Global Escalators & Moving Walkways Industry Research Report, Competitive Landscape, Market Size, Regional Status and Prospect Forecast, 2024 - 2031

This "Escalators & Moving Walkways Market Research Report" evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Escalators & Moving Walkways and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. The Escalators & Moving Walkways market is anticipated to grow annually by 6.4% (CAGR 2024 - 2031).

Introduction to Escalators & Moving Walkways and Its Market Analysis

Escalators are moving staircases used to transport people between floors in a building, while moving walkways are horizontal conveyor belts that transport people across large distances. Both serve to improve the efficiency of pedestrian traffic in busy areas like airports, shopping malls, and train stations. The advantages of escalators and moving walkways include increased convenience, reduced congestion, improved safety, and accessibility for individuals with mobility issues. The global escalators and moving walkways market is expected to grow significantly due to urbanization and the increasing demand for efficient transportation systems in crowded urban areas.

The Escalators & Moving Walkways Market analysis takes a comprehensive approach to examining various aspects of the industry, including market trends, key players, growth opportunities, challenges, and technological advancements. With the market expected to grow at a CAGR of % during the forecasted period, the analysis delves into factors driving this growth, such as urbanization, increasing focus on sustainability, and rising demand for efficient transportation solutions. Additionally, the report explores the impact of factors like government regulations, economic conditions, and competitive landscape on the Escalators & Moving Walkways market, providing valuable insights for stakeholders and industry players.

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Market Trends in the Escalators & Moving Walkways Market

- Integration of IoT technology: Escalators & moving walkways are increasingly being incorporated with IoT technology to enable real-time monitoring, predictive maintenance, and performance optimization.

- Energy-efficient solutions: With a growing focus on sustainability, manufacturers are developing energy-efficient escalators & moving walkways to reduce power consumption and operating costs.

- Enhanced safety features: Consumers are demanding escalators & moving walkways with advanced safety features such as sensors for detecting obstructions, emergency stop buttons, and speed control mechanisms.

- Customization options: Escalator & moving walkway manufacturers are offering customization options to meet the specific needs and preferences of customers, such as design, size, and capacity.

- Industry disruptions: The industry is witnessing disruptions from new entrants offering innovative solutions such as modular escalators and smart moving walkways, driving competition and pushing traditional players to adapt.

The Escalators & Moving Walkways market is expected to grow significantly in the coming years, driven by these trends that are shaping the industry. With the increasing adoption of technology, focus on sustainability, and evolving consumer preferences, manufacturers are poised to capitalize on the opportunities presented by these trends to drive growth in the market.

In terms of Product Type, the Escalators & Moving Walkways market is segmented into:

• Escalators
• Moving Walkways

There are two main types of vertical transportation systems that are commonly used in public places such as shopping malls and airports - escalators and moving walkways. Escalators are staircases that move in a continuous loop to transport people between different levels of a building, while moving walkways are flat conveyor belts that carry passengers in one direction. Escalators are the dominating type of vertical transportation system that significantly holds the market share, as they are more commonly found in various settings and are more efficient at moving large numbers of people vertically.

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https://en.wikipedia.org/wiki/HMS_Hildersham_(M2705)

In terms of Product Application, the Escalators & Moving Walkways market is segmented into:

• Public Transit
• Airports
• Retail
• Institutional
• Others

Escalators and moving walkways are commonly used in public transit systems, airports, retail stores, institutional buildings, and other spaces to facilitate the movement of large volumes of people efficiently.

In public transit, escalators and moving walkways are used in subway stations and bus terminals to help passengers navigate through different levels of the station. In airports, they are used to connect terminals and help passengers reach their gates quickly. In retail settings, they improve customer flow and accessibility. In institutional buildings, they provide convenient access to different floors.

The fastest growing application segment in terms of revenue is expected to be airports, as they continue to expand and upgrade their infrastructure to accommodate increasing passenger traffic.

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Geographical Spread and Market Dynamics of the Escalators & Moving Walkways Market

North America: United States, Canada, Europe: GermanyFrance, U.K., Italy, Russia,Asia-Pacific: China, Japan, South, India, Australia, China, Indonesia, Thailand, Malaysia, Latin America:Mexico, Brazil, Argentina, Colombia, Middle East & Africa:Turkey, Saudi, Arabia, UAE, Korea

The Escalators & Moving Walkways market in

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

is currently experiencing significant growth due to the increasing urbanization and need for efficient transportation systems in major cities. Key players in the market include KONE Corporation, Otis Elevator Company, Schindler, Mitsubishi Electric Corp, Fujitec, Thyssenkrupp AG, Hitachi LTD, Hyundai Elevator Company, Toshiba Corporation, Sigma Elevator Company, Stannah, Sicher Elevator Co. Ltd., Kleemann Hellas SA, Stein Ltd, and Gulf Elevator & Escalator Co. Ltd.

Factors driving the growth of the market in

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

include the growing demand for high-quality infrastructure in commercial buildings, shopping malls, airports, and transportation hubs. Additionally, increasing investments in smart cities and sustainable mobility solutions are fueling the demand for escalators and moving walkways.

Key opportunities in the market include technological advancements such as energy-efficient escalators and walkways, IoT integration for predictive maintenance, and customization options to suit specific building requirements. With rising construction activities and a focus on enhancing passenger experience, the demand for escalators and moving walkways is expected to continue growing in

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

.

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Escalators & Moving Walkways Market: Competitive Intelligence

• KONE Corporation
• Otis Elevator Company
• Schindler
• Mitsubishi Electric Corp
• Fujitec
• Thyssenkrupp AG
• Hitachi LTD
• Hyundai Elevator Company
• Toshiba Corporation
• Sigma Elevator Company
• Stannah
• Sicher Elevator Co. Ltd.
• Kleemann Hellas SA
• Stein Ltd
• Gulf Elevator & Escalator Co. Ltd.

1. KONE Corporation:

- KONE Corporation is a leading player in the escalators and moving walkways market, known for its innovative products and solutions.

- The company has a strong global presence and a solid track record of continuous growth and profitability.

- KONE Corporation focuses on sustainability and technology-driven solutions to meet the evolving needs of customers.

2. Otis Elevator Company:

- Otis Elevator Company is a well-established player in the escalators and moving walkways market, with a reputation for quality and reliability.

- The company has a long history of delivering innovative solutions and has a strong market presence in various regions.

- Otis Elevator Company has a customer-centric approach and focuses on providing tailored solutions to meet specific customer requirements.

3. Thyssenkrupp AG:

- Thyssenkrupp AG is a key player in the escalators and moving walkways market, offering a wide range of products and services.

- The company has a strong focus on technology and innovation, with a commitment to sustainability and efficiency.

- Thyssenkrupp AG has a global footprint and is known for its high-quality products and customer service.

Sales revenue of selected companies:

- KONE Corporation: $ Billion (2020)

- Otis Elevator Company: $12.97 Billion (2020)

- Thyssenkrupp AG: $39.78 Billion (2020)

Escalators & Moving Walkways Market Growth Prospects and Forecast

The expected CAGR for the Escalators & Moving Walkways Market during the forecasted period is estimated to be around 5-6%. This growth will be primarily driven by the rising urbanization, increasing demand for efficient and convenient transportation systems, and the growing focus on enhancing passenger safety and comfort.

Innovative growth drivers in this market include the integration of smart technologies such as IoT sensors and predictive maintenance systems, which can help optimize performance and reduce downtime. Additionally, the adoption of energy-efficient escalators and moving walkways to reduce operational costs and environmental impact will also drive market growth.

To further accelerate growth prospects, innovative deployment strategies such as the installation of escalators and moving walkways in non-traditional settings like airports, shopping malls, and theme parks can be implemented. By tapping into new markets and addressing the evolving needs of passengers, companies in this industry can position themselves for sustainable growth.

Overall, the Escalators & Moving Walkways Market is poised for steady growth in the coming years, fueled by advancements in technology, changing consumer preferences, and a focus on sustainability.

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