DUBLIN, Sept. 16, 2020 /PRNewswire/ -- The "Global Elevator and Escalator Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

Global Elevator and Escalator Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024), provides an in-depth analysis of the global elevator and escalator market by value, by installed base, by type, by service, by technology, by age range, by region, etc.

The global elevator and escalator market has increased significantly during the years 2017-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The elevator and escalator market is expected to increase due to rapid urbanization, growing construction activities, rising infrastructure investments, increasing spending of the middle-class population, surging geriatric population, escalating investments in smart cities, etc. Yet the market faces some challenges such as economic slowdown, high cost involved, safety issues, etc.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global elevator and escalator market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global elevator and escalator market is moderately fragmented with many major market players operating worldwide. The key players of the elevator and escalator market are Kone Corporation, Schindler Holding Ltd., ThyssenKrupp AG, and Mitsubishi Electric Corporation are also profiled with their financial information and respective business strategies.

Market Dynamics

Growth Driver

• Rapid Urbanization
• Growing Construction Activities
• Rising Infrastructure Investments
• Increasing Spending of Middle Class Population
• Surging Geriatric Population
• Escalating Investments in Smart Cities

Challenges

• Economic Slowdown
• High Cost Involved
• Safety Issues

Market Trends

• Growing Trend of Smart Elevators
• Growing Use of Energy-Efficient Elevators
• Emergence of IoT-enabled Elevator and Escalator System
• Increasing Trend of Modernization of Existing and Aging Elevators and Escalators

Company Coverage

• Kone Corporation
• Schindler Holding Ltd.
• ThyssenKrupp AG
• Mitsubishi Electric Corporation

For more information about this report visit https://www.researchandmarkets.com/r/nae14f

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