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Escalators & Moving Walkways Market by Product (Escalators, Moving Walkways), by Height (Low-rise, Mid-rise, High-rise), by Business (New Equipment, Maintenance, Modernization), by End Use (Public Transit, Airports, Retail, Institutional, Others (Corporate, Government Buildings etc.)), by North America (U.S., Canada), by Europe (Germany, UK, France, Italy, Spain, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by MEA (Saudi Arabia, UAE, South Africa, Rest of MEA) Forecast 2025-2033
The size of the Escalators & Moving Walkways Market was valued at USD 17.49 Billion in 2024 and is projected to reach USD 27.54 Billion by 2033, with an expected CAGR of 6.7% during the forecast period.Key driving factors behind such growth are some major ones: rapid urbanization and infrastructural development in these areas require greater demand for easier and convenient travel in public settings, including at airports, metros, and malls. Greater sensitivity towards safety, accessibility, etc., in a public area compels people towards escalators/moving walkways as the only safe, accessible means of going up or over. Besides, innovations in technology such as energy-saving drives, increased safety features, and control integration have improved the performance and reliability of the systems which are gaining popularity in various applications. These factors along with increasing population and demand for modern infrastructures across the globe contribute to the enormous growth potential of the Escalators & Moving Walkways Market.
The market exhibits a moderate level of concentration, with key players holding substantial market shares. Innovation serves as a key growth driver, with companies investing in research and development to enhance product offerings and performance. Regulatory frameworks play a crucial role in ensuring safety and quality standards, shaping market dynamics. Substitutes, such as stairs and ramps, exert a moderate impact, while end-user industries, such as public transit, airports, and retail, remain highly influential. The level of M&A activity is moderate, with strategic partnerships and acquisitions aimed at expanding geographic reach and product portfolios.
Rapid urbanization and population growth are fueling the demand for efficient and convenient transportation systems, contributing to the growth of the escalators and moving walkways market. Technological advancements, such as IoT integration and touchless operation, are enhancing user experience and safety. The increasing focus on accessibility and inclusion is driving the adoption of solutions that cater to individuals with disabilities and the elderly.
Key Region: Asia Pacific is poised to dominate the market, driven by rapid urbanization and infrastructure development, particularly in China and India.
Dominating Segment: New Equipment is expected to lead the market, as rising construction and renovation activities create high demand for new escalators and moving walkways.
Report Coverage:
Deliverables:
Market Size and Growth: The market is estimated to reach 25.38 Billion by 2032, expanding at a CAGR of 6.7%.
Market Share: Key players hold significant market shares, with Otis Elevator Company, KONE Corporation, and Schindler Group among the major players.
North America: High demand from urban areas and growing emphasis on accessibility drive market growth.
Europe: Stringent safety regulations and modernization initiatives contribute to market expansion.
Asia Pacific: Rapid urbanization and infrastructure development in China and India fuel market growth.
Latin America: Growing investment in infrastructure and public transportation boosts market demand.
MEA: Expanding infrastructure and modernization projects create growth opportunities.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6.7% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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