Elevators and Escalators Market Research Report– Forecast 2027

Elevators and Escalators Market Research Report, Type (Elevators, Escalators, Moving Walkways), Service (New Installation, Maintenance & Repair), Elevator Technology (Traction, Machine room-Less, Hydraulic), End User and Region - Forecast Till 2027

ID: MRFR/CO/4070-HCR | February, 2021 | Region : Global

Elevators and Escalators Market Synopsis:


Elevator & escalator market size was estimated at USD 77.86 billion in 2019 and is projected to reach USD 120.43 billion by 2027, at a CAGR of 6.3% from 2020 - 2027.

Geographically, the global Elevators and Escalators market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region, has accounted for the largest market share, in 2016 and is projected to grow at the highest CAGR during the forecast period. Growing demand from residential as well as construction sector is the major factor driving the growth of the market. Increasing supportive regulations from the government also fuel the growth of the market. For example, in India the government announced numerous major policy initiatives such as the Real Estate Act 2016, the amendment to the Benami Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration norms for construction companies, and many others. These initiatives further boost to the construction industry in the country and increase the demand of the market. China, Japan, India, and Singapore are the major markets in Asia Pacific. China is one of the leading markets in the region.


European region, is the second largest region for Elevators and Escalators. Growing renovation and reformation of the homes driving the growth of the market in Europe. U.K., Germany, Poland, and France, are the major markets for Elevators and Escalators. The Middle East & South America regions are expected to contribute significantly during the forecast period mainly due to changing lifestyle and high growth in construction sector. North America is another major market for the elevators and escalators. Growing residential and non-residential construction activities in the region is driving the growth of the market.


The Prominent Players


The prominent players in the elevators and escalators market include KONE Corporation (Finland), Sigma Elevator Company (Korea), Otis Elevator Company (U.S.), United Technologies (U.S.), Schindler (Switzerland), Mitsubishi Electric Corporation (Japan), ThyssenKrupp AG (Germany), FUJITEC (Japan), Hitachi Ltd. (Japan), Hyundai Elevator Co., Ltd. (South Korea), Toshiba Elevator And Building Systems Corporation (Japan), Stein Ltd (Russia), PAPPAS Elevators (Russia), Gulf Elevator & Escalator Co. Ltd. (Saudi Arabia) and Electra Ltd. (Israel).


Global Elevators and Escalators Market Segmentation:


 Elevators and Escalators Market


Source: MRFR Analysis


For the purpose of this study, the global elevators and escalators market has been divided into four segments such as type, service, elevator technology, and end-user. On the basis of type, the market has been segmented into elevators, escalators, and moving walkways. Elevators accounted for the largest market share and is expected to remain dominant over the forecast period mainly due to their growing demand from the commercial spaces. Escalators segment is expected to show the highest growth during the forecast period. Increasing infrastructure development across the globe is further driving the demand of escalators.


On the basis of service, the market has been segmented into new installation and maintenance & repair. New installation segment accounted for the largest market share and is expected to remain dominant over the forecast period. Rapid growth in construction sector across the globe driving the growth of the market. Maintenance & repair services is also expected to contribute significantly during the forecast period. All new and existing elevators and escalators installed till the date require routinely repair & maintenance for their proper functioning. This makes the maintenance & repair market very productive and fast growing.


Characterized by the presence of several well-established and small players, the global market of elevators and escalators appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in the market and to maintain their market position. These key players compete on pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These key players make a substantial investment for R&D and to secure a guaranteed resource for the customers.


Hence, global elevators and escalators market is expected to grow at a CAGR of 6.3% during the forecast period.


The report for Global Elevators and Escalators Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Threat of substitutes

3.1.4 Segment rivalry

3.1.5 Bargaining Power of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Elevators and Escalators Market, By Type

5.1 Introduction

5.2 Elevators

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Escalators

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.4 Moving Walkways

5.4.1 Market Estimates & Forecast, 2020-2027

5.4.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Elevators and Escalators Market, By Elevator Technology

6.1 Introduction

6.2 Traction

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Machine room-Less

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.4 Hydraulic

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast by Region, 2020-2027

7 Global Elevators and Escalators Market, By Services

7.1 Introduction

7.2 New Installation

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Maintenance & Repair

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

8 Global Elevators and Escalators Market, By End User

8.1 Introduction

8.2 Residential

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Non-Residential

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

9 Global Elevators and Escalators Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2019-2023

9.2.2 Market Estimates & Forecast by Type, 2019-2023

9.2.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.2.4 Market Estimates & Forecast by Services, 2019-2023

9.2.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.2.6 The U.S.

9.2.6.1 Market Estimates & Forecast, 2019-2023

9.2.6.2 Market Estimates & Forecast by Type, 2019-2023

9.2.6.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.2.6.4 Market Estimates & Forecast by Services, 2019-2023

9.2.6.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.2.7 Canada

9.2.7.1 Market Estimates & Forecast, 2019-2023

9.2.7.2 Market Estimates & Forecast by Type, 2019-2023

9.2.7.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.2.7.4 Market Estimates & Forecast by Services, 2019-2023

9.2.7.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3 Europe

9.3.1 Market Estimates & Forecast, 2019-2023

9.3.2 Market Estimates & Forecast by Type, 2019-2023

9.3.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.4 Market Estimates & Forecast by Services, 2019-2023

9.3.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.6 U.K

9.3.6.1 Market Estimates & Forecast, 2019-2023

9.3.6.2 Market Estimates & Forecast by Type, 2019-2023

9.3.6.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.2.6.4 Market Estimates & Forecast by Services, 2019-2023

9.2.6.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.7 Germany

9.3.7.1 Market Estimates & Forecast, 2019-2023

9.3.7.2 Market Estimates & Forecast by Type, 2019-2023

9.3.7.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.7.4 Market Estimates & Forecast by Services, 2019-2023

9.3.7.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.8 France

9.3.8.1 Market Estimates & Forecast, 2019-2023

9.3.8.2 Market Estimates & Forecast by Type, 2019-2023

9.3.8.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.8.4 Market Estimates & Forecast by Services, 2019-2023

9.3.8.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.9 Italy

9.3.9.1 Market Estimates & Forecast, 2019-2023

9.3.9.2 Market Estimates & Forecast by Type, 2019-2023

9.3.9.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.9.4 Market Estimates & Forecast by Services, 2019-2023

9.3.9.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.10 Rest of Europe

9.3.10.1 Market Estimates & Forecast, 2019-2023

9.3.10.2 Market Estimates & Forecast by Type, 2019-2023

9.3.10.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.3.10.4 Market Estimates & Forecast by Services, 2019-2023

9.3.10.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2019-2023

9.4.2 Market Estimates & Forecast by Type, 2019-2023

9.4.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.4 Market Estimates & Forecast by Services, 2019-2023

9.4.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.6 China

9.4.6.1 Market Estimates & Forecast, 2019-2023

9.4.6.2 Market Estimates & Forecast by Type, 2019-2023

9.4.6.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.6.4 Market Estimates & Forecast by Services, 2019-2023

9.4.6.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.7 Japan

9.4.7.1 Market Estimates & Forecast, 2019-2023

9.4.7.2 Market Estimates & Forecast by Type, 2019-2023

9.4.7.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.7.4 Market Estimates & Forecast by Services, 2019-2023

9.4.7.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.8 India

9.4.8.1 Market Estimates & Forecast, 2019-2023

9.4.8.2 Market Estimates & Forecast by Type, 2019-2023

9.4.8.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.8.4 Market Estimates & Forecast by Services 2019-2023

9.4.8.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.9 Rest of Asia Pacific

9.4.9.1 Market Estimates & Forecast, 2019-2023

9.4.9.2 Market Estimates & Forecast by Type, 2019-2023

9.4.9.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.4.9.4 Market Estimates & Forecast by Services, 2019-2023

9.4.9.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.5 Rest of the World

9.5.1 Market Estimates & Forecast, 2019-2023

9.5.2 Market Estimates & Forecast by Type, 2019-2023

9.5.3 Market Estimates & Forecast by Elevator Technology, 2019-2023

9.5.4 Market Estimates & Forecast by Services, 2019-2023

9.5.5 Market Estimates & Forecast by Elevator Technology, 2019-2023

10 Competitive Landscape

11 Company Profile

11.1 KONE Corporation

11.1.1 Company Overview

11.1.2 Products/Services Offering

11.1.3 Financial Overview

11.1.4 Key Developments

11.1.5 Strategy

11.1.6 SWOT Analysis

11.2 Sigma Elevator Company

11.2.1 Company Overview

11.2.2 Products/Services Offering

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 Strategy

11.2.6 SWOT Analysis

11.3 Otis Elevator Company

11.3.1 Company Overview

11.3.2 Products/Services Offering

11.3.3 Financial Overview

11.3.4 Key Developments

11.3.5 Strategy

11.3.6 SWOT Analysis

11.4 United Technologies

11.4.1 Company Overview

11.4.2 Products/Services Offering

11.4.3 Financial Overview

11.4.4 Key Developments

11.4.5 Strategy

11.4.6 SWOT Analysis

11.5 Schindler

11.5.1 Company Overview

11.5.2 Products/Services Offering

11.5.3 Financial Overview

11.5.4 Key Developments

11.5.5 Strategy

11.5.6 SWOT Analysis

11.6 Mitsubishi Electric Corporation

11.6.1 Company Overview

11.6.2 Products/Services Offering

11.6.3 Financial Overview

11.6.4 Key Developments

11.6.5 Strategy

11.6.6 SWOT Analysis

11.7 ThyssenKrupp AG

11.7.1 Company Overview

11.7.2 Products/Services Offering

11.7.3 Financial Overview

11.7.4 Key Developments

11.7.5 Strategy

11.7.6 SWOT Analysis

11.8 FUJITEC

11.8.1 Company Overview

11.8.2 Products/Services Offering

11.8.3 Financial Overview

11.8.4 Key Developments

11.8.5 Strategy

11.8.6 SWOT Analysis

11.9 Hitachi Ltd

11.9.1 Company Overview

11.9.2 Products/Services Offering

11.9.3 Financial Overview

11.9.4 Key Developments

11.9.5 Strategy

11.9.6 SWOT Analysis

11.10 Hyundai Elevator Co., Ltd

11.10.1 Company Overview

11.10.2 Products/Services Offering

11.10.3 Financial Overview

11.10.4 Key Developments

11.10.5 Strategy

11.10.6 SWOT Analysis

11.11 Toshiba Elevator And Building Systems Corporation

11.11.1 Company Overview

11.11.2 Products/Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.7 Stein Ltd

11.12.1 Company Overview

11.12.2 Products/Services Offering

11.12.3 Financial Overview

11.12.4 Key Developments

11.12.5 Strategy

11.12.6 SWOT Analysis

11.8 PAPPAS Elevators

11.13.1 Company Overview

11.13.2 Products/Services Offering

11.13.3 Financial Overview

11.13.4 Key Developments

11.13.5 Strategy

11.13.6 SWOT Analysis

11.9 Gulf Elevator & Escalator Co. Ltd

11.14.1 Company Overview

11.14.2 Products/Services Offering

11.14.3 Financial Overview

11.14.4 Key Developments

11.14.5 Strategy

11.14.6 SWOT Analysis

11.15 Electra Ltd.

11.15.1 Company Overview

11.15.2 Products/Services Offering

11.15.3 Financial Overview

11.15.4 Key Developments

11.15.5 Strategy

11.15.6 SWOT Analysis  


List of Tables

Table 1 Global Elevators and Escalators Market: By Region, 2020-2027

Table 2 North America Elevators and Escalators Market: By Country, 2020-2027

Table 3 Europe Elevators and Escalators Market: By Country, 2020-2027

Table 4 Asia Pacific Elevators and Escalators Market: By Country, 2020-2027

Table 5 RoW Elevators and Escalators Market: By Country, 2020-2027

Table 6 Global Elevators and Escalators Market, By Type, By Regions, 2020-2027

Table 7 North America Elevators and Escalators Market, By Type, By Country, 2020-2027

Table 8 Europe Elevators and Escalators Market, By Type, By Country, 2020-2027

Table 9 Asia Pacific Elevators and Escalators Market by Type, By Country, 2020-2027

Table 10 RoW Elevators and Escalators Market by Type, By Country, 2020-2027

Table 11 Global Elevators and Escalators by Elevator Technology Market: By Regions, 2020-2027

Table 12 North America Elevators and Escalators Market by Elevator Technology: By Country, 2020-2027

Table 13 Europe Elevators and Escalators Market by Elevator Technology: By Country, 2020-2027

Table 14 Asia Pacific Elevators and Escalators Market by Elevator Technology: By Country, 2020-2027

Table 15 RoW Elevators and Escalators Market by Elevator Technology: By Country, 2020-2027

Table 16 Global Elevators and Escalators by Services Market: By Regions, 2020-2027

Table 17 North America Elevators and Escalators Market by Services: By Country, 2020-2027

Table 18 Europe Elevators and Escalators Market by Services: By Country, 2020-2027

Table 19 Asia Pacific Elevators and Escalators Market by Services: By Country, 2020-2027

Table 20 RoW Elevators and Escalators Market by Services: By Country, 2020-2027

Table 21 Global Elevators and Escalators by End User Market: By Regions, 2020-2027

Table 22 North America Elevators and Escalators Market by End User: By Country, 2020-2027

Table 23 Europe Elevators and Escalators Market by End User: By Country, 2020-2027

Table 24 Asia Pacific Elevators and Escalators Market by End User: By Country, 2020-2027

Table 25 RoW Elevators and Escalators Market by End User: By Country, 2020-2027

Table 26 Global Elevators and Escalators Market: By Region, 2020-2027

Table 27 Global Elevators and Escalators Market: By Type, 2020-2027

Table 18 Global Elevators and Escalators Market: By Elevator Technology, 2020-2027

Table 27 Global Elevators and Escalators Market: By Services, 2020-2027

Table 18 Global Elevators and Escalators Market: By End User, 2020-2027

Table 19 North America Elevators and Escalators Market, By Country

Table 20 North America Elevators and Escalators Market, By Type

Table 21 North America Elevators and Escalators Market, By Elevator Technology

Table 20 North America Elevators and Escalators Market, By Services

Table 21 North America Elevators and Escalators Market, By End User

Table 22 Europe: Elevators and Escalators Market, By Country

Table 23 Europe: Elevators and Escalators Market, By Type

Table 24 Europe: Elevators and Escalators Market, By Elevator Technology

Table 25 Europe: Elevators and Escalators Market, By Services

Table 26 Europe: Elevators and Escalators Market, By End User

Table 27 Asia Pacific: Elevators and Escalators Market, By Country

Table 28 Asia Pacific: Elevators and Escalators Market, By Type

Table 29 Asia Pacific: Elevators and Escalators Market, By Elevator Technology

Table 30 Asia Pacific: Elevators and Escalators Market, By Services

Table 31 Asia Pacific: Elevators and Escalators Market, By End User

Table 32 RoW: Elevators and Escalators Market, By Region

Table 33 RoW Elevators and Escalators Market, By Type

Table 34 RoW Elevators and Escalators Market, By Elevator Technology

Table 35 RoW Elevators and Escalators Market, By Services

Table 36 RoW Elevators and Escalators Market, By End User


List of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top down & Bottom up Approach

FIGURE 3 Market Dynamics

FIGURE 4 impact analysis: market drivers

FIGURE 5 impact analysis: market restraints

FIGURE 6 porter’s five forces analysis

FIGURE 7 Value chain analysis

FIGURE 8 Global Elevators and Escalators Market SHARE, By Type, 2020 (%)

FIGURE 9 Global Elevators and Escalators Market, By Type, 2020-2027 (USD MILLION)

FIGURE 10 Global Elevators and Escalators Market SHARE, By Elevator Technology, 2020 (%)

FIGURE 11 Global Elevators and Escalators Market, By Elevator Technology, 2020-2027 (USD MILLION)

FIGURE 12 Global Elevators and Escalators Market SHARE, By Services, 2020 (%)

FIGURE 13 Global Elevators and Escalators Market, By Services, 2020-2027 (USD MILLION)

FIGURE 14 Global Elevators and Escalators Market SHARE, By End User, 2020 (%)

FIGURE 15 Global Elevators and Escalators Market, By End User, 2020-2027 (USD MILLION

FIGURE 16 Global Elevators and Escalators Market SHARE (%), BY REGION, 2020

FIGURE 17 Global Elevators and Escalators Market, BY REGION, 2020-2027 (USD MILLION)

FIGURE 18 North America Elevators and Escalators Market SHARE (%), 2020

FIGURE 19 North America Elevators and Escalators Market BY Country, 2020-2027 (USD MILLION)

FIGURE 20 Europe Elevators and Escalators Market SHARE (%), 2020

FIGURE 21 Europe Elevators and Escalators Market BY Country, 2020-2027 (USD MILLION)

FIGURE 22 Asia Pacific Elevators and Escalators Market SHARE (%), 2020

FIGURE 23 Asia Pacific Elevators and Escalators Market BY Country, 2020-2027 (USD MILLION)

FIGURE 24 Rest of the World Elevators and Escalators Market SHARE (%), 2020

FIGURE 25 Rest of the World Elevators and Escalators Market BY Country, 2020-2027 (USD MILLION)