Market Overview
Global Escalator and Moving Walkways Market size and share is currently valued at USD 13.61 billion in 2024 and is anticipated to generate an estimated revenue of USD 23.61 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.7% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034
Escalators are used primarily in commercial and public transport hubs, while moving walkways (also known as travelators or moving sidewalks) are commonly found in airports, metro stations, and large retail outlets. The market for these products has been expanding rapidly due to increasing investments in infrastructure projects, particularly in emerging economies. This market is also benefiting from a shift toward smart and energy-efficient systems that minimize energy consumption while improving operational efficiency.
Key Market Growth Drivers
- Urbanization and Infrastructure Development
One of the most significant drivers of the escalator and moving walkways market is the rapid pace of urbanization and the concurrent growth in infrastructure development. As populations continue to grow, cities are being forced to build vertically, leading to a greater reliance on vertical transportation systems such as escalators and moving walkways. Urban centers are investing in new high-rise buildings, metro systems, and public transportation hubs that require efficient, space-saving transportation solutions for their growing populations.
In addition to the rapid construction of residential and commercial buildings, the expansion of public transit networks—such as metro and rail stations—is driving the demand for escalators and moving walkways to accommodate large numbers of passengers in busy transit terminals.
- Technological Advancements: Smart Escalators and Mobility Solutions
The increasing integration of technology in the escalator and moving walkways market is also a key growth driver. The market is witnessing the rise of smart escalators that offer advanced features, such as predictive maintenance, energy-efficient operations, and enhanced user safety. These systems are equipped with sensors and IoT capabilities to monitor operational performance, detect faults, and ensure smoother operations. As urban infrastructure continues to modernize, the demand for these intelligent solutions that can deliver enhanced service and efficiency is growing.
Additionally, the development of sustainable mobility solutions is contributing to the adoption of energy-efficient escalators and moving walkways. Manufacturers are increasingly focused on producing environmentally friendly models that consume less power while maintaining high levels of performance and reliability. This trend is especially important in regions with high energy costs and strong environmental regulations.
- Rising Demand in Emerging Markets
Emerging economies, particularly in Asia-Pacific, are witnessing rapid growth in urban infrastructure, driving the demand for escalators and moving walkways. Countries such as China, India, and Brazil are investing heavily in new metro systems, shopping malls, airports, and office buildings. As these regions continue to grow, the demand for efficient and cost-effective vertical transportation systems is set to rise.
Additionally, the rising middle-class population in these countries is leading to an increase in disposable income, driving consumer spending on infrastructure and commercial developments. This, in turn, fuels demand for escalators and moving walkways to meet the needs of the growing urban population.
Browse Full Insights:
https://www.polarismarketresearch.com/industry-analysis/escalators-and-moving-walkways-market
Market Challenges
Despite the robust growth prospects, the escalator and moving walkways market faces several challenges that could hinder its progress.
- High Initial Costs and Maintenance Expenses
The high upfront cost of installing escalators and moving walkways remains a significant barrier to their widespread adoption, particularly in developing economies where cost constraints are a major concern. The installation of these systems requires significant investment in terms of both capital and installation time. Additionally, regular maintenance and repair costs, including the need for skilled technicians, can increase the total cost of ownership for these systems, especially for public infrastructure projects.
- Safety Concerns and Regulatory Compliance
Another challenge facing the market is the need for escalator and moving walkway manufacturers to comply with strict safety standards and regulations. These systems must be regularly inspected and certified to meet various safety requirements, particularly in high-traffic areas such as airports and metro stations. Despite technological advancements, safety concerns, including accidents due to malfunctioning or poor maintenance, continue to be an issue in some regions, creating potential liabilities for both manufacturers and operators.
- Competition from Alternative Transport Solutions
In certain regions, alternative transport solutions, such as automated people movers (APM), elevators, and escalator-free designs, are emerging as potential competitors to escalators and moving walkways. These alternatives offer similar benefits in terms of vertical mobility and passenger flow management, which could limit the market's potential in some cases. For instance, in some airports, automated people movers (APMs) have been increasingly adopted as a more space-efficient alternative to traditional escalators and moving walkways.
Regional Analysis
- North America
North America remains one of the largest markets for escalators and moving walkways, with significant demand driven by infrastructure projects in the United States and Canada. The region's growing urbanization, along with a heightened focus on smart mobility solutions, has led to the widespread adoption of advanced escalators in airports, shopping malls, and commercial buildings. Additionally, a focus on sustainability and energy-efficient designs is also fueling demand for these systems.
- Europe
Europe is another key market for escalators and moving walkways, with cities like London, Paris, and Berlin leading the way in infrastructure development. The demand for energy-efficient and sustainable mobility solutions is particularly strong in the European Union, where stringent environmental regulations are in place. The market is also benefiting from the modernization of public transport networks, including the expansion of metro systems and airports.
- Asia-Pacific
The Asia-Pacific region is expected to witness the highest growth rate for escalators and moving walkways, driven by rapid urbanization in countries like China, India, and Japan. The region is investing heavily in infrastructure projects, including metro systems, airports, and commercial buildings, creating significant demand for vertical transportation systems. Additionally, as disposable incomes rise and urban populations grow, the need for efficient public transport solutions is increasing, making escalators and moving walkways an essential part of the urban landscape.
- Latin America and Middle East
Latin America and the Middle East are also experiencing growth in demand for escalators and moving walkways, although at a slower pace compared to Asia-Pacific and North America. However, countries such as Brazil, the UAE, and Saudi Arabia are investing in new metro systems, airports, and commercial infrastructure, presenting growth opportunities for the market.
Key Companies
Several prominent companies are leading the escalator and moving walkways market, including:
- Otis Elevator Company
- ThyssenKrupp AG
- KONE Corporation
- Mitsubishi Electric Corporation
- Schindler Group
These companies continue to innovate by integrating advanced technologies, focusing on sustainability, and expanding their product portfolios to meet the growing demand for smart escalators and energy-efficient moving walkways.
Conclusion
The Escalator and Moving Walkways Market is set for continued growth, driven by urbanization, the expansion of vertical transportation systems, and technological advancements in smart mobility solutions. As cities around the world modernize their infrastructure to accommodate growing populations, the demand for these systems will only increase. While challenges remain in terms of cost and safety, the future of the market looks promising, with significant opportunities in both developed and emerging regions.
More Trending Latest Reports By Polaris Market Research:
Radio-Frequency Identification (RFID) Market
Smart Bags Market: A Convenient and Secure Way of Contemporary Traveling
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek