Global
Escalators
Market Report, forecasts that the escalators market size
to reach $5,146 million by 2022, growing at a CAGR of 5.3% from 2016 to 2022.
Parallel escalators segment generated the largest market share in 2015 while
the others segment is expected to register highest growth rate during the
forecast period. Asia-Pacific is expected to be the largest market during the
forecast period.
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Development
in real estate sector, rise in need for efficient and rapid transit system, and
rapid urbanization are expected to drive the growth of global escalator market.
In addition, emergence of green escalators and technological advancements has
increased significantly and are expected to provide lucrative opportunity for
market growth. However, lack of skilled workforce, safety issues due to poorly
maintained equipment, and stringent government regulations limit the growth of
this market.
In
2015, parallel escalators accounted for the maximum revenue shares in the
overall escalators market due to their affordability, and easy availability. In
addition, other escalator such as crisscross and spiral escalators is expected
to witness the fastest growth at CAGR of 5.8% during the forecast period.
The
commercial sector dominated the global market in 2015 due to high durability
and ability to handle high passenger inflow. Furthermore, other industry
segment is anticipated to grow at a CAGR of 6.2% during the forecast period due
to ease in commuting over short distances and use of advanced safety features.
Asia-Pacific
is estimated to grow fastest due to increase in the adoption of escalators and
extensive growth in China, Japan, Australia, and India.
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Key Findings of the Escalators
Market:
Crisscross
and spiral type is expected to exhibit a significant growth in the escalators
market.
Commercial
sector generated the highest revenue among other industry verticals pertaining
to increase in adoption of escalators.
Asia-Pacific
is projected to exhibit a substantial growth during the forecast period.
The
key players include Schindler Group, Kone Corporation, ThyssenKrupp AG, Dover,
Hyundai, Fujitec, Mitsubishi Electric, SIGMA, Otis, and Omega.
Factors
such as rapid urbanization increase in concerns for safety, and changes in
demography lead to the increase in adoption of escalators. An escalator is a
conveyor transport device, in the form of moving staircase; used to carry
people across different floors.
The
growth of real estate sector has fueled the adoption rate of escalators in
numerous industries. The escalators market is driven by factors such as need
for efficient and rapid transit systems and rapid urbanization.
The
market is segmented based on type, industry vertical, and geography. Based on
type, the market is segmented into parallel, multi-parallel, walkway, and
others. Based on industry vertical, the market is segmented into commercial,
public transit, and others. The market is analyzed based on four regions,
namely North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle
East, and Africa) along with the country-wise analysis.
The
report includes the profiles of prominent market players, such as Schindler
Group, Kone Corporation, ThyssenKrupp AG, Dover, Hyundai, Fujitec, Mitsubishi
Electric, SIGMA, Otis, and Omega along with information regarding business
overview, financials, product portfolios, investments, and recent strategies
& developments.
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