Press release
Escalators and Moving Walkways Market Size, Regional Dynamics And Growth Insights 2024-2033
Escalators and Moving Walkways Market
The Business Research Company presents an extensive market research report on the "Escalators and Moving Walkways Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Escalators and Moving Walkways industry. This report on Escalators and Moving Walkways market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The escalators and moving walkways market size has grown strongly in recent years. It will grow from $17.58 billion in 2023 to $18.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to urbanization and population density in urban centers, growth in commercial and public infrastructure projects, expansion of airports, malls, and transportation hubs, focus on enhancing passenger convenience and mobility, increased focus on safety and accessibility standards.The escalators and moving walkways market size is expected to see strong growth in the next few years. It will grow to $23.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
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Key Market Players:
Kone Oyj, Schindler Group, Mitsubishi Electric Corporation, Fujitec Co. Ltd., ThyssenKrupp AG
Market Drivers:
According to the Escalators and Moving Walkways Market Report 2024 by The Business Research Company, The flourishing commercial real estate market worldwide will propel the growth of the escalators and moving walkways market going forward. Commercial real estate refers to the construction of commercial activities, including companies and large residential properties. Escalators and moving walkways are used in commercial buildings to carry people and goods from one floor to the other. For instance, according to CBRE Group, Inc., a US-based commercial real estate services and investment company, in 2021, a record amount of USD 1.3 trillion was invested in commercial real estate globally, an increase of 55% from 2020. Also in America, the annual investment volume increased by 83% to over USD 775 billion in 2021. Therefore, flourishing commercial real estate worldwide with increasing investments in commercial real estate is driving the growth of the escalator and moving walkway markets.
More information about the Global Escalators and Moving Walkways Market Report -
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Market segments for Escalators and Moving Walkways include:
1) By Product: Escalators, Moving Walkways
2) By Application: Public Transit, Airport, Retail, Institutional, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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