Escalators Market Overview:
Escalators Market is expected to garner $5,146 million by 2022, registering a CAGR of 5.3% during the forecast period 2016-2022. The growth in construction market, upcoming metro projects, expansion of airport, and other advancements have revolutionized the escalators industry, worldwide. The major factors that drive the global market are rapid urbanization, boom in real estate sector, and need for efficient & rapid transit systems. However, safety issues and lack of skilled workforce are expected to hamper the market growth.
The report comprises the study of the global escalators market that focuses on various industry verticals such commercial, public transit, and others (institutional sector and residential). The type considered are parallel, multi-parallel, walkway, and others (crisscross, and spiral).
The key manufacturers profiled in the report include Schindler Group, Kone Corporation, ThyssenKrupp AG, Dover, Hyundai, Fujitec, Mitsubishi Electric, SIGMA, Otis, and Omega.
The market is segmented by type, industry verticals, and geography. On the basis of type, it is sub-segmented into parallel, multi-parallel, walkway, and others (crisscross, and spiral). In 2015, parallel escalators generated the highest revenue in the global market. However, the others sub-segment is anticipated to exhibit the highest growth during the forecast period.
Based on industry verticals, the market is segmented into commercial, public transit, and others (institutional sector and residential). In 2015, commercial dominated the market, in terms of revenue, and is projected to continue its dominance throughout the forecast period.
The geographical regions considered in the report are North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific is expected to dominate the escalators market; however, North America is projected to grow rapidly.
Top factors impacting the global escalators market
The above figure depicts the current and the future impacts of various factors on the growth of the global escalators market. Technological advancement is projected to have a prominent impact on the market growth during the forecast period. In addition, developments in the real estate sector and rapid urbanization have fueled the market growth in the recent years. However, safety issues due to poor maintenance of equipment are expected to have a marginal impact on the market growth during the forecast period.
- This study comprises analytical depiction of the global escalators market, with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends for gaining a stronger coverage in the market.
- The report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2014 to 2022, which is provided to highlight the financial competency of the market.
- Porters Five Forces analysis illustrates the potency of the buyers and suppliers.
ESCALATORS MARKET KEY SEGMENTS:
The market is segmented on the basis of type, industry vertical, and geography.
- Others (Crisscross and Spiral)
BY INDUSTRY VERTICAL
- Public transit
- Others (Institutional Sector and Residential)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
KEY MARKET PLAYERS PROFILED
- Schindler Group
- Kone Corporation
- Thyssenkrupp AG
- Hyundai Elevator
- Mitsubishi Electric
OTHER COMPANIES MENTIONED IN THE REPORT
- Hitachi Ltd.
- Stannah Limited