Escalator Market by Offering and Geography - Forecast and Analysis 2022-2026

The escalator market share is expected to increase by USD 3.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.69%. 

This escalator market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by offering (services and products) and geography (APAC, North America, Europe, MEA, and South America). The escalator market report also offers information on several market vendors, including Fujitec Co. Ltd., Hitachi Ltd., Hyundai Motor Co., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Schindler Holding Ltd., Sigma Elevator Co., TK Elevator GmbH, and Toshiba Corp. among others.

What will the Escalator Market Size be During the Forecast Period?

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Escalator Market: Key Drivers and Trends

The increasing investments in non-residential buildings are notably driving the escalator market growth, although factors such as fluctuation in global raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the escalator industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Escalator Market Driver

One of the key factors driving growth in the escalator market is the increasing investments in non-residential buildings. Escalators are essential machinery for commercial buildings for transporting people vertically between different levels of buildings. In recent years, there has been significant growth and development of non-residential buildings such as airports. For instance, in March 2021, the Indira Gandhi International (IGI) Airport in Delhi announced a key expansion project to increase passenger handling capacity. The expansion project includes a new terminal, advanced facilities, an additional runway, and improved capacity to handle more passengers. The increase of non-residential buildings, such as airports especially, will contribute to the growth of the global escalator market during the forecast period.

Key Escalator Market Challenge

The fluctuation in global raw material prices will be a major challenge for the escalator market size growth in the coming years. Variations in the cost of escalators will be caused by changes in global prices for raw materials or the ability of suppliers to deliver. Any changes in the prices of steel components, driving units, electronics, and cables will negatively impact the construction lift industry's production and manufacturing costs. Companies in the global escalator market aim to minimize the effect of volatility in the prices of raw materials through price adjustment mechanisms built into their agreements with suppliers and customers. Though key players are strengthening their technological expertise, expanding high-quality products, and improving their technical services, increased sales of relatively low-cost refurbished reduction gears are likely to affect revenues. This has a significant impact on the sales of new escalator products from the vendors.

This escalator market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Escalator Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Fujitec Co. Ltd.
• Hitachi Ltd.
• Hyundai Motor Co.
• KONE Corp.
• Mitsubishi Electric Corp.
• Otis Worldwide Corp.
• Schindler Holding Ltd.
• Sigma Elevator Co.
• TK Elevator GmbH
• Toshiba Corp.

 

This statistical study of the escalator market encompasses successful business strategies deployed by the key vendors. The escalator market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The escalator market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Escalator Market?

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47% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for escalators in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing construction of commercial buildings, such as shopping centers, airports, transit systems, exhibition halls, hotels, arenas, and public buildings will facilitate the escalator market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Offering Segments in the Escalator Market?

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The escalator market share growth by the services segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the escalator market size and actionable market insights on post COVID-19 impact on each segment.

 

Escalator Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.69%
Market growth 2022-2026	$ 3.93 billion
Market structure	Fragmented
YoY growth (%)	3.89
Regional analysis	APAC, North America, Europe, MEA, and South America
Performing market contribution	APAC at 47%
Key consumer countries	US, China, Germany, India, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Fujitec Co. Ltd., Hitachi Ltd., Hyundai Motor Co., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Schindler Holding Ltd., Sigma Elevator Co., TK Elevator GmbH, and Toshiba Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Escalator Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive escalator market growth during the next five years
• Precise estimation of the escalator market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the escalator industry across APAC, North America, Europe, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of escalator market vendors

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