeing an unprecedented rise in urban growth as the number of people in these countries move to the cities for employment. As a result, the construction of high-rise buildings — almost always equipped with smart elevators — has become increasingly needed in urban sprawl.

asia pacific elevator & escalator market

Global Elevator & Escalator Market: By Region

The market in North America led the market in 2021 and accounted for the largest revenue share This is due to the presence of countries like Mexico, Canada, and the US. These countries are expected to have high rates of urbanization and thus create a great need for the region. The rise in the number of key players is another factor driving the market demand.

The U.S. accounted for the major revenue share in the global market in 2021 owing to by combining the strategies and acquisitions of large domestic firms, a number of established global market players aim to increase their performance and improve the base of loyal customers in the region.

Moreover, The APAC region is expected to lead the market for elevators and escalators, in terms of price and volume from 2021 to 2027. The rising demand from China and India is expected to be responsible for driving the Asia Pacific market during the forecast period. The market is influenced by a number of variables, including simple access to resources, affordable labor prices, and robust regulatory environments in these emerging nations.

Between 2022 and 2027, China is anticipated to have the fastest growth rate in the Asia Pacific area. The number of elevators and stairs in the region's residential, commercial, and infrastructural sectors is predicted to increase, which will benefit the elevator and escalator market in APAC. Industrial development, middle-class population growth, rising revenue, and changing lifestyles are expected to further boost the need for elevators and escalators during forecasting.

Global Elevator & Escalator Market Share and Competitor Analysis

Some of the key players in the global elevator & escalator market are Schindler Group, Otis Elevator, Thyssenkrupp AG, KONE Corporation, United Technologies, Hyundai Elevator Co. Ltd., Mitsubishi Electric Corporation, Johnson Elevator Co. Ltd., Fujitec Co. Ltd., Toshiba Corporation, and Hitachi Ltd., among other key players.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Research Methodology

1.1 Research Assumptions

1.2 Research Methodology

1.2.1 Estimates and Forecast Timeline

1.3 Information Procurement

1.3.1 Purchased Database

1.3.2 GME’s Internal Database

1.3.3 Primary Research

1.3.4 Secondary Sources & Third-Party Perspectives

1.3.4.1 Company Information Sources: Annual Reports, Investor Presentation, Press Release, SEC Filing, Company Blogs & Website

1.3.4.2 Secondary Data Sources

1.4 Information or Data Analysis

1.4.1 Data Analysis Models

1.5 Market Elevator Technology & Data Visualization

1.6 Data Validation & Publishing

1.7 Market Model

1.7.1 Model Details

1.7.1.1 Top-Down Approach

1.7.1.2 Bottom-Up Approach

1.8 Market Segmentation & Scope

1.9 Market Definition

Chapter 2 Executive Summary

2.1. Global Market Outlook

2.2 Product Outlook

2.3 Service Type Outlook

2.4 Elevator Technology Outlook

2.5 End-User Outlook

2.6 Regional Outlook

Chapter 3 Global Elevator & Escalator Market Trend Analysis

3.1. Market Introduction

3.2 Penetration & Growth Prospect Mapping

3.3 Impact of COVID-19 on the Elevator & Escalator Market

3.4 Metric Data on Shipping & Logistics Industry

3.5 Market Dynamic

3.5.1 Market Driver Analysis

3.5.2 Market Restraint Analysis

3.5.3 Industry Challenges

3.5.4 Industry Opportunities

3.6 Porter’s Five Analysis

3.6.1 Supplier Power

3.6.2 Buyer Power

3.6.3 Substitution Threat

3.6.4 Threat from New Entrant

3.7 Market Entry Strategies

Chapter 4 Elevator & Escalator Market: Product Trend Analysis

4.1 Product: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

4.2 Elevator

4.2.1 Market Estimates & Forecast Analysis of Elevator Segment, By Region, 2019-2027 (USD Billion)

4.3 Escalator

4.3.1 Market Estimates & Forecast Analysis of Escalator Markets Segment, By Region, 2019-2027 (USD Billion)

4.4 Moving Walkways

4.4.1 Market Estimates & Forecast Analysis of Moving Walkways Markets Segment, By Region, 2019-2027 (USD Billion)

Chapter 5 Elevator & Escalator Market: Service Type Trend Analysis

5.1 Service Type: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

5.2 New Installation

5.2.1 Market Estimates & Forecast Analysis of New Installation Segment, By Region, 2019-2027 (USD Billion)

5.3 Maintenance & Repair

5.3.1 Market Estimates & Forecast Analysis of Maintenance & Repair Segment, By Region, 2019-2027 (USD Billion)

5.4 Modernization

5.4.1 Market Estimates & Forecast Analysis of Modernization Segment, By Region, 2019-2027 (USD Billion)

Chapter 6 Elevator & Escalator Market: Elevator Technology Trend Analysis

6.1 Elevator Technology: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

6.2 Traction Elevator

6.2.1 Market Estimates & Forecast Analysis of Traction Elevator Segment, By Region, 2019-2027 (USD Billion)

6.3 Machine Room Less Traction Elevator

6.3.1 Market Estimates & Forecast Analysis of Machine Room Less Traction Elevator Segment, By Region, 2019-2027 (USD Billion)

6.4 Hydraulic

6.4.1 Market Estimates & Forecast Analysis of Hydraulic Segment, By Region, 2019-2027 (USD Billion)

Chapter 7 Elevator & Escalator Market: End-User Trend Analysis

7.1 End-User: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

7.2 Residential

7.2.1 Market Estimates & Forecast Analysis of Residential Segment, By Region, 2019-2027 (USD Billion)

7.3 Commercial

7.3.1 Market Estimates & Forecast Analysis of Commercial Segment, By Region, 2019-2027 (USD Billion)

7.4 Institutional

7.4.1 Market Estimates & Forecast Analysis of Institutional Segment, By Region, 2019-2027 (USD Billion)

7.5 Infrastructure

7.5.1 Market Estimates & Forecast Analysis of Infrastructure Segment, By Region, 2019-2027 (USD Billion)

Chapter 8 Elevator & Escalator Market, By Region

8.1 Regional Outlook

8.2 North America

8.2.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.2.2 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.2.3 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.2.4 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.2.5 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.2.6 U.S.

8.2.6.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.2.6.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.2.6.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.2.6.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.2.7 Canada

8.2.7.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.2.7.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.2.7.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.2.7.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.2.8 Mexico

8.2.8.1 Market Estimates & Forecast Analysis, By Product, 2019-2027 (USD Billion)

8.2.8.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027 (USD Billion)

8.2.8.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027 (USD Billion)

8.2.8.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3 Europe

8.3.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.3.2 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.3 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.4 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.5 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.6 Germany

8.3.6.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.6.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.6.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.6.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.7 UK

8.3.7.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.7.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.7.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.7.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.8 France

8.3.8.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.8.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.8.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.8.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.9.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.9.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.9.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.10 Italy

8.3.10.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.10.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.10.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.10.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.11 Spain

8.3.11.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.3.11.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.3.11.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.3.11.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.3.12 Rest of Europe

8.3.12.1 Market Estimates & Forecast Analysis, By Product, 2019-2027 (USD Billion)

8.3.12.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027 (USD Billion)

8.3.12.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027 (USD Billion)

8.3.12.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.4.2 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.4.3 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.4.4 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.4.5 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4.6 China

8.4.6.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.4.6.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.4.6.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.4.6.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4.7 India

8.4.7.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.4.7.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.4.7.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.4.7.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4.8 Japan

8.4.8.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.4.8.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.4.8.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.4.8.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4.9 Australia

8.4.9.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.4.9.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.4.9.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.4.9.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4.10 South Korea

8.4.10.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.4.10.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.4.10.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.4.10.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.4.11 Rest of Asia Pacific

8.4.11.1 Market Estimates & Forecast Analysis, By Product, 2019-2027 (USD Billion)

8.4.11.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027 (USD Billion)

8.4.11.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027 (USD Billion)

8.4.11.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.5 Central & South America

8.5.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.5.2 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.5.3 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.5.4 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.5.5 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.5.6 Brazil

8.5.6.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.5.6.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.5.6.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.5.6.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.5.7 Rest of Central & South America

8.5.7.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.5.7.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.5.7.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.5.7.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.6 Middle East & Africa

8.6.1 Market Estimates & Forecast Analysis, By Country 2019-2027(USD Billion)

8.6.2 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.6.3 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.6.4 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.6.5 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.6.6 Saudi Arabia

8.6.6.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.6.6.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.6.6.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.6.6.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.6.7 United Arab Emirates

8.6.7.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.6.7.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.6.7.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.6.7.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.6.8 South Africa

8.6.8.1 Market Estimates & Forecast Analysis, By Product, 2019-2027(USD Billion)

8.6.8.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027(USD Billion)

8.6.8.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027(USD Billion)

8.6.8.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

8.6.9 Rest of Middle East & Africa

8.6.9.1 Market Estimates & Forecast Analysis, By Product, 2019-2027 (USD Billion)

8.6.9.2 Market Estimates & Forecast Analysis, By Service Type, 2019-2027 (USD Billion)

8.6.9.3 Market Estimates & Forecast Analysis, By Elevator Technology, 2019-2027 (USD Billion)

8.6.9.4 Market Estimates & Forecast Analysis, By End-User, 2019-2027(USD Billion)

Chapter 9 Competitive Analysis

9.1 Key Global Players, Recent Developments & their Impact on the Industry

9.2 Four Quadrant Competitor Positioning Matrix

9.2.1 Key Innovators

9.2.2 Market Leaders

9.2.3 Emerging Players

9.2.4 Market Challengers

9.3 Vendor Landscape Analysis

9.4 End-User Landscape Analysis

9.5 Company Market Share Analysis, 2021

Chapter 10 Company Profile Analysis

10.1 Schindler Group

10.1.1 Company Overview

10.1.2 Financial Analysis

10.1.3 Strategic Initiatives

10.1.4 Product Benchmarking

10.2 Otis Elevator

10.2.1 Company Overview

10.2.2 Financial Analysis

10.2.3 Strategic Initiatives

10.2.4 Product Benchmarking

10.3 Thyssenkrupp AG

10.3.1 Company Overview

10.3.2 Financial Analysis

10.3.3 Strategic Initiatives

10.3.4 Product Benchmarking

10.4 KONE Corporation

10.4.1 Company Overview

10.4.2 Financial Analysis

10.4.3 Strategic Initiatives

10.4.4 Product Benchmarking

10.5 United Technologies

10.5.1 Company Overview

10.5.2 Financial Analysis

10.5.3 Strategic Initiatives

10.5.4 Product Benchmarking

10.6 Hyundai Elevator Co. Ltd.

10.6.1 Company Overview

10.6.2 Financial Analysis

10.6.3 Strategic Initiatives

10.6.4 Product Benchmarking

10.7 Mitsubishi Electric Corporation

10.7.1 Company Overview

10.7.2 Financial Analysis

10.7.3 Strategic Initiatives

10.7.4 Product Benchmarking

10.8 Johnson Elevator Co. Ltd.

10.8.1 Company Overview

10.8.2 Financial Analysis

10.8.3 Strategic Initiatives

10.8.4 Product Benchmarking

10.9 Fujitec Co. Ltd.

10.9.1 Company Overview

10.9.2 Financial Analysis

10.9.3 Strategic Initiatives

10.9.4 Product Benchmarking

10.10 Toshiba Corporation

10.10.1 Company Overview

10.10.2 Financial Analysis

10.10.3 Strategic Initiatives

10.10.4 Product Benchmarking

10.11 Hitachi Ltd.

10.11.1 Company Overview

10.11.2 Financial Analysis

10.11.3 Strategic Initiatives

10.11.4 Product Benchmarking

10.12 Other Companies

10.12.1 Company Overview

10.12.2 Financial Analysis

10.12.3 Strategic Initiatives

10.12.4 Product Benchmarking

List of Tables

1 Technological Advancements In Elevator & Escalator Market

2 Global Elevator & Escalator Market: Key Market Drivers

3 Global Elevator & Escalator Market: Key Market Challenges

4 Global Elevator & Escalator Market: Key Market Opportunities

5 Global Elevator & Escalator Market: Key Market Restraints

6 Global Elevator & Escalator Market Estimates & Forecast Analysis, 2019-2027 (USD Billion)

7 Global Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

8 Elevator: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

9 Escalator: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

10 Moving Walkways: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

11 Global Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

12 New Installation: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

13 Maintenance & Repair: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

14 Modernization: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

15 Global Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

16 Traction Elevator: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

17 Machine Room Less Traction Elevator: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

18 Hydraulic: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

19 Global Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

20 Residential: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

21 Commercial: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

22 Institutional: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

23 Infrastructure: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

24 Regional Analysis: Global Elevator & Escalator Market, By Region, 2019-2027 (USD Billion)

25 North America: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

26 North America: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

27 North America: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

28 North America: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

29 North America: Elevator & Escalator Market, By Country, 2019-2027 (USD Billion)

30 U.S: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

31 U.S: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

32 U.S: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

33 U.S: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

34 Canada: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

35 Canada: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

36 Canada: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

37 Canada: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

38 Mexico: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

39 Mexico: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

40 Mexico: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

41 Mexico: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

42 Europe: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

43 Europe: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

44 Europe: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

45 Europe: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

46 Germany: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

47 Germany: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

48 Germany: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

49 Germany: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

50 UK: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

51 UK: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

52 UK: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

53 UK: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

54 France: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

55 France: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

56 France: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

57 France: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

58 Italy: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

59 Italy: Elevator & Escalator Market, By T Service Type Ype, 2019-2027 (USD Billion)

60 Italy: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

61 ltaly: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

62 Spain: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

63 Spain: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

64 Spain: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

65 Spain: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

66 Rest Of Europe: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

67 Rest Of Europe: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

68 Rest Of Europe: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

69 Rest of Europe: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

70 Asia Pacific: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

71 Asia Pacific: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

72 Asia Pacific: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

73 Asia Pacific: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

74 Asia Pacific: Elevator & Escalator Market, By Country, 2019-2027 (USD Billion)

75 China: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

76 China: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

77 China: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

78 China: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

79 India: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

80 India: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

81 India: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

82 India: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

83 Japan: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

84 Japan: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

85 Japan: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

86 Japan: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

87 South Korea: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

88 South Korea: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

89 South Korea: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

90 South Korea: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

91 Middle East & Africa: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

92 Middle East & Africa: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

93 Middle East & Africa: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

94 Middle East & Africa: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

95 Middle East & Africa: Elevator & Escalator Market, By Country, 2019-2027 (USD Billion)

96 Saudi Arabia: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

97 Saudi Arabia: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

98 Saudi Arabia: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

99 Saudi Arabia: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

100 UAE: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

101 UAE: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

102 UAE: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

103 UAE: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

104 Central & South America: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

105 Central & South America: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

106 Central & South America: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

107 Central & South America: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

108 Central & South America: Elevator & Escalator Market, By Country, 2019-2027 (USD Billion)

109 Brazil: Elevator & Escalator Market, By Product, 2019-2027 (USD Billion)

110 Brazil: Elevator & Escalator Market, By Service Type, 2019-2027 (USD Billion)

111 Brazil: Elevator & Escalator Market, By Elevator Technology, 2019-2027 (USD Billion)

112 Brazil: Elevator & Escalator Market, By End-User, 2019-2027 (USD Billion)

113 Schindler Group: Products Offered

114 Otis Elevator: Products Offered

115 Thyssenkrupp AG: Products Offered

116 KONE Corporation: Products Offered

117 United Technologies: Products Offered

118 Hyundai Elevator Co. Ltd.: Products Offered

119 Mitsubishi Electric Corporation: Products Offered

120 Johnson Elevator Co. Ltd.: Products Offered

121 Fujitec Co. Ltd.: Products Offered

122 Toshiba Corporation: Products Offered

123 Hitachi Ltd.: Products Offered

124 Other Companies: Products Offered

List of Figures

1. Global Elevator & Escalator Market Segmentation & Research Scope

2. Primary Research Partners and Local Informers

3. Primary Research Process

4. Primary Research Approaches

5. Primary Research Responses

6. Global Elevator & Escalator Market: Penetration & Growth Prospect Mapping

7. Global Elevator & Escalator Market: Value Chain Analysis

8. Global Elevator & Escalator Market Drivers

9. Global Elevator & Escalator Market Restraints

10. Global Elevator & Escalator Market Opportunities

11. Global Elevator & Escalator Market Challenges

12. Key Elevator & Escalator Market Manufacturer Analysis

13. Global Elevator & Escalator Market: Porter’s Five Forces Analysis

14. PESTLE Analysis & Impact Analysis

15. Schindler Group: Company Snapshot

16. Schindler Group: Swot Analysis

17. Otis Elevator: Company Snapshot

18. Otis Elevator: Swot Analysis

19. Thyssenkrupp AG: Company Snapshot

20. Thyssenkrupp AG: Swot Analysis

21. KONE Corporation: Company Snapshot

22. KONE Corporation: Swot Analysis

23. United Technologies: Company Snapshot

24. United Technologies: Swot Analysis

25. Hyundai Elevator Co. Ltd.: Company Snapshot

26. Hyundai Elevator Co. Ltd.: Swot Analysis

27. Mitsubishi Electric Corporation: Company Snapshot

28. Mitsubishi Electric Corporation: Swot Analysis

29. Johnson Elevator Co. Ltd.: Company Snapshot

30. Johnson Elevator Co. Ltd.: Swot Analysis

31. Fujitec Co. Ltd.: Company Snapshot

32. Fujitec Co. Ltd.: Swot Analysis

33. Toshiba Corporation: Company Snapshot

34. Toshiba Corporation: Swot Analysis

35. Hitachi Ltd.: Company Snapshot

36. Hitachi Ltd.: Swot Analysis

37. Other Companies: Company Snapshot

38. Other Companies: Swot Analysis

The Global Elevator & Escalator Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Elevator & Escalator Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global elevator & escalator market?

The global elevator & escalator market is expected to grow at a CAGR value of 6.3% from 2022 to 2027.

Who are the major vendors in the elevator & escalator market?

What is the Covid-19 impact on future elevator & escalator manufacturers?

Due to the outbreak of the COVID-19 epidemic, countries have had to force a ban on the construction of new buildings and homes. Therefore, the need for elevators and escalators has decreased. The elevator market and the escalator saw a decline in production as there were not enough jobs to continue the production process. Disruption of construction activities stemming from countrywide lockdowns has had a severe impact on the demand for elevators.

What are the major drivers in the elevator & escalator market?

The growing urban population, increasing demand for smart elevators, energy-efficient elevator solutions, and the growing demand for retrofitting construction services are the main drivers of the market.

What is the impact of the Ukraine-Russia war on the construction industry?

Construction projects in the construction industry are expected to suffer from rising production costs, delays, and unemployment, while companies that have not yet recovered from their previous fuel crisis are in dire positions. As a result of Russias actions, disruption of the supply chain and redistribution of certain types of building materials will dampen the growth of the construction industry.