Selbyville, Delaware, July 17, 2020 (GLOBE NEWSWIRE) -- According to the latest research report available on MarketStudyReport, Global Escalators & Elevators market was worth USD 112.5 billion in 2019 and projected to reach USD 180.7 billion at a CAGR of 6.10% over 2020-2027. Rapid expansion of global construction sector is driving the demand for smoother and energy efficient Escalators & Elevators for an easy and faster transportation of individuals and materials between the floors in a building, cites the report.

The market study provides an exhaustive analysis of key regional contributors, including North America, Europe, Asia Pacific, and Latin America. Additionally, it elucidates the available opportunities in micro markets to enable new entrants and existing companies in making the right decisions. A detailed analysis of the changing competitive dynamics as well as a detailed overview of the segments and sub-segments is provided in the research document.

According to reports published by Oxford Economics, global construction output volumes are projected to grow by 85% by 2030, with three major economies – India, China, and United States accounting for nearly 57% of the worldwide growth. Additionally, as per the data by United Nations, in 2018, urban areas comprise of 55% of the global population which is forecast to rise to 68% by the year 2050.  Hence, increasing construction of high-rise buildings, market city, and shopping malls owing to rapid industrialization & urbanization, and limited availability of terrestrial land as a result of the burgeoning population are fueling the demand for the Escalators & Elevators.

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Apart from this, WHO estimates that 20% of the global population will be aged over 60 by the year 2050. This rise in geriatric population is expected to bolster the demand for Escalators & Elevators to ease their movements in buildings, shopping malls, railway stations, and airports.

Despite the positive outlook of global Escalators and Elevators industry, high installation cost and frequency of maintenance & repair of these systems will negatively impact the industry growth over the forecast period.

Regional Insights:

Global Escalators and Elevators market is split into North America, Asia Pacific, Europe, Latin America, and Rest of the World. The research claims that Asia Pacific is currently the leading contributor to the overall market revenue, on account of rapid urbanization, increase in construction & development of residential, commercial, and institutional spaces, and presence of a massive population base especially in emerging economies like India and China.

Competitive Landscape:

Major contenders in global Escalators and Elevators market are SJEC Corporation, Hyundai Elevator Corporation Limited, Toshiba Elevator and Building Systems Corporation, Mitsubishi Electric Corporation, Hitachi Limited, Fujitec Corporation Limited, ThyssenKrupp AG, Schindler Group, KONE Oyj, and Otis Worldwide Corporation.

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Global Escalators & Elevators Market Type Analysis (Revenue, USD billion, 2017-2027)

Global Escalators & Elevators Market Service Analysis (Revenue, USD billion, 2017-2027)

Global Escalators & Elevators Market Technology Analysis (Revenue, USD billion, 2017-2027)

Global Escalators & Elevators Market End-Use Analysis (Revenue, USD billion, 2017-2027)

Global Escalators & Elevators Market Regional Analysis (Revenue, USD billion, 2017-2027)

North America

Europe

Asia Pacific

Latin America

Rest of the World

Global Escalators & Elevators Market Competitive Hierarchy Review

Table of Content:

Chapter 1. Executive Summary

1.1.      Market Snapshot

1.2.      Global & Segmental Market Estimates & forecasts, 2018-2027 (USD Billion)

1.2.1.   Escalators & Elevators Market, by Region, 2018-2027 (USD Billion)

1.2.2.   Escalators & Elevators Market, by Type, 2018-2027 (USD Billion)

1.2.3.   Escalators & Elevators Market, by Service, 2018-2027 (USD Billion)

1.2.4.   Escalators & Elevators Market, by Elevator Technology, 2018-2027 (USD Billion)

1.2.5.   Escalators & Elevators Market, by End-Use, 2018-2027 (USD Billion)

1.3.      Key Trends

1.4.      Estimation Methodology

1.5.      Research Assumption

Chapter 2. Global Escalators and Elevators Market Definition and Scope

2.1.      Objective of the Study

2.2.      Market Definition & Scope

2.2.1.   Scope of the Study

2.2.2.   Industry Evolution

2.3.      Years Considered for the Study

2.4.      Currency Conversion Rates

Chapter 3. Global Escalators & Elevators Market Dynamics    

3.1.      Escalators & Elevators Market Impact Analysis (2018-2027)

3.1.1.   Market Drivers

3.1.2.   Market Challenges

3.1.3.   Market Opportunities

Chapter 4. Global Escalators & Elevators Market: Industry Analysis

4.1.      Porter’s five force Model

4.2.      PEST Analysis

4.3.      Investment Adoption Model

4.4.      Analyst Recommendation & Conclusion

Chapter 5. Global Escalators & Elevators Market, by Type

5.1.      Market Snapshot

5.2.      Global Escalators & Elevators Market by Type, Performance - Potential Analysis

5.3.      Global Escalators & Elevators Market Estimates & forecasts by Type 2017-2027 (USD Billion)

5.4.      Escalators & Elevators Market, Sub Segment Analysis

5.4.1.   Elevators

5.4.2.   Escalators

5.4.3.   Moving Walkways

Chapter 6. Global Escalators & Elevators Market, by Service         

6.1.      Market Snapshot

6.2.      Global Escalators & Elevators Market by Service, Performance - Potential Analysis

6.3.      Global Escalators & Elevators Market Estimates & forecasts by Service 2017-2027 (USD Billion)

6.4.      Escalators & Elevators Market, Sub Segment Analysis

6.4.1.   New Installation

6.4.2.   Maintenance & repair

6.4.3.   Modernization 

Chapter 7. Global Escalators & Elevators Market, by Elevator Technology          

7.1.      Market Snapshot

7.2.      Global Escalators & Elevators Market by Elevator Technology, Performance - Potential Analysis

7.3.      Global Escalators & Elevators Market Estimates & forecasts by Elevator Technology 2017-2027 (USD Billion)

7.4.      Escalators & Elevators Market, Sub Segment Analysis

7.4.1.   Traction

7.4.2.   Machine room-less (MRI) Traction

7.4.3.   Hydraulic  

Chapter 8. Global Escalators & Elevators Market, by End-Use         

8.1.      Market Snapshot

8.2.      Global Escalators & Elevators Market by End-Use, Performance - Potential Analysis

8.3.      Global Escalators & Elevators Market Estimates & forecasts by End-Use 2017-2027 (USD Billion)

8.4.      Escalators & Elevators Market, Sub Segment Analysis

8.4.1.   Residential Sector

8.4.2.   Commercial Sector

8.4.3.   Institutional Sector

8.4.4.   Infrastructural Sector

8.4.5.   Others

Chapter 9. Global Escalators & Elevators Market, Regional Analysis

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