Elevators & Escalators Market worth $187.91 billion by 2030, growing at a CAGR of 7.49% - Exclusive Report by 360iResearch

The "Elevators & Escalators Market by Product Type (Elevators, Escalators), ElevationTechnology (Hydraulic, Traction), End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Elevators & Escalators Market to grow from USD 113.31 billion in 2023 to USD 187.91 billion by 2030, at a CAGR of 7.49%.

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An elevator, also known as lift, is a vertical transportation system, while an escalator is a moving staircase designed to transport people between different levels of a building structure. The rapid construction of taller buildings and larger structures have increased the demand for elevators & escalators to move people and goods within these spaces efficiently. They save time and reduce the effort required in climbing stairs, resulting in faster transit times for individuals. The real estate industry is currently highly focused on expanding building aesthetics by adding automated and modernized systems, encouraging better deployment of vertical transportation systems. Elevators are crucial in providing access to upper floors for those with disabilities or limited mobility, such as wheelchair users, elderly individuals, or those carrying heavy luggage. Escalators are also useful for increasing accessibility in public spaces such as shopping malls and transportation hubs. However, their operational complications and safety risks are major concerns impeding their use by some end users. Market players are constantly working on upgrading the safety capacities of elevators & escalators according to international standards to ensure their reliability in buildings. Moreover, with government initiatives encouraging the establishment of smart and green buildings, the demand for energy-efficient and IoT-connected elevators & escalators is expected to rise.

The elevators & escalators market in the Americas is advancing, driven by the expanding public-private investments in infrastructure development and the increasing popularity of vertical transportation in the innovative multi-Florey buildings in the region. Countries in the Americas are tremendously extending their development of smart elevators across shopping malls, schools, and universities, enabling the wider provision of high-quality and secure systems. The Asian region has seen tremendous growth in establishing high-rise buildings in urban centers, which has progressed the installation of elevators and escalators. The region has a strong presence of global players and has recently seen an influx of regional manufacturers catering to specific markets. The demand for high-speed elevators & escalators is increasing in skyscrapers and tall buildings in the region to ensure more efficient transportation. The EMEA market is highly competitive, with the presence of global players actively involved in the upgradation, modernization, maintenance, and installation of new elevators in commercial spaces and hospitals. With the region portraying a high interest in maintaining environmental sustainability and customer safety, the market players have ensured a growing emphasis on offering energy-efficient and secure systems. The Americas and European market have been guided by strict regulatory safety standards, which has emerged as a critical aspect of the regional manufacturers' offerings.

Market Segmentation & Coverage:

This research report categorizes the Elevators & Escalators Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product Type, market is studied across Elevators and Escalators. The Elevators is further studied across Dumbwaiter, Freight Elevator, Passenger Elevator, and Service Elevator. The Escalators is further studied across Belt-type Escalators, Crisscross Escalator, Curved Escalators, Multi-Story Escalators, Outdoor Escalators, Parallel Escalator, Stairway Escalators, and Wheelchair-accessible Escalator. The Elevators commanded largest market share of 65.27% in 2023, followed by Escalators.

Based on ElevationTechnology, market is studied across Hydraulic and Traction. The Hydraulic commanded largest market share of 46.70% in 2023, followed by Traction.

Based on End-User, market is studied across Commercial, Industrial, and Residential. The Industrial commanded largest market share of 44.17% in 2023, followed by Residential.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 42.22% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Elevators & Escalators Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Elevators & Escalators Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Elevators & Escalators Market, highlighting leading vendors and their innovative profiles. These include Aritco Lift AB, AVT Beckett, Canny Elevator Co., Ltd., Delfar Elevator Co., Ltd., Delta Elevator Co. Ltd., Electra Elevators, Fujitec Co., Ltd., Hitachi Ltd., Honeywell International Inc., Hyundai Elevator Co., Ltd., Kleemann Hellas SA, Kone Corporation, Mitsubishi Electric Corporation, Ningbo Hosting Elevator Co., Ltd., Omega Elevators, Orona Group, Otis Worldwide Corporation, Panasonic Corporation, Savaria Corporation, Schindler Holding Ltd., Siemens AG, Sigma Elevator Company, Southeast Elevator Inc., Tecno S.r.l., Teknix Elevators Pvt. Ltd., ThyssenKrupp AG, Toshiba Corporation, WAGO GmbH & Co. KG, Wittur Holding GmbH, and Yaskawa Electric Corporation.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Elevators & Escalators Market, by Product Type
7. Elevators & Escalators Market, by ElevationTechnology
8. Elevators & Escalators Market, by End-User
9. Americas Elevators & Escalators Market
10. Asia-Pacific Elevators & Escalators Market
11. Europe, Middle East & Africa Elevators & Escalators Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Elevators & Escalators Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Elevators & Escalators Market?
3. What is the competitive strategic window for opportunities in the Elevators & Escalators Market?
4. What are the technology trends and regulatory frameworks in the Elevators & Escalators Market?
5. What is the market share of the leading vendors in the Elevators & Escalators Market?
6. What modes and strategic moves are considered suitable for entering the Elevators & Escalators Market?

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