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    Escalator Market

    ID: MRFR/CO/1075-HCR
    112 Pages
    Snehal Singh
    September 2025

    Escalator Market Research Report Information By Type (Parallel, Multi parallel, Spiral type, Crisscross, and Others), By Application (Residential and Commercial), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2032

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    Escalator Market Research Report - Forecast to 2032 Infographic
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    Table of Contents

    Escalator Market Summary

    As per Market Research Future Analysis, the global escalator market was valued at USD 59.68 billion in 2023 and is projected to grow to USD 97.06 billion by 2032, with a CAGR of 5.60% from 2024 to 2032. The market is driven by urbanization, increased infrastructure investments, and the growing demand for efficient transportation systems in high-rise buildings. However, concerns regarding escalator accidents may hinder growth. The COVID-19 pandemic temporarily disrupted operations but also led to innovations such as contact-free operations. Major players are focusing on product differentiation and strategic partnerships to enhance their market presence.

    Key Market Trends & Highlights

    The escalator market is witnessing significant growth driven by urbanization and infrastructure development.

    • Market size in 2023: USD 59.68 billion.
    • Projected market size by 2032: USD 97.06 billion.
    • CAGR from 2024 to 2032: 5.60%.
    • North America held the largest market share in 2021.

    Market Size & Forecast

    2023 Market Size USD 59.68 billion
    2032 Market Size USD 97.06 billion
    CAGR (2024-2032) 5.60%

    Major Players

    Schindler (Switzerland), ThyssenKrupp AG (Germany), KONE Corporation (Finland), United Technologies (US), Hitachi Ltd. (Japan), Toshiba Corporation (Japan), Mitsubishi Electric Corporation, Electra Ltd. (Israel), FUJITA (Japan), Hyundai Elevator Co. Ltd.

    Escalator Market Trends

    The ongoing urbanization and infrastructural development across various regions appear to be driving an increased demand for escalators, reflecting a broader trend towards enhanced mobility solutions in public spaces.

    U.S. Department of Commerce

    Escalator Market Drivers

    Urbanization and Infrastructure Development

    The rapid pace of urbanization globally is a primary driver of the Global Escalator Market Industry. As cities expand and populations increase, the demand for efficient vertical transportation solutions rises. Urban centers are investing heavily in infrastructure projects, including commercial buildings, shopping malls, and transit systems, which often incorporate escalators. For instance, the Global Escalator Market is projected to reach 62.8 USD Billion in 2024, reflecting the growing need for escalators in densely populated areas. This trend indicates a robust growth trajectory, as urbanization is expected to continue driving demand for escalators in the coming years.

    Market Segment Insights

    Type Insights

    The  escalator market segmentation, based on type, is parallel, multi-parallel, walkway, crisscross, and spiral type. The  escalator market growth was prominently high under the parallel segment in 2021 due to increased demand from commercial buildings.

    Application Insights

    The  escalator market segmentation, based on application, is residential and commercial. The residential segment dominated the market in 2021 and is also anticipated to rise at a higher CAGR. The rising economic living standards are propelling the worldwide property market. Developing economies such as India, China, the Middle East, and North Africa are experiencing unprecedented urban growth as more people migrate to cities for work. As a result, high-rise building construction — nearly invariably equipped with smart elevators — has become increasingly important in urban expansion.

    Also, the industry is being pushed significantly by increased demand for commercial space and increased investment in public transportation projects such as metro lines and airports. However, constraints like the need for frequent maintenance and escalators' high energy consumption have the potential to impede market expansion.

    By region, the  escalator market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share, and Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

    Get more detailed insights about Escalator Market Research Report - Forecast to 2032

    Regional Insights

    Key Companies in the Escalator Market market include

    Industry Developments

    December, 2022: Otis China Adds More Than 100 Digitally Connected Elevators to Tianjin Metro - Otis China has been selected to provide more than 120 escalators and Gen3™ elevators for Tianjin Metro’s new Line 4 northern extension.The new Gen3™ elevators will be connected to Otis ONE™, an Internet of Things (IoT)-based platform already delivering real-time monitoring and predictive maintenance for Tianjin Metro.

    The digital ecosystem supports on-site service engineers to provide around-the-clock service to maximize passenger safety and minimize disruption.With 17 stations along a 22-kilometer route, the Line 4 extension builds on a southern section that opened in December 2021 with 186 Otis elevators and escalators.

    Overall, the latest addition takes the number of Otis units on the port city’s expanding subway network to more than 1,500.December, 2022: Athens Selects Otis for Nearly 100 Units on Important Metro Line Extension - New contract builds on success of Lines 2 and 3; brings total number of units installed and maintained by Otis to more than 580 - Athens residents and visitors are now able to travel from Venizelos International Airport to the Port of Piraeus in less than an hour on the 47 km Metro Line 3.That line includes six newly opened stations that complete the journey to Piraeus, including 21 Gen2® elevators and 72 heavy-duty Otis escalators.The six new stations are expected to help Piraeus and the greater area meet sustainability and traffic reduction goals – increasing overall passenger traffic on the metro network by 132,000 commuters daily and reducing the need for 23,000 vehicles on the roads above, cutting CO2 emissions by an estimated 60 tons every day.January, 2021: Schindler Launches ElevateMe Mobile App Touchless Elevator OperationThe Schindler ElevateMe smartphone app is part of the new touchless solutions in the Schindler CleanMobility range.

    The app allows passengers to simply call the elevator and select the destination with a swipe of a smartphone.Schindler's ElevateMe App is an innovative mobile app that allows passengers to call an elevator and select the destination floor via smartphone, without having to touch any buttons outside or inside the elevator car.With the new ElevateMe app, Schindler offers an end-to-end solution that provides a high level of security, while being easy to activate. Based on Schindler’s Internet of Elevators and Escalators (IoEE) platform, the app works with Schindler Ahead connected elevators.

    Installation involves a simple upgrade, after which the service can run instantly. Building owners or managers simply have to place the provided QR code stickers on the elevators and passenger can start operating the elevator via the Schindler ElevateMe app.

    Scope of the Escalator Market Report

    Type Outlook

      • Parallel
      • Multi parallel
      • Spiral type
      • Crisscross
      • Others

    Application Outlook

      • Residential
      • Commercial

    Region Outlook

      • North America
        • US
        • Canada
        • Mexico
      • Europe
        • UK
        • Germany
        • France
        • Italy
        • Spain
        • Rest of Europe
      • Asia-Pacific
        • China
        • India
        • Japan
        • Australia and New Zealand
        • Rest of Asia-Pacific
      • Rest of the World
        • South America
        • Middle East
        • Africa

    Objectives of the Study

    The objectives of the study are summarized in 5 stages. They are as mentioned below:

    Escalator Market Forecast & Size:

    To identify and estimate the market size for the  escalator market report segmented by type and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the  escalator market forecast between 2022 and 2030

    Market Landscape and Trends:

    To identify and infer the drivers, restraints, opportunities, and challenges in the  escalator market growth

    Market Influencing Factors:

    To find out the factors which are affecting the  escalator market size among consumers

    Impact of COVID-19:

    To identify and understand the various factors involved in the market affected by the pandemic

    Company Profiling:

    To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

    Intended Audience

      • Escalator manufacturers
      • Escalator dealers
      • Investors and traders

    Future Outlook

    Escalator Market Future Outlook

    The Global Escalator Market is projected to grow at a 5.6% CAGR from 2024 to 2035, driven by urbanization, infrastructure development, and technological advancements.

    New opportunities lie in:

    • Invest in smart escalator technology to enhance energy efficiency and user experience.
    • Expand service offerings in maintenance and modernization for existing installations.
    • Target emerging markets with tailored solutions for rapid urban development projects.

    By 2035, the Global Escalator Market is expected to exhibit robust growth, reflecting evolving urban infrastructure needs.

    Market Segmentation

    Type Outlook

    • Parallel
    • Multi parallel
    • Spiral type
    • Crisscross
    • Others

    Region Outlook

    North America
    • US
    • Canada
    • Mexico

    Application Outlook

    • Residential
    • Commercial

    Report Scope

    Attribute/Metric Details
    Market Size 2023 USD 59.68 billion
    Market Size 2024 USD 62.78 billion
    Market Size 2032 USD 97.06 billion
    Compound Annual Growth Rate (CAGR) 5.60% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018 - 2021
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Application and Region
    Geographies Covered North America, Europe, AsiaPacific, and Rest of the World
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Schindler (Switzerland), ThyssenKrupp AG (Germany), KONE Corporation (Finland), United Technologies (US), Hitachi Ltd. (Japan), Toshiba Corporation (Japan), Mitsubishi Electric Corporation, Electra Ltd. (Israel), FUJITA (Japan), Hyundai Elevator Co. Ltd.
    Key Market Opportunities Product innovations are a significant opportunity in the escalator business.
    Key Market Dynamics The increased urbanization is increasing the number of modern retail and metro train stations.

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    What is the study period of the escalator market report?

    The escalator market forecast period is 2024 - 2032

    What is the escalator market growth rate?

    The market is expected to register a CAGR of ~5.60 % over the next 10 years, according to  escalator market research.

    Which region has the highest market growth rate?

    Asia-Pacific is expected to register the highest CAGR during 2024 - 2032

    Which region has the largest share of the market?

    North America held the largest share in 2023

    What is the expected escalator market size by 2030?

    The market size is expected to be USD 97.06 billion by 2032.

    Who are the key players in the Market?

    Schindler (Switzerland), ThyssenKrupp AG (Germany), KONE Corporation (Finland), United Technologies (US), Hitachi Ltd. (Japan), Toshiba Corporation (Japan), Mitsubishi Electric Corporation, Electra Ltd. (Israel), FUJITA (Japan), Hyundai Elevator Co. Ltd., and others are the major companies operating in the market.

    No Data Available

    Escalator Market Segmentation

    Market Segmentation Overview

    • Detailed segmentation data will be available in the full report
    • Comprehensive analysis by multiple parameters
    • Regional and country-level breakdowns
    • Market size forecasts by segment
    Escalator Market Research Report - Forecast to 2032 Infographic
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