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Elevators and Escalators-Global Market Insights and Sales Trends 2025
Synopsis
An Elevator, also called Lift in British English, is a type of transport equipment that efficiently carries passengers or freight between the levels of multistory building. Most modern elevators are propelled by electric motors, with the aid of a counterweight, through a system of cables and sheaves (pulleys). By opening the way to higher buildings, the elevator played a decisive role in creating the characteristic urban geography of many modern cities, especially in the United States, and promises to fill an indispensable role in future city development.
In generally, elevators include the escalators and the moving walkways. An escalator is a moving staircase used as transportation between floors or levels in subways, buildings, and other mass pedestrian areas. A moving walkway or moving sidewalk, travelator, is a slow moving conveyor mechanism that transports passengers across a horizontal or inclined plane over a short to medium distance. The different between the escalator and the moving walkway is the former has stairs and the latter is a flat or slant apron without stairs.
The global Elevators and Escalators market size is expected to reach US$ 44910 million by 2029, growing at a CAGR of 3.5% from 2023 to 2029. The market is mainly driven by the significant applications of Elevators and Escalators in various end use industries. The expanding demands from the Residential, Commercial and Industrial,, are propelling Elevators and Escalators market. Elevators, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Escalators segment is estimated at % CAGR for the next seven-year period.
According to data released by the National Bureau of Statistics, China's elevator production in 2022 was 1.455 million units, which was down 5.8% compared to last year. After years of development, China has become the world's largest elevator producer and consumer. More than 70% of the world's elevator manufacturing business were in Chinese mainland, and 60%-65% of the world's elevators sold in the Chinese market. According to data from the China Elevator Association, by the end of 2022, the number of elevators registered in operation in China has reached 9.65 million, and more than 15,000 elevators have been installed after acceptance.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Elevators and Escalators, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Elevators and Escalators market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Elevators and Escalators market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Elevators and Escalators sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Elevators and Escalators covered in this report include Kone Corporation, Otis Elevator Company, Thyssenkrupp AG, Schindler Group, Hitachi, Ltd., Fujitec, Toshiba Elevators and Building Systems Corporation, Mitsubishi Electric Corporation and SJEC Corporation, etc.
The global Elevators and Escalators market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Kone Corporation
Otis Elevator Company
Thyssenkrupp AG
Schindler Group
Hitachi, Ltd.
Fujitec
Toshiba Elevators and Building Systems Corporation
Mitsubishi Electric Corporation
SJEC Corporation
Hyundai Elevator
Kleeman Hellas SA
Canny Elevator
Global Elevators and Escalators market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Elevators and Escalators market, Segment by Type:
Elevators
Escalators
Global Elevators and Escalators market, by Application
Residential
Commercial
Industrial
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Elevators and Escalators manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Elevators and Escalators in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
An Elevator, also called Lift in British English, is a type of transport equipment that efficiently carries passengers or freight between the levels of multistory building. Most modern elevators are propelled by electric motors, with the aid of a counterweight, through a system of cables and sheaves (pulleys). By opening the way to higher buildings, the elevator played a decisive role in creating the characteristic urban geography of many modern cities, especially in the United States, and promises to fill an indispensable role in future city development.
In generally, elevators include the escalators and the moving walkways. An escalator is a moving staircase used as transportation between floors or levels in subways, buildings, and other mass pedestrian areas. A moving walkway or moving sidewalk, travelator, is a slow moving conveyor mechanism that transports passengers across a horizontal or inclined plane over a short to medium distance. The different between the escalator and the moving walkway is the former has stairs and the latter is a flat or slant apron without stairs.
The global Elevators and Escalators market size is expected to reach US$ 44910 million by 2029, growing at a CAGR of 3.5% from 2023 to 2029. The market is mainly driven by the significant applications of Elevators and Escalators in various end use industries. The expanding demands from the Residential, Commercial and Industrial,, are propelling Elevators and Escalators market. Elevators, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Escalators segment is estimated at % CAGR for the next seven-year period.
According to data released by the National Bureau of Statistics, China's elevator production in 2022 was 1.455 million units, which was down 5.8% compared to last year. After years of development, China has become the world's largest elevator producer and consumer. More than 70% of the world's elevator manufacturing business were in Chinese mainland, and 60%-65% of the world's elevators sold in the Chinese market. According to data from the China Elevator Association, by the end of 2022, the number of elevators registered in operation in China has reached 9.65 million, and more than 15,000 elevators have been installed after acceptance.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Elevators and Escalators, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Elevators and Escalators market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Elevators and Escalators market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Elevators and Escalators sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Elevators and Escalators covered in this report include Kone Corporation, Otis Elevator Company, Thyssenkrupp AG, Schindler Group, Hitachi, Ltd., Fujitec, Toshiba Elevators and Building Systems Corporation, Mitsubishi Electric Corporation and SJEC Corporation, etc.
The global Elevators and Escalators market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Kone Corporation
Otis Elevator Company
Thyssenkrupp AG
Schindler Group
Hitachi, Ltd.
Fujitec
Toshiba Elevators and Building Systems Corporation
Mitsubishi Electric Corporation
SJEC Corporation
Hyundai Elevator
Kleeman Hellas SA
Canny Elevator
Global Elevators and Escalators market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Elevators and Escalators market, Segment by Type:
Elevators
Escalators
Global Elevators and Escalators market, by Application
Residential
Commercial
Industrial
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Elevators and Escalators manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Elevators and Escalators in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Elevators and Escalators Market Overview
1.1 Elevators and Escalators Product Overview
1.2 Elevators and Escalators Market Segment by Type
1.2.1 Elevators
1.2.2 Escalators
1.3 Global Elevators and Escalators Market Size by Type
1.3.1 Global Elevators and Escalators Market Size Overview by Type (2018-2029)
1.3.2 Global Elevators and Escalators Historic Market Size Review by Type (2018-2023)
1.3.3 Global Elevators and Escalators Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Elevators and Escalators Sales Breakdown by Type (2018-2023)
1.4.2 Europe Elevators and Escalators Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Elevators and Escalators Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Elevators and Escalators Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Elevators and Escalators Sales Breakdown by Type (2018-2023)
2 Global Elevators and Escalators Market Competition by Company
2.1 Global Top Players by Elevators and Escalators Sales (2018-2023)
2.2 Global Top Players by Elevators and Escalators Revenue (2018-2023)
2.3 Global Top Players by Elevators and Escalators Price (2018-2023)
2.4 Global Top Manufacturers Elevators and Escalators Manufacturing Base Distribution, Sales Area, Product Type
2.5 Elevators and Escalators Market Competitive Situation and Trends
2.5.1 Elevators and Escalators Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Elevators and Escalators Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Elevators and Escalators as of 2022)
2.7 Date of Key Manufacturers Enter into Elevators and Escalators Market
2.8 Key Manufacturers Elevators and Escalators Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Elevators and Escalators Status and Outlook by Region
3.1 Global Elevators and Escalators Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Elevators and Escalators Historic Market Size by Region
3.2.1 Global Elevators and Escalators Sales in Volume by Region (2018-2023)
3.2.2 Global Elevators and Escalators Sales in Value by Region (2018-2023)
3.2.3 Global Elevators and Escalators Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Elevators and Escalators Forecasted Market Size by Region
3.3.1 Global Elevators and Escalators Sales in Volume by Region (2024-2029)
3.3.2 Global Elevators and Escalators Sales in Value by Region (2024-2029)
3.3.3 Global Elevators and Escalators Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Elevators and Escalators by Application
4.1 Elevators and Escalators Market Segment by Application
4.1.1 Residential
4.1.2 Commercial
4.1.3 Industrial
4.2 Global Elevators and Escalators Market Size by Application
4.2.1 Global Elevators and Escalators Market Size Overview by Application (2018-2029)
4.2.2 Global Elevators and Escalators Historic Market Size Review by Application (2018-2023)
4.2.3 Global Elevators and Escalators Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Elevators and Escalators Sales Breakdown by Application (2018-2023)
4.3.2 Europe Elevators and Escalators Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Elevators and Escalators Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Elevators and Escalators Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Elevators and Escalators Sales Breakdown by Application (2018-2023)
5 North America Elevators and Escalators by Country
5.1 North America Elevators and Escalators Historic Market Size by Country
5.1.1 North America Elevators and Escalators Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Elevators and Escalators Sales in Volume by Country (2018-2023)
5.1.3 North America Elevators and Escalators Sales in Value by Country (2018-2023)
5.2 North America Elevators and Escalators Forecasted Market Size by Country
5.2.1 North America Elevators and Escalators Sales in Volume by Country (2024-2029)
5.2.2 North America Elevators and Escalators Sales in Value by Country (2024-2029)
6 Europe Elevators and Escalators by Country
6.1 Europe Elevators and Escalators Historic Market Size by Country
6.1.1 Europe Elevators and Escalators Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Elevators and Escalators Sales in Volume by Country (2018-2023)
6.1.3 Europe Elevators and Escalators Sales in Value by Country (2018-2023)
6.2 Europe Elevators and Escalators Forecasted Market Size by Country
6.2.1 Europe Elevators and Escalators Sales in Volume by Country (2024-2029)
6.2.2 Europe Elevators and Escalators Sales in Value by Country (2024-2029)
7 Asia-Pacific Elevators and Escalators by Region
7.1 Asia-Pacific Elevators and Escalators Historic Market Size by Region
7.1.1 Asia-Pacific Elevators and Escalators Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Elevators and Escalators Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Elevators and Escalators Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Elevators and Escalators Forecasted Market Size by Region
7.2.1 Asia-Pacific Elevators and Escalators Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Elevators and Escalators Sales in Value by Region (2024-2029)
8 Latin America Elevators and Escalators by Country
8.1 Latin America Elevators and Escalators Historic Market Size by Country
8.1.1 Latin America Elevators and Escalators Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Elevators and Escalators Sales in Volume by Country (2018-2023)
8.1.3 Latin America Elevators and Escalators Sales in Value by Country (2018-2023)
8.2 Latin America Elevators and Escalators Forecasted Market Size by Country
8.2.1 Latin America Elevators and Escalators Sales in Volume by Country (2024-2029)
8.2.2 Latin America Elevators and Escalators Sales in Value by Country (2024-2029)
9 Middle East and Africa Elevators and Escalators by Country
9.1 Middle East and Africa Elevators and Escalators Historic Market Size by Country
9.1.1 Middle East and Africa Elevators and Escalators Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Elevators and Escalators Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Elevators and Escalators Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Elevators and Escalators Forecasted Market Size by Country
9.2.1 Middle East and Africa Elevators and Escalators Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Elevators and Escalators Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Kone Corporation
10.1.1 Kone Corporation Company Information
10.1.2 Kone Corporation Introduction and Business Overview
10.1.3 Kone Corporation Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Kone Corporation Elevators and Escalators Products Offered
10.1.5 Kone Corporation Recent Development
10.2 Otis Elevator Company
10.2.1 Otis Elevator Company Company Information
10.2.2 Otis Elevator Company Introduction and Business Overview
10.2.3 Otis Elevator Company Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Otis Elevator Company Elevators and Escalators Products Offered
10.2.5 Otis Elevator Company Recent Development
10.3 Thyssenkrupp AG
10.3.1 Thyssenkrupp AG Company Information
10.3.2 Thyssenkrupp AG Introduction and Business Overview
10.3.3 Thyssenkrupp AG Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Thyssenkrupp AG Elevators and Escalators Products Offered
10.3.5 Thyssenkrupp AG Recent Development
10.4 Schindler Group
10.4.1 Schindler Group Company Information
10.4.2 Schindler Group Introduction and Business Overview
10.4.3 Schindler Group Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Schindler Group Elevators and Escalators Products Offered
10.4.5 Schindler Group Recent Development
10.5 Hitachi, Ltd.
10.5.1 Hitachi, Ltd. Company Information
10.5.2 Hitachi, Ltd. Introduction and Business Overview
10.5.3 Hitachi, Ltd. Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Hitachi, Ltd. Elevators and Escalators Products Offered
10.5.5 Hitachi, Ltd. Recent Development
10.6 Fujitec
10.6.1 Fujitec Company Information
10.6.2 Fujitec Introduction and Business Overview
10.6.3 Fujitec Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Fujitec Elevators and Escalators Products Offered
10.6.5 Fujitec Recent Development
10.7 Toshiba Elevators and Building Systems Corporation
10.7.1 Toshiba Elevators and Building Systems Corporation Company Information
10.7.2 Toshiba Elevators and Building Systems Corporation Introduction and Business Overview
10.7.3 Toshiba Elevators and Building Systems Corporation Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Toshiba Elevators and Building Systems Corporation Elevators and Escalators Products Offered
10.7.5 Toshiba Elevators and Building Systems Corporation Recent Development
10.8 Mitsubishi Electric Corporation
10.8.1 Mitsubishi Electric Corporation Company Information
10.8.2 Mitsubishi Electric Corporation Introduction and Business Overview
10.8.3 Mitsubishi Electric Corporation Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Mitsubishi Electric Corporation Elevators and Escalators Products Offered
10.8.5 Mitsubishi Electric Corporation Recent Development
10.9 SJEC Corporation
10.9.1 SJEC Corporation Company Information
10.9.2 SJEC Corporation Introduction and Business Overview
10.9.3 SJEC Corporation Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.9.4 SJEC Corporation Elevators and Escalators Products Offered
10.9.5 SJEC Corporation Recent Development
10.10 Hyundai Elevator
10.10.1 Hyundai Elevator Company Information
10.10.2 Hyundai Elevator Introduction and Business Overview
10.10.3 Hyundai Elevator Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Hyundai Elevator Elevators and Escalators Products Offered
10.10.5 Hyundai Elevator Recent Development
10.11 Kleeman Hellas SA
10.11.1 Kleeman Hellas SA Company Information
10.11.2 Kleeman Hellas SA Introduction and Business Overview
10.11.3 Kleeman Hellas SA Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Kleeman Hellas SA Elevators and Escalators Products Offered
10.11.5 Kleeman Hellas SA Recent Development
10.12 Canny Elevator
10.12.1 Canny Elevator Company Information
10.12.2 Canny Elevator Introduction and Business Overview
10.12.3 Canny Elevator Elevators and Escalators Sales, Revenue and Gross Margin (2018-2023)
10.12.4 Canny Elevator Elevators and Escalators Products Offered
10.12.5 Canny Elevator Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Elevators and Escalators Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Elevators and Escalators Industrial Chain Analysis
11.4 Elevators and Escalators Market Dynamics
11.4.1 Elevators and Escalators Industry Trends
11.4.2 Elevators and Escalators Market Drivers
11.4.3 Elevators and Escalators Market Challenges
11.4.4 Elevators and Escalators Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Elevators and Escalators Distributors
12.3 Elevators and Escalators Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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