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Elevator & Escalator Market: Higher Focus on Energy Conservation and Sustainability
Date: 5 July 2017

Elevator is a type of vertical transport equipment that efficiently moves people or goods between floors or levels of a building, vessel or any other structure. There are basically three types of elevators; Pneumatic elevators, counterweight elevator and hydraulic elevators. Another type of booming market specialty is smart elevator. It is an advanced system that allows automated vertical transportation of goods or passengers. Smart elevators are designed to transform the simple act of traveling between floors. Escalator is a moving staircase or a conveyor transport device for carrying people between floors of a building. The device consists of a motor driven chain of individual linked steps that move up or down on tracks, allowing the step treads to remain horizontal.


The global E&E market comprises three main segments namely new equipment, modernization and maintenance. The factors such as growing urbanization, increased old-age population, ageing E&E installed base and codes & regulations are expected to drive market growth. However, the growth of respective industry is challenged by high price of E&E equipment, lack of skilled workforce and safety issues.


There are a small number of major players in E&E industry but innovation and technology is at the center of it. Energy conservation is a major trend of the industry. Hydraulic lifts are being replaced with more technologically advanced, energy efficient, space saving and environmental friendly lifts, such as MRL (machine room less elevators).


The report provides a comprehensive study of global elevator and escalator market and also major regional markets. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in depth. The global elevator and escalator industry is highly competitive consisting of several large enterprises including the United Technologies Corporation, Kone Corporation, Thyssenkrupp and Schindler Holdings Ltd. The competitive landscape of the respective market, along with the company profiles of the leading players are also discussed in detail.


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