The Business Research Company’s report on the Escalators and Moving Walkways Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the escalators and moving walkways market’s growth in recent years?
The flourishing commercial real estate market worldwide will propel the growth of the escalators and moving walkways market going forward. Commercial real estate refers to the construction of commercial activities, including companies and large residential properties. Escalators and moving walkways are used in commercial buildings to carry people and goods from one floor to the other. For instance, according to CBRE Group, Inc., a US-based commercial real estate services and investment company, in 2021, a record amount of USD 1.3 trillion was invested in commercial real estate globally, an increase of 55% from 2020. Also in America, the annual investment volume increased by 83% to over USD 775 billion in 2021. Therefore, flourishing commercial real estate worldwide with increasing investments in commercial real estate is driving the growth of the escalator and moving walkway markets.
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How does the future projection of the escalators and moving walkways market size compare to its historical growth?
The escalators and moving walkways market size has grown strongly in recent years. It will grow from $18.44 billion in 2024 to $19.44 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to urbanization and population density in urban centers, growth in commercial and public infrastructure projects, expansion of airports, malls, and transportation hubs, focus on enhancing passenger convenience and mobility, increased focus on safety and accessibility standards.
The escalators and moving walkways market size is expected to see strong growth in the next few years. It will grow to $24.91 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to adoption of escalators and moving walkways in smart cities, retrofitting and modernization of existing transportation infrastructure, demand for high-capacity and heavy-duty escalators, expansion of mass transit systems and metro networks, focus on touchless and hygienic escalator solutions. Major trends in the forecast period include integration of iot and smart connectivity, energy-efficient and regenerative drive systems, design innovation for improved aesthetics and integration, touchless and uv-c disinfection solutions, advanced materials for enhanced durability, remote monitoring and predictive maintenance.
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Which key players are shaping the future of the escalators and moving walkways market?
Major companies operating in the escalators and moving walkways market include Kone Oyj, ?t?? ?l?v?t?r ??m??n?, Schindler Group, Mitsubishi Electric Corporation, Fujitec Co. Ltd., ThyssenKrupp AG, Sigma Elevator Co. Ltd., Hyundai Elevator Co. Ltd., Toshiba Corporation, Hitachi Ltd., Canny Elevator Co. Ltd., Kleemann Hellas SA, Shanghai Mitsubishi Elevator Co. Ltd., Ningbo Xinda Group Co. Ltd., Guangdong Huasheng Electrical Appliances Co. Ltd., Sicher Elevator Co. Ltd., Shenyang Brilliant Elevator Co. Ltd., Hangzhou Xizi Elevator Co. Ltd., Suzhou Ostar Elevator Co. Ltd., Sodimas, Excel Elevator and Escalator Corp., Elevator Technology (Shenyang) Co. Ltd., Vintec Elevators Private Limited, Anlev Elex Elevator Co. Ltd., Sematic Group
What trends will propel the growth and evolution of the escalators and moving walkways market?
New product innovation is the key trend that is gaining popularity in the escalators and moving walkways market. Major companies operating in the escalators and moving walkways sector are focused on introducing new products to sustain their position in the market. For instance, in August 2024, Otis Elevator Sdn Bhd a Malaysia-based Transport company, has launched its Gen3™ digitally-connected elevator, enhancing the lift-riding experience through advanced connectivity features. The Gen3 elevator integrates with the Otis ONE IoT digital platform, allowing for real-time monitoring of equipment health and performance, which facilitates proactive maintenance and minimizes downtime. Designed for various building types—including residential, commercial, and medical—the Gen3 offers both machine room and machine-roomless options. Key features include the Otis eView display for infotainment, Compass 360 technology for optimized travel efficiency, and energy-saving elements like LED lighting and regenerative drives.
Which regions are expected to become dominant players in the escalators and moving walkways market?
North America was the largest region in the escalators and moving walkway market in 2024. The regions covered in the escalators and moving walkways market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the emerging key segments in the escalators and moving walkways market, and how are they evolving?
The escalators and moving walkways market covered in this report is segmented –
1) By Product: Escalators, Moving Walkways
2) By Application: Public Transit, Airport, Retail, Institutional, Other Applications
Subsegments:
1) By Escalators: Commercial Escalators, Residential Escalators, Industrial Escalators
2) By Moving Walkways: Horizontal Moving Walkways, Inclined Moving Walkways
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How is the escalators and moving walkways market defined?
Escalators and moving walkways refer to a moving staircase that carries people between floors of a building. This helps to carry passengers and freight up and down. These are commonly used in locations for public transport as well as malls. Moving walkways are mostly used in airports where they help travelers with luggage travel a great distance between several sub-terminals in the airport. It used as solutions for the uninterrupted flow of people throughout buildings
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