Press release
Elevator and Escalator Market 2024-2032 | Size, Industry Growth, Top Companies Share, Forecast
IMARC Group's report titled "Elevator and Escalator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" offers a comprehensive analysis of the industry, which comprises insights on the global global elevator and escalator market share. The global market reached US$ 154.0 Billion in 2023. Looking forward, IMARC Group expects the elevator and escalator market to reach US$ 239.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.89% during 2024-2032.The rise in construction activities, growing investment in infrastructure development, particularly in developing countries, the increasing emphasis on energy-efficiency and sustainability, the adaptation of smart technology into elevators and escalators, and the growing geriatric population represent some of the factors that are propelling the market.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/elevator-escalator-market/requestsample
Factors Affecting the Growth of the Elevator and Escalator Industry:
• Thriving Construction Industry:
The growing demand for elevator and escalator systems on account of the thriving construction industry is offering a positive market outlook. In addition, there is a rise in the number of residential buildings, offices, complexes, airports, and shopping malls due to rapid urbanization across the globe. Apart from this, these systems provide enhanced convenience and mobility to people. Moreover, they assist in saving time by efficiently moving large number of people from one level of a building to another level, which is impelling the market growth.
• Technological Advancements:
Technological advancements in elevator and escalator systems, such as the integration of the Internet of Things (IoT) connectivity, to provide predictive maintenance solutions is bolstering the growth of the market. In addition, predictive maintenance technology monitors equipment health, minimizes downtime, and enhances the reliability of these systems. Besides this, energy-efficient features like regenerative drives and recover and reuse energy assist in reducing operating costs and environmental impact. These advancements enhance user experience, increase safety, and promote sustainability, making elevator and escalator systems essential in modern buildings and urban infrastructures.
• Rising Demand for Eco-Friendly Elevators and Escalators:
The rising demand for eco-friendly elevator and escalator systems to maintain environmental sustainability is strengthening the growth of the market. In line with this, eco-friendly models incorporate energy-efficient technologies, such as regenerative drives and light emitting diode (LED) lighting, to reduce power consumption. They can also minimize carbon emissions and lower operational costs for building owners. Additionally, the rising focus on green building practices and energy conservation is propelling the market growth. Furthermore, people are increasingly seeking environment-friendly solutions that align with modern sustainability standards.
Explore Full Report: https://www.imarcgroup.com/elevator-escalator-market
Leading Companies Operating in the Global Elevator and Escalator Industry:
• Canny Elevator Co. Ltd.
• Electra Elevators
• Fujitec Co. Ltd.
• Gulf Elevators & Escalators Co. Ltd.
• Hitachi Ltd.
• Hyundai Elevator Co. Ltd.
• Johnson Lifts Private Limited
• Kleemann Group
• KONE Corporation
• Mitsubishi Electric Corporation
• Otis Elevator Company (I). Ltd (Otis Worldwide Corporation)
• Schindler Holding Ltd.
• Sigma Elevator Company
• Toshiba Elevator and Building Systems Corporation (Toshiba Corporation)
Elevator and Escalator Market Report Segmentation:
By Type:
• Elevators
• Escalators
• Moving Walkways
Elevators represented the largest segment due to the rising number of high-end residential spaces.
By Service:
• New Installation
• Maintenance and Repair
• Modernization
New installation accounted for the majority of the market share as advanced elevator and escalator systems align with stringent safety regulations.
By End Use:
• Residential
• Commercial
• Offices
• Hospitality
• Mixed Block
• Others
Commercial holds the biggest market share due to the increasing number of office buildings, shopping malls, and airports.
Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
Asia Pacific enjoys a leading position in the elevator and escalator market on account of the rising demand for more advanced and comfortable elevator and escalator systems.
Global Elevator and Escalator Market Trends:
Key manufacturers are investing in research and development (R&D) activities to meet the safety requirements of people. The integration of features like redundant safety systems, emergency communication devices, and automatic rescue devices in elevator and escalator systems is impelling the market growth.
Regular maintenance is crucial to ensure the safety and reliability of these systems. Additionally, upgrading older systems with energy-efficient technology and improved safety features is a cost-effective solution. Furthermore, the rising focus on updating new elevator and escalator systems with advanced systems is propelling the market growth.
Other Key Points Covered in the Report:
• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Elevator and Escalator Market 2024-2032 | Size, Industry Growth, Top Companies Share, Forecast here
News-ID: 3353201 • Views: …
More Releases from IMARC Group

India Seafood Market Outlook 2025-2033: Key Trends, Size, Share and Growth Insig …
As indicated in the latest market research report published by IMARC Group, titled "India Seafood Market Report by Type (Fish, Shrimps, Others), Form (Fresh/Chilled, Frozen/Canned, Processed), Distribution Channel (Off Trade, On Trade), and Region 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.
Market Size & Future Growth Potential:
The India seafood…

India Mutual Funds Market: Size, Share, Trends, Growth and Industry Outlook 2025 …
Mutual Funds Market in India 2025:
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 2.50 Billion
Market Size in 2033: USD 5.90 Billion
Market Growth Rate (CAGR) 2025-2033: 10.03%
How Big is the India Mutual Funds Industry?
The India mutual funds market size reached USD 2.50 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.90 Billion by 2033, exhibiting a growth rate (CAGR) of 10.03% during 2025-2033.
Request…

Dimethyl Ether Market Valuation to Reach USD 15.73 Billion by 2033 - Industry Ex …
Market Overview:
The dimethyl ether market is experiencing significant growth momentum, driven by increasing demand for cleaner fuel alternatives, expanding applications in various industries, and supportive government policies promoting sustainable energy solutions. According to IMARC Group's latest research publication, "Dimethyl Ether Market Size, Share, Trends and Forecast by Raw Material, Application, End-Use Industry, and Region, 2025-2033", the global dimethyl ether market size reached USD 7.22 Billion in 2024. Looking forward, IMARC…

Glucometer Manufacturing Plant Report 2025: Unit Setup, Cost and Requirements, P …
Setting up a glucometer manufacturing plant requires thorough market research alongside a minute understanding of numerous operating factors such as unit processes, purchasing of raw materials, utility supply, infrastructure creation, equipment and technology specifications, human resource planning, logistics, and cash outlay.
IMARC Group's report titled "Glucometer Manufacturing Plant Cost Analysis Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a…
More Releases for Elevator
Elevator Services Market shows Unbelievable Growth | Allied Elevator, Bison Elev …
Elevator Services market trends research report 2024 to 2031. The report is designed to provide an overview of the industry with market growth analysis with historical and futuristic perspective for the following parameters: revenue, demand, and supply data (if applicable). High Level Research Report on Elevator Services market attributes using proprietary tools such as Penetration Mapping Index and other effective mapping tools such as Porter's Five Forces Analysis, SWOT, PESTEL,…
Van Elevator Market | CNYD, Canny Elevator, Dongnan Elevator, Edunburgh Elevator
The global van elevator market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the van elevator market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
Elevator Modernization Market 2019: Top Key Players Are KONE Elevator, Schindler …
Elevator Modernization Market 2019 Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025. This report also provides data on patterns, improvements, target business sectors, limits and advancements. Furthermore, this research report categorizes the market by companies, region, type and end-use industry.
Get Sample Copy of this Report@ https://www.researchreportsworld.com/enquiry/request-sample/13869380
Global Elevator Modernization market 2019 research provides a basic overview of the industry including definitions, classifications,…
2019 Elevator Modernization Market | By Leading Players: KONE Elevator, Schindle …
Elevator Modernization Market report provides Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025. This market study answers several questions (like current market status, future market opportunities, global and regional distribution industry) for stakeholders, primarily which market segments they should focus upon, during the next few years to prioritize their efforts and investments.
Download PDF Sample of this Report @
https://www.reporthive.com/enquiry.php?id=1520666&req_type=smpl&utm_source=SN
The major manufacturers covered in this report:
• KONE Elevator
• Schindler Group
• Otis Elevator…
Elevator & Escalators Market to Witness Huge Growth by 2025 | Leading Key Player …
HTF MI recently introduced Global Elevator & Escalators Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Sanyo Elevator, DAIKO, Escone Elevators, Saita Kougyou, Hitachi, Fujitec,Otis Elevator,…
Global Elevator and Escalator Sales Market Report 2017 - Hitachi, Otis Elevator, …
Geographically, this report split global into several key Regions, with sales (K Units), revenue (Million USD), market share and growth rate of Elevator and Escalator for these regions, from 2012 to 2022 (forecast), covering
United States
China
Europe
Japan
Southeast Asia
India
Global Elevator and Escalator market competition by top manufacturers/players, with Elevator and Escalator sales volume, Price (USD/Unit), revenue (Million USD) and market share for each manufacturer/player; the top players including
Hitachi
KONE
Mitsubishi Electric
Otis Elevator
Schindler Elevator
ThyssenKrupp Elevator
Beacon Engineering
Canny…