The Escalators and Moving Walkways Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Escalators and Moving Walkways Global Market Report 2024, The escalators and moving walkways market size has grown strongly in recent years. It will grow from $17.58 billion in 2023 to $18.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. 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 $23.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. 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.
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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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
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 May 2021, KONE Corporation, a Finland-based international engineering, and service company, launched a new elevator model, KONE DX class elevators, that work on a unique digital platform and secure APIs to connect elevators with smartphones, which makes users more convenient. This DX class elevator offers future-ready inbuilt digital solutions that help to take care of various digital solutions and service needs of the elevator throughout its entire life cycle. That helps to enhance the value of the building. Also, this had an extra feature of DX, music, which is a part of the elevator ride to set just the right mood.
Top Major Players
Kone Oyj,
Schindler Group,
Mitsubishi Electric Corporation,
Fujitec Co. Ltd.,
ThyssenKrupp AG
The escalators and moving walkways market report table of contents includes:
1. Executive Summary
- Escalators and Moving Walkways Market Characteristics
- Escalators and Moving Walkways Market Trends And Strategies
- Escalators and Moving Walkways Market – Macro Economic Scenario
- Global Escalators and Moving Walkways Market Size and Growth
- Escalators and Moving Walkways Market Segmentation
- Escalators and Moving Walkways Market Regional And Country Analysis
………..
- Key Mergers And Acquisitions In The Escalators and Moving Walkways Market
- Escalators and Moving Walkways Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Escalators and Moving Walkways Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Escalators and Moving Walkways Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Escalators and Moving Walkways Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 51: Kone Oyj Financial Performance
Table 52: ?t?? ?l?v?t?r ??m??n? Financial Performance
Table 53: Schindler Group Financial Performance
Table 54: Mitsubishi Electric Corporation Financial Performance
Table 55: Fujitec Co. Ltd. Financial Performance
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