Elevator & Escalator Market Review: Long-Term Opportunity Vs. Short-Term Challenges

Elevator & Escalator Market Latest Edition Published with Forecast to 2030
According to the report, Technology Advancement in Elevators and Escalators is one of the primary growth factors for the market. Growth in the Construction and Infra Sectors and Changing Demographic Trends is also expected to contribute significantly to the Elevator & Escalator market. Overall, applications of Elevator & Escalator, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. New players are beginning to enter the market and established companies have been changing their business models – a trend that will continue in the future.

AMA’s Analyst on the Global Elevator & Escalator Market identified that the demand is rising in many different parts of the world due to "Development of Innovative Technologies as well as Rising Demand for Smart Elevators ". Furthermore, some recent industry insights like "In November 2023, SJEC Elevator Group Introduces the EcoMove elevator series, emphasizing energy efficiency and sustainability through regenerative braking and lightweight materials." is constantly making the industry dynamic. One of the challenges that industry facing is "Issue related to Compliance with Standards and Regulations"

The Technology, such as Elevator technology (Traction with a Room, Machine Room-Less Traction, Hydraulic), is boosting the Elevator & Escalator market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The Service, such as New installation, is boosting the Elevator & Escalator market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The End-use Industry, such as Residential, is boosting the Elevator & Escalator market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Elevator & Escalator market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Elevator & Escalator market and other related sub-markets covered in the study.

o Key & emerging players in the Elevator & Escalator market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Elevator & Escalator market size is calculated using market estimation process, the Elevator & Escalator market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Elevator & Escalator market size has been validated using both top-down and bottom-up approaches.

Praveen Kumar

Head & Director of Sales