Global escalators & moving walkways market is anticipated to grow at a CAGR of 5.4% during the forecast period (2024-2031). The growing number of high-density environments such as shopping malls and transportation hubs that require efficient vertical movement methods has driven the demand for escalators and moving walkways market. Escalators and moving walkways offer a safe and efficient way to transport large numbers of people, improving traffic flow and reducing congestion. As cities become more crowded, accessibility becomes a priority, and modern escalators and moving walkways can enhance user experience. They are also being incorporated into public transportation systems and subway stations to improve accessibility. The synergistic effect of urbanization and increased government spending on infrastructure projects fuels the market for these products. This makes escalators and moving walkways a crucial element in modern urban infrastructure.
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The US is witnessing significant residential construction projects including, D.R. HORTON Lennar Corp, Pulte Group, NVR, Taylor Maison, and commercial construction projects including Amazon Headquarters, Samsung Chip Factory, California High-Speed Rail, and Texas Bullet Rail among others, thereby boosting the need for the escalators and moving walkways.
In June 2021, Mitsubishi Electric Corp., produced its Ryoden Dumbwaiter G-Series escalators to provide a more dependable and ecologically friendly model. The Ryoden Dumbwaiter G-Series is easy to operate in any setting. The increasing availability of advanced escalators and walkaways through such launches is further aiding the global market growth.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Application
o By Product
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes KONE Corp., Otis Worldwide Corp., Schindler Group, Toshiba Corp., and ThyssenKrupp AG among others.
Key questions addressed by the report.
Global Escalators & Moving Walkways Market Report Segment
By Application
By Product
Global Escalators & Moving Walkways Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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