The market size of elevators and escalators will grow by 275.28 units, elevators will be the largest revenue-generating product segment

NEW YORK, November 15, 2022 / PRNewswire / – The market for elevators and escalators the size is expected to increase by 275,28 units from 2022 to 2026. In addition, the growth momentum of the market will accelerate to a CAGR of 4.37%, according to the latest report from Technavio. This report presents a detailed picture of the market by studying, synthesizing and summing data from multiple sources through an analysis of key parameters. Get access to a comprehensive report summary describing market size and forecast along with research methodology. View our FREE PDF Sample Report

Technavio announced its latest market research report titled Global Elevator & Escalator Market 2022-2026

The elevator and escalator market covers the following areas:

Sizing of the elevator and escalator market
Market forecasts for elevators and escalators
Market analysis of elevators and escalators

Market segmentation

This report includes the segmentation of the Elevator and Escalator market by product (elevators and escalators) and by geographic area (APAC, Europe, Middle East And Africa, North AmericaAnd South America). The elevators segment will contribute significantly to the growth of the market during the forecast period. The elevator market generates the majority of its revenue from the installation of new units, servicing, maintenance and modernization of elevators. The popularity of smart elevators is increasing in high-rise projects. These elevators reduce waiting times and help people get to their destination floors in minimal time. Such technological advances will increase the adoption of elevators in the coming years.

Discover the contribution of each segment summarized in concise infographics and in-depth descriptions. Buy now for detailed segment information

Seller landscape

There are several prominent manufacturers in the global elevator and escalator market, which account for a significant share of the revenue. These suppliers compete on the basis of providing intelligent elevator installation, modernization and maintenance services. Additionally, these suppliers deal with large-scale public infrastructure, residential and commercial construction projects, which will help expand their market share during the forecast period. The market is driven by continuous innovations and developments in elevator systems, which ensure smooth rides while reducing waiting times. Therefore, suppliers are constantly developing solutions that aim to reduce waiting times by making elevator rides more comfortable, convenient and safe.

Market dynamics

The Elevator and Escalator Market report covers insights into key trends, key growth drivers, and challenges impacting overall market growth during the forecast period. The report identifies the growing demand for smart elevators, the use of regenerative drives and energy-efficient elevators and escalators as some of the major factors driving market growth. Maintenance of elevators using IoT platforms will be a crucial trend in the market during the forecast period.

Companies mentioned

  • American Crescent Elevator Mfg. Corp.

  • Braun lift

  • Brobeil Aufzuge GmbH and Co.KG

  • ESCON Elevators Pvt Ltd.

  • Express elevators

  • Fujitec Co. Ltd.

  • FURUKAWA Co. Ltd.

  • HIRO LIFT Hillenkotter and Ronsieck GmbH

  • Hitachi Ltd.

  • Hyundai Elevator Co. Ltd.

  • KOHLER Elevator GmbH

  • KONE Corp.

  • Mitsubishi Electric Corp.

  • Otis Worldwide Corp.

  • Savaria Corp.

  • Schindler Holding Ltd.

  • TK Elevator GmbH

  • Toshiba Corp.

  • Weidmuller Interface GmbH and Co. KG


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Related reports

Growth of the lift and escalator market in Russia – Forecast and analysis – 2022-2026: The growing demand for smart elevators is the key factor. The main advantages of a smart elevator over a traditional one include improved energy efficiency, improved elevator traffic control, reduced waiting times and integrated access control functions. One of the most important features of smart elevators is the destination dispatch function.

APAC Elevator and Escalator Market by Product, End User and Geography – Forecasts and Analysis 2022-2026: The growing demand for smart elevators is driving the growth of the market. Smart elevators are the result of efforts to design energy efficient elevators that can also reduce the amount of time it takes to move between floors in a building. When a user selects a destination floor in a smart elevator, the elevator directs them to the elevator that will take them to that floor with the fewest stops.

Scope of the elevator and escalator market

Report coverage


Page number


Reference year


Forecast period


Moment of growth and CAGR

Accelerate to 4.37% CAGR

Market growth 2022-2026

275.28 units

Market structure


Year-on-year growth (%)


Regional analysis

APAC, Europe, the Middle East and Africa, North America and South America

Contribution of the performing market

APAC at 77%

Key consumer countries

United States, China, India, Japan and Germany

Competitive landscape

Leading companies, competitive strategies, area of ​​consumer involvement

Profiled companies

American Crescent Elevator Mfg. Corp., Braun Elevator, Brobeil Aufzuge GmbH and Co.KG, ESCON Elevators Pvt Ltd., Express Elevators, Fujitec Co. Ltd., FURUKAWA Co. Ltd., HIRO LIFT Hillenkotter and Ronsieck GmbH, Hitachi Ltd. , Hyundai Elevator Co. Ltd., KOHLER Elevator GmbH, KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Savaria Corp., Schindler Holding Ltd., TK Elevator GmbH, Toshiba Corp., Weidmuller Interface GmbH and Co. KG and WITTUR HOLDING GmbH

Market dynamics

Core Market Analysis, Market Growth Inductors and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Future Consumer Dynamics, and Market Condition Analysis for the Forecast Period.

Expertise for customization

If our report did not include the data you are looking for, you can contact our analysts and customize the segments.

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Key topics covered

1 Executive summary

2 Market panorama

3 Sizing of the market

4 Analysis of the five forces

5 Market segmentation by product

6 Customer landscape

7 Geographic landscape

8 Drivers, challenges and trends

9 Vendor landscape

10 Supplier Analysis

11 Appendix

Who we are

Technavio is a world-leading technological consulting and research company. Their research and analysis focuses on emerging market trends and provides useful information to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of over 17,000 reports and counts, covering 800 technologies, in 50 countries. Their customer base is made up of businesses of all sizes, including more than 100 Fortune 500 companies. This growing customer base is based on Technavio’s comprehensive coverage, in-depth research and actionable market insights to identify opportunities in the existing and potential markets and assess their competitive positions within evolving market scenarios.

Technavio Research
Jesse Maida
Media and marketing executive
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Global Elevator and Escalator Market 2022-2026

Global Elevator and Escalator Market 2022-2026



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