Rising demand for reducing energy consumption in buildings is a major factor driving elevator and escalator Elevator and Escalator Market revenue growth
Vancouver, Oct. 03, 2023 (GLOBE NEWSWIRE) — The global elevator and escalator market size was USD 143.40 Billion in 2022 and is expected to register a revenue CAGR of 6.5% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for green buildings and energy-efficient products is a major factor driving the market revenue growth. Smart vehicle transportation systems, such as automated parking garages and vertical conveyors for cars, require effective ways to move people between different levels. Elevators become important in such buildings to ensure easy access to various floors hence driving the market revenue growth. Elevators also make it possible for individuals to transport products from one floor to another quickly and easily, because they were designed to raise a lot of weight. People who have discomfort or difficulties walking, with the help of escalators can walk for longer distances in relative comfort which is also driving the market revenue growth.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2294
Rising demand for reducing energy consumption in buildings is another factor contributing to revenue growth of the market. Elevators represent 3%-7% of a building's energy consumption. Elevator manufacturers are manufacturing premium lifts that are particularly energy efficient for mid- and high-rise buildings that have enhanced controls, hardware, and other technologies that not only use less energy, but are also considerably more compact, efficient, and even produce electricity hence driving the market revenue growth. Energy-efficient elevators and escalators result in lower operating costs for building owners and operators, resulting in long-term financial savings.
However, high cost of installation and maintenance is a major factor that is restraining the market revenue growth. Electric escalators and lifts need specialized installation and maintenance, which is costly, especially for bigger buildings.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2294
Scope of Research
Report Details
Market size in 2022
USD 143.40 Billion
CAGR (2023–2032)
Revenue forecast to 2032
USD 267.92 Billion
Base year for estimation
Historical data
Forecast period
Quantitative units
Revenue in USD Billion and CAGR in % from 2023 to 2032
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Type, service, elevator technology, end-use, and region.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled
Schindler, Otis,  ThyssenKrupp AG, KONE Corporation, Hitachi, Ltd., EITA Elevator, Electra Elevators, HYUNDAIELEVATOR CO., LTD., Toshiba Elevators and Building Systems Corporation, Sigma Elevator Company.
Customization scope
10 hours of free customization and expert consultation
Major Companies and Competitive Landscape
The global elevator and escalator market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:
ThyssenKrupp AG.
KONE Corporation.
Hitachi, Ltd.
EITA Elevator.
Electra Elevators.
Hyundaielevator Co., Ltd.
Toshiba Elevators and Building Systems Corporation.
Sigma Elevator Company
Strategic Development
On 13 December 2020, L&T Technology Services Limited, a leading global pure-play engineering services company, announced that it has been selected as one of Schindler's key partners to provide innovative digital engineering capabilities. Schindler is a Swiss-based global leading provider of elevators, escalators, moving walks, and related services. L&T Technology Services provides product development, innovation, and engineering services and solutions to help Schindler speed its digitization and connection activities, according to the agreement.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2294
Some Key Highlights From the Report
The elevator segment accounted for largest revenue share in 2022. Elevators are becoming increasingly popular for use in one's home or office as the cost of equipment and installation falls. Elevator technological advancements make travel faster and more dependable, eliminating the need for passengers to worry about breakdowns. It also makes it possible for individuals to transport products from one floor to another quickly and easily. They are built to transport heavy loads with ease because they are designed to hold a lot of weight. Therefore, all these factors are driving revenue growth of this segment.
The new installation segment accounted for a significantly large revenue share in 2022. Older buildings without elevators can require new installations to enhance accessibility and modernize building which is a major factor driving revenue growth of this segment. Moreover, technological advancements, such as energy-efficient systems, smart controls, and improved safety features, are creating high demand from builders and property owners looking for modern solutions which as a result is also contributing to revenue growth of this segment.
The traction elevator segment accounted for a significantly large revenue share in 2022. Elevator with traction lifts is commonly utilized in buildings with more than 60 feet of travel, up to the world's most renowned skyscrapers, because of their smooth ride quality and ability to move at high speeds which is driving revenue growth of this segment. Moreover, rising demand for traction lifts since they are utilized in mid to high-rise structures such as business buildings, hotels, and condo/apartment complexes is also contributing to revenue growth of this segment.
The market in Asia Pacific accounted for largest revenue share in 2022. Rising construction of buildings equipped with smart vehicle transportation systems owing to growing urbanization is a major factor driving the market revenue growth in this region. Increasing populations in urban centers drive the construction of new residential, commercial, and mixed-use buildings, leading to higher demand for elevators and escalators. Innovations in elevator and escalator technology, including smart controls, energy-efficient systems, predictive maintenance, and touchless interfaces, can drive demand as building owners seek modern solutions which is another factor driving the market revenue growth in this region.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/elevator-and-escalator-market
For the purpose of this report, Emergen Research has segmented the global elevator and escalator market on the basis of type, service, elevator technology, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019–2032)
Moving Walkways
Service Outlook (Revenue, USD Billion; 2019–2032)
New Installation
Maintenance & Repair
Elevator Technology Outlook (Revenue, USD Billion; 2019–2032)
Traction Elevator
Machine Room Less Traction Elevator
End-Use Outlook (Revenue, USD Billion; 2019–2032)
Regional Outlook (Revenue, USD Billion, 2019–2032)
North America
Rest of Europe
Asia Pacific
South Korea
Rest of APAC
Latin America
Rest of LATAM
Middle East & Africa
Saudi Arabia
Rest of MEA
Curated Reports You Shouldn't Miss: Dive In Now!
Electric Vehicle (EV) Market, By Vehicle Type, By Range, By Price Range, By Battery Technology, By Charging Infrastructure, By Charging Infrastructure Type, By Infrastructure Provider, By Charging Speed, By Ownership Model, By Autonomous Capabilities, and By Region Forecast to 2032
Optical Waveguide Market By Type (Channel, Planar), By End-Use (Oil & Gas, Telecom & IT, Healthcare, Defense, Aerospace, BFSI, Others), By Propagation (Single, Multi), By Application, By Connectivity, By Material, By Refractive Index, By Region Forecasts to 2027
Quantum Cascade Laser Market By Fabrication Technology (Distributed Feedback, Fabry-Perot, Tunable External Cavities), By Packaging Type (HHL & VHL Package, C-Mount Package, To3 Package), By End-Use, and By Region, Forecasts to 2027
3D Printing Materials Market By Form (Powder, Filament, Liquid), By Product Type (Plastic, Metal, Ceramic), By End Users (Consumer electronics, Automotive, Medical, Industrial), By Application (Manufacturing, Prototyping), By Technology (FDM, SLS, SLA, DMLS) and Regions Forecasts to 2027
Wireless Audio Devices Market By Product (Wireless Headsets & Microphones, Sound Bars, Speaker systems), By Technology (Wi-Fi, Bluetooth, Airplay), By Application (Automotive, Consumer, Commercial), Forecasts to 2027
Ultraviolet Light Emitting Diode Market, By Technology (UV-A, UV-B, and UV-C), By Application, By End-Use, and By Region Forecast to 2030
Sensor Fusion Market, By Application (Smartphones, PCs/ Tablets, TV remote, and Others), By Technology (MEMS, Non-MEMS, and Others), By End-Use (Consumer Electronics, Automotive, and Others), and By Region Forecast To 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Elevator and Escalator Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-elevator-and-escalator-market

The billionaire investor watched rich friends build “really fancy houses," but "in practically every case, they make the person less happy, not happier."
WASHINGTON—A case that could punch holes in the federal tax code heads to the Supreme Court on Tuesday. The court will hear arguments in Moore v. U.S., which challenges a piece of the 2017 tax law that imposed a one-time levy on profits that companies had accumulated outside the U.S. But its implications could reach much further, providing the justices an opportunity to define what Congress can tax under the Constitution—and what it can’t. Charles and Kathleen Moore argue that when the law passed, they hadn’t realized income from their investment in an India-based company and thus couldn’t be taxed.
Can investors realistically time the market to maximize returns, especially over the long term? According to a recent study from Charles Schwab, perfect market timing is practically impossible. The firm’s research showed that most investors are better off investing as soon as possible using a buy-and-hold strategy rather than trying to predict short-term peaks and […] The post Forget About ‘Timing the Market’: Schwab Research Reveals the Optimal Way to Invest appeared first on SmartReads by Smar
An attack on an American warship and commercial vessels in the Red Sea on Sunday risks reigniting investor worries about a widening of the war between Israel and Hamas, potentially complicating the outlook for a rally that saw U.S. stocks crest a fresh closing high for the year last week. The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, while Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area. Quincy Krosby, chief global strategist at LPL Financial, said a widening conflict could push some investors to take profits on the recent rally in stocks.
I am in a quandary about how to invest $750,000 that’s in my 401(k). I'm 67 years old, retired and I have not started taking Social Security yet. What is the best way to preserve this money for the rest of my life that doesn't have high fees? -Terry As you know, the big challenge […] The post Ask an Advisor: I’m 67 with $750K in a 401(k). How Can I Preserve This Money for the Rest of My Life? appeared first on SmartReads by SmartAsset.
Tom Baker has written to all 160 Florida state lawmakers as well as 15 news organizations about condo owners dealing with huge insurance rate hikes.
The market rally is transforming into a broader advance, a bullish sign. Arm Holdings and D.R. Horton flashed buy signals Friday.
Broadcom CEO Hock Tan was unsparing in his expectations about remote work during a meeting with his new employees.
Imagine evenings spent on a sandy beach, weekends filled with family gatherings and afternoons engaged in hobbies. This or a number of other scenarios could be your retirement life. However, if you’re not properly prepared for taxes then it might end up taking more than you planned for from your fixed income. Luckily, the federal […] The post Common Tax Breaks for Retirees appeared first on SmartReads by SmartAsset.
Like all markets, bonds fluctuate. Your returns will be based on what you hold, when you buy it, tax treatment and other factors. While many choose to diversify their portfolios across stocks, bonds and other assets, an all-bond portfolio may allow for more predictability and income generation. You can also diversify an all-bond portfolio with different […] The post What’s the Average Return on an All-Bond Portfolio? appeared first on SmartReads by SmartAsset.
Alaska Air reached a roughly $1 billion deal to buy Hawaiian Airlines a combination of two nearly century-old rivals that are dwarfed by the biggest players in a time of travel upheaval. Executives said the deal would solidify Alaska Airlines’ position as the fifth-largest U.S. carrier. The airlines will retain their separate brands, but said together they will have broader reach, connecting Hawaii to three times as many destinations in the continental U.S. and giving Alaska Air a new hub in Honolulu for flights to Asia.
Alaska Air Group announced a deal to buy Hawaiian Airlines for $1.9 billion as consolidation in the industry continues. Alaska Airlines said it would pay $18 a share in cash and take on $900 million of debt from Hawaiian. It said the merger will allow the combined carrier to offer more destinations for consumers and expand choice in the Pacific region.
Our chart of the week highlights the varied forecasts Wall Street strategists are predicting for the S&P 500's 2024.
Generating enough income in retirement to meet your spending needs is crucial. While Social Security provides inflation-protected retirement income, it's simply not enough for many retirees. If you need help planning for retirement, consider working with a financial advisor. John Rekenthaler, … Continue reading → The post Treasury Bonds vs. TIPS Ladders vs. Annuities: Which Strategy Is Best For Retirement Income? appeared first on SmartAsset Blog.
The IRS is charging 8% interest on estimated shortfalls, up from 3% two years ago, one of the many effects of rising interest rates.
Boeing has been eliminated from the U.S. Air Force's Survivable Airborne Operations Center competition to replace the E-4B Nightwatch with a next-generation "Doomsday plane."
(Bloomberg) — Beneath the adrenaline rush of November’s stock-market surge is an eerie calm that points to more gains for equities investors, at least through the end of the year.Most Read from BloombergAlaska Air Agrees to Buy Hawaiian in $1.9 Billion DealKISS Avatars Go On Tour After Paul Stanley, Gene Simmons RetireUS Warns Iran-Backed Houthis After Attacks on Red Sea ShippingEerie Calm in S&P 500 Signals Historic Rally Has Staying PowerBill Gates Says Chances of Meeting 2C Warming Goal Fadi
Since planning OpenAI together, Musk and Altman have grown increasingly at odds and prone to swiping at each other.
Alaska Air will buy Hawaiian Airlines parent Hawaiian Holdings for $18 a share, a 270% premium. The deal is $1.9 billion, including assumed debt.
(Bloomberg) — Bitcoin scaled $40,000 for the first time since May 2022 as the largest digital asset extended a rebound on expectations of interest-rate reductions and greater demand from exchange-traded funds.Most Read from BloombergAlaska Air Agrees to Buy Hawaiian in $1.9 Billion DealKISS Avatars Go On Tour After Paul Stanley, Gene Simmons RetireUS Warns Iran-Backed Houthis After Attacks on Red Sea ShippingEerie Calm in S&P 500 Signals Historic Rally Has Staying PowerBill Gates Says Chances o