The global Elevator and Escalator market size is projected to reach USD 48.43 billion by 2029

An Elevator, also called Lift in British English, is a type of transport equipment that efficiently carries passengers or freight between the levels of multistory building. Most modern elevators are propelled by electric motors, with the aid of a counterweight, through a system of cables and sheaves (pulleys). By opening the way to higher buildings, the elevator played a decisive role in creating the characteristic urban geography of many modern cities, especially in the United States, and promises to fill an indispensable role in future city development.

In generally, elevators include the escalators and the moving walkways. An escalator is a moving staircase used as transportation between floors or levels in subways, buildings, and other mass pedestrian areas. A moving walkway or moving sidewalk, travelator, is a slow-moving conveyor mechanism that transports passengers across a horizontal or inclined plane over a short to medium distance. The different between the escalator and the moving walkway is the former has stairs and the latter is a flat or slant apron without stairs.

According to the new market research report “Global Elevator and Escalator Market Report 2023-2029”, published by GIResearch, the global Elevator and Escalator market size is projected to reach USD 48.43 billion by 2029, at a CAGR of 3.4% during the forecast period.

• Global Elevator and Escalator MarketSize(US$ Million), 2018-2029

Source: GlobalInfoResearch, “Global Elevator and Escalator Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”(published in 2023). If you need the latest data, plaese contact GIResearch..

• Global Elevator and Escalator Top23 Players Rankingand Market Share (Ranking is based on the revenue of 2022, continually updated)

Source: GlobalInfoResearch, “Global Elevator and Escalator Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030”(published in 2023). If you need the latest data, plaese contact GIResearch.

The global key manufacturers of Elevator and Escalator include Otis, Schindler Group, ThyssenKrupp, Kone, Mitsubishi Electric, Hitachi, Toshiba, Hyundai, Canny Elevator, Fujitec, etc. In 2022, the global top 10 players had a share approximately 85.0% in terms of revenue.

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