Elevator & Escalator Market to Surpass $ 100 Billion Milestone by 2024

Growing investments in construction and infrastructure projects, increasing number of high-rise buildings and rising consumer focus on modernization to fuel global elevator & escalator market through 2024

According to TechSci Research report, “Global Elevator & Escalator Market By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, By Region, Competition Forecast & Opportunities, 2014 – 2024’’, the global elevator & escalator market is projected to cross $ 100 billion by 2024, on account of growing demand for high speed and machine room less elevators. Improving after sales services, proactive maintenance & modernization of equipment and use of UltraRope elevator technology for high-rise buildings are expected to positively influence the global elevator & escalator market in the coming years. Moreover, growing competition with increasing number of partnerships and mergers & acquisitions is likely to fuel global elevator & escalator market, which is led by companies such as United Technologies Corporation, Schindler Holding Ltd. and KONE Corporation.  

Browse 77 market data Tables and 455 Figures spread through 414 Pages and an in-depth TOC on “ Global Elevator & Escalator Market “

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Global elevator & escalator market is dominated by elevators, as they are majorly used in the residential sector. In terms of service, maintenance and repair service segment accounts for the largest market share, owing to large installed base of elevators & escalators across the world. Asia-Pacific dominated the market in 2018 and is expected to maintain its market dominance during the forecast period, backed by the presence of major economies such as China, Japan, India and South Korea. Traction & Machine room less traction is the widely used elevator technology, globally, owing to its better safety features, low maintenance cost and high energy efficiency compared to other technologies.

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“Increasing Infrastructure developments across major developed as well as developing countries coupled with an increasing number of multi-storey commercial and residential buildings across the globe are boosting demand for elevators and escalators, globally. Moreover, growing construction activities, rising urbanization, technological advancements such as energy-saving regenerative drives, and strengthening after sales service have also been positively influencing the market. Continuance of such upward trend in infrastructure and construction activities across the globe is expected to drive the global elevator and escalator market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Elevator & Escalator Market By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, By Region, Competition Forecast & Opportunities, 2014 – 2024” has evaluated the future growth potential of global elevator & escalator market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global elevator & escalator market.

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