# Elevator & Escalator Market 2025: Size, Share, Growth Trends, Key Players, and Regional Insights
<h2><strong>Elevator & Escalator Market Overview</strong></h2><p><a href="https://www.fortunebusinessinsights.com/industry-reports/elevator-and-escalator-market-100301">Elevator & Escalator Market 2025</a> reflects the growing global demand and increasing competitiveness within the industry, fueled by rapid technological advancements and evolving customer needs. The market continues to evolve across various sectors as companies expand their portfolios and invest in innovation. The Elevator & Escalator market encompasses a diverse range of manufacturers, suppliers, and end-users, contributing to a dynamic ecosystem shaped by regulatory trends, sustainability goals, and digital transformation.</p><blockquote><p><em> The global elevator & escalator market size was valued at USD 94.05 billion in 2024. The market is projected to grow from USD 100.23 billion in 2025 to USD 167.62 billion by 2032, exhibiting a CAGR of 7.6% during the forecast period. Asia Pacific dominated the global market with a share of 43.77% in 2024.</em></p></blockquote><p>The elevator and escalator market is evolving with the integration of smart technologies, energy-efficient designs, and AI-powered predictive maintenance solutions. Touchless controls, IoT connectivity, and advanced safety features are enhancing user experience and reliability. With urbanization and infrastructure development on the rise, the market continues to grow.</p><h2><strong>Market Highlights</strong></h2><ul><li>The Elevator & Escalator market is witnessing robust growth, driven by rising demand across multiple industries and ongoing technological innovation.</li><li>Companies are leveraging digital transformation and sustainability initiatives to strengthen their market position and address evolving customer requirements.</li></ul><p><strong>Get Sample Report PDF|</strong><a href="https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100301">https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100301</a></p><h2><strong>Elevator & Escalator Market Size</strong></h2><p>The Elevator & Escalator market size is expanding steadily, supported by increasing demand from various industries. In <strong>2024</strong>, the market was valued at approximately <strong>USD 94.05 billion</strong>, reflecting a strong foundation and the growing adoption of advanced technologies and solutions. Sustained growth is anticipated in the coming years, driven by continuous innovation, cost optimization, and an expanding end-user base in both industrial and commercial applications.</p><h2><strong>Elevator & Escalator Market Share</strong></h2><p>Global competition in the Elevator & Escalator market is intense, with both established and emerging players striving for leadership. The market is projected to register a compound annual growth rate (CAGR) of <strong>7.6%</strong> from <strong>2024 to 2032</strong>, propelled by steady expansion and strategic market penetration by key players. Market share leadership is typically achieved through technological innovation, strategic alliances, and broad geographic reach.</p><h2><strong>Elevator & Escalator Market Growth</strong></h2><p>The Elevator & Escalator market demonstrates strong growth prospects and is expected to reach approximately <strong>USD 167.62 billion by 2032</strong>. This positive trajectory is driven by increasing industrial demand, supportive government measures, and rising investments in research and development. Key global trends—including automation, sustainability, digital integration, and the emergence of new economies—are playing a pivotal role in shaping market growth.</p><p>To gain deeper insights tailored to your business needs or to discuss how these market trends can impact your organization, we invite you to <strong>book a call with our industry experts</strong>. Our team is ready to provide personalized guidance, answer your specific questions, and help you identify strategic opportunities in the Elevator & Escalator market. Schedule your consultation today to stay ahead in this rapidly evolving industry.</p><p><strong><a href="https://www.fortunebusinessinsights.com/enquiry/book-a-call/100301">Book a Free 30 Minutes Call</a></strong></p><h2><strong>Elevator & Escalator Market Top Companies</strong></h2><p>Some of the leading companies operating in the Elevator & Escalator market include:</p><p><ul type="disc"><li>Fujitec Co. Ltd (Japan)</li><li>Hitachi Ltd (Japan)</li><li>Hyundai Elevator Co Ltd (South Korea)</li><li>Kone Corporation (Finland)</li><li>Mitsubishi Electric Corporation (Japan)</li><li>Otis Worldwide Corporation (U.S.)</li><li>Schindler (Switzerland)</li><li>SJEC Corporation (China)</li><li>TK Elevator GmbH (Germany)</li><li>Toshiba Corporation (Japan)</li></ul></p><p>These organizations are focused on product innovation, mergers and acquisitions, regional expansion, and strategic partnerships to enhance their competitive position in the global market.</p><h2><strong>Elevator & Escalator Market Development</strong></h2><p>The Elevator & Escalator market is being shaped by several key trends that are transforming industry dynamics, including:</p><p><ul><li>Otis Worldwide Corporation received an order for the modernization of 34 elevators in Burj Khalifa based in the U.A.E. The Burj Khalifa is the world’s tallest building. The company got a maintenance and modernization contract for ten years.</li><li>TK Elevator GmbH launched the new EXO Renew Series of elevators for low-rise and high-rise residential buildings. It is versatile, designed for using 100% green electricity and requires 28% less energy compared to other models. </li><li>Fujitec India Private Ltd, a subsidiary of Fujitech Co. Ltd, received an order of 538 elevators for large-scale residential housing projects in Gurgaon, India. These elevators would be manufactured and supplied from a high-rise elevator manufacturing facility based in Chennai, India. This order would be completed by the end of 2025. </li><li>Schindler signed a partnership with Umm AI Qura, based in Saudi Arabia, to provide 150 elevator orders for installation at Makkah, Saudi Arabia. This order includes 65 Schindler 5000 series elevators, 44 Schindler 7000 series elevators, and five elevators for the platform. These elevators help to improve passenger transportation from restaurants and hotels.<strong> </strong></li><li>Hitachi Ltd introduced a new touchless operating panel for monitoring and controlling elevators and escalators. It has features such as enabling touchless use, a simplified method, and operating through a numerical pad.</li></p><p>These trends are enabling businesses to improve operational efficiency and implement future-proof solutions.</p><h2><strong>Elevator & Escalator Market Drivers and Restraints</strong></h2><p><ul><li><strong>Drivers:</strong><ul><li>Increasing urbanization and construction of high-rise buildings driving the demand for elevators and escalators in residential and commercial sectors.</li><li>Growing focus on accessibility and safety regulations promoting the installation of modern elevator and escalator systems.</li></ul></li><li><strong>Restraints:</strong><ul><li>High initial installation and maintenance costs of elevators and escalators may limit adoption in some regions.</li><li>Space constraints in older buildings and retrofitting challenges hindering the implementation of new systems.</li></ul></li></ul></p><h2><strong>Elevator & Escalator Market by Region</strong></h2><p>Geographically, the Elevator & Escalator market is dominated by:</p><ul><li><strong>North America:</strong> Driven by early adoption of advanced technologies and the presence of major manufacturers.</li><li><strong>Asia Pacific:</strong> Fueled by rapid industrialization and infrastructure growth in countries such as China, India, and South Korea.</li><li><strong>Europe:</strong> Supported by strong regulatory policies, R&D investments, and innovation centers.</li></ul><p>While these regions contribute significantly to global market revenue, emerging markets in Latin America, the Middle East, and Africa are also expected to experience substantial growth during the forecast period.</p><h4><strong>About Fortune Business Insights™</strong></h4><p>Fortune Business Insights™ provides trusted market intelligence and forward-looking analysis to help organizations of all sizes make strategic business decisions. Our insights, based on deep research, empower clients to address industry-specific challenges and capitalize on new opportunities with confidence.</p>
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