The elevator and escalator market is set to grow by 142.05 thousand units, progressing at a CAGR of almost 3% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Factors such as increasing demand for smart elevators, the growing number of construction activities, and growing investment in smart cities will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The elevator and escalator market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
Elevator and Escalator Market 2021-2025: Scope
Base Year Considered
By Product, End-user, and Geography
APAC, Europe, MEA, North America, South America
Fuji Electric Co. Ltd., Fujitec Co. Ltd., Hitachi Ltd., KÖHLER Elevator GmbH, KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Schindler Holding Ltd., thyssenkrupp Elevator AG, and Toshiba International Corp.
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Elevator and Escalator Market 2021-2025: Segmentation
Elevator and Escalator Market is segmented as below:
The elevator market segment was the largest revenue-generating product segment of the market. This growth can be attributed to the increasing demand for smart elevators in skyscraper projects. In addition, growing construction activities in emerging economies of APAC including India and China will lead the region to account for 85% of the overall growth during the forecast period.
However, the reluctance to modernize elevators and reduce their energy use will hamper the market growth. Backed with competitive intelligence and benchmarking, our research reports on the elevator and escalator market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
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