Global Elevator and Escalator Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024)
The key players of the elevator and escalator market are Kone Corporation, Schindler Holding Ltd., thyssenKrupp AG, and Mitsubishi Electric Corporation are also profiled with their financial information and respective business strategies.
By: Daedal Research
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global elevator and escalator market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Middle East & Africa (EMEA)
Schindler Holding Ltd.
Mitsubishi Electric Corporation
Elevator, also referred to as lift, is a closed cabin that move up or down to transport passengers or freight between different floors of a multi-storey building. Whereas, an escalator is a moving staircase that carry passengers up and down between the floors of a building. Escalator consists a conveyor belt of individually linked steps on a track, which keeps each step horizontal for the passengers.
Escalators can be used in places where the installation of elevators would be impractical. The principal areas where elevators and escalators can be used, include shopping malls, railway and metro stations, hotels, airports, public buildings, high-rise apartments, etc.
The elevator and escalator's life cycle comprises four stages. The cycle starts with the stage 1, where the installation of new elevators and escalators takes place. Stages 2 comprises the maintenance & repair of elevators and escalators. Stage 3 is related with the modernization activities. Finally, the stage 4 requires the full replacement of the elevators and escalators.
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