Lifts and Escalators Market - Forecast(2025 - 2031)

Lifts and Escalators Market Size is forecast to reach $ 1,73,682.9 Million by 2030, at a CAGR of 9.3% during forecast period 2024-2030.Elevators and escalators as nothing more than daily vehicles of transportation, it is actually a sophisticated piece of machinery which is made up of conveyor belts, handrails, controls, steel cars and much more. We use the elevators and escalators in various such as airport, hospitals, industries, hotels, malls & Retails and so on. This technology is one of the big revolution to the car parking services.

 

We segmented it more briefly by type, technology, components, services and the application of lift and escalator. On the basis of type it is segmented in to three main segmentation such as elevators, escalators and moving walks, this all are briefly segmented in its own field as per the technology. Technology in lift and escalators are segmented with various type such as hydraulic elevators, geared and gearless traction elevators, machine-room-less (MRL) elevators and so on. lift is one of basic need of this rush and timeless life.

 

Lifts and escalators is used to raised or move people or goods from one place to another place within in a building. Elevators are generally powered by electric motors, either drive by traction cables or counter weight system like hoist. Hydraulic technology of elevators use the principles of hydraulics. There are many technologies in which elevators and escalators work on.

What are the applications of Lifts and Escalators?

 

 

 

• New generation electric elevators is becoming preferred choice among the construction companies because of its energy efficiencies. The electrical lifts can carry much more weight compared to hydraulic elevators. So the ratio of installing electric elevators is increasing every day.
• After various implementation and changes in escalators, there is nothing much left to give it a change. So now they added a device escalator handrails to remove the germs from human hands. This handrail UV sanitizer removes 99.99% of germs when it comes to contact with handrails. No extra power is required to run this device.
• ThyssenKrupp’s and TeleRetail partnered company is introducing robots, which would maintenance the elevators and escalators with driver less technology and saving money & time.

 

The major players in this market are Hyundai Elevator Co., Ltd., Schindler Group, Mitsubishi Electric Corporation and 20 other companies.

 

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.

 

All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

 

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
• Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
• Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes. 
• Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market. 

Key Market Players:

The Top 5 companies in the LIFTS AND ESCALATORS MARKET are:
1 Kone Corporation
2. Schindler Group
3. Hitachi Global
4 Toshiba Elevator and Building Systems Corporation
5 HYUNDAI ELEVATOR