As per the Latest Report By Market Insight Solutions, Elevator and Escalator Market Size is Estimated to Reach USD 141.6 billion in 2027.

The Global Elevator and Escalator Market is Projected to Grow With a CAGR of 6.9% From 2021 To 2027. This Report also Cover Country Level Analysis on Market Size, New Installation Volume, Maintenance Contract Price, Competition Landscape, and Other Insights.

Texas, March 02, 2021 (GLOBE NEWSWIRE) -- Global elevator and escalator market size was valued USD 80.1 billion in 2020. Increasing adoption of energy efficient elevator and escalator is a key factor driving the market growth. Moreover, rising infrastructural spending in developing countries are working as a market driving factor. On the basis of product type, passenger elevator segment accounted for major market share in 2020. Below information will also be incorporated in this report. In terms of end use, commercial segment is expected to grow with a higher CAGR over the forecasted period.

  • Market size and forecast by elevator type, escalator type, end-use, service, and region
  • Detailed analysis on elevator and escalator maintenance market
  • Analysis on total installed base by companies
  • Number of Elevators and Escalators Installed in 2020
  • Company Market Share Analysis for New Installation Market
  • Company Market Share Analysis for Maintenance Market
  • Investment analysis on new vs. installed elevators and escalators
  • Weighted Average price for new elevators and escalators
  • Price of Basic contract, comprehensive contract, and all in one maintenance 

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Based on Type, Market is Segmented into

  • Elevator
    • Passenger Elevator
    • Freight Elevator
  • Escalator
    • Step Type
    • Belt Type

Based on Service, Market is Segmented into

  • New Installation
  • Maintenance & Repair
  • Refurbishing

Based on End Use, Market is Segmented into

  • Residential
  • Commercial
    • Offices
    • Hospitality
    • Mixed Block
    • Others

Based on Region, Market is Segmented into

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, Austria, U.K., Turkey, Netherlands, Italy, Spain, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Indonesia, Rest of Asia Pacific)
  • Central & South America (Brazil, Chile, Argentina, Rest of Central & South America)
  • Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)

Companies profiled in his report are

  • Fujitec Co. Ltd.
  • Hitachi, Ltd.
  • Hyundai Elevator Co., Ltd.
  • KONE Oyj
  • Mitsubishi Electric Corporation
  • Orona Group
  • Otis Elevator Company
  • Schindler Group
  • ThyssenKrupp AG
  • Toshiba Corporation

Research Methodology

Market Insight Solutions uses both primary and secondary research tools and insights to present a comprehensive industry outlook. Industry Experts act as a great contributor to our analysis. To attain the best understanding of the product, we interview a panel of leaders from the specific industries for better technical knowledge and determine the driving factors responsible for at local and macroeconomic platforms.  Additionally, we analyze sales, annual profits, and contracts through the company's annual reports, sales reports, company websites, in-house databases, journal and statistical publications, and many other resources with secondary data.

This report sheds light on some significant parameters pertinent to the market

  • What is the COVID-19 impact on Elevator and Escalator market?
  • What is the current market status, and how did this market evolve?
  •  What are the current factors driving the market and the barriers restraining the market?
  • Are governmental, political and regulatory factors significant to this market and do they affect key growth areas?
  • What are the significant players of this market and what do their prospects look like during the forecast period?
  • What are the regulations that will influence to boost the supply chain network of the market?
  • What are the best investment opportunities for R&D of the product and new service lines?
  • What are some of the major developments in the key geographical regions which led to the current status?
  • What are the current production and technological challenges to develop the market?

Market insight solutions provide a detailed blueprint of the Elevator and Escalator market with the presentation of market dynamics and with the purpose of forecast. The report showcases an in-depth analysis to cover the market. To ascertain the market potential in the global platform, our analysts have further taken into consideration – competitive landscape and developmental landscape to make their point.  

The major goal of our report is to develop a framework to help business executives make effective decisions. Thus, our framework provides an overview of important parameters like customer journeys, geographical regions supporting the market, emerging avenues, and the significant players partaking in the overall lifecycle of the product.

Below is a snapshot of our key strategic plans

Customer Journey with product lifecycle- Companies today want their customers to interact with their brands, and our framework helps achieve the best engagement possible. Our analysts take a deeper look at your customer's journey with the products and services to determine their pain points across various touchpoints.

About Us

Market Insight Solutions is a leading market research firm that caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organizations led by an extensive team of individuals. Our team has individuals with  more than 10 years of experience in diverse research domains. Our strategic insights aims at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.

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