MarkNtel Advisors has just published a new research report titled "Elevator and Escalator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". This study provides an extensive analysis of market drivers, segmentation, growth opportunities, trends, and competitive landscape, aiming to provide insights into current and future market scenarios.
What insights and analysis does the report provide on the Elevator and Escalator market from 2024 to 2030?
The Global Elevator and Escalator Market size was valued at around USD 125.5 billion in 2023 & is estimated to grow at a CAGR of around 7.8% during the forecast period, i.e., 2024-30.
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Elevator and Escalator Market by Segments
By Type
- Elevator
- Traction- Market Size & Forecast 2019-2030, (Thousand Units)
- Hydraulic- Market Size & Forecast 2019-2030, (Thousand Units)
- Machine Room Less- Market Size & Forecast 2019-2030, (Thousand Units)
- Escalator
- Moving Walkway- Market Size & Forecast 2019-2030, (Thousand Units)
- Moving Stairs- Market Size & Forecast 2019-2030, (Thousand Units)
By Service
- New Installation- Market Size & Forecast 2019-2030, (Thousand Units)
- Modernization- Market Size & Forecast 2019-2030, (USD Million)
- Maintenance- Market Size & Forecast 2019-2030, (USD Million)
By Application
- Residential- Market Size & Forecast 2019-2030, (Thousand Units)
- Commercial- Market Size & Forecast 2019-2030, (Thousand Units)
- Industrial- Market Size & Forecast 2019-2030, (Thousand Units)
A comprehensive report on the Elevator and Escalator Market is available now- https://www.marknteladvisors.com/research-library/elevator-and-escalator-market.html
Elevator and Escalator Market Report Segment by Regions
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
What are the current trends in the global Elevator and Escalator Market?
Growing Demand for IoT-Integrated Elevators & Escalators – With the advent of advanced technologies such as the Internet of Things (IoT) and its integration into elevators & escalators, manufacturers have maximized their revenues in the past few years. The integration has led to the smooth functioning of these setups in terms of gathering, analyzing, and exchanging data and maintaining entry and exit-related records. Other than this, the IoT has enabled elevators and escalators to anticipate traffic and respond in real time with minimal error. These advantages have compelled investors and manufacturers to integrate such products with cutting-edge technologies, which, in turn, is augmenting the market size & volume. For instance,
- In 2022, Hyundai Elevator Co. and LG Uplus Corp., a major wireless carrier, collaborated to manufacture smart safety management systems, including IoT sensor safety rings, belts, and hats, and exclusive applications for elevator installers and control platforms.
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Who are the key players in the Elevator and Escalator Market?
- Fujitec Co. Ltd.
- Hitachi Elevator Engineering Company
- KONE
- Canny Elevator Company Ltd.
- Toshiba Elevator and Building Systems Corporation
- Hyundai Elevator Co., Ltd.
- Mitsubishi Electric Corporation
- ORONA
- Otis Worldwide Corporation
- Schindler Holding Ltd.
- ThyssenKrupp Elevator AG
- SJEC Corp.
- Walton Group
- Sigma Elevators
- Electra Elevators
Questions Addressed in this Study
- What factors are driving the Elevator and Escalator Market growth?
- How is the Elevator and Escalator Market expected to grow over the next five years?
- What are the key insights into the current trends in the Elevator and Escalator Market?
- What is the current size of the Elevator and Escalator Market, and how is it projected to change in the future?
- What is the future outlook for the Elevator and Escalator Market in terms of technological advancements and market expansion?
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Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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