Overview and Scope
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
Sizing and Forecast
The escalators and moving walkways market size has grown strongly in recent years. It will grow from <b>$17.58 billion in 2023 to $18.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. </b> 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 <b>$23.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. </b> 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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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the escalators and moving walkway market in 2023. 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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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the escalators and moving walkways market include <b> Kone Oyj, Оtіѕ Еlеvаtоr Соmраnу, 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., Beijing Beizhong Steam Turbine Generator Co. Ltd., Suzhou Ostar Elevator Co. Ltd., Sodimas, Pneumatic Vacuum Elevators LLC., Excel Elevator and Escalator Corp., Elevator Technology (Shenyang) Co. Ltd., Ferretti International LLC, Vintec Elevators Private Limited, Anlev Elex Elevator Co. Ltd., Sematic Group, Dupar Controls Inc. </b>
The escalators and moving walkways market report table of contents includes:
1. Executive Summary
2.Escalators and Moving Walkways Market Characteristics
3.Escalators and Moving Walkways Market Trends And Strategies
4.Escalators and Moving Walkways Market analysis
5.Escalators and Moving Walkways Market Size And Growth
6.Escalators and Moving Walkways Segmentation
7.Escalators and Moving Walkways Regional And Country Analysis
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27.Escalators and Moving Walkways Competitive Landscape And Company Profiles
28.Escalators and Moving Walkways Key Mergers And Acquisitions
29.Escalators and Moving Walkways Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Kone Oyj
- Оtіѕ Еlеvаtоr Соmраnу
- Schindler Group
- Mitsubishi Electric Corporation,
- Fujitec Co. Ltd.
- ThyssenKrupp AG
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