Market Excerpt

The global escalators & moving walkways market was valued at US$ 14.96 Bn in 2017 and expected to expand at a CAGR of 4.3% during the forecast period from 2018 to 2026. Rapid urbanization and resultant increase in the number of commercial establishments, airports, and public transportation infrastructure is identified as one of the prominent factors driving new installation of escalators & moving walkways worldwide. Increase in the number of gigantic commercial spaces coupled with growing aging population has triggered demand for convenient vertical and horizontal mode of transportation at these establishments. Since escalators and moving walkways offer convenient way to commute between floors of a multi-storey structure and reduce waiting time of customers, their adoption has significantly increased across commercial establishments, public transportation facilities, and educational institutes among others. High cost and technical complexities involved in installation, upgrade, and maintenance remain major challenges to the market growth.

Escalators to Dominate; Moving Walkways to Witness Strong Adoption

Based on product type, the global escalators & moving walkways market is categorized in to two major categories, namely: escalators and moving walkways. Escalators are further categorized into step type escalators, wheel-chair accessible escalators and other escalator types (levytator, spiral escalator, etc.). In terms of value contribution, escalators led the global escalators and moving walkways market in 2017. Their value contribution to the global escalators and moving walkways market stood at over 78% in the same year. Amongst escalator type, step type escalators held the largest value share in 2017 and will dominate throughout the forecast period. These escalators are usually preferred since they are safer than other variants. Moving walkways commonly find application at international airports. With the perpetual growth in air passenger traffic and several upcoming international airport projects, especially in the emerging economies, the demand for moving walkways is bound to witness strong growth during the forecast period from 2018 to 2026.

North America to Dominate; Asia Pacific to Experience Fastest Growth

In 2017, North America & Europe were the two major escalators & moving walkways market followed by Asia Pacific. North America & Europe collectively accounted for over two-third of the global market value in the same year. Factors including stringent energy efficiency mandates, large base of old age population, and greater penetration and acceptance to state-of the-art technologies bodes well for the market growth in developed economies such as North America and Europe. Furthermore, upgrading of aging escalators and rising popularity of horizontal transportation systems are further expected to support market demand in these regions. Asia Pacific is poised to register maximum growth during the forecast period from 2018 to 2026. The expected growth in the region will be driven by rapid urbanization, flourishing commercial real estate, and willingness shown by the governments to develop smart infrastructure.

Commercial Segment to Dominate; Airports to Witness Maximum Adoption

In 2017, commercial segment was the largest value contributor to the global escalators and moving walkways market. The commercial segment covers escalators and moving walkways used in shopping malls, corporate buildings, supermarkets, hypermarkets, theatres, and hotels among others. Economic development resulting in increased number of commercial spaces is one of the prominent factors driving demand for escalators and moving walkways in the commercial segment. The value contribution from the commercial segment will also be driven by modernization and regular maintenance of existing units. With number of air passengers continuing to rise at an unparalleled level, airport authorities across the globe are forced to deploy intelligent and smart automated solutions for improving passenger flow at airports without compromising safety and security.

Key companies profiled in the research study include Otis Elevator Company, Fujitec, KONE Corporation, Schindler, Sigma Elevator Company, Thyssenkrupp AG, Mitsubishi Electric Corporation, Hitachi Ltd., Toshiba Corporation, Hyundai Elevator Company, Stannah, Kleemann Hellas SA, Sicher Elevator Co., Ltd., Stein Ltd, and Gulf Elevator & Escalator Co. Ltd. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Escalators & Moving Walkways market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Escalators & Moving Walkways market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Escalators & Moving Walkways market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2033.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Escalators & Moving Walkways market?
• Which is the largest regional market for Escalators & Moving Walkways market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Escalators & Moving Walkways market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Escalators & Moving Walkways market worldwide?