Escalators and Moving Walkways Market Size to Exceed $6.4 Billion by 2029 | Growth and Industry Trends
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#How Has the Escalators and Moving Walkways Market Grown from 2024 to 2025?#_x000D_
The market size for escalators and moving walkways has seen substantial growth in the past few years. It is predicted to rise from $18.44 billion in 2024 to a significant $19.44 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. This growth in the previous years can be credited to the surge in urbanization and population density in urban settings, increase in public and commercial infrastructure projects, enlargement of airports and shopping malls, and transportation hubs. The focus has been on improving passenger comfort and mobility, with an increased emphasis on safety and accessibility standards._x000D_
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#What Growth Rate Is Anticipated for the Escalators and Moving Walkways Market in the Coming Years?#_x000D_
The market size of escalators and moving walkways is projected to witness substantial growth in the upcoming years, with the predicted value reaching $24.91 billion by 2029, increasing at a compound annual growth rate (CAGR) of 6.4%. This expected growth during the forecast period can be linked to the use of escalators and moving walkways in the development of smart cities, reconditioning and modernization of existing transport facilities, the need for large-capacity and heavy-duty escalators, the growth of mass transit systems and metro network, and the focus on touchless, hygienic escalator solutions. Key trends to watch out for in the projected period include the incorporation of IoT and smart connectivity, energy-saving and regenerative drive systems, innovative designs to improve aesthetics and integration, touch-free and UV-c sterilization solutions, premium materials for increasing durability, as well as remote surveillance and predictive maintenance._x000D_
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#Who Are the Leading Companies in the Escalators and Moving Walkways Market?#_x000D_
Major companies operating in the escalators and moving walkways market include Kone Oyj, ?t?? ?l?v?t?r ??m??n?, Schindler Group, Mitsubishi Electric Corporation, Fujitec Co. Ltd., ThyssenKrupp AG, Sigma Elevator Co. Ltd., Hyundai Elevator Co. Ltd., Toshiba Corporation, Hitachi Ltd., Canny Elevator Co. Ltd., Kleemann Hellas SA, Shanghai Mitsubishi Elevator Co. Ltd., Ningbo Xinda Group Co. Ltd., Guangdong Huasheng Electrical Appliances Co. Ltd., Sicher Elevator Co. Ltd., Shenyang Brilliant Elevator Co. Ltd., Hangzhou Xizi Elevator Co. Ltd., Suzhou Ostar Elevator Co. Ltd., Sodimas, Excel Elevator and Escalator Corp., Elevator Technology (Shenyang) Co. Ltd., Vintec Elevators Private Limited, Anlev Elex Elevator Co. Ltd., Sematic Group_x000D_
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#What Are the Key Drivers of the Escalators and Moving Walkways Market?#_x000D_
The escalating success of commercial real estate globally is fueling the expansion of the market for escalators and moving walkways. Commercial real estate encompasses commercial operations construction, which includes corporations and sizable residential properties. These escalators and moving walkways are employed in commercial edifices to transport people and goods between floors. The CBRE Group, Inc., an American commercial real estate services and investment firm, reported that a record-breaking USD 1.3 trillion was invested in worldwide commercial real estate in 2021, marking a 55% rise from 2020. Additionally, in America, there was an 83% surge in the annual investment volume, surpassing USD 775 billion in 2021. Therefore, the thriving global commercial real estate sector, which is seeing an uptick in investment, is propelling the expansion of the escalator and moving walkway markets._x000D_
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#What Are the Key Market Segments in the Escalators and Moving Walkways Industry?#_x000D_
The escalators and moving walkways market covered in this report is segmented –_x000D_
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1) By Product: Escalators, Moving Walkways_x000D_
2) By Application: Public Transit, Airport, Retail, Institutional, Other Applications_x000D_
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Subsegments:_x000D_
1) By Escalators: Commercial Escalators, Residential Escalators, Industrial Escalators_x000D_
2) By Moving Walkways: Horizontal Moving Walkways, Inclined Moving Walkways_x000D_
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#Which Industry Trends Are Shaping the Future of the Escalators and Moving Walkways Market?#_x000D_
In the escalators and moving walkways market, the main trend that is gaining traction is the introduction of innovative new products. Major corporations in this sector are concentrating on product innovation to maintain their market position. For example, in August 2024, Otis Elevator Sdn Bhd, a transport company based in Malaysia, launched its Gen3™ digitally connected elevator. This new product enhances the elevator riding experience with high-tech connectivity features. The Gen3 elevator is integrated with the Otis ONE IoT digital platform, allowing for on-the-spot monitoring of equipment health and performance, leading to preventative maintenance and reduced downtime. The Gen3 is designed for all types of buildings – residential, commercial, and medical, and offers both the machine room and machine-roomless options. It includes notable features such as the Otis eView display for infotainment, Compass 360 technology for increased travel efficiency and energy-conserving components like LED lighting and regenerative drives._x000D_
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#What Are the Key Regional Markets in the Escalators and Moving Walkways Industry?#_x000D_
North America was the largest region in the escalators and moving walkway market in 2024. The regions covered in the escalators and moving walkways market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa._x000D_
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#This Report Delivers Insight On: #_x000D_
1. How big is the escalators and moving walkways market, and how is it changing globally?_x000D_
2. Who are the major companies in the escalators and moving walkways market, and how are they performing?_x000D_
3. What are the key opportunities and risks in the escalators and moving walkways market right now?_x000D_
4. Which products or customer segments are growing the most in the escalators and moving walkways market?_x000D_
5. What factors are helping or slowing down the growth of the escalators and moving walkways market?_x000D_
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