Elevators and Escalators - Global Market Trajectory & Analytics

Global Elevators and Escalators Market to Reach $80.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Elevators and Escalators estimated at US$66 Billion in the year 2020, is projected to reach a revised size of US$80.1 Billion by 2027, growing at aCAGR of 2.8% over the period 2020-2027. Elevators, one of the segments analyzed in the report, is projected to record 2.9% CAGR and reach US$72.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Escalators segment is readjusted to a revised 2.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $7.1 Billion, While China is Forecast to Grow at 3.4% CAGR

The Elevators and Escalators market in the U.S. is estimated at US$7.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.5 Billion by the year 2027 trailing a CAGR of 3.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

Select Competitors (Total 114 Featured) -

• Canny Elevator Co., Ltd.
• Fujitec Co., Ltd.
• Hitachi Ltd.
• Hyundai Elevators Co., Ltd.
• Johnson Lifts Private Limited
• Kleemann Hellas S.A.
• KONE Oyj
• Mitsubishi Electric Corporation
• Shanghai Mitsubishi Elevator Co., Ltd. (SMEC)
• Otis Elevator Company
• Otis Electric Elevator Co., Ltd.
• Sigma Elevator Company Limited
• Savaria Corporation
• Schindler Group
• SJEC Corporation
• ThyssenKrupp Elevator AG
• Toshiba Elevator and Building Systems Corporation
• Yungtay Engineering Co. Ltd.