USD
GBP 
CNY 
EUR 
INR 
JPY 
MYR 
ZAR 
KRW 
THB 
Global Elevator and Escalator Growth Opportunities
Increasing Digitalization Bolstering Transformational Growth of the Industry in the Post-Pandemic Era
24-Jun-2022
North America
Market Research
PD23-01-00-00-00
EN01327-NA-MT_26665
After a highly challenging pandemic-filled 2020, the elevator and escalator market recovered in 2021 to register a global growth of 5.7% in revenues. While activity in the early part of 2021 were somewhat hampered by the pandemic, the later part of the year recovered well to post much higher growth than 2020. The recovery speed varied with the region, but all regions witnessed overall growth in terms of both units and revenue. Asia-Pacific led the recovery, with China as prime contributor. EMEA and Americas recovered well after a dismal 2020. Though 2021 saw significant growth, 2022 is likely to be weighed down by the property market slowdown in China. However, with assistance from the Chinese government to address the meltdown in the property space and general economy, the global E&E market will gather steam back in 2023 and continue growing at a CAGR of 3.6% between 2021 and 2026. Some of the key drivers for this growth are fast increasing urbanization rates especially in Asia-Pacific, growing investments in infrastructure (to boost economic development), and steady growth of the maintenance segment. This research service covers all types of elevators: machine-room (MR)/machine-room-less (MRL) and passenger, service), escalators, and moving walkways and includes revenue for elevators and escalators from new installations and service (maintenance and modernization) business segments. The report is further analyzed geographically for regions including Americas (North America and South America), Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC). The base year is 2021, and market numbers are forecast until 2026.
Author: Viswesh Vancheeshwar
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Elevator and Escalator (E&E) Market
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Geographic Segmentation
Segmentation
Segmentation (continued)
Key Competitors
Growth Metrics
Distribution Channels
Growth Drivers
Growth Restraints
Forecast Assumption
Revenue Forecast
Revenue Forecast Analysis
Unit Forecast by Business Segment
Revenue Forecast by Business Segment
Revenue and Unit Forecast Analysis by Business Segment
Revenue Forecast by Region
New Installation Unit Shipment Forecast by Region
Service Unit Forecast by Region
Revenue and Unit Forecast Analysis by Region
Post-COVID-19 Trends for the E&E Market
Pricing Trends and Forecast Analysis
Purchasing Trends
Purchasing Trends (continued)
Sustainability Trends
Competitive Environment
Revenue Share
Revenue Share Analysis
Growth Metrics
Revenue Forecast
Revenue Forecast by Business Segment
Unit Forecast by Business Segment
Revenue Forecast and Unit Analysis
Revenue Share
Revenue Share Analysis
Growth Metrics
Revenue Forecast
Revenue Forecast by Business Segment
Unit Forecast by Business Segment
Revenue Forecast Analysis
Revenue Share
Revenue Share Analysis
Growth Metrics
Revenue Forecast
Revenue Forecast by Business Segment
Unit Forecast by Business Segment
Revenue and Unit Forecast Analysis
Revenue Share
Revenue Share Analysis
Growth Opportunity 1—Technology Adoption for Increased Capabilities
Growth Opportunity 1—Technology Adoption for Increased Capabilities (continued)
Growth Opportunity 2—Sustainability for New Value Creation
Growth Opportunity 2—Sustainability for New Value Creation (continued)
Growth Opportunity 3—Partnerships/M&A for Higher Market Penetration
Growth Opportunity 3—Partnerships/M&As for Higher Market Penetration (continued)
Growth Opportunity 4—New Business Models for Competitive Advantage
Growth Opportunity 4—New Business Models for Competitive Advantage (continued)
List of Companies in “Others”
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Elevator and Escalator: Growth Metrics, Global, 2021
- Elevator and Escalator: Distribution Channel Analysis, Global, 2021
- Elevator and Escalator: Growth Drivers, Global, 2022–2026
- Elevator and Escalator: Growth Restraints, Global, 2022–2026
- Elevator and Escalator: Revenue Forecast, Global, 2019–2026
- Elevator and Escalator: Unit Forecast by Business Segment, Global, 2019–2026
- Elevator and Escalator: Revenue Forecast by Business Segment, Global, 2019–2026
- Elevator and Escalator: Revenue Forecast by Region, Global, 2019–2026
- Elevator and Escalator: New Installation Unit Shipment Forecast by Region, Global, 2019–2026
- Elevator and Escalator: Service Unit Forecast by Region, Global, 2019–2026
- Elevator and Escalator: Customer Purchase Criteria Rating, Global, 2021
- Elevator and Escalator: Revenue Share of Top Participants, Global, 2021
- Elevator and Escalator: Revenue of Top Participants, Global, 2021
- Elevator and Escalator: Growth Metrics, Americas, 2021
- Elevator and Escalator: Revenue Forecast, Americas, 2019–2026
- Elevator and Escalator: Revenue Forecast by Business Segment, Americas, 2019–2026
- Elevator and Escalator: Unit Forecast by Business Segment, Americas, 2019–2026
- Elevator and Escalator: Revenue Share of Top Participants, Americas, 2021
- Elevator and Escalator: Revenue of Top Participants, Americas, 2021
- Elevator and Escalator: Growth Metrics, EMEA, 2021
- Elevator and Escalator: Revenue Forecast, EMEA, 2019–2026
- Elevator and Escalator: Revenue Forecast by Business Segment, EMEA, 2019–2026
- Elevator and Escalator: Unit Forecast by Business Segment, EMEA, 2019–2026
- Elevator and Escalator: Revenue Share of Top Participants, EMEA, 2021
- Elevator and Escalator: Revenue of Top Participants, EMEA, 2021
- Elevator and Escalator: Growth Metrics, APAC, 2021
- Elevator and Escalator: Revenue Forecast, APAC, 2019–2026
- Elevator and Escalator: Revenue Forecast by Business Segment, APAC, 2019–2026
- Elevator and Escalator: Unit Forecast by Business Segment, APAC, 2019–2026
- Elevator and Escalator: Revenue Share of Top Participants, APAC, 2021
- Elevator and Escalator: Revenue of Top Participants, APAC, 2021
Speak directly with our analytics experts for tailored recommendations.
Recent related Environment research
28 Oct 2026 | South Asia, Middle East & North Africa | Strategic Imperatives
Top 10 Strategic Imperatives in the Circular Economy for Used Electronic and Electrical Equipment and ITAD Services Sector in India, 2026
This report examines the key transformations shaping India’s circular economy for used electrical and electronic equipment (EEE) and assesses the growth opportunities emerging from these shifts. It analyzes how rising volumes of used EEE, evolving regulatory frameworks, data security expectations, g...
28 Oct 2026 | Global | Market Research
Emerging Software Providers for Smart Building and FM Markets, Global, 2026
Software has become the decisive layer in smart building and facility management, and this study profiles the emerging providers reshaping the global market. It examines how digital platforms are used to monitor, control, analyze, and manage building systems and facility operations across commercial...
22 Oct 2026 | Global | Market Research
Building Construction Market, Global, 2026–2031
The global building construction market is expected to grow steadily from $8.89 trillion in 2025 to $10.56 trillion by 2031, at a 2.9% CAGR, supported by urbanization, housing demand, industrial expansion, and investment in data centers, healthcare facilities, logistics hubs, and advanced manufactur...
15 Oct 2026 | Global | Market Research
Environmental Assessment of the Top 50 Climate-Smart Companies Accelerating the Low-Carbon Economy in the Built Environment, 2026
In a global environment increasingly defined by decarbonization, urbanization, and digital transformation, companies operating in the homes and buildings sector must fundamentally redefine their strategic purpose. Growing awareness among consumers, employees, suppliers, and policymakers is elevating...
13 Oct 2026 | Asia Pacific | Market Research
Facility Management Market, Malaysia, 2026–2031
Malaysia's facility management (FM) market is one of Southeast Asia's most advanced, anchored by long-term public sector concessions and public-private partnerships in healthcare and government, alongside a mature base of commercial and industrial end users. Three forces are reshaping growth: the sh...
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.