United States (US) Elevator and Escalator Market (2025-2031) | Size, Share, Industry, Growth, Segmentation, Trends, Revenue & Outlook

United States (US) Elevator and Escalator Market Growth Rate

United States (US) Elevator and Escalator Market Highlights

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

The United States Elevator and Escalator Market report thoroughly covers the market by types, services, and end-users. The market report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.

United States (US) Elevator and Escalator Market Synopsis

The United States Elevator and Escalator Market is projected to expand at a steady pace during the forecast period on account of increasing urbanization, rising investments in high-rise residential projects, and modernization of aging infrastructure. As a result, demand for safer, smarter, and energy-efficient vertical mobility solutions across metropolitan hubs such as New York, Chicago, and Los Angeles is growing steadily. In general, elevators and escalators are critical for urban transport within buildings, shopping complexes, airports, metro stations, and corporate offices.

Evaluation of Growth Drivers in the United States (US) Elevator and Escalator Market

Below mentioned are some prominent drivers and their influence to the market dynamics:

The United States Elevator and Escalator Market is projected to grow at a CAGR of 6.9% during 2025-2031. There are numerous factors proliferating expansion in this industry. For instance, rapidly increasingly urban population due to growing migration rates from rural to urban centres. In addition, technological adoption of IoT-driven maintenance, and strong government spending on smart city initiatives are further contributing to the United States Elevator and Escalator Market Growth. Apart from this, there has been surging demand for energy-efficient models and modernization of outdated elevators in public facilities.

Evaluation of Restraints in the United States (US) Elevator and Escalator Market

Below mentioned are some major restraints and their influence to the market dynamics:

United States (US) Elevator and Escalator Market Challenges

Despite constant growth and development, high cost of modernization, shortage of certified technicians, and complex safety compliance frameworks remain key hurdles. Apart from this, competition among top global OEMs is intensifying, requiring suppliers to differentiate with digital services and energy-efficient products.

United States (US) Elevator and Escalator Market Trends

Several emerging trends that are shaping market dynamics are: 

• Electrification & Energy Efficient Models - The use of regenerative braking systems as well as eco-mode elevators will help to diminish energy usage while supporting sustainability initiatives. 
• Digital Twin & Predictive Maintenance - IoT-based sensors, cloud connectivity, and AI-based diagnostics will promote uptime and operational efficiency. 
• Modular & Space Saving Elevators - Compact elevators, that do not have a machine room, are becoming more common in urban residential projects where space is limited. 
• Touchless & Smart Control Systems - Gesture-based elevators and mobile-app-based elevators are being introduced to promote hygiene and ease in riding. 

Investment Opportunities in the United States (US) Elevator and Escalator Industry

Some examples of investment opportunities in the United States (US) elevator and escalator industry are: 

• Smart Residential Towers - More high-end and multi-family residential projects will include AI-enabled elevators.
• Public Building Modernization - Creating demand for retrofits and upgrades of old elevators with digital controllers and safety-enhancing compliance. 
• Rental & Service Contracts - Interest in long-term maintenance-as-a-service contracts based on predictive analytics. 

Top 5 Leading Players in the United States (US) Elevator and Escalator Market

Here is the list of notable players dominating the landscape of United States (US) Elevator and Escalator Market:

1. Otis Worldwide Corporation

A global leader in elevators and escalators, Otis focuses on smart, connected solutions and modernization services with a strong U.S. market share.

2. Schindler Elevator Corporation

Schindler offers elevators, escalators, and moving walkways with emphasis on digital services, predictive maintenance, and green mobility.

3. KONE Corporation

KONE specializes in eco-efficient elevators and escalators, emphasizing modernization and smart building integrations across U.S. cities.

4. Thyssenkrupp Elevator (TK Elevator)

TK Elevator is known for innovative TWIN elevator systems and modernization solutions across commercial and residential markets.

5. Mitsubishi Electric US, Inc. Elevator & Escalator Division

Mitsubishi Electric offers high-speed elevators and advanced escalators, focusing on reliability and eco-efficiency for large-scale U.S. projects.

Government Regulations Introduced in the United States (US) Elevator and Escalator Market

According to U.S Government Data, regulatory organizations will generally impose strict safety and energy efficiency standards to enhance safety and sustainability within buildings. For instance, the Americans with Disabilities Act (ADA) calls for elevators in public buildings to have accessibility features. The Infrastructure Investment and Jobs Act (IIJA) provide substantial funding for improvements to airports and metro stations, increasing the need for escalators and moving walkways. The state of New York has its Green Building Standards, and California has Title 24 Energy Codes, which motivate contractors and building owners to adopt energy-efficient elevator technologies.

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

United States (US) Elevator and Escalator Market is anticipated to remain strong due to urban redevelopment, smart city initiatives, and electrification trends. Future demand will be driven by energy-efficient designs, touchless technologies, and predictive maintenance solutions. Original equipment manufacturers (OEMs) and service companies will find revenues in modernization, rental-based services, and green-certified projects until long-term market expansion.

Market Segmentation Analysis

The report offers a comprehensive study of the subsequent market segments and their leading categories.

By Types – Elevators to Dominate the Market

According to Kapil, Senior Research Analyst, 6Wresearch, Elevators are projected to dominate the market due to rising adoption in residential towers, office complexes, and hospitals. Growing demand for machine-room-less elevators and smart passenger lifts has significantly contributed to their revenue share.

By Services – Maintenance & Repair to Dominate the Market

Among services, Maintenance & Repair is expected to dominate due to the aging infrastructure and mandatory safety compliance requirements in the U.S. The long-term recurring contracts for maintenance ensure stable revenue streams for OEMs and independent service providers.

By End-User – Residential Sector to Dominate the Market

Residential sector is anticipated to lead the United States (US) Elevator and Escalator Market Share due to urban housing demand, particularly in multi-family apartments and luxury high-rises. Increased investments in gated communities and smart housing projects are accelerating elevator installations across cities.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year: 2024
• Forecast Data until 2031.
• 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, 2024
• Forecast of United States (US) Elevator and Escalator Market, 2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Revenues & Volume for the Period 2021-2031
• 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 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Elevator for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Escalator for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Moving Walkways for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Services for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Maintenance & Repair for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By New Installation for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Modernization for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By End-User for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Residential for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Commercial for the Period 2021-2031
• Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Public for the Period 2021-2031
• 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