United States (US) Elevator and Escalator Market (2024-2030) | Size, Share, Industry, Growth, Segmentation, Trends, Revenue & Outlook

Market Forecast By Types (Elevator, Escalator, Moving Walkways), By Services (Maintenance & Repair, New Installation, Modernization), By End-User (Residential, Commercial, Public), And Competitive Landscape

Product Code: ETC005661 Publication Date: Sep 2020 Updated Date: May 2023 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

United States (US) Elevator and Escalator Market Highlights

Report Name United States (US) Elevator and Escalator Market
Forecast period 2024-2030
CAGR 4.6%
Growing Sector Commercial, Industrial, and ResidentialΒ 

Topics Covered in United States (US) Elevator and Escalator Market Report

The United States (US) Elevator and Escalator Market Report thoroughly covers the market By Types, By Services, and By End-User. The United States (US) Elevator and Escalator Market Outlook report provides an unbiased and detailed analysis of the ongoing United States (US) Elevator and Escalator Market trends, opportunities/high growth areas, and market drivers. This would help the stakeholders devise and align their market strategies according to the current and future market dynamics.

United States (US) Elevator and Escalator Market Synopsis

United States (US) Elevator And Escalator Market is expected to generate substantial revenue during the upcoming years owing to the rising penetration towards the development of technology. The increasing disposable income and rising standard of living behold the US Elevator and Escalator Market Growth. Additionally, the increasing development in healthcare and tourism sectors backed by the rising establishment of hotels and restaurants are contributing to the US Elevator and Escalator Market Share.

According to 6Wresearch, the United States (US) Elevator and Escalator Market size is projected to grow, reaching at a CAGR of 4.6% during 2024-2030. The rising number of high-rise buildings along with the increasing deployment of elevators and escalators is residential areas beholds the development of US elevator and escalator market. Moreover, the development of the manufacturing and commercial sector also adds to the US Elevator and Escalator Market Revenue. High initial costs, stringent safety regulations, and maintenance costs are still the restraining factor in the growth of the market. However, with smart elevators utilizing AI technology to cater to efficiency & safety - the future of the industry looks promising. Furthermore, the US Elevator and Escalator Market is projected to experience impressive growth due to increasing urbanization and high demand for energy-efficient elevators & escalators. Moreover, government initiatives in infrastructure development and construction activities further propels the United States Elevator And Escalator Market Growth.

United States (US) Elevator and Escalator Market: Leading Players

The US elevator and escalator market is dominated by several key players who continually innovate to stay competitive. These leading companies include Otis Elevator Company, Schindler Group, Thyssenkrupp AG, KONE Corporation, and Mitsubishi Electric Corporation. Each of these firms has established a strong presence through a combination of advanced technology, extensive service networks, and a commitment to safety and reliability. Their dominance is further reinforced by strategic acquisitions and partnerships, which help them expand their market reach and enhance their product offerings.

United States (US) Elevator and Escalator Market: Government Initiatives

The US government has recognized the critical role of elevators and escalators in ensuring accessibility and mobility, particularly in urban areas. Consequently, several initiatives and regulations have been put in place to support industry growth and innovation. The Americans with Disabilities Act (ADA) mandates accessible design standards that directly impact elevator and escalator installations. Additionally, government funding for public infrastructure projects, including retrofitting and upgrading older buildings, has spurred demand for advanced vertical transportation solutions.

Future Insights of the United States (US) Elevator and Escalator Market

The US elevator and escalator industry is poised for significant growth, driven by urbanization, technological advancements, and an increasing focus on sustainability. Smart elevators, equipped with IoT and AI capabilities, are set to revolutionize the market by offering enhanced efficiency and user experience. Additionally, the push towards eco-friendly solutions is expected to drive innovation in energy-efficient systems. With continuous improvements and supportive government policies, the market is anticipated to experience robust expansion in the coming years.

Market Segmentation by Types

According to Ravi Bhandari, Research Head, 6Wresearch, the elevator segment accounted for a significant share and is expected to lead the market during the forthcoming years on account of increasing deployment in residential areas.

Market Segmentation by End-User

Based on end-user, the commercial segment is expected to dominate the United States (US) Elevator And Escalator Market Share due to the increasing number of commercial buildings being constructed in the United States (US).

Key Attractiveness of the Report

  • 10 Years of Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year: 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • United States (US) Elevator and Escalator Market Outlook
  • Market Size of United States (US) Elevator and Escalator Market, 2023
  • Forecast of United States (US) Elevator and Escalator Market, 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Revenues & Volume for the Period 2020 - 2030
  • United States (US) Elevator and Escalator Market Trend Evolution
  • United States (US) Elevator and Escalator Market Drivers and Challenges
  • United States (US) Elevator and Escalator Price Trends
  • United States (US) Elevator and Escalator Porter's Five Forces
  • United States (US) Elevator and Escalator Industry Life Cycle
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Types for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Elevator for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Escalator for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Moving Walkways for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Services for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Maintenance & Repair for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By New Installation for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Modernization for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By End-User for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Residential for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Commercial for the Period 2020 - 2030
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Public for the Period 2020 - 2030
  • United States (US) Elevator and Escalator Import Export Trade Statistics
  • Market Opportunity Assessment By Types
  • Market Opportunity Assessment By Services
  • Market Opportunity Assessment By End-User
  • United States (US) Elevator and Escalator Top Companies Market Share
  • United States (US) Elevator and Escalator Competitive Benchmarking By Technical and Operational Parameters
  • United States (US) Elevator and Escalator Company Profiles
  • United States (US) Elevator and Escalator Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

  • Elevator
  • Escalator
  • Moving Walkways

By Services

  • Maintenance & Repair
  • New Installation
  • Modernization

By End-User

  • Residential
  • Commercial
  • Public
United States (US) Elevator and Escalator Market (2024-2030): FAQs
Increasing urbanization, aging infrastructure, and demand for smart and connected buildings are the major drivers contributing to the growth of the market.
The integration of IoT and AI technologies, the development of energy-efficient elevators and escalators, and the growing trend towards the customization of elevators and escalators to meet the specific needs of customers are the key trends in the market.
The high cost of installation, a shortage of skilled labor, and a lack of standardization in the industry are the key challenges faced by the market.
The increasing adoption of smart technologies, the development of innovative solutions, the expansion of the market into emerging sectors, and the growing demand for high-rise buildings are the factors expected to drive demand for elevators and escalators in the upcoming years.
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1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 United States (US) Elevator and Escalator Market Overview
3.1 United States (US) Elevator and Escalator Market Revenues & Volume, 2020-2030F
3.2 United States (US) Elevator and Escalator Market - Industry Life Cycle
3.3 United States (US) Elevator and Escalator Market - Porter's Five Forces
3.4 United States (US) Elevator and Escalator Market Revenues & Volume Share, By Types, 2020 & 2030F
3.5 United States (US) Elevator and Escalator Market Revenues & Volume Share, By Services, 2020 & 2030F
3.6 United States (US) Elevator and Escalator Market Revenues & Volume Share, By End-User, 2020 & 2030F
4 United States (US) Elevator and Escalator Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 United States (US) Elevator and Escalator Market Trends
6 United States (US) Elevator and Escalator Market Segmentation
6.1 United States (US) Elevator and Escalator Market, By Types
6.1.1 Overview and Analysis
6.1.2 United States (US) Elevator and Escalator Market Revenues & Volume, By Types, 2020-2030F
6.1.3 United States (US) Elevator and Escalator Market Revenues & Volume, By Elevator, 2020-2030F
6.1.4 United States (US) Elevator and Escalator Market Revenues & Volume, By Escalator, 2020-2030F
6.1.5 United States (US) Elevator and Escalator Market Revenues & Volume, By Moving Walkways, 2020-2030F
6.2 United States (US) Elevator and Escalator Market, By Services
6.2.1 Overview and Analysis
6.2.2 United States (US) Elevator and Escalator Market Revenues & Volume, By Maintenance & Repair, 2020-2030F
6.2.3 United States (US) Elevator and Escalator Market Revenues & Volume, By New Installation, 2020-2030F
6.2.4 United States (US) Elevator and Escalator Market Revenues & Volume, By Modernization, 2020-2030F
6.3 United States (US) Elevator and Escalator Market, By End-User
6.3.1 Overview and Analysis
6.3.2 United States (US) Elevator and Escalator Market Revenues & Volume, By Residential, 2020-2030F
6.3.3 United States (US) Elevator and Escalator Market Revenues & Volume, By Commercial, 2020-2030F
6.3.4 United States (US) Elevator and Escalator Market Revenues & Volume, By Public, 2020-2030F
7 United States (US) Elevator and Escalator Market Import-Export Trade Statistics
7.1 United States (US) Elevator and Escalator Market Export to Major Countries
7.2 United States (US) Elevator and Escalator Market Imports from Major Countries
8 United States (US) Elevator and Escalator Market Key Performance Indicators
9 United States (US) Elevator and Escalator Market - Opportunity Assessment
9.1 United States (US) Elevator and Escalator Market Opportunity Assessment, By Types, 2020 & 2030F
9.2 United States (US) Elevator and Escalator Market Opportunity Assessment, By Services, 2020 & 2030F
9.3 United States (US) Elevator and Escalator Market Opportunity Assessment, By End-User, 2020 & 2030F
10 United States (US) Elevator and Escalator Market - Competitive Landscape
10.1 United States (US) Elevator and Escalator Market Revenue Share, By Companies, 2023
10.2 United States (US) Elevator and Escalator Market Competitive Benchmarking, By Operating and Technical Parameters
11 Company Profiles
12 Recommendations
13 Disclaimer
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