Escalators & Moving Walkways Market
Escalators & Moving Walkways Market Size, Share & Trends Analysis Report by Application (Retail, Public Transit, Airports, and Institution), by Product (Parallel Escalator, Multi-Parallel Escalator, and Moving Walkaways) Forecast Period (2024-2031)
Escalators & moving walkways market is anticipated to grow at a CAGR of 5.4% during the forecast period (2024-2031). Escalators and moving walkways are transportation methods used to move people within a building or between different levels. Escalators are mechanized staircases that continuously move in a loop while moving walkways are horizontal conveyor belts that move people from one place to another. Escalators have a vertical direction, steps, capacity, speed, and use cases for moving people between floors or long distances.
Market Dynamics
Growth in urbanization and infrastructure development
Rapid urbanization around the world is leading to the construction of new buildings, including shopping malls, airports, train stations, and office buildings. These buildings all require escalators and moving walkways to move people around efficiently. Therefore, the growing urbanization is likely to drive the demand for the global market. In November 2020, Mitsubishi Electric Corp. launched a new U series of escalators. This product launch aimed to provide comfort and safety to the passengers along with significant energy savings as compared to its previous models. Such product launches are expected to meet the growing market demand.
Increasing demand for public transportation
Globally, cities are becoming more crowded, people are increasingly turning to public transportation to get around. This is leading to a demand for escalators and moving walkways in train stations, airports, and other public transportation hubs. The introduction of new airports and public transits is further likely to drive the global market growth.
Market Segmentation
Our in-depth analysis of the global escalators & moving walkways market includes the following segments by product, and application:
- Based on the product, the market is segmented into parallel escalator, multi-parallel escalator, and moving walkaways.
- Based on application, the market is sub-segmented into retail, public transit, airports, and institution.
Public Transit to Hold Major Market Share
The high demand for escalators and moving walkways across public transits is a key contributor to the high share of this market segment. According to the World Bank, over 50.0% of the population lives in urban areas. By 2045, the world's urban population will increase by 1.5 times to 6 billion. Therefore, the rising demand to plan for growth and provide basic services, infrastructure, and affordable housing expands the population’s needs. Additionally, to tackle problems of traffic congestions, many governments across the globe are focused on development of efficient metro rail systems, thereby propelling the demand for market. According to the Washington Metropolitan Area Transit Authority, in September 2022, Metro completed installation of 27 new escalators with 13 more underway as part of the project. Further, Metro’s contractor KONE will install the escalators as part of an ongoing project to replace 130 escalators across the Metrorail system by 2028, helping to ensure the regional infrastructure remains in a state of good repair.
Regional Outlook
The global escalators & moving walkways market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Escalators & Moving Walkways Market Growth by Region 2024-2031
Asia-Pacific to Exhibit the Highest CAGR
Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period. The rapid urbanization, economic growth, and increasing number of government infrastructure projects have driven the regional market growth. Cities are expanding, leading to the need for escalators and moving walkways in new buildings. As disposable incomes rise, there is a demand for convenience and luxury goods. Governments are prioritizing public transportation, leading to investments in railway networks and airport expansions. Accessibility is a key focus, and escalators and walkways are essential for public spaces. The existence of major infrastructure projects such as Xiong’an-Xinzhou High-Speed Railway, China, Singapore Cross Island MRT Line, Singapore, Melbourne Suburban Rail Loop, Australia, and other projects are expected to fuel the market demand for escalators & moving walkways during the forecast period.
Market Players Outlook
The major companies serving the global escalator and moving walkaways market include KONE Corp., Otis Worldwide Corp., Schindler Group, Toshiba Corp., and ThyssenKrupp AG among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in August 2022, KONE, an elevator engineering company introduced ISO 8102-20, a new cybersecurity standard for escalators and moving walkways ensuring uninterrupted people flow with secured digital ecosystems to expand its product portfolio.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global escalators & moving walkways market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. KONE Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Mitsubishi Electric Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Schindler Group
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Escalators & Moving Walkways Market by Application
4.1.1. Retail
4.1.2. Public Transit
4.1.3. Airports
4.1.4. Institution
4.2. Global Escalators & Moving Walkways Market by Product
4.2.1. Parallel Escalators
4.2.2. Multi-parallel Escalators
4.2.3. Moving Walkways
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East & Africa
6. Company Profiles
6.1. 3Phase Elevator
6.2. Advance Lifts Inc.
6.3. Bonsdag Industries Pvt. Ltd.
6.4. Bucher Industries AG
6.5. Canny Elevator Co., Ltd.
6.6. CIRCOR International Inc.
6.7. Custom Elevator Manufacturing Inc.
6.8. Delta Elevator Co. Ltd.
6.9. Fujitec Co., Ltd.
6.10. GMV Polska Sp. z o.o.
6.11. Kleeman Hellas S.A.
6.12. Orona S. Coop.
6.13. Otis Worldwide Inc.
6.14. TK Elevator GmbH
6.15. Toshiba Elevator and Building Systems Corp.
1. GLOBAL ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY APPLICATION 2023-2031 ($ MILLION)
2. GLOBAL ESCALATORS & MOVING WALKWAYS FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL ESCALATORS & MOVING WALKWAYS FOR PUBLIC TRANSIT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL ESCALATORS & MOVING WALKWAYS FOR AIRPORTS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL ESCALATORS & MOVING WALKWAYS FOR INSTITUTIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY PRODUCT 2023-2031 ($ MILLION)
7. GLOBAL PARALLEL ESCALATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL MULTI-PARALLEL ESCALATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. NORTH AMERICAN ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
12. NORTH AMERICAN ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
13. NORTH AMERICAN ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
14. EUROPEAN ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
15. EUROPEAN ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
16. EUROPEAN ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
17. ASIA-PACIFIC ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
18. ASIA-PACIFIC ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
19. ASIA-PACIFIC ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BYPRODUCT, 2023-2031 ($ MILLION)
20. REST OF THE WORLD ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
21. REST OF THE WORLD ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
22. REST OF THE WORLD ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
23. REST OF THE WORLD ESCALATORS & MOVING WALKWAYS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2023-2031 ($ MILLION)
1. GLOBAL ESCALATORS & MOVING WALKWAYS MARKET SHARE BY APPLICATION, 2023 VS 2031 (%)
2. GLOBAL ESCALATORS & MOVING WALKWAYS FOR RETAIL MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL ESCALATORS & MOVING WALKWAYS FOR PUBLIC TRANSIT MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL ESCALATORS & MOVING WALKWAYS FOR AIRPORT MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL ESCALATORS & MOVING WALKWAYS FOR INSTITUTION MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL ESCALATORS & MOVING WALKWAYS MARKET SHARE BY PRODUCT, 2023 VS 2031 (%)
7. GLOBAL PARALLEL ESCALATORS & MOVING WALKWAYS MARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL MULTI PARALLEL ESCALATORS MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL ESCALATORS & MOVING WALKWAYS FOR MOVING WALKAWAYS MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL ESCALATORS & MOVING WALKWAYS MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. US ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
12. CANADA ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
13. UK ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
14. FRANCE ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
15. GERMANY ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
16. ITALY ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
17. SPAIN ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
18. REST OF EUROPE ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
19. INDIA ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
20. CHINA ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
21. JAPAN ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
22. SOUTH KOREA ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
23. REST OF ASIA-PACIFIC ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
24. LATIN AMERICA ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
25. MIDDLE EAST AND AFRICA ESCALATORS & MOVING WALKWAYS MARKET SIZE, 2023-2031 ($ MILLION)
