How Has the Escalators and Moving Walkways Market Size Evolved in Recent Years?
The escalators and moving walkways market has seen considerable growth due to a variety of factors.
• The market size for escalators and moving walkways has seen robust growth recently. The figures are projected to rise from $18.44 billion in 2024 to $19.44 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%.
Factors attributing to its growth during the historic period include the rise of urbanization and densification of populations in urban areas, an upswing in commercial and public infrastructure projects, expansion of facilities such as airports, shopping centers and transportation hubs, concentrated efforts to improve passenger comfort and mobility, as well as an increased emphasis on safety and accessibility standards.
What are the Market Size and Expected Growth Rates for the Escalators and Moving Walkways Market?
The escalators and moving walkways market is expected to maintain its strong growth trajectory in upcoming years.
• In the subsequent few years, a robust growth is anticipated in the escalators and moving walkways market. The market size is forecasted to extend to $24.91 billion in 2029, with a compound annual growth rate (CAGR) of 6.4%.
The upcoming growth can be credited to factors such as the deployment of escalators and moving walkways in smart cities, the modernization and overhaul of existing transport infrastructure, the rising need for high-capacity and heavy-duty escalators, an expanded mass transit systems and metro networks, and a concentrated focus on touchless and sanitized escalator solutions. Notable future trends are likely to be the incorporation of internet of things and smart connectivity, energy-saving and regenerative drive systems, design innovation for enhanced integrations and aesthetics, UV-C and touchless disinfection solutions, utilisation of advanced material for improved durability, and remote surveillance along with predictive maintenance.
Which Key Drivers Are Propelling The Escalators and Moving Walkways Market's Growth?
The global escalators and moving walkways market is set to surge, spurred on by the booming worldwide commercial real estate market. Commercial real estate encompasses large residential properties and businesses, and escalators along with moving walkways are common installations, transporting people and goods between floors. CBRE Group Inc., a commercial real estate service and investment firm based in the U.S., highlighted a record-breaking USD 1.3 trillion invested in the global commercial real estate market in 2021. This represents a 55% increase from 2020. Furthermore, in America, the yearly investment volume shot up by 83% in 2021, reaching over USD 775 billion. Given the thriving global commercial real estate industry and escalating investment levels, the escalator and moving walkway market is set for significant growth.
What Are The Key Segments Within The Global Escalators and Moving Walkways Market?
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
Subsegments:
1) By Escalators: Commercial Escalators, Residential Escalators, Industrial Escalators
2) By Moving Walkways: Horizontal Moving Walkways, Inclined Moving Walkways
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How Are New Trends Impacting The Size Of The Escalators and Moving Walkways Market?
The burgeoning trend in the escalators and moving walkways market is new product innovation. Major firms in this sector concentrate on presenting fresh products in order to maintain a competitive edge. For example, Otis Elevator Sdn Bhd, a Malaysia-based Transport company, launched its innovative Gen3™ digitally-connected elevator in August 2024, improving the elevator journey with advanced connectivity features. The Gen3 elevator is fully integrated to the Otis ONE IoT digital platform, enabling real-time tracking of equipment health and performance, which helps foresee maintenance requirements and reduces operational interruptions. Designed to cater a wide spectrum of building types such as residential, commercial, and medical, the Gen3 is available in both machine room and machine-roomless models. It boasts key features like the Otis eView display for infotainment, Compass 360 technology promising improved travel efficiency, and eco-friendly additions such as LED lighting and regenerative drives.
Who Are the Key Players in the Escalators and Moving Walkways Market?
Major companies operating in the escalators and moving walkways market include:
• Kone Oyj
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• 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.
• Suzhou Ostar Elevator Co. Ltd.
• Sodimas
• Excel Elevator and Escalator Corp.
• Elevator Technology (Shenyang) Co. Ltd.
• Vintec Elevators Private Limited
• Anlev Elex Elevator Co. Ltd.
• Sematic Group
What are the Regional Insights into the Escalators and Moving Walkways Market?
North America was the largest region in the escalators and moving walkway market in 2024. 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.
