Elevator and Escalator Market Research Report: Overview With Geographical Segmentation By Revenue With Forecast 2030

Elevator and Escalator Market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030. Expansion of the building and construction industry has been a chief driver of the global elevator and escalator market. Elevators and escalators being an integral part of the residential as well commercial buildings are witnessing impressive surge in demand all over the world.

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According to FMI, the elevator and escalator market is anticipated to witness growth of ~6.6% CAGR during the forecast period from the year 2020 to 2030.

Some of the key takeaways from the report are highlighted below-
• Product-wise, elevator is expected to lead the market followed by escalator during the forecast period
• Load type-wise, passenger segment will exhibit hegemony in the coming years
• New system installation type is set to gain traction in the global market
• Commercial end use segment is projected to exhibit highest growth followed by the residential segment throughout the forecast period
• New-age IoT technology will cater to the steady market growth in the near future
• East Asia elevator and escalator market will maintain the lead while emerging as the highest growing market among all other regions

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Competitive Analysis:
As the elevator and escalator market potential is rising steadily, the key market players are focusing on launching advanced designs to gain competitive edge. For instance, DOPPLER S.A. has launched their DOPPLER Lift Hygiene Solutions equipped with air sterilizer using UV photo catalyst sterilization and UV antibacterial light disinfection system in 2020.
Kone Corporation has launched Kone Health & Wellbeing Solutions for Elevators and Escalators which include escalator handrail sanitizer, elevator remote call using whatsapp, elevator air purifier, and others in June 2020.
Some of the leading companies operating in the market are DOPPLER S.A, Kone Corporation, Orona Group, EMAK Elevator, Sanyo Elevator (Zhuhai) Co., Ltd, and others.

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By Segment:
Product Type
• Elevator
o Hydraulic
o Traction
o Machine
o Room Less
• Vacuum
• Escalator
o Step Type
o Belt Type
o Cleat Type
o Spiral
Load Type
• Passenger
• Freight
• Observation
• Others
Installation
• New
o System
o Installation
• Retrofit
End Use
• Residential
o Low Rise Building
o Mid Rise Building
o High Rise Building
• Commercial
o Hotels
o Airports
o Subway Station
o Commercial
o Complex
o Office & Institution
• Hospital
• Infrastructure & Construction
• Transportation &Logistics
Region
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Middle East and Africa
• Japan

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

This release was published on openPR.