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Global Growth In Commercial Real Estate Fuels Escalators And Moving Walkways Market Driving Market Acceleration in the Escalators and Moving Walkways Industry, 2025
Escalators and Moving Walkways Market
How Large Will the Escalators and Moving Walkways Market Size By 2025?
There has been notable growth in the escalators and moving walkways market recently. The market size is projected to escalate from $18.44 billion in 2024 to $19.44 billion in 2025, representing a compound annual growth rate (CAGR) of 5.4%. This growth within the previous period draws largely from increased urbanization and population concentration in urban areas, development in commercial and public infrastructure activities, expansion of places such as airports, malls, and transport centers. Also contributing to the growth is the focus on improving passenger convenience and mobility paired with an intensified emphasis on safety and accessibility standards.
How Big Is the Escalators and Moving Walkways Market Size Expected to Grow by 2029?
In the years to come, a robust growth is projected in the escalators and moving walkways market, which is predicted to reach $24.91 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.4%. This surge over the forecast period can be credited to their incorporation in smart cities, refurbishing and modernization of existing transport infrastructure, the need for high-capacity and high-intensity escalators, the growth of massive transit systems and metro networks, and a concentrated emphasis on contactless and clean escalator solutions. During the forecast period, significant trends would involve incorporating IoT and smart connectivity, energy-saving and regenerative drive systems, innovative designs for better aesthetics and combination, contactless and uv-c disinfection solutions, highly durable advanced materials, remote observing, and predictive upkeeping.
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Which Key Market Drivers Powering Escalators and Moving Walkways Market Expansion and Growth?
The global escalators and moving walkways market is expected to thrive due to the booming commercial real estate market. Commercial real estate involves the development of commercial activities, encompassing firms and large-scale residential premises. Escalators and moving walkways are vital in commercial structures as they transport individuals and commodities between floors. For example, CBRE Group, Inc., an American company specializing in commercial real estate services and investment, reported that 2021 witnessed a record global investment in commercial real estate of USD 1.3 trillion, marking a 55% surge from 2020. Furthermore, the annual investment volume in America saw an 83% increase, exceeding USD 775 billion in 2021. Hence, the blossoming commercial real estate worldwide, supplemented by the growing investment in the same, is catalyzing the expansion of the escalator and moving walkway markets.
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Which Fast-Growing Trends Are Poised to Disrupt the Escalators and Moving Walkways Market?
The key trend ascending in the market for escalators and moving walkways is the innovation of new products. With an aim to maintain their market position, major firms in this sector are primarily focused on launching novel products. Otis Elevator Sdn Bhd, a Malaysia-based transport company, is a case in point. In August 2024, it unveiled its Gen3TM digitally connected elevator, taking the elevator-riding journey to the next level with improved connectivity functions. The Otis ONE IoT digital platform ensures an integrated Gen3 elevator, allowing equipment health and functionality to be monitored in real time, thus allowing preventative maintenance, and reducing unproductive downtime. It is devised for multiple building types such as residential, commercial, and medical, with both machine room and machine-roomless options. Significant features include an eView display from Otis for infotainment, Compass 360 technology for elevated travel efficiency, and eco-friendly components like LED lighting and regenerative drives.
What Are the Emerging Segments in the Escalators and Moving Walkways Market?
The escalators and moving walkways market covered in this report is segmented -
1) By Product: Escalators, Moving Walkways
2) By Application: Public Transit, Airport, Retail, Institutional, Other Applications
Subsegments:
1) By Escalators: Commercial Escalators, Residential Escalators, Industrial Escalators
2) By Moving Walkways: Horizontal Moving Walkways, Inclined Moving Walkways
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Who Are the Global Leaders in the Escalators and Moving Walkways Market?
Major companies operating in the escalators and moving walkways market include Kone Oyj, ?t?? ?l?v?t?r ??m??n?, Schindler Group, Mitsubishi Electric Corporation, Fujitec Co. Ltd., ThyssenKrupp AG, Sigma Elevator Co. Ltd., Hyundai Elevator Co. Ltd., Toshiba Corporation, Hitachi Ltd., Canny Elevator Co. Ltd., Kleemann Hellas SA, Shanghai Mitsubishi Elevator Co. Ltd., Ningbo Xinda Group Co. Ltd., Guangdong Huasheng Electrical Appliances Co. Ltd., Sicher Elevator Co. Ltd., Shenyang Brilliant Elevator Co. Ltd., Hangzhou Xizi Elevator Co. Ltd., Suzhou Ostar Elevator Co. Ltd., Sodimas, Excel Elevator and Escalator Corp., Elevator Technology (Shenyang) Co. Ltd., Vintec Elevators Private Limited, Anlev Elex Elevator Co. Ltd., Sematic Group
Which are the Top Profitable Regional Markets for the Escalators and Moving Walkways Industry?
North America was the largest region in the escalators and moving walkway market in 2024. The regions covered in the escalators and moving walkways market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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