Global Moving Walkway Market Overview
As per MRFR analysis, the Moving Walkway Market Size was estimated at 5.29 (USD Billion) in 2022. The Moving Walkway Industry is expected to grow from 5.46(USD Billion) in 2023 to 7.3 (USD Billion) by 2032. The Moving Walkway Market CAGR (growth rate) is expected to be around 3.28% during the forecast period (2024 - 2032).
Key Moving Walkway Market Trends Highlighted
The Moving Walkway market is projected to expand significantly, driven by rising demand for convenient and efficient transportation systems in public spaces. Urbanization and the growth of commercial and transportation hubs have led to an increased need for moving walkways to facilitate seamless movement of large crowds. The adoption of advanced technologies, such as IoT and sensors, is enhancing the safety and efficiency of moving walkways.
The market is witnessing a trend towards sustainable solutions, with manufacturers focusing on developing energy-efficient models and adopting eco-friendly materials. Customization and personalization are becoming important factors, as customers seek moving walkways tailored to their specific requirements. The integration of moving walkways with other smart building systems is also gaining traction, allowing for centralized control and optimization of energy consumption.
Opportunities for growth lie in emerging markets, where urbanization and infrastructure development are driving demand for moving walkways. Smart cities and the increasing focus on accessibility for mobility-impaired individuals are expected to further boost market growth. Competitive strategies include strategic partnerships, product innovation, and enhanced after-sales services to ensure customer satisfaction and long-term market share.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Moving Walkway Market Drivers
Rising Infrastructure Development Activities
The factors perpetuating the demand for moving walkways include the ongoing expansion of airports, shopping malls, and other public infrastructure projects. The complexity, size, and the distance that must be traveled by people using these facilities increases. In this regard, these buildings and commercial centers need more effective ways of providing their visitors with mobility options. A moving walkway serves this purpose by creating a smooth and relocating people in a noninvasive and relaxed manner.
At the same time, the worldwide strive toward the principles of social design and accessibility spurs the wider implementation of moving walkways across public infrastructure. The tourism facilitates the this kind of public infrastructure projects, and as it continues to grow, the number of passengers needing to commute will rise, which will necessitate the widespread adoption of moving walkways in airports and various public places, as well as public institutions.
Simultaneously, the pace of life and urbanization tends to increase the concentration of the population in metropolitan cities. Hence, the demand for space-efficient and sustainable mobility solutions is also growing. Moving walkways meet both these criteria due to their properties of being more efdective at moving people in high-traffic areas in a quicker and more convenient manner, as well as because they are energy-efficient and do not require much space.
Advancements in Technology
The Moving Walkway Market Industry is experiencing significant growth due to advancements in technology. These advancements have led to the development of more efficient, reliable, and user-friendly moving walkways. For instance, the introduction of variable-speed drives has enabled moving walkways to adjust their speed based on traffic flow, improving efficiency and reducing energy consumption. Moreover, the integration of sensors and artificial intelligence (AI) is enhancing the safety and convenience of moving walkways.
Sensors can detect obstacles and automatically stop the walkway, preventing accidents. AI algorithms can analyze traffic patterns and optimize the operation of moving walkways, reducing wait times and improving passenger flow.
Growing Focus on Sustainability
The growing focus on sustainability is driving the demand for energy-efficient and environmentally friendly moving walkways. Manufacturers are increasingly adopting sustainable practices and incorporating eco-friendly materials into their products. For instance, some moving walkways now use energy-efficient LED lighting and regenerative braking systems to reduce energy consumption. Additionally, the use of recycled materials in the construction of moving walkways is becoming more common.
By adopting sustainable practices, manufacturers can reduce the environmental impact of moving walkways and cater to the growing demand for eco-friendly products.
Moving Walkway Market Segment Insights
Moving Walkway Market Type Insights
The types of the Moving Walkway market include horizontal moving walkways, inclined moving walkways and curved moving walkways. Horizontal moving walkways are the most common type and are usually found in airports, shopping malls and other public spaces. Inclined moving walkways are used to carry people up or down slopes and are often found in train stations and other transportation centres. Curved moving walkways are used to carry people around corners and are often found in amusement parks and other entertainment venues. The horizontal moving walkways segment is expected to be the dominant segment of the Moving Walkway market by 2023.
The dominance of this segment is due to the increasing use of moving walkways in public spaces, as well as the increasing popularity of horizontal moving walkways in residential and commercial buildings. This type of moving walkway is expected to maintain a similar growth rate for the duration of the forecast period. The inclined moving walkways segment is expected to grow at a slightly slower rate relative to the horizontal moving walkways segment. The growth of this segment is due to the increasing use of inclined moving walkways in train stations and other transport facilities, as well as the increasing popularity of inclined moving walkways in commercial and industrial buildings.
This segment of the market is expected to maintain a similar growth rate for the duration of the forecast period. The curved moving walkways segment is expected to be the smallest segment of the Moving Walkway market by 2023. The growth of this segment is due to the increasing use of curved moving walkways in amusement parks and other entertainment venues, as well as the increasing popularity of inclined moving walkways in commercial and residential buildings. Mats that have a curved shape are expected to maintain a similar growth rate for the duration of the forecast period.
Overall, the Moving Walkway market is expected to maintain a similar growth rate for a duration of the forecast period. The growth of this market is due to the increasing use of moving walkways in public places, as well as the increasing popularity of moving walkways in residential and commercial buildings.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Moving Walkway Market Installation Location Insights
In the installation location segment of the Moving Walkway Market segmentation has an important role in analyzing market dynamics and understanding the growth opportunities. Airports, railway stations, shopping malls, hotels, and office buildings are the key market segments of moving walkways. Airports, as an installation location, have a commandable market share as moving walkways are used here to transport passengers from gates to terminals, from one terminal to another terminal, from the parking lot to the terminal, and other facilities.
The number of passengers at airport increases day by day so moving walkways become an important location to acquire the market. As portrayed in market segmentation railway stations are other location segments where moving walkways are widely used to move commuters from one platform to another platform. Vacationers mostly visit shopping centers as they prefer moving walkways to stroll, which makes it an important location in acquiring the market. Hotels and office buildings are also an installation location where moving walkways are placed to facilitate guests and employees.
The Moving Walkway Market revenue is anticipated to develop notably over the years. Rising urbanization, increasing passenger traffic, and growing infrastructure development are the key factors driving market revenue growth.
Moving Walkway Market Speed Insights
The speed segment is a key factor in the Moving Walkway Market. Different speeds are suitable for different applications. Low speed moving walkways (up to 0.5 m/s) are commonly used in airports, shopping malls, and other public areas where people need to move short distances. Medium speed moving walkways (0.5 to 1.0 m/s) are often used in transportation hubs, such as train stations and airports, where people need to cover longer distances. High speed moving walkways (over 1.0 m/s) are typically used in industrial settings, such as factories and warehouses, where people need to move quickly and efficiently.
The low speed segment is expected to account for the largest share of the Moving Walkway Market revenue in 2024, due to its wide range of applications. The medium speed segment is expected to grow at the highest CAGR during the forecast period, due to the increasing demand for moving walkways in transportation hubs. The high speed segment is expected to account for a relatively small share of the market, but it is expected to grow at a steady pace, due to the increasing demand for moving walkways in industrial settings. Overall, the speed segment is an important factor in the Moving Walkway Market, and different speeds are suitable for different applications.
The market for moving walkways is expected to grow in the coming years, due to the increasing demand for these products in a variety of settings.
Moving Walkway Market Capacity Insights
The Moving Walkway Market segmentation by Capacity includes Low Capacity (up to 6,000 passengers per hour), Medium Capacity (6,000 to 12,000 passengers per hour), and High Capacity (over 12,000 passengers per hour). The Medium Capacity segment is expected to hold the largest share of the market in 2023, accounting for around 40% of the Moving Walkway Market revenue. This is due to the high demand for moving walkways in public transportation hubs, such as airports and railway stations, where there is a need for efficient and reliable transportation of large numbers of people.
The High Capacity segment is expected to witness the highest growth rate during the forecast period, owing to the increasing adoption of moving walkways in large-scale commercial and industrial applications, such as shopping malls and manufacturing facilities.
Moving Walkway Market Regional Insights
The Moving Walkway Market is segmented by region into North America, Europe, APAC, South America, and MEA. The APAC region is expected to hold the largest market share in 2023, owing to the increasing urbanization and economic development in countries such as China and India. The North American market is expected to witness significant growth over the forecast period, driven by the growing demand for moving walkways in airports, shopping malls, and other public spaces. The European market is expected to remain stable over the forecast period, with a steady demand for moving walkways in commercial and industrial applications.
The South American market is expected to experience moderate growth over the forecast period, driven by the increasing investments in infrastructure and urbanization. The MEA market is expected to witness the highest growth rate over the forecast period, driven by the increasing demand for moving walkways in the hospitality and tourism sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Moving Walkway Market Key Players And Competitive Insights:
Major players in Moving Walkway Market are consistently striving to gain a competitive advantage in the Moving Walkway Market industry. Leading Moving Walkway Market players are focusing on research and development to introduce innovative products and expand their product portfolio. Strategic collaborations and partnerships are also being adopted by key players to enhance their market presence and expand their customer base. The Moving Walkway Market is expected to witness significant growth in the coming years due to the increasing demand from various sectors such as commercial, residential, and industrial.
KONE Corporation is a leading player in the Moving Walkway Market industry. The company offers a wide range of moving walkways, including heavy-duty, standard, and inclined moving walkways. KONE has a global presence and operates in over 60 countries. The company is known for its innovative products and customer-centric approach. KONE is committed to providing sustainable and energy-efficient solutions to its customers.
Hitachi, Ltd. is another major player in the Moving Walkway Market. The company offers a wide range of moving walkways, including indoor and outdoor moving walkways. Hitachi has a strong presence in the Asia-Pacific region. The company is known for its advanced technology and high-quality products. Hitachi is committed to providing environmentally friendly solutions to its customers.
Key Companies in the Moving Walkway Market Include:
- Otis Elevator Company
- TK Elevator
- Dover Corporation
- Mitsubishi Electric Corporation
- Toshiba Elevator and Building Systems Corporation
- Schindler Group
- Hyundai Rotem Company
- Hyundai Elevator Co., Ltd.
- Toshiba MitsubishiElevator and Building Systems Corporation
- Hitachi, Ltd.
- LG Electronics Inc.
- KONE Corporation
- ThyssenKrupp Elevator AG
- Fujitec Co., Ltd.
Moving Walkway Industry Developments
The Moving Walkway market is projected to reach USD 7.3 billion by 2032, exhibiting a CAGR of 3.28% from 2024 to 2032. The increasing adoption of moving walkways in airports, shopping malls, and other public areas to enhance accessibility and convenience is driving market growth. Additionally, government initiatives to promote sustainable transportation and reduce carbon emissions are contributing to the demand for energy-efficient moving walkways.
Recent developments include the launch of advanced moving walkways with features such as real-time passenger tracking, improved safety systems, and enhanced aesthetics. Manufacturers are also focusing on developing eco-friendly and low-maintenance moving walkways to meet environmental regulations and reduce operating costs.
Moving Walkway Market Segmentation Insights
Moving Walkway Market Type Outlook
- Horizontal Moving Walkways
- Inclined Moving Walkways
- Curved Moving Walkways
Moving Walkway Market Installation Location Outlook
- Airports
- Railway Stations
- Shopping Malls
- Hotels
- Office Buildings
Moving Walkway Market Speed Outlook
- Low Speed (up to 0.5 m/s)
- Medium Speed (0.5 to 1.0 m/s)
- High Speed (over 1.0 m/s)
Moving Walkway Market Capacity Outlook
- Low Capacity (up to 6,000 passengers per hour)
- Medium Capacity (6,000 to 12,000 passengers per hour)
- High Capacity (over 12,000 passengers per hour)
Moving Walkway Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
Report Attribute/Metric |
Details |
Market Size 2022 |
5.29(USD Billion) |
Market Size 2023 |
5.46(USD Billion) |
Market Size 2032 |
7.3(USD Billion) |
Compound Annual Growth Rate (CAGR) |
3.28% (2024 - 2032) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Base Year |
2023 |
Market Forecast Period |
2024 - 2032 |
Historical Data |
2019 - 2023 |
Market Forecast Units |
USD Billion |
Key Companies Profiled |
Otis Elevator Company, TK Elevator, Dover Corporation, Mitsubishi Electric Corporation, Toshiba Elevator and Building Systems Corporation, Schindler Group, Hyundai Rotem Company, Hyundai Elevator Co., Ltd., Toshiba MitsubishiElevator and Building Systems Corporation, Hitachi, Ltd., LG Electronics Inc., KONE Corporation, ThyssenKrupp Elevator AG, Fujitec Co., Ltd. |
Segments Covered |
Type, Installation Location, Speed, Capacity, Regional |
Key Market Opportunities |
Increased urban infrastructure development Escalating demand for energyefficient systems Growing focus on enhancing airport amp railway station infrastructure Rising consumer preference for convenient transportation Integration of advanced technologies |
Key Market Dynamics |
Rising urban population Increasing infrastructure investment Integration of advanced technologies Growing demand for energy efficiency Expansion of public transportation systems |
Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Moving Walkway Market is projected to reach USD 5.46 billion in 2023.
The Moving Walkway Market is expected to grow at a CAGR of 3.28% from 2023 to 2032.
Asia-Pacific is expected to hold the largest market share in the Moving Walkway Market by 2032.
Key applications of moving walkways include airports, shopping malls, public transportation hubs, and commercial buildings.
Key competitors in the Moving Walkway Market include KONE, Otis, Schindler, and ThyssenKrupp.
Major factors driving the growth of the Moving Walkway Market include increasing urbanization, rising demand for energy-efficient solutions, and growing investments in infrastructure.
Challenges faced by the Moving Walkway Market include high installation and maintenance costs, safety concerns, and competition from other modes of transportation.
Opportunities for growth in the Moving Walkway Market include technological advancements, increasing demand for sustainable solutions, and growing investments in smart cities.
Key trends in the Moving Walkway Market include the adoption of IoT and smart technologies, the integration of moving walkways with other transportation systems, and the development of energy-efficient and sustainable solutions.
The Moving Walkway Market is expected to reach USD 7.3 billion by 2032.