The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Escalators and Moving Walkways Global Market Report 2023, the escalators and moving walkways market is expected to show significant growth in the forecast period.

Key insights from the escalators and moving walkways market forecast include:

1. Market Size

The global escalators and moving walkways market is expected to grow from $16.69 billion in 2022 to $17.78 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The escalators and moving walkways market size is expected to grow to $21.6 billion in 2027 at a CAGR of 5.0%.

North America was the largest region in the escalators and moving walkway market in 2022

2. Major Driver

The flourishing commercial real estate market worldwide will propel the growth of the escalators and moving walkways market going forward. For instance, according to CBRE Group, Inc., a US-based commercial real estate services and investment company, in 2021, a record amount of USD 1.3 trillion was invested in commercial real estate globally, an increase of 55% from 2020. Also in America, the annual investment volume increased by 83% to over USD 775 billion in 2021. Therefore, flourishing commercial real estate worldwide with increasing investments in commercial real estate is driving the growth of the escalator and moving walkway markets.

View More On The Escalators and Moving Walkways Market Report 2023 – https://www.thebusinessresearchcompany.com/report/escalators-and-moving-walkways-global-market-report

3. Key Trend

New product innovation is the key trend that is gaining popularity in the escalators and moving walkways market. For instance, in May 2021, KONE Corporation, a Finland-based international engineering, and service company, launched a new elevator model, KONE DX class elevators, that work on a unique digital platform and secure APIs to connect elevators with smartphones, which makes users more convenient. This DX class elevator offers future-ready inbuilt digital solutions that help to take care of various digital solutions and service needs of the elevator throughout its entire life cycle. That helps to enhance the value of the building. Also, this had an extra feature of DX, music, which is a part of the elevator ride to set just the right mood.

4. Major Players

Major players in the escalators and moving walkways market are Kone Oyj, Schindler, Mitsubishi Electric, Fujitec Co. Ltd, Hitachi Lift India Pvt. Ltd., Ltd., Gulf Elevators Co. LLC, Sigma Elevator Company, Stannah Lifts, Senhe Elevator Co, Kleemann Hellas, and TK Elevator.

5. Top Market Segments

The global food diagnostics market is segmented –

1) By Product: Escalators, Moving Walkways

2) By Application: Public Transit, Airport, Retail, Institutional, Other Applications

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The Escalators and Moving Walkways Global Market Report 2023  provides an in-depth analysis on the escalators and moving walkways market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the escalators and moving walkways market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Parking Lots and Garages Global Market Report 2023

Airport Moving Walkways Global Market Report 2023

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