Elevator & Escalator Market Size, Share & Growth Forecast, 2032

# Elevator & Escalator Market Size, Share & Growth Forecast, 2032 # Report provides detailed overview of <a href="https://www.fortunebusinessinsights.com/industry-reports/elevator-and-escalator-market-100301">Global Elevator & Escalator Market 2025</a>: Elevator & Escalator Market Size was estimated at USD 88.59 billion in 2023. The Elevator & Escalator Market growth is expected to USD 167.62 billion in 2032 exhibiting a CAGR of 7.5% during the forecast period. This report serves as a valuable resource for industry players, helping them make informed decisions and stay ahead of the competition in a rapidly evolving market landscape. With its comprehensive coverage and actionable insights, the Elevator & Escalator Market Report offers unparalleled opportunities for growth and success in the industry.Get Sample Report PDF|<a href="https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100301">https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100301</a>List of top Elevator & Escalator Companies:<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>The Elevator & Escalator Market Report presents a detailed analysis of trends, drivers, and challenges within the industry. It includes thorough insights into market segmentation by product type, application, and geography. It also investigates consumer behavior and preferences that affect market dynamics. Forecasts for market size and growth potential in the upcoming years are included, backed by quantitative data. It also addresses regulatory factors and technological advancements influencing the market, making this report a valuable resource for stakeholders looking to make informed business decisions.Key Industry Developments:<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. </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>The report also considers the impact of external factors, such as mergers and acquisitions, emerging market trends, the COVID-19 pandemic, and geopolitical conflicts, on the Elevator & Escalator market. This in-depth analysis makes the report an indispensable resource for industry stakeholders, including investors, researchers, consultants, business strategists, and those seeking to enter the market.<h3>Key questions are answered in this report:</h3><div><div dir="auto" data-message-author-role="assistant" data-message-id="41f29c42-3951-471b-826d-9bb167cfd4c0"><div><div><ol><li>What is the current market size and growth forecast for the elevator and escalator market?<ul><li>The global elevator and escalator market was valued at USD 88.59 billion in 2023 and is projected to grow from USD 94.05 billion in 2024 to USD 167.62 billion by 2032. This growth represents a compound annual growth rate (CAGR) of 7.5% during the forecast period.</li></ul></li><li>What factors are driving the growth of the elevator and escalator market?<ul><li>The growth in this market is primarily driven by the increasing urbanization and construction of high-rise buildings, which require efficient vertical transportation solutions. Additionally, advancements in technology, such as smart elevators and escalators with energy-saving features, as well as the rising demand for modernization and upgrades in existing buildings, contribute to market expansion.</li></ul></li><li>Which regions are experiencing significant growth in the elevator and escalator market?<ul><li>The Asia Pacific region, especially countries like China and India, is witnessing substantial growth due to rapid urbanization and infrastructure development. North America and Europe also have significant market shares, with the U.S., Canada, Germany, and the U.K. being key contributors. The Middle East and Latin America are emerging markets as well, driven by ongoing construction and modernization projects.</li></ul></li><li>Who are the leading companies in the elevator and escalator market?<ul><li>Major players in the elevator and escalator market include Fujitec Co. Ltd (Japan), Hitachi Ltd (Japan), Hyundai Elevator Co Ltd (South Korea), Kone Corporation (Finland), Mitsubishi Electric Corporation (Japan), Otis Worldwide Corporation (U.S.), Schindler (Switzerland), SJEC Corporation (China), TK Elevator GmbH (Germany), and Toshiba Corporation (Japan). These companies are recognized for their innovative solutions and strong market presence.</li></ul></li><li>What applications do elevators and escalators serve?<ul><li>Elevators and escalators are used in a variety of applications, including residential buildings, commercial complexes, shopping malls, airports, and public transport stations. Their ability to provide efficient and safe vertical transportation is crucial in environments with high foot traffic, making them essential for modern urban infrastructure. The trend towards smarter, more energy-efficient systems further enhances their role in contemporary buildings.</li></ul></li></ol></div></div></div></div>The market research report is structured to provide a comprehensive analysis of the industry landscape, offering valuable insights for stakeholders. It begins with an Executive Summary, which presents a concise Market Overview, highlighting Key Findings and delivering a Market Size & Growth Forecast. This section also includes a brief Competitive Landscape Overview, outlining the current market players and their standings.Related Reports:<a href="https://www.htv10.tv/story/52232294/industrial-seals-market-share-2025-industry-size-trends-and-forecast-2032">Industrial Seals Market</a> 2025 Key Drivers, Industry Size & Trends and Forecasts to 2032<a href="https://www.htv10.tv/story/52232293/commercial-air-conditioner-market-share-2025-industry-size-trends-and-forecast-2032">Commercial Air Conditioner Market</a> 2025 Data Current and Future Trends, Revenue, Business Growth Forecast to 2032<a href="https://www.htv10.tv/story/52232292/industrial-sewing-machine-market-share-2025-industry-size-trends-and-forecast-2032">Industrial Sewing Machine Market</a> 2025 Latest Industry Size, Growth, Demand, Trends Forecasts to 2032<a href="https://www.htv10.tv/story/52232291/packaging-machinery-market-share-2025-industry-size-trends-and-forecast-2032">Packaging Machinery Market</a> 2025 Size, Trends Outlook, Geographical Segmentation Forecasts to 2032<a href="https://www.htv10.tv/story/52232290/conveyor-systems-market-share-2025-industry-size-trends-and-forecast-2032">Conveyor Systems Market</a> 2025 Size, Gross Margin, Trends, Future Demand, Analysis by Top Leading Players and Forecast till 2032<a href="https://www.htv10.tv/story/52232289/semiconductor-manufacturing-equipment-market-share-2025-industry-size-trends-and-forecast-2032">Semiconductor Manufacturing Equipment Market</a> 2025 Key Drivers, Industry Size & Trends and Forecasts to 2032<a href="https://www.htv10.tv/story/52232288/europe-modular-construction-market-share-2025-industry-size-trends-and-forecast-2032">Europe Modular Construction Market</a> 2025 Data Current and Future Trends, Revenue, Business Growth Forecast to 2032<a href="https://www.htv10.tv/story/52232287/asia-pacific-smart-manufacturing-market-share-2025-industry-size-trends-and-forecast-2032">Asia Pacific Smart Manufacturing Market</a> 2025 Latest Industry Size, Growth, Demand, Trends Forecasts to 2032<a href="https://www.htv10.tv/story/52232286/forestry-equipment-market-share-2025-industry-size-trends-and-forecast-2032">Forestry Equipment Market</a> 2025 Size, Trends Outlook, Geographical Segmentation Forecasts to 2032<a href="https://www.htv10.tv/story/52232285/interactive-kiosk-market-share-2025-industry-size-trends-and-forecast-2032">Interactive kiosk Market</a> 2025 Size, Gross Margin, Trends, Future Demand, Analysis by Top Leading Players and Forecast till 2032<h3>About Us</h3>Fortune Business Insights™ provides expert corporate analysis and accurate market data to help businesses of all sizes make informed decisions. We deliver tailored solutions to address unique business challenges, empowering clients with holistic market intelligence for a granular industry overview.<h3>Contact Us</h3>Fortune Business Insights™ Pvt. Ltd. Phone:<ul><li>U.S.: +1 833 909 2966 (Toll-Free)</li><li>UK: +44 808 502 0280 (Toll-Free)</li><li>APAC: +91 744 740 1245</li></ul>Email:<a href="mailto:sales@fortunebusinessinsights.com">sales@fortunebusinessinsights.com</a>