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Analysis of Key Market Segments Influencing the Escalators and Moving Walkways Industry
Escalators and Moving Walkways
Projected Market Value and Growth Rate of the Escalators and Moving Walkways Market
The market for escalators and moving walkways is forecasted to reach a value of $25.52 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.0%. This upward trajectory is driven by various factors, such as heightened investments in intelligent transportation hubs and growing demand for energy-efficient vertical mobility systems. Additional contributors include airport terminal upgrades, a rise in urban population density, and wider adoption of predictive maintenance technologies. Key trends influencing the market include the installation of energy-saving escalator systems, increased use of smart monitoring and control solutions, heightened demand for heavy-duty walkways in airports, ongoing modernization and retrofit projects, and a stronger emphasis on passenger safety.
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Top Companies Leading the Escalators and Moving Walkways Market
The escalators and moving walkways industry features several prominent companies, including:
- KONE Oyj
- Otis Elevator Company
- Schindler Group
- Mitsubishi Electric Corporation
- Fujitec Co. Ltd.
- ThyssenKrupp AG
- 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.
- 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.
In February 2025, TK Elevator, a vertical mobility company based in Germany, entered a strategic joint venture with Saudi Arabia's Alat to produce comprehensive elevator and escalator solutions locally. This partnership aims to enhance production capabilities within Saudi Arabia, broaden market access, and provide integrated mobility offerings. Additionally, Alat has become a key long-term shareholder in TK Elevator, supporting sustainable growth and technological innovation in the region's vertical transportation sector. Alat is known for its focus on infrastructure development and strategic partnerships within Saudi Arabia.
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Technological Advancements and Innovations Shaping the Market
Leading companies in the escalators and moving walkways sector are prioritizing innovations that improve ride quality, operational efficiency, and predictive maintenance. For example, in August 2024, Otis Elevator Sdn Bhd from Malaysia launched the Gen3TM digitally connected elevator. This system enhances passenger experience through advanced connectivity and integrates with Otis ONE IoT platform for real-time equipment health monitoring and proactive maintenance. The Gen3 model is suitable for residential, commercial, and healthcare buildings and offers both machine room and machine-roomless options. Its standout features include the Otis eView infotainment display, Compass 360 technology that optimizes travel efficiency, and eco-friendly components like LED lighting and regenerative drives. These smart design elements help improve sustainability while delivering a smoother ride.
Important Segments Driving the Escalators and Moving Walkways Market
The market is segmented into several key categories:
1) By Product Type: Escalators and Moving Walkways
2) By Installation Type: New Installations and Refurbishments
3) By Application Area: Public Transit, Airports, Retail Spaces, Institutional Buildings, and Other Uses
Further subsegments include:
- Escalators divided into Commercial and Industrial types
- Moving Walkways categorized as Horizontal or Inclined walkways
These segments reflect the diverse applications and customization options available, catering to a wide range of infrastructure needs worldwide.
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