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Escalators & Moving Walkways Market Trends

  • Report ID: GMI2790
  • Published Date: May 2024
  • Report Format: PDF

Escalators & Moving Walkways Market Trends

In recent, there is a high flow requirement in transit industries, and that has steadily revolutionised the escalator industry. As a result, many companies are also customising their solutions, and there are escalators with UV LED sanitisers on handrails. This steriliser for the handrails can continuously disinfect the handrails while the escalator is in operation. It is a wireless device which means there is no energy consumption. Additionally, using artificial intelligence to optimize elevator performance, intelligent dispatch can predict which floors will be busiest at certain times and adjust elevator traffic accordingly. These systems use advanced sensors to feed data to machine learning algorithms which optimize the system's performance. They can monitor real-time data and adapt to varying passenger demands. By analysing the data collected, intelligent elevator dispatch can reduce energy consumption and enhance overall efficiency.
 

Moreover, AI is transforming the elevator industry with predictive maintenance, a proactive approach that identifies potential issues before they become critical problems. By analysing vast amounts of data, AI algorithms can forecast wear and tear and predict when maintenance is needed, reducing downtime, extending elevator lifespan, and improving safety. 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Escalators & moving walkways industry size was valued at USD 17.49 billion in 2023 and will expand at over 6.7% CAGR between 2024 and 2032 owing to urbanization, the rise of smart infrastructure coupled with sustainable design practices and increased focus on enhancing passenger experience.

The public transit application segment was worth USD 6.61 billion in 2023 and will grow at 10.79 billion by 2032, primarily attributed to rapid urbanization, prompting investments in mass transit systems worldwide.

Asia Pacific escalators & moving walkways industry recorded a valuation of USD 6.11 billion and will exceed USD 11.06 billion by 2032, driven by rapid urbanization and infrastructure development initiatives across the region.

Prominent manufacturers operating in the escalators & moving walkways industry are Dazen Elevator, Fujitec, Hitachi Ltd, Hyundai Elevator Company, Johnson Lifts Private Limited, Kleemann, KONE Corporation, Mitsubishi Electric Corp, Otis Elevator Company, Schindler, Sicher Elevator Co., Ltd., and Sigma Elevator Company among others.

Escalators & Moving Walkways Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 531
  • Countries covered: 21
  • Pages: 340
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