Escalators Market Size Expansion by Top Players Profile Overview By 2022 | Cisco, Fujitec Elevator, Hitachi, Hyundai Elevator, Mitsubishi Electric, Thyssenkrupp

Global Escalators Market is likely to generate revenue of USD 5146 million by 2022 & growing at a CAGR of 5.3% from 2016 to 2022. Parallel escalators segment generated the largest market share in 2015 while the others segment is expected to register highest growth rate during the forecast period. Asia-Pacific is expected to be the largest market during the forecast period.

Development in real estate sector, rise in need for efficient and rapid transit system, and rapid urbanization are expected to drive the growth of global escalator market. In addition, emergence of green escalators, and technological advancements have increased significantly and are expected to provide lucrative opportunity for market growth. However, lack of skilled workforce, safety issues due to poorly maintained equipment, and stringent government regulations limit the growth of this market. Technological progression to develop stronger escalators capable of carrying heavier loads is likely to remain a key trend in the global escalators market over the forecast period.

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In 2015, parallel escalators accounted for the maximum revenue shares in the overall escalators market due to their affordability, and easy availability. In addition, other escalators such as crisscross and spiral escalators is expected to witness the fastest growth at CAGR of 5.8% during the forecast period.

The commercial sector dominated the global market in 2015 due to high durability and ability to handle high passenger inflow. Furthermore, other industry segment is anticipated to grow at a CAGR of 6.2% during the forecast period due to ease in commuting over short distances and use of advanced safety features.

Asia-Pacific is estimated to grow fastest due to increase in the adoption of escalators and extensive growth in China, Japan, Australia, and India.

Key findings of the study:

o Crisscross and spiral type is expected to exhibit a significant growth in the escalators market.
o Commercial sector generated the highest revenue among other industry verticals pertaining to increase in adoption of escalators.
o Asia-Pacific is projected to exhibit a substantial growth during the forecast period.
The key players include Cisco, Fujitec Elevator, Hitachi, Hyundai Elevator Company, Mitsubishi Electric, Schindler Elevator Corporation (U.S.), Thyssenkrupp, Toshiba.

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Drivers & Restraints: Escalators Market
Rapid urbanization

Increase in the number of people migrating from rural to urban areas has fueled the demand for multi-storied buildings and escalators in the public transportation sector. Furthermore, growth in disposable income, and aging population in the urban areas has driven the markets in China and India.

Safety issues due to poorly maintained equipment
Escalators are prone to safety issues as compared to elevators. In addition, poorly maintained escalators add up to these issues. There have been several cases and accidents over the past few years. This has given rise to fear among people, which has restrained the market growth.

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