The global elevators and escalators market is expected to grow at a CAGR of around 6% from 2017 to 2025.

Portland, OR -- (SBWire) -- 06/14/2018 --They have become a must-have in residential as well as commercial buildings such as malls, banks, hotels, and others. They are also used in various industries as they foster easy movement of goods and individuals between numerous floors of a building.

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Market Drivers and Restraints

The study identifies the various growth drivers as well as restraints that influence the growth of the global elevators and escalators market. The growth of the market is bound by factors such as growing focus of government towards high rise infrastructure, the need for rapid transit as well as the changing demographic trends. Moreover, the growing concerns for safety and changes in demography cause an increase in the adoption of escalators and elevators. The growth of the real estate sector also fuels the adoption rate of elevators and escalators in various industries. On the other hand, high cost associated with the maintenance and installation of elevators impedes the industry growth.

Market Segmentation:

By Type
Escalators
Parallel
Multi-parallel
Walkway
Others
Elevators
Passenger
Freight
Others

By Service
Maintenance & repair
Modernization
New installation

By End-User
Residential
Commercial
Institutional
Infrastructural
Other sectors

By Geography
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Italy
Rest of Europe

Asia-Pacific
China
Japan
India
Rest of Asia-Pacific

LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

The report discusses the prominent players in the market for which the industry is highly competitive. Along with their basic overview, the report provides information about the players' recent development and their financial and business segments. The key players noted in the study include United Technologies, Mitsubishi Electric Corporation, FUJITEC, ThyssenKrupp AG, Schindler, KONE Corporation, Hyundai Elevator Co., Ltd., Hitachi Ltd., Toshiba Corporation, and Electra Ltd.

Key Takeaways from the Report
The global elevators and escalators market report offers a detailed analysis of the industry, covering the market size, market drivers and restraints, market forecast, market trends, and company profiles. The report also analyzes the factors that influence demand for elevators and escalators, key market trends, and challenges faced by industry participants.
The study helps gain an in-depth understanding about the underlying factors driving the demand for the different segments of the market across the world and identify the opportunities offered by each of them.
Major players of global elevators and escalators market are mentioned in the report along with their recent developments and other data to understand the competitive landscape of the market.
The Porter's analysis explains the potency of buyers and suppliers to allow stakeholders strengthen their supplier-buyer network. It comprises the five forces such as the bargaining power of buyers, the bargaining power of suppliers, threat from substitutes, threat of new entrants, and industry rivalry.