What is the Historic and Forecast Growth of the Escalators and Moving Walkways Market?
The market size of escalators and moving walkways has demonstrated strong growth in recent years, growing from $18.44 billion in 2024 to $19.44 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth during the historic period is attributed to urbanization, increase in commercial and public infrastructure projects, enhancement of passenger convenience and mobility, and intensive focus on safety and accessibility standards.
Furthermore, the escalators and moving walkways market is predicted to witness substantial growth, reaching $24.91 billion in 2029 at a CAGR of 6.4%. The projected growth can be accredited to the adoption of these systems in smart cities, modernization of existing transportation infrastructure, high-capacity and heavy-duty escalators, expansion of mass transit systems and metro networks, and the focus on touchless and hygienic escalator solutions.
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What are the Key Growth Drivers in the Escalators and Moving Walkways Market?
A roaring commercial real estate market worldwide is propelling the growth of the escalators and moving walkways market. Escalators and moving walkways are essential in commercial buildings for transporting people and goods. In 2021, a whopping $1.3 trillion was invested in commercial real estate globally, marking a 55% increase from 2020. This flourishing sector, with increasing investments in commercial real estate, is driving the market growth.
What are the Major Segments in the Escalators and Moving Walkways Market?
The escalators and moving walkways market covered in this report is segmented by:
1) Product: Escalators, Moving Walkways
2) Application: Public Transit, Airport, Retail, Institutional, Other Applications
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Which Companies are Dominating the Escalators and Moving Walkways Market?
Major companies in the escalators and moving walkways market include Kone Oyj, Otis Elevator Company, Schindler Group, Mitsubishi Electric Corporation, Fujitec Co. Ltd., ThyssenKrupp AG, Sigma Elevator Co Ltd., and others.
What are the Emerging Trends in the Escalators and Moving Walkways Market?
New product innovation is a key trend gaining popularity in the market. Companies are focusing on introducing new products to maintain their market position. For instance, Otis Elevator Sdn Bhd launched its digitally-connected Gen3™ elevator in August 2024. This product enhances the lift-riding experience through advanced connectivity features.
Which Region Dominates the Escalators and Moving Walkways Market?
North America was the largest region in the escalators and moving walkways market in 2024. The market report also covers Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Escalators and Moving Walkways Market Report 2025 Offer?
Escalators and moving walkways are moving staircases assisting in transporting passengers and freight up and down floors. They are predominantly used in public transport locations and malls. Moving walkways are primarily used to help travelers with luggage in airports. This report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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