Elevator and Escalator Market Size to Reach USD 36840 Million by 2027 at CAGR 0.8% - Valuates Reports

BANGALORE, India, Oct. 28, 2021 /PRNewswire/ -- The Elevator and Escalator Market  is Segmented by Type (Elevator, Escalator, Moving Walkway), Application (Residential Area, Commercial Office, Transportation Hub Area, Industrial Area). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Construction & Maintenance Category.

In 2020, the global Elevator and Escalator market size was USD 34830 Million and it is expected to reach USD 36840 Million by the end of 2027, with a Compound Annual Growth Rate (CAGR)of 0.8% during the forecast period 2021-2027.

The Major Factor Driving The Growth Of The Global Elevator And Escalator Market Are:

The Elevator and Escalator Market is growing because of an increase in the use of elevators and escalators at airports, malls, subways, hospitals, office buildings, and other commercial places to provide convenience during transit.

Machines to lift and move heavy objects are required in industries such as oil & gas, petrochemical, manufacturing, energy & power, and automotive. Such industries use elevators or escalators to move these heavy objects within the manufacturing unit. Thus the increasing demand from these businesses is expected to drive the growth of the elevator and escalator market.

Get your sample today: https://reports.valuates.com/request/sample/QYRE-Othe-1Z482/Elevator_and_Escalator_Market

Trends Influencing The Growth Of The Global Elevator And Escalator Market:

The elevator and escalator market is predicted to benefit from the ongoing expansion of the Internet of Things (IoT) in the elevators and escalators industry. IoT allows a product to gather, exchange, and analyze data with its operator, manufacturer, and other relevant devices in the elevator and escalator business. IoT allows modern lifts and escalators to automatically predict and respond to traffic in real-time, interact with service teams, and allow consumers to contact lifts and escalators using a Smartphone app. The usage of a connected sensor in an elevator and escalator, which minimizes waiting times, may also improve elevator use.

The increasing demand from end-use sectors such as residential, commercial, and industrial is another important driver for the growth of the elevators and escalators market. The number of mixed-block high-rise constructions being built has increased. Large residential complexes, offices, stores, serviced apartments, showrooms, hotels, and casinos might all be found in mixed blocks. This trend is expected to fuel the Elevators and escalators market growth.

Furthermore, the global elevators and escalators industry is predicted to develop in response to the government's increased attention on high-rise infrastructure and the growing need for rapid transit.

Browse the Table of Contents and List of figures at: https://reports.valuates.com/reports/QYRE-Othe-1Z482/elevator-and-escalator

Global Elevator And Escalator Market Share Analysis

Based on region, China is the largest market, with a share of about 70%, followed by Europe, and North America, both have a share of over 20 percent. Factors such as the growth of the residential, commercial, institutional, and infrastructure industries are propelling the elevator and escalator market in this region.

Based on product, Elevator held the largest elevator and escalator market share over 80%. And Based on the application, the largest application is Residential Area, followed by Commercial Office, Transportation Hub, Industrial Area, etc.

Report Customization Request: https://reports.valuates.com/request/customisation/QYRE-Othe-1Z482/Elevator_and_Escalator_Market

Key Companies in the Elevator and Escalator Market

• Otis
• Schindler Group
• ThyssenKrupp
• Kone
• Mitsubishi Electric
• Toshiba
• Hitachi
• Fujitec
• Hyundai
• Yungtay Engineering
• Canny Elevator
• Volkslift
• Syney Elevator
• Sicher Elevator
• SJEC
• Guangri Elevator
• Hangzhou XiOlift
• Edunburgh Elevator
• Suzhou Diao
• CNYD
• Meilun Elevator
• IFE Elevators
• Joylive Elevator
• Dongnan Elevator

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-1Z482&lic=single-user

Buy Now for Enterprise License + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-1Z482&lic=enterprise-license

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS 

-  In 2020, the global Escalators market size was USD 6007 Million and it is expected to reach USD 7522.9 Million by the end of 2027, with a CAGR of 3.0% during 2021-2027.

-  In 2020, the global Elevator market size was USD 38470 Million and it is expected to reach USD 43210 Million by the end of 2027, with a CAGR of 1.5% during 2021-2027.

-  The global Elevator Maintenance & Repair, New Installation & Modernization market size is projected to reach USD 7998.5 Million by 2027, from USD 7512.3 Million in 2020, at a CAGR of 0.9% during 2021-2027.

-  The global Elevator IoT market size is projected to reach USD 52380 Million by 2027, from USD 19450 Million in 2020, at a CAGR of 15.2% during 2021-2027.

-  In 2020, the global Smart Elevators and Escalators market size was USD 6016.5 Million and it is expected to reach USD 8121.9 Million by the end of 2027, with a CAGR of 4.2% during 2021-2027.

-  In 2020, the global Passenger Elevators market size was USD 36090 Million and it is expected to reach USD 48430 Million by the end of 2027, with a CAGR of 4.4% during 2021-2027.

-  The global Cladding Systems market size is projected to reach USD 241670 Million by 2027, from USD 194900 Million in 2020, at a CAGR of 3.1% during 2021-2027.

-  The global Smart Building market size is projected to reach USD 165160 Million by 2027, from USD 71970 Million in 2020, at a CAGR of 12.6% during 2021-2027.

-  The global Building Analytics market size is projected to reach USD 9041.1 Million by 2027, from USD 5404.3 Million in 2020, at a CAGR of 7.5% during 2021-2027.

-  In 2020, the global Hydraulic Elevator market size was USD 612.9 Million and it is expected to reach USD 559.6 Million by the end of 2027, with a CAGR of -1.3% during 2021-2027.

-  Global Contactless Elevator Market Size, Status and Forecast 2021-2027

-  Global Escalators & Moving Walkways Sales Market Report 2021

-  Global and United States Curved Escalator Market Insights, Forecast to 2027

-  Global Machine Room Less Elevator Market Research Report 2021

-  Global and Japan Industrial Elevator Market Insights, Forecast to 2027

To see the full list of related reports on the Elevator and Escalator

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. 

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

CONTACT US:

Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call  +1-(315)-215-3225
For IST Call  +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com
Follow on Twitter - https://twitter.com/valuatesreports
Follow on Linkedin - https://in.linkedin.com/company/valuatesreports
Follow on Facebook - https://www.facebook.com/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg