Elevators And Escalators Market Size, Share, Opportunities, And Trends By Technology (Hydraulic, Traction, Machine-Room-Less), By End User (Residential Sector, Commercial Sector, Industrial Sector), And Geography - Forecasts From 2025 To 2030

Elevators And Escalators Market is projected to grow at a CAGR of 7.88% between 2025 to 2030.

Elevators and Escalators provide speedy process and continence travelling around the building which is considered one of the reasons for their high adoption around the globe.

Rapid urbanization and increasing investment in the construction sector are other key factors augmenting the growth of the market. Rapid growing geriatric population and technological advancements in smart elevators and escalators will also fuel the market growth. However, high installation and maintenance cost remains a key challenge.

DRIVERS

Growing geriatric population

Increasing investment in the construction sector

RESTRAINTS

High installation and maintenance cost

INDUSTRY UPDATE

In May 2019, Telefónica and Schindler entered into a global partnership for digital connectivity. Under the agreement, Telefónica will provide IoT and network connectivity solutions to Schindler for smart elevators and escalators.

In March 2019, Mitsubishi Electric Corporation announced to launch Nexiez-Lite MRL in India.

Major industry players profiled as part of the report are Schindler Holding Ltd., Kone Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, and United Technologies among others.

Segmentation

The elevators and escalators market has been analyzed through the following segments:

By Technology

Hydraulic

Traction

Machine-Room-Less

By End User

Residential Sector

Commercial Sector

Industrial Sector

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Australia

Others