Escalator Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Escalator Installation (Outdoor and Indoor), By Service (New Installation, Maintenance & Repair, Modernization), By End-User (Residential, Commercial, Industrial, Infrastructure), By Region, By Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 10.44 Billion
CAGR (2026-2031)	9.19%
Fastest Growing Segment	Commercial
Largest Market	North America
Market Size (2031)	USD 17.69 Billion

Market Overview

The Global Escalator Market is projected to grow from USD 10.44 Billion in 2025 to USD 17.69 Billion by 2031 at a 9.19% CAGR. An escalator is a power-driven, continuous moving staircase designed to transport passengers between different vertical levels within buildings or public infrastructure. The primary drivers supporting the market's growth include rapid urbanization and the extensive development of public transit systems, such as airports and metro stations, which necessitate efficient mass mobility solutions. Furthermore, the increasing requirement for accessible infrastructure to accommodate an aging global demographic continues to sustain demand for these installations. Illustrating the strong international trade activity in this sector, According to the China Elevator Association, in 2024, mainland China exported 13,000 escalators and moving walks, representing a 17.3% increase compared to the previous year.

Despite this growth, the market encounters a significant challenge regarding its dependency on the cyclical nature of the construction and real estate industries. Market expansion can be impeded by economic downturns that reduce capital investment in new commercial projects, as the high initial installation and operational costs of escalators often lead developers to defer or cancel these capital-intensive procurements during periods of financial uncertainty.

Key Market Drivers

The modernization and retrofitting of aging escalator installed bases acts as a primary catalyst for market stability, particularly in developed regions where infrastructure has matured. As equipment lifecycles reach their end and safety codes become more stringent, facility managers are increasingly prioritizing the refurbishment of existing units to ensure operational reliability and regulatory compliance. This strategic shift is clearly reflected in the recent financial performance of major industry players, who are capitalizing on the high margins associated with service-led growth strategies. For instance, according to Otis Worldwide Corporation, October 2025, in the 'Third Quarter 2025 Results', the company reported that modernization orders grew by 27%, highlighting the segment's critical role in offsetting fluctuations in new equipment demand.

Simultaneously, the expansion of aviation infrastructure and airport capacity projects stimulates substantial demand for heavy-duty escalators designed to manage high passenger volumes efficiently. Governments and airport authorities are actively initiating multi-billion dollar capital improvement programs to upgrade terminals and integrate ground transportation centers, which directly necessitates the procurement of advanced vertical mobility solutions. According to Government Market News, September 2025, officials at Cleveland Hopkins International Airport are advancing a $1.6 billion expansion plan that includes the construction of a new ground transportation center featuring accompanying elevators and escalators. Underscoring the broader scale of industry activity driven by such infrastructure investments, according to the Schindler Group, October 2025, in the 'Key figures as of September 30, 2025', the company achieved a total order intake of CHF 8.52 billion for the first nine months of the year.

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Key Market Challenges

The Global Escalator Market faces a substantial hurdle due to its intrinsic dependency on the cyclical performance of the construction and real estate industries. Market expansion is frequently impeded by economic downturns, which invariably lead to a reduction in capital investment for new commercial and infrastructure projects. Since the installation of vertical transportation systems involves substantial upfront capital and long-term operational costs, developers often defer or cancel these procurements during periods of financial uncertainty. Consequently, the market experiences volatility that directly mirrors the health of the broader building sector, limiting growth potential when economic indicators weaken.

This susceptibility to market fluctuations is substantiated by recent industry data highlighting contractions in key regions. A decline in building activities restricts the volume of new equipment orders, as fewer large-scale developments reach the execution phase. Illustrating this downturn, according to the European Construction Industry Federation, in 2024, total construction investment across the European Union contracted by 2.0%. Such sectoral shrinkage directly hampers the demand for new escalator installations, forcing manufacturers to navigate a shrinking pool of new business opportunities within the built environment.

Key Market Trends

The Integration of IoT-Enabled Predictive Maintenance Systems is fundamentally reshaping the Global Escalator Market by shifting service models from reactive repairs to proactive equipment management. Manufacturers are increasingly installing smart sensors and cloud-based analytics platforms that monitor critical operational parameters, such as motor temperature and vibration patterns, in real-time to predict mechanical failures before they occur. This digital transformation significantly minimizes downtime and enhances passenger safety in high-traffic hubs like airports and metro systems. Illustrating the scale of this technological adoption, according to Otis Worldwide Corporation, May 2025, in the 'Connect and Thrive' report, the company has deployed its IoT-based solution to approximately one million connected units globally, optimizing performance across its vertical transportation portfolio.

Simultaneously, the Adoption of Energy-Efficient Regenerative Drive Technologies is accelerating as facility managers strive to reduce operational costs and meet stringent sustainability mandates. Modern escalators are being equipped with variable voltage variable frequency (VVVF) drives and regenerative systems that capture energy during braking or downward operation and feed it back into the building's power grid. This trend is driven by a broader industry commitment to decarbonization and the development of eco-friendly infrastructure. Underscoring this strategic focus, according to KONE Corporation, October 2025, in the 'KONE celebrates 115 years of excellence' press release, the manufacturer reaffirmed its target to reduce the lifetime energy consumption of its products by 40% by 2030, directly influencing the design of next-generation energy-saving escalator solutions.

Segmental Insights

Based on current market research, the Commercial segment has emerged as the fastest-growing category within the Global Escalator Market, driven primarily by rapid global urbanization and the subsequent expansion of modern infrastructure. This growth is fueled by a surge in the construction of high-traffic environments such as shopping complexes, airports, business parks, and transit hubs, all of which require efficient vertical transportation to manage dense crowds. Furthermore, the increasing need to modernize existing facilities to meet contemporary accessibility standards supports this upward trend. As economic activity concentrates in urban centers, the demand for escalators in commercial spaces remains a critical component of development.

Regional Insights

North America commands a leading position in the Global Escalator Market, driven by a mature infrastructure landscape that prioritizes modernization and safety. The region’s dominance stems from the consistent demand to retrofit and replace aging units in established commercial complexes and transit systems. This market activity is heavily influenced by strict adherence to safety codes set by the American Society of Mechanical Engineers (ASME), compelling property owners to upgrade existing equipment to meet evolving standards. Furthermore, the robust adoption of intelligent maintenance technologies ensures the region remains a primary driver of industry revenue and service innovation.

Recent Developments

• In September 2025, Hyundai Elevator entered into an exclusive strategic partnership with Al-Futtaim Contracting to significantly expand its business presence in the Kingdom of Saudi Arabia. Under the terms of this agreement, the construction division of the Al-Futtaim Group became the sole distributor responsible for the supply, installation, and maintenance of the manufacturer's complete range of vertical transportation products, including escalators and elevators, throughout the region. The collaboration was established to support Saudi Arabia's ambitious urban infrastructure projects by providing next-generation mobility technologies. Executives indicated that this alliance aimed to set new benchmarks for efficiency and safety in the local market.
• In October 2024, Hitachi Lift India announced that it had secured a substantial order to supply vertical transportation systems for a premium commercial development in Noida, India. The contract involved the delivery and installation of 56 units, including both elevators and escalators, for "CRC The Flagship" project developed by the CRC Group. This order highlighted the company's expanding footprint in the Indian real estate sector and its capacity to deliver high-speed, reliable mobility solutions for large-scale office and retail complexes. The initiative aimed to integrate advanced building systems to ensure seamless and efficient movement for the building's future occupants and visitors.
• In September 2024, TK Elevator was awarded a comprehensive contract to modernize the escalator infrastructure for Kölner Verkehrs-Betriebe AG (KVB) in Cologne, Germany. The project entailed the installation of 23 heavy-duty "victoria" model escalators across several high-traffic subway stations to replace aging equipment. These new units were designed to be equipped with the company's cloud-based IoT solution, MAX, which utilizes big data and machine learning to optimize daily operations and facilitate predictive maintenance. The CEO of TK Elevator Europe Africa noted that these sophisticated digital upgrades would significantly enhance passenger safety and improve mobility efficiency within the city’s public transport network.
• In March 2024, KONE India achieved a significant operational milestone by delivering the first escalator manufactured at its facility in Sriperumbudur, Chennai. This development marked a strategic shift for the company, which previously imported these units, underscoring its commitment to localizing production under the "Make in India" initiative. The company announced that this new manufacturing capability would allow it to supply customized, world-class vertical transportation solutions specifically tailored to the domestic market. The Managing Director of KONE India stated that this achievement reflected their dedication to meeting the evolving needs of customers by leveraging local skilled talent and advanced technology.

Key Market Players

• Otis Elevator Company
• Kone Corporation
• Schindler Group
• Thyssenkrupp AG
• Fujitec Limited
• Hitachi, Ltd.
• Mitsubishi Electric Corporation
• Toshiba Elevators and Building Systems Corporation
• Hyundai Elevator Co., Ltd.
• SJEC Corporation

By Escalator Installation	By Service	By End-User	By Region
Outdoor Indoor	New Installation Maintenance & Repair Modernization	Residential Commercial Industrial Infrastructure	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Escalator Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Escalator Market, By Escalator Installation:

• Outdoor
• Indoor

• Escalator Market, By Service:

• New Installation
• Maintenance & Repair
• Modernization

• Escalator Market, By End-User:

• Residential
• Commercial
• Industrial
• Infrastructure

• Escalator Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE