Escalators And Moving Walkways Market Size & Share, By Product (Escalators, Moving Walkways), Business (New Equipment, Maintenance, Modernization), Application - Growth Trends, Regional Insights (U.S., Japan, South Korea, UK, Germany), Competitive Positioning, Global Forecast Report 2025-2034

Market Outlook:

Escalators And Moving Walkways Market size is set to increase from USD 13.45 billion in 2024 to USD 23.19 billion by 2034, with a projected CAGR exceeding 5.6% from 2025 to 2034. The industry revenue for 2025 is anticipated to hit USD 14.14 billion.

• Base Year Value (2024): USD 13.45 billion
• CAGR (2025-2034): 5.6%
• Forecast Year Value (2034): USD 23.19 billion
• Historical Data Period: 2021-2034
• Largest Region: Asia Pacific
• Forecast Period: 2025-2034

Market Dynamics:

Growth Drivers & Opportunities

The escalators and moving walkways market is significantly driven by urbanization and the rapid expansion of infrastructure in cities around the world. As urban areas become more densely populated, the demand for efficient vertical and horizontal transportation solutions increases. Escalators and moving walkways are integral to the design of modern commercial complexes, airports, and public transport systems, allowing for the movement of large volumes of people in limited spaces. This necessity for efficient transport directly correlates with ongoing urban development projects, generating lucrative opportunities for manufacturers and suppliers.

Another key growth driver is the increasing focus on smart city initiatives. Many municipalities are investing in smart technologies that enhance transportation efficiency and safety. This trend opens the door for innovative escalator and moving walkway designs that incorporate IoT features, energy-saving technologies, and enhanced user interfaces. Manufacturers are encouraged to invest in R&D to create high-tech solutions that appeal to municipal planners and architects looking to modernize urban transport infrastructure.

Additionally, there is a heightened awareness of safety and accessibility needs, leading to increased demand for advanced escalator and walkway systems. Features such as anti-slip surfaces, emergency stop buttons, and easy-to-navigate designs for individuals with disabilities are becoming standard expectations. Companies that prioritize safety features will find abundant opportunities to capture a growing market segment that values not just functionality but also user accessibility and safety.

Report Scope

Report Coverage	Details
Segments Covered	Product, Business, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	KONE, Otis Worldwide, Schindler Group, TK Elevators, FUJITEC CO., LTD, Toshiba, HYUNDAI ELEVATOR CO.,LTD, Sigma Elevator Company, Kleemann Hellas SA., ThyssenKrupp AG, Stein, Sicher Elevator, Mitsubishi Electric Corp., Gulf Elevator and Escalator Co.., Stannah

Industry Restraints:

Despite the numerous growth opportunities in the escalators and moving walkways market, several

Report Scope

Report Coverage	Details
Segments Covered	Product, Business, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	KONE, Otis Worldwide, Schindler Group, TK Elevators, FUJITEC CO., LTD, Toshiba, HYUNDAI ELEVATOR CO.,LTD, Sigma Elevator Company, Kleemann Hellas SA., ThyssenKrupp AG, Stein, Sicher Elevator, Mitsubishi Electric Corp., Gulf Elevator and Escalator Co.., Stannah

Industry Restraints: could pose challenges. One significant restraint is the high initial investment and maintenance costs associated with these systems. Many potential customers, especially in underdeveloped and developing regions, may be deterred by the price tag associated with installation and ongoing upkeep. This financial barrier can delay the adoption of escalators and moving walkways in areas where they could significantly enhance transportation efficiency.

Furthermore, technological complexities often lead to prolonged installation times and the need for specialized technicians for maintenance and repairs. This reliance on skilled labor can limit the responsiveness of suppliers and contractors, making deployment less efficient. Additionally, economic fluctuations and uncertainties can impact funding for large public infrastructure projects, which in turn affects the demand for escalators and walkways.

Environmental concerns also loom as a restraint in the market. As industries increasingly focus on sustainability, there is growing pressure to develop eco-friendly transportation solutions. Existing escalators and moving walkways may not meet new environmental standards, necessitating retrofits or replacement with greener alternatives. Adapting to this shift can be both a financial burden and a logistical challenge for operators, particularly in aging infrastructure.

Regional Forecast:

North America

The North American escalators and moving walkways market is predominantly driven by the United States and Canada, where urbanization and infrastructure development continue to stimulate growth. Major cities in the U.S., such as New York, Los Angeles, and Chicago, are experiencing significant expansions in their transportation networks, leading to increased demand for escalators and moving walkways in various settings, including transportation hubs, malls, and office buildings. Canada is also seeing elevated investments in public transport systems, driving growth in this sector. The trend towards smart cities and energy-efficient solutions further adds to the positive outlook for escalator installations in the region.

Asia Pacific

In Asia Pacific, China, Japan, and South Korea are the leading players in the escalators and moving walkways market. China's rapid urbanization and massive infrastructure projects, including high-speed rail systems and urban transit stations, have propelled the need for escalators and moving walkways considerably. Japan, with its advanced technology and a focus on efficiency in public transport systems, continues to see consistent demand, particularly in urban areas. South Korea also exhibits a growing demand driven by the country's commitment to enhancing its urban transit networks and the construction of high-rise buildings. Collectively, this region is poised for substantial growth due to the combination of economic development and infrastructure investment.

Europe

In Europe, key markets include the United Kingdom, Germany, and France. The UK's increasing emphasis on modernization of its transport infrastructure, particularly in urban settings such as London, has resulted in a significant demand for escalators and moving walkways. Germany’s strong engineering sector and ongoing investments in technology are fostering advancements in escalator design and functionality, contributing to market growth. France, with its focus on efficiency and accessibility in urban transit, similarly reflects an upward trend. European countries are also becoming more environmentally conscious, leading to a greater demand for energy-efficient escalators and moving walkways, which will support growth across the region.

Segmentation Analysis:

In terms of segmentation, the global Escalators And Moving Walkways market is analyzed on the basis of Product, Business, Application.

Product Segmentation

The escalators and moving walkways market can be segmented into two main product categories: escalators and moving walkways. Escalators dominate the market, driven by their essential use in urban infrastructure, particularly in shopping malls, airports, and transit systems. Within escalators, there are various sub-segments, including conventional escalators, heavy-duty escalators, and escalators designed for specific environments, such as outdoor escalators. The focus on safety, energy efficiency, and modernization is likely to propel the growth of the escalator segment. Moving walkways, or travelators, are increasingly gaining traction, especially in airports and large public spaces, due to their convenience for moving pedestrians across long distances. Innovations in designs, such as low-speed and incline walkways, enhance user experience and could boost growth in this segment.

Business Segmentation

The business segmentation of this market includes several categories such as OEMs (Original Equipment Manufacturers) and aftermarket services. The OEM segment sees significant growth driven by the rise in construction and infrastructure projects worldwide. The aftermarket services segment encompasses installation, maintenance, and modernization, and is crucial for ensuring the longevity and efficiency of escalators and moving walkways. This segment is expected to grow rapidly as facility managers increasingly prioritize service contracts to maintain the safety and reliability of their systems. The demand for retrofitting and upgrading existing systems with newer technologies also supports growth in the aftermarket segment, particularly in urban environments with aging infrastructure.

Application Segmentation

In terms of application, the market is categorized into commercial, residential, institutional, and industrial sectors. The commercial sector, encompassing retail spaces, transportation hubs, and airports, represents the largest share, owing to high foot traffic and the continuous need for efficient passenger flow solutions. In contrast, the residential segment is expected to showcase the fastest growth, driven by increased urbanization and the rising trend of luxury living spaces incorporating escalators and moving walkways for convenience. Institutional applications, such as in hospitals and schools, highlight the essential need for accessibility and mobility solutions in public spaces. The industrial sector, while smaller, is gradually increasing its adoption of moving walkways to facilitate logistics and streamline operations in warehouses and distribution centers.

Competitive Landscape:

The competitive landscape of the Escalators and Moving Walkways Market is characterized by the presence of several key players who dominate the industry through innovation, strategic partnerships, and a diverse range of products. Companies are increasingly focusing on enhancing product functionality and safety features to meet the growing demand from sectors like commercial buildings, airports, and public transport systems. Additionally, the market is experiencing a trend towards automation and smart technology integration, which is pushing manufacturers to invest in research and development. The emphasis on sustainability and energy-efficient solutions is also shaping the competitive scenario, as firms seek to differentiate themselves through eco-friendly practices and materials. This highly dynamic environment fosters competition among established players and new entrants alike, driving growth and development across the global market.

Top Market Players

1. Otis Elevator Company

2. Schindler Group

3. KONE Corporation

4. Thyssenkrupp AG

5. Mitsubishi Electric Corporation

6. Hitachi Ltd.

7. Toshiba Corporation

8. Fujitec Co., Ltd.

9. Johnson Lifts Pvt. Ltd.

10. Sigma Elevator Company