Escalators & Moving Walkways Market Size

Escalators & Moving Walkways Market Size

Escalators & Moving Walkways Market size was valued at around USD 17.49 billion in 2023 and is anticipated to register a CAGR of 6.7% between 2024 to 2032. The rising demand across the commercial and infrastructure sector boosting the market growth.

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The emerging nations are strongly investing in infrastructure projects such as transit hubs, shopping malls, and commercial properties. This increases the demand for escalators and moving walkways, which boost usability and the overall user experience.
 

The global development of airports and air travel has increased the need for moving walkways within terminals to assist effective passenger mobility. Furthermore, airport expansions and restorations frequently include enhancements to escalator systems to meet increased passenger volume. Additionally, advancement in escalator technology is boosting the demand for smart escalators & moving walkways. Manufacturers are continually working to enhance the efficiency, safety, and dependability of escalators and moving walkways. This includes advancements like advanced sensors, predictive maintenance networks, and energy-efficient designs, which appeal to users searching for modern solutions.
 

Installing escalators involves a major initial expenditure, particularly for large-scale projects like airports, retail malls, and subway stations. This may pose a hindrance for certain construction developers, especially in areas with limited budgets or unpredictable economic situations. On the other hand, the escalators must adhere to severe safety requirements and standards established by governments and regulatory agencies. Keeping up with these rules, maintaining compliance, and incorporating appropriate safety elements can increase the complexity and cost of escalator projects.
 

Additionally, technological improvements, although supporting market expansion, may also present challenges to conventional escalator manufacturers. Vertical transportation systems, pneumatic elevators, and other alternative technologies might disrupt the industry by providing building constructors with more efficient or cost-effective choices.