United States Escalator Market Research Report, 2029

The Escalator market in the United States has witnessed significant growth, driven in large part by increased government investments in infrastructure development. As cities expand and populations grow, there is a corresponding rise in the demand for modern and efficient vertical transportation systems in various public, commercial, and residential settings. Government funding has been pivotal in meeting the heightened demand for elevators and escalators nationwide. Multifamily construction projects in the United States have significantly bolstered the demand for elevators. Population growth in the United States cities has fueled the need for more housing options. Multifamily construction projects have emerged as a popular solution to accommodate more residents within a smaller footprint. As these buildings rise in height, elevators become indispensable. Furthermore, urbanization has spurred high-density housing development in city centers, often featuring high-rise condominiums and apartments where elevators are essential for residents and tenants. The COVID-19 pandemic significantly impacted the United States elevator and escalator market, leading to decreased demand, construction delays, and safety measures. Businesses closed or operated with reduced capacity, resulting in lower foot traffic in commercial buildings. Construction projects experienced delays due to lockdowns, supply chain disruptions, and labor shortages. Safety measures like reduced elevator capacity, frequent cleaning, and touchless controls were implemented to ensure passenger safety of affected system efficiency. Remote work reduced the need for daily commuting and office space, affecting elevator usage in office buildings. Otis Elevator Company is a leading manufacturer known for its innovative elevator and escalator solutions, Otis has a significant presence in the U.S. market. TK Elevator company focuses on providing modern and efficient vertical transportation solutions, including escalators, and has a strong market share in the U.S. and Schindler Group is a global leader in escalators and elevators, Schindler offers a range of products and services tailored to meet the needs of various sectors. According to the research report "United States (US) Escalator Market Research Report, 2029," published by Actual Market Research, the United States (US) escalator market is anticipated to grow at more than 4.35% CAGR from 2024 to 2029. United States (US) Escalator Market is expected to generate substantial revenue during the upcoming years owing to the rising penetration towards the development of technology. The increasing disposable income and rising standard of living behold the US Elevator and Escalator Market Growth. Additionally, the increasing development in healthcare and tourism sectors backed by the rising establishment of hotels and restaurants are contributing to the US Elevator and Escalator Market Share. The rising number of high-rise buildings along with the increasing deployment of escalators is residential areas beholds the development of US escalator market. The development of the manufacturing and commercial sector also adds to the US Escalator Market Revenue. High initial costs, stringent safety regulations, and maintenance costs are still the restraining factor in the growth of the market. However, with smart elevators utilizing AI technology to cater to efficiency & safety - the future of the industry looks promising. The US Escalator Market is projected to experience impressive growth due to increasing urbanization and high demand for energy-efficient elevators & escalators. Moreover, government initiatives in infrastructure development and construction activities further propels the United States escalator market growth. The escalator industry in the United States is experiencing growth driven by the increasing travel trends in several ways. The influx of tourists into the country has led to a higher demand for escalators in places such as hotels, airports, and public facilities. The tourism industry is a catalyst for new construction projects and the renovation of existing structures, often necessitating the installation of modern and efficient vertical transportation systems. In the summer of 2023, the Boston Mayor announced a tax break program supported by the Boston Planning and Development Agency (BPDA). The program aims to convert 104,000 ft2 of office space in eight downtown Boston buildings into 170 apartments. Developers involved include Boston Pinnacle Properties, KS Partners, and Equity Residential.

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Parallel escalators are the most common type found in commercial and public spaces. They operate in a straight line, allowing for the efficient movement of people between different levels of a building. These escalators are typically used in shopping malls, airports, and transit stations, where high foot traffic is expected. Their design allows for easy installation and maintenance, making them a popular choice for both new constructions and retrofits. Multi-parallel escalators consist of multiple escalators running parallel to each other. This configuration is often employed in high-traffic areas where a single escalator may not suffice to handle the volume of users. Multi-parallel escalators can significantly enhance the flow of people, reducing wait times and improving overall efficiency. They are commonly found in large commercial complexes, airports, and stadiums, where quick and reliable vertical transportation is critical. Walkway escalators, also known as moving walkways or travelators, are designed to transport people over longer distances at a consistent speed. Unlike traditional escalators that primarily move between different floors, walkway escalators are often used in airports, train stations, and large exhibition centers to facilitate movement across flat surfaces. They can be configured in straight or curved designs, allowing for flexibility in layout and space utilization. These systems are particularly beneficial in reducing fatigue for travelers who need to cover extensive distances. In addition to the primary types mentioned above, the escalator market also includes other configurations such as Crisscross escalators. These are designed to change the direction of travel, often used in complex architectural designs or where space constraints require innovative solutions. Other specialized escalators may cater to specific applications, such as those designed for outdoor use or in environments with unique safety requirements. In the Commercial sector, escalators are predominantly installed in shopping malls, office buildings, hotels, and entertainment venues. This segment is driven by the increasing construction of commercial spaces and the need for efficient vertical transportation to accommodate high foot traffic. Escalators in these settings enhance accessibility, improve customer experience, and comply with safety regulations, making them essential for modern infrastructure. The Public Transit segment includes escalators found in airports, train stations, and bus terminals. These escalators are crucial for facilitating the movement of passengers between different levels, especially in high-traffic areas. The demand in this sector is influenced by urbanization and the growing need for efficient public transportation systems. Escalators in public transit hubs are designed for durability and safety, often featuring advanced technology for monitoring and maintenance to ensure reliability during peak hours. The others category encompasses niche applications, such as escalators in sports arenas, amusement parks, and specialized facilities. These installations require unique designs or features tailored to specific user needs or architectural styles. The diversity in this segment reflects the adaptability of escalators to various environments, contributing to their overall market growth in the United States. The New Installation segment involves the deployment of escalators in various environments, including commercial buildings, public transit systems, and industrial facilities. This segment is driven by rapid urbanization, the construction of high-rise buildings, and the need for enhanced vertical transportation solutions in densely populated areas. Companies are increasingly focusing on energy-efficient and smart escalators that integrate IoT and AI technologies, enabling features such as predictive maintenance and real-time monitoring. This not only improves the operational efficiency of escalators but also enhances user experience by minimizing downtime and ensuring safety. The Maintenance & Repair segment is crucial for ensuring the longevity and safety of escalators. Regular maintenance is mandated by safety codes, and it includes inspections, repairs, and modernization of existing systems. This segment accounts for a significant portion of the market, as aging infrastructure necessitates ongoing upkeep to meet safety standards and operational efficiency. Companies are adopting advanced technologies for predictive maintenance, which helps identify potential issues before they lead to failures, thus reducing repair costs and enhancing service reliability. The others category encompasses various specialized services and modernizations that do not fall under standard new installations or maintenance. This includes retrofitting older escalators with modern technology, enhancing accessibility features, and implementing eco-friendly solutions. The focus on sustainability and compliance with regulations, such as the Americans with Disabilities Act (ADA), is driving demand in this segment.

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Nikita Jabrela

Business Development Manager

COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in United States (US) due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of United States (US) prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: United States (US) • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • United States (US) Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Type: • Parallel • Multi-parallel • Walkway • Others By Industrial Vertical: • Commercial • Public transit • Others By Solution: • New Installation • Maintenance & Repair • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.