Elevator & Escalator Market 2024: Latest Trends, Growth, Size, Demand, and Forecasts to 2032
Delve into the elevator and escalator market, covering the latest trends, industry size, growth patterns, demand, and forecasts for the coming years until 2032.
Explore the Latest Insights in the Elevator & Escalator Market!
A new report from Fortune Business Insights™ titled Elevator & Escalator Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032 provides a comprehensive analysis of the Elevator & Escalator Market landscape. This report includes competitor and regional analyses, along with the latest advancements in the market.
Inside, you’ll find a detailed table of contents, figures, tables, and charts, complemented by insightful commentary. The Elevator & Escalator Market sector has seen remarkable growth recently, driven by increasing product demand, a growing customer base, and technological innovations. This report thoroughly examines the Elevator & Escalator Market, covering market size, trends, key drivers and constraints, competitive dynamics, and future growth prospects. Our goal is to delve deep into the industry to understand its dynamics and economic potential.
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Market Summary:
The “Elevator & Escalator Market Research Report Overview by 2024” market size is reached USD 88.59 billion by 2023 and it is expected to reach USD 167.62 billion by 2032 between the forecast period and expected Compound annual growth rate of 7.5% between the forcast period by (2023-2032).
The Elevator & Escalator Market has experienced significant growth, supported by various factors like rising product demand, an expanding customer base, and technological advancements. This report delivers an in-depth analysis of the market, including insights on market size, trends, key drivers and challenges, competitive dynamics, and future growth opportunities.
Top Companies in the Elevator & Escalator Market:
Here are some leading manufacturers in the sector:
- Fujitec Co. Ltd (Japan)
- Hitachi Ltd (Japan)
- Hyundai Elevator Co Ltd (South Korea)
- Kone Corporation (Finland)
- Mitsubishi Electric Corporation (Japan)
- Otis Worldwide Corporation (U.S.)
- Schindler (Switzerland)
- SJEC Corporation (China)
- TK Elevator GmbH (Germany)
- Toshiba Corporation (Japan)
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Segmentation:
Elevator and Escalator Market Size, Share & Industry Analysis by Product (Elevators, Escalators, and Moving Walkways), By Business (New Equipment, Maintenance, and Modernization), By Application (Residential, Commercial, and Industrial), and Regional Forecast, 2024-2032
Market Coverage:
- Market Trends
- Market Segmentation by Segment
- Market Segmentation by Region
- Price Analysis
- Impact of COVID-19
- Market Forecast
This report provides insights into the market landscape, broken down by sub-regions and countries. It highlights potential profit opportunities alongside market share and growth rates for each region.
Regional Analysis:
- North America (By Product, By Business, By Application, and By Country)
- U.S. (By Product)
- Canada (By Product)
- Europe (By Product, By Business, By Application, and By Country)
- Germany (By Product)
- U.K. (By Product)
- France (By Product)
- Italy (By Product)
- Turkey (By Product)
- Rest of Europe
- Asia Pacific (By Product, By Business, By Application, and By Country)
- China (By Product)
- India (By Product)
- Japan (By Product)
- South Korea (By Product)
- Southeast Asia (By Product)
- Rest of Asia Pacific
- Middle East & Africa (By Product, By Business, By Application, and By Country)
- GCC (By Product)
- South Africa (By Product)
- Rest of the Middle East & Africa
- Latin America (By Product, By Business, By Application, and By Country)
- Brazil (By Product)
- Mexico (By Product)
- Rest of Latin America
Report Highlights:
- Key growth drivers and challenges for the market.
- Comprehensive overview of regional developments.
- List of major industry players.
- Strategies adopted by key market players.
- Recent developments, including product launches and mergers.
The report also discusses limiting factors and the regional industrial presence that may impact market growth trends beyond 2032. Our market research aims to provide a thorough understanding of the industry’s potential and equip companies with the insights they need to make informed decisions. The Elevator & Escalator Market Report spans over 100+ pages and includes a detailed table of contents, figures, tables, graphs, and extensive analysis.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Industry Developments (Mergers, Acquisitions, Partnerships)
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
Industry Developments:
-
- Otis Worldwide Corporation received an order for the modernization of 34 elevators in Burj Khalifa based in the U.A.E. The Burj Khalifa is the world’s tallest building. The company got a maintenance and modernization contract for ten years.
- TK Elevator GmbH launched the new EXO Renew Series of elevators for low-rise and high-rise residential buildings. It is versatile, designed for using 100% green electricity and requires 28% less energy compared to other models.
- Fujitec India Private Ltd, a subsidiary of Fujitech Co. Ltd, received an order of 538 elevators for large-scale residential housing projects in Gurgaon, India. These elevators would be manufactured and supplied from a high-rise elevator manufacturing facility based in Chennai, India. This order would be completed by the end of 2025.
- Schindler signed a partnership with Umm AI Qura, based in Saudi Arabia, to provide 150 elevator orders for installation at Makkah, Saudi Arabia. This order includes 65 Schindler 5000 series elevators, 44 Schindler 7000 series elevators, and five elevators for the platform. These elevators help to improve passenger transportation from restaurants and hotels.
- Hitachi Ltd introduced a new touchless operating panel for monitoring and controlling elevators and escalators. It has features such as enabling touchless use, a simplified method, and operating through a numerical pad.
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