Market Overview:
The escalators and moving walkways market size is expected to reach USD 23.61 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 5.7% during 2025–2034.
Report Scope:
This comprehensive study provides an accurate overview of the worldwide escalators and moving walkways market. Comprehensive analyses of sales volume, price, revenue, market share, and important companies are included. The market is further divided into segments by product, business, end use, and region in the study, which offers a comprehensive picture of the state of the market.
Market Definition:
Escalators and moving walkways are mechanical transport systems created to carry individuals between various levels or along flat routes in public areas such as shopping centers, airports, and transit hubs. Escalators feature a constantly in-motion staircase, whereas moving walkways are level, traveling conveyor belts. Both aim to increase convenience, minimize travel time, and enhance accessibility, particularly in crowded zones, providing a more effective option than stairs or lengthy walks.
Drivers and Trends:
- The increasing population in cities is driving the need for extensive buildings and facilities like shopping centers, airports, and office spaces for housing.
- The increasing flow of shoppers in malls is leading to a greater need for installing escalators and moving walkways. A rise in yearly foot traffic at shopping malls is propelling the growth of the escalator and moving walkways market.
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Top Companies:
In this extremely competitive market, major rivals constantly innovate and differentiate their products in an effort to take the lead in the market. Here are the top companies in the escalators and moving walkways market:
- KONE Corporation
- Otis Worldwide Corporation
- Schindler Group
- TK Elevators
- FUJITEC CO., Ltd
- Toshiba Corporation
- HYUNDAI ELEVATOR CO., Ltd
- Sigma Elevator Company
- Kleemann Hellas SA.
- ThyssenKrupp AG
- Stein Ltd
- Sicher Elevator Co., Ltd.
- Mitsubishi Electric Corp.
- Gulf Elevator and Escalator Co. Ltd.
- Stannah
Country-Wise Insights:
According to regional analysis, Asia Pacific accounted for the largest market share in 2024 because of a rise in infrastructure projects. Swift urban growth, coupled with rising infrastructure initiatives like shopping centers, office complexes, and transit stations, is fueling the need for escalators and moving walkways.
Also, North America is experiencing substantial growth due to rising renovation and construction improvement efforts. Numerous historic commercial and public structures are being modernized to enhance accessibility and comply with elevated safety regulations.
Escalators and Moving Walkways Market, Regional Outlook (Revenue – USD Billion, 2020-2034)
- North America
- Product Outlook
- Escalators
- Parallel
- Multi-Parallel
- Others
- Moving Walkways
- Escalators
- Business Outlook
- New Equipment
- Maintenance
- Modernization
- End-use Outlook
- Public Transit
- Airports
- Retail
- Institutional
- Others
- Product Outlook
- Europe
- Product Outlook
- Escalators
- Parallel
- Multi-Parallel
- Others
- Moving Walkways
- Escalators
- Business Outlook
- New Equipment
- Maintenance
- Modernization
- End-use Outlook
- Public Transit
- Airports
- Retail
- Institutional
- Others
- Product Outlook
Recent Developments in the Escalators and Moving Walkways Market
- TK Elevator’s Manufacturing Facility in India (November 2021):
TK Elevator inaugurated a multi-purpose facility in Chakan, Pune, dedicated to the local production of escalators, including the Velino, Tugela, and Victoria series. This move supports the “Make in India” initiative and addresses the growing demand for high-quality mobility solutions in the Indian market. - Mitsubishi Electric’s New U Series Escalators (December 2020):
Mitsubishi Electric Corporation introduced its u series escalators, which prioritize safety, comfort, and energy efficiency. Targeted for markets in ASEAN, the Middle East, Latin America, and India, these escalators have an annual sales goal of 500 units, reflecting a strategic push towards enhanced mobility solutions in emerging markets.
Rising investments in construction projects are driving the escalators and moving walkways market growth. Governments across the countries are increasingly allocating funds to the development of new commercial buildings, residential complexes, and public infrastructure, which is raising the demand for vertical transportation systems. Escalators and moving walkways are essential in large, multi-story structures such as shopping malls, airports, office buildings, and transportation hubs. Additionally, the expansion of cities and urbanization is pushing the need for modern, high-capacity systems.