Elevators and Escalators Market Historical Growth Analysis, Upcoming Trends, Competitive landscape, Demand and Forecast to 2028

According to our latest market study on "Elevators and Escalators Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Elevators, Escalators, Moving Walkways); End User (Commercial, Residential) and Geography"

The demand for escalators and elevators is increasing with the development of smart cities in emerging economies. Expanding commercial and residential projects are further contributing to the market growth. Escalators and lifts ease the movement of people and goods in buildings as well as industries. Therefore, increasing industrialization in emerging economies offers lucrative growth opportunities for market growth. In developed countries, high growth in demand is attributed to technological advancements coupled with growing renovation activities.

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Companies Profiled in this report includes: Electra Ltd, Fujitec Co., Ltd., Hitachi, Ltd., Hyundai Elevator Co Ltd, Kone Oyj, Mitsubishi Electric Corporation, Otis Elevator Company (United Technologies Corporation), Schindler Holding Ltd., ThyssenKrupp AG, Toshiba Corp

MARKET DYNAMICS

The elevators and escalators market is anticipated to witness symbolic growth on account of rapid urbanization and modernization in the living standards. Improvement in the construction sector is yet another factor propelling market growth. However, high maintenance costs may negatively influence the growth of the elevators and escalators market during the forecast period. On the other hand, innovative technologies and the adoption of green building codes would create lucrative opportunities for the elevators and escalators market in the future.

MARKET SEGMENTATION

The global elevators and escalators market is segmented on the basis of type and end user. Based on type, the market is segmented as elevators, escalators, and moving walkways. The market on the basis of the end user is classified as commercial and residential.

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REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global elevators and escalators market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The elevators and escalators market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting elevators and escalators market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the elevators and escalators market in these regions.

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