Elevator and Escalator Market Booms with 7.1% CAGR Forecast for 2024-30

Global Elevator and Escalator Market Insights Report Overview

Dive into the latest insights on the Global Elevator and Escalator Market with our comprehensive report, accurately curated by the experts at MarkNtel Advisors. Our report offers a thorough examination of the global landscape, providing valuable data, impartial analysis, and strategic insights to drive informed decision-making.

Report's Study Period:

• Historical Period: 2019-22
• Base Year: 2023
• Forecasting Period: 2024-30

We accurately gather data from primary and secondary sources, capturing the industry's historical fluctuations and trends, including market dynamics, consumer behavior, manufacturing insights, and more. Leveraging this data alongside the base year information, we project the industry's trajectory into the future.

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Industry Driving Factor:

The Surge in Casualties Involving Elevator and Escalator - According to information from the Consumer Product Safety Commission and the U.S. Bureau of Labor Statistics, accidents involving elevators and escalators result in roughly 30 fatalities and 17,000 serious injuries annually in the United States. Nearly 90% of fatalities and 60% of major injuries are caused by elevators. 14 (nearly half) of the annual deaths involve accidents while working on or near elevators, including constructing, repairing, and maintaining elevators, as well as operating in or near elevator shafts. Incidents involving workers caught in or between escalator and elevator moving parts, in or on platforms that collapse or struck by escalators are numerous. These factors are likely to impede market growth during the forecast period.

Segmentation Summary: Global Elevator and Escalator Market

Our report delves into the intricate segmentation of the Elevator and Escalator Market, providing insights into each subdivision's trajectory, trends, and advancements. This analysis empowers stakeholders to navigate the industry landscape with precision, understanding the nuances of each segment.

-By Type

• Elevator
• Escalator

-By Service

• New Installation
• Modernization
• Maintenance

-By End User

• Residential
• Commercial
• Retail
• Health Care
• Hospitality
• Government & Transportation
• Others

Leading Competitive: Global Elevator and Escalator Market

• Canny Elevator Company Ltd.
• Fujitec Co Ltd
• Hitachi, Ltd.
• Hyundai Elevator Co., Ltd.
• Kone Oyj
• Mitsubishi Electric Corporation
• Orona S.Coop.
• Otis Worldwide Corporation
• Schindler Holding Ltd.
• ThyssenKrupp Elevator AG
• Toshiba Elevator and Building Systems Corporation
• Others

Geographical Reach:

The Elevator and Escalator Industry spans across various regions, each characterized by unique cultural, regulatory, and economic factors. Our regional analysis provides a comprehensive overview and forecast, considering these differences and assessing market players' presence, consumer preferences, and more.

-By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

For inquiries or further discussions, connect with our analyst today to unlock the full potential of the Elevator and Escalator Industry.

Key Focus Areas:

• What are the primary drivers and trends influencing the Elevator and Escalator Industry's growth, and how is the market structured?
• How are segments within the Elevator and Escalator Industry defined, and what is the size of each segment?
• Which segments and geographical regions present the most promising growth opportunities?
• What does the competitive landscape look like, and how do key players position themselves within the market?

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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