GITNUX REPORT 2024

Global Escalator Industry Booming: Market Size, Trends, and Projections

Unveiling the Dynamics of the Escalator Industry: Growth, Innovations, and Market Trends Revealed.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

Escalators can carry up to 6,000 people per hour

Statistic 2

The average escalator has a maximum theoretical capacity of 9,000 persons per hour

Statistic 3

The average cost of a commercial escalator ranges from $100,000 to $300,000

Statistic 4

The escalator industry employs over 150,000 people worldwide

Statistic 5

Energy-efficient escalators can reduce energy consumption by up to 20%

Statistic 6

The average escalator consumes between 7,000 and 12,000 kWh of electricity per year

Statistic 7

The first escalator was patented in 1892 by Jesse W. Reno

Statistic 8

The escalator market is expected to grow at a CAGR of 4.5% from 2022 to 2030

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The maintenance segment is expected to grow at a CAGR of 5.1% from 2022 to 2030

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The residential segment of the escalator market is projected to grow at a CAGR of 5.2% from 2022 to 2030

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The global escalator modernization market is expected to grow at a CAGR of 3.8% from 2021 to 2026

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OTIS is the world's largest manufacturer of vertical transportation systems

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Schindler Group held a market share of approximately 25% in the global escalator market in 2020

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The commercial segment held the largest market share of 62.3% in 2021

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The parallel escalator type segment accounted for 65.2% of the market share in 2021

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The spiral escalator segment is expected to witness the fastest growth rate of 5.1% from 2022 to 2030

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The global escalator market size was valued at USD 15.01 billion in 2021

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The global escalator modernization market is expected to reach USD 4.5 billion by 2026

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There are approximately 3 million escalators in operation worldwide

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The global escalator and elevator market is expected to reach USD 114.9 billion by 2028

Statistic 21

The escalator industry's revenue in the United States reached $3.9 billion in 2021

Statistic 22

The global escalator component market is projected to reach USD 4.8 billion by 2026

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The global escalator control system market is expected to reach USD 5.2 billion by 2025

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The global escalator drive market is expected to reach USD 2.1 billion by 2026

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The global escalator chain market is expected to reach USD 1.5 billion by 2026

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The global escalator lighting market is expected to reach USD 600 million by 2025

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The global escalator handrail market is projected to reach USD 900 million by 2026

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The global escalator step market is expected to reach USD 1.8 billion by 2026

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The global escalator comb plate market is expected to reach USD 400 million by 2025

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The global escalator skirt brush market is projected to reach USD 300 million by 2026

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The average lifespan of an escalator is 20-30 years

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Asia Pacific dominated the escalator market with a share of 46.2% in 2021

Statistic 33

China is the largest market for escalators, accounting for 60% of global demand

Statistic 34

The escalator market in India is expected to grow at a CAGR of 6.5% from 2021 to 2026

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The escalator market in Europe is expected to grow at a CAGR of 3.8% from 2021 to 2026

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The escalator market in the Middle East and Africa is projected to grow at a CAGR of 4.2% from 2021 to 2026

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The escalator market in Latin America is expected to grow at a CAGR of 3.5% from 2021 to 2026

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The escalator market in Japan is expected to grow at a CAGR of 3.2% from 2021 to 2026

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The escalator market in South Korea is projected to grow at a CAGR of 3.8% from 2021 to 2026

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The escalator market in Australia is expected to grow at a CAGR of 3.5% from 2021 to 2026

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The escalator market in Canada is expected to grow at a CAGR of 3.2% from 2021 to 2026

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The escalator market in Singapore is projected to grow at a CAGR of 4.0% from 2021 to 2026

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The escalator market in the United Arab Emirates is expected to grow at a CAGR of 4.5% from 2021 to 2026

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The escalator market in Brazil is expected to grow at a CAGR of 3.0% from 2021 to 2026

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The escalator market in Mexico is projected to grow at a CAGR of 3.3% from 2021 to 2026

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The escalator market in Turkey is expected to grow at a CAGR of 3.7% from 2021 to 2026

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Escalator-related injuries account for approximately 10,000 hospital visits per year in the United States

Statistic 48

The global escalator safety equipment market is expected to reach USD 1.2 billion by 2025

Statistic 49

The global escalator inspection market is expected to reach USD 3.5 billion by 2025

Statistic 50

The global escalator safety brake market is projected to reach USD 800 million by 2025

Statistic 51

Escalators typically move at speeds between 0.3 to 0.6 meters per second

Statistic 52

The typical angle of inclination for escalators is 30 degrees

Statistic 53

The average weight of an escalator is between 15,000 to 30,000 pounds

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The average escalator has about 40 steps visible at any given time

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The average escalator step weighs between 70 to 150 pounds

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The average escalator has a step width of 24 inches (60 cm) or 40 inches (100 cm)

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The average escalator has a handrail speed that is 2% faster than the step speed

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The average escalator has a rise (vertical travel) of 10 to 60 feet

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The average escalator motor power ranges from 7.5 to 40 horsepower

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The average escalator has a step depth of 15.75 inches (400 mm)

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The average escalator has a handrail width of 70-100 mm

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The average escalator has a step chain breaking strength of 13,000 to 20,000 pounds

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The average escalator has a maximum rise of 35 feet for a single unit

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The average escalator has a step speed of 0.5 meters per second

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The average escalator has a nominal width of 600 mm, 800 mm, or 1000 mm

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Summary

  • The global escalator market size was valued at USD 15.01 billion in 2021
  • The escalator market is expected to grow at a CAGR of 4.5% from 2022 to 2030
  • Asia Pacific dominated the escalator market with a share of 46.2% in 2021
  • China is the largest market for escalators, accounting for 60% of global demand
  • The commercial segment held the largest market share of 62.3% in 2021
  • The parallel escalator type segment accounted for 65.2% of the market share in 2021
  • The average lifespan of an escalator is 20-30 years
  • Escalators typically move at speeds between 0.3 to 0.6 meters per second
  • The typical angle of inclination for escalators is 30 degrees
  • Escalators can carry up to 6,000 people per hour
  • The first escalator was patented in 1892 by Jesse W. Reno
  • OTIS is the world's largest manufacturer of vertical transportation systems
  • Schindler Group held a market share of approximately 25% in the global escalator market in 2020
  • The maintenance segment is expected to grow at a CAGR of 5.1% from 2022 to 2030
  • Energy-efficient escalators can reduce energy consumption by up to 20%

In a world where stepping up your game takes on a whole new meaning, the escalator industry is on the rise – both literally and figuratively. With global escalator market statistics that could make your head spin, from the staggering USD 15.01 billion valuation in 2021 to the jaw-dropping 60% demand dominance of China, its clear that these moving stairways are more than just a way to elevate your commute. So, buckle up (or rather, hold onto the handrail), as we delve into the ups and downs of an industry thats always on the move, one step at a time.

Capacity

  • Escalators can carry up to 6,000 people per hour
  • The average escalator has a maximum theoretical capacity of 9,000 persons per hour

Interpretation

The escalator industry's ability to transport up to 6,000 individuals per hour is not just a testament to modern engineering, but also a reflection of our society's perpetual motion towards efficiency and convenience. With the average escalator holding the potential to accommodate a staggering 9,000 people every sixty minutes, one cannot help but marvel at the seamless integration of technology into our daily lives – propelling us ever upward, quite literally, into the realms of progress and innovation.

Cost

  • The average cost of a commercial escalator ranges from $100,000 to $300,000

Interpretation

In the world of escalators, it seems that the price tag for vertical transportation is just as steep as the stairs they aim to replace. With commercial escalators falling within the luxe range of $100,000 to $300,000, it's clear that riding in style doesn't come cheap. So, next time you find yourself ascending on one of these mechanical marvels, remember to hold onto the handrail and appreciate the costly convenience beneath your feet.

Employment

  • The escalator industry employs over 150,000 people worldwide

Interpretation

With over 150,000 individuals riding the career escalator in the escalator industry worldwide, it's clear that this sector is on the rise. From the ground floor to the penthouse, these professionals keep society moving forward, step by step. So next time you take a ride on an escalator, remember the hardworking individuals behind the scenes who are always on the up and up.

Energy Efficiency

  • Energy-efficient escalators can reduce energy consumption by up to 20%
  • The average escalator consumes between 7,000 and 12,000 kWh of electricity per year

Interpretation

In the world of escalators, it's not just about going up and down anymore - it's also about going green. With energy-efficient escalators boasting the ability to slash electricity consumption by up to 20%, it's clear that even these mechanical marvels can play a role in the fight against climate change. The average escalator chomping through a hefty 7,000 to 12,000 kWh of power each year might make you think twice before taking that lazy ride, but hey, at least now you can feel a little less guilty about skipping the stairs.

Historical Facts

  • The first escalator was patented in 1892 by Jesse W. Reno

Interpretation

The invention of the escalator by Jesse W. Reno in 1892 not only revolutionized the way we move vertically but also provided a much-needed lift to our daily commutes. While this may have marked the beginning of an era where we no longer had to laboriously climb stairs, one can't help but wonder if Reno's patent application had been on an upward trajectory all along. As we step onto these moving stairs, let us not forget the genius behind it and the uphill battle he must have faced in convincing the world that going up could be made easier with just a touch of innovation.

Market Growth

  • The escalator market is expected to grow at a CAGR of 4.5% from 2022 to 2030
  • The maintenance segment is expected to grow at a CAGR of 5.1% from 2022 to 2030
  • The residential segment of the escalator market is projected to grow at a CAGR of 5.2% from 2022 to 2030
  • The global escalator modernization market is expected to grow at a CAGR of 3.8% from 2021 to 2026

Interpretation

In a world where the only way is up, the escalator industry is steadily chugging along with an impressive growth trajectory. With maintenance becoming the new sexy and residential buildings reaching new heights, it seems that escalators are not just a means of going up and down, but a symbol of progress itself. And let's not forget about the global escalator modernization market, where old meets new in a dance of efficiency and sleek design. So, hold on tight and enjoy the ride, because these statistics show that the escalator industry is on the upswing, quite literally.

Market Leaders

  • OTIS is the world's largest manufacturer of vertical transportation systems
  • Schindler Group held a market share of approximately 25% in the global escalator market in 2020

Interpretation

In the cutthroat world of vertical transportation systems, competition is always moving up and down. With OTIS towering over the industry as the Goliath of escalator manufacturers, it seems like they have reached the highest rung. However, don't count out the Schindler Group just yet, holding a significant market share in 2020 with the agility of David taking on the giant. It's a real-life escalator showdown, where every step counts in this vertical battle of who can rise to the top floor of success.

Market Segmentation

  • The commercial segment held the largest market share of 62.3% in 2021
  • The parallel escalator type segment accounted for 65.2% of the market share in 2021
  • The spiral escalator segment is expected to witness the fastest growth rate of 5.1% from 2022 to 2030

Interpretation

In the thrilling world of escalators, the commercial segment reigns supreme, boasting a hefty 62.3% market share in 2021. It seems the parallel escalators are smoothly cruising alongside, claiming 65.2% of the escalator industry pie. Hold onto your handrails though, as the spiral escalators are set to spiral into the lead with a zippy growth rate of 5.1% from 2022 to 2030. Who knew these moving stairs could escalate into such a riveting competition for the top spot in the vertical transportation game?

Market Size

  • The global escalator market size was valued at USD 15.01 billion in 2021
  • The global escalator modernization market is expected to reach USD 4.5 billion by 2026
  • There are approximately 3 million escalators in operation worldwide
  • The global escalator and elevator market is expected to reach USD 114.9 billion by 2028
  • The escalator industry's revenue in the United States reached $3.9 billion in 2021
  • The global escalator component market is projected to reach USD 4.8 billion by 2026
  • The global escalator control system market is expected to reach USD 5.2 billion by 2025
  • The global escalator drive market is expected to reach USD 2.1 billion by 2026
  • The global escalator chain market is expected to reach USD 1.5 billion by 2026
  • The global escalator lighting market is expected to reach USD 600 million by 2025
  • The global escalator handrail market is projected to reach USD 900 million by 2026
  • The global escalator step market is expected to reach USD 1.8 billion by 2026
  • The global escalator comb plate market is expected to reach USD 400 million by 2025
  • The global escalator skirt brush market is projected to reach USD 300 million by 2026

Interpretation

The escalator industry is certainly on an upward trajectory, with staggering numbers that lift the spirits of both investors and commuters. It seems as though escalators are not just silently moving people from point A to point B, but also quietly raking in billions of dollars worldwide. From the sleek modernization market to the lucrative component markets, every aspect of the escalator seems to have its moment in the financial spotlight. Who knew that the simple act of stepping onto a moving staircase could generate such impressive figures? It's clear that the escalator isn't just a convenience; it's a thriving economic powerhouse paving the way for elevated experiences and sky-high profits.

Product Lifecycle

  • The average lifespan of an escalator is 20-30 years

Interpretation

Like a fine wine or a well-aged cheese, escalators also have a limited shelf life, with the average one clocking in at 20-30 years before retirement. These statistics not only shed light on the transient nature of our beloved moving staircases but also serve as a subtle reminder that even the most reliable of technologies eventually need a little TLC and retirement planning. So, the next time you step onto an escalator, take a moment to appreciate its journey through time and ponder the graceful aging process of our modern marvels.

Regional Market

  • Asia Pacific dominated the escalator market with a share of 46.2% in 2021
  • China is the largest market for escalators, accounting for 60% of global demand
  • The escalator market in India is expected to grow at a CAGR of 6.5% from 2021 to 2026
  • The escalator market in Europe is expected to grow at a CAGR of 3.8% from 2021 to 2026
  • The escalator market in the Middle East and Africa is projected to grow at a CAGR of 4.2% from 2021 to 2026
  • The escalator market in Latin America is expected to grow at a CAGR of 3.5% from 2021 to 2026
  • The escalator market in Japan is expected to grow at a CAGR of 3.2% from 2021 to 2026
  • The escalator market in South Korea is projected to grow at a CAGR of 3.8% from 2021 to 2026
  • The escalator market in Australia is expected to grow at a CAGR of 3.5% from 2021 to 2026
  • The escalator market in Canada is expected to grow at a CAGR of 3.2% from 2021 to 2026
  • The escalator market in Singapore is projected to grow at a CAGR of 4.0% from 2021 to 2026
  • The escalator market in the United Arab Emirates is expected to grow at a CAGR of 4.5% from 2021 to 2026
  • The escalator market in Brazil is expected to grow at a CAGR of 3.0% from 2021 to 2026
  • The escalator market in Mexico is projected to grow at a CAGR of 3.3% from 2021 to 2026
  • The escalator market in Turkey is expected to grow at a CAGR of 3.7% from 2021 to 2026

Interpretation

In a world where the only way is up, Asia Pacific stands tall as the escalator aficionado, showing off its dominant share of the market like the ultimate stairway to success. China reigns supreme, ascending to the throne with a staggering 60% of global demand, while other regions strive to step up their game with promising growth rates. From the graceful escalators of Japan to the bustling markets of India, the escalator industry is on an upward trajectory, proving that when it comes to elevating mobility, the sky is truly the limit. So, keep calm and escalate on, dear readers, for the world is yours to climb.

Safety

  • Escalator-related injuries account for approximately 10,000 hospital visits per year in the United States
  • The global escalator safety equipment market is expected to reach USD 1.2 billion by 2025
  • The global escalator inspection market is expected to reach USD 3.5 billion by 2025
  • The global escalator safety brake market is projected to reach USD 800 million by 2025

Interpretation

In a world where we aim to elevate ourselves both physically and financially, it seems escalators are inadvertently becoming a risky choice for some. With approximately 10,000 hospital visits per year in the United States due to escalator-related injuries, it's clear that safety on these moving stairs is a top concern. However, as the global escalator safety equipment market is predicted to soar to USD 1.2 billion by 2025, it appears that the industry is seeking to take a step in the right direction. With the escalator inspection market also expected to reach USD 3.5 billion and the safety brake market projected to hit USD 800 million by the same year, it seems that safety is not just a move in the right direction, but a lucrative one as well. Remember, when it comes to escalators, it's best to take both steps and precautions.

Technical Specifications

  • Escalators typically move at speeds between 0.3 to 0.6 meters per second
  • The typical angle of inclination for escalators is 30 degrees
  • The average weight of an escalator is between 15,000 to 30,000 pounds
  • The average escalator has about 40 steps visible at any given time
  • The average escalator step weighs between 70 to 150 pounds
  • The average escalator has a step width of 24 inches (60 cm) or 40 inches (100 cm)
  • The average escalator has a handrail speed that is 2% faster than the step speed
  • The average escalator has a rise (vertical travel) of 10 to 60 feet
  • The average escalator motor power ranges from 7.5 to 40 horsepower
  • The average escalator has a step depth of 15.75 inches (400 mm)
  • The average escalator has a handrail width of 70-100 mm
  • The average escalator has a step chain breaking strength of 13,000 to 20,000 pounds
  • The average escalator has a maximum rise of 35 feet for a single unit
  • The average escalator has a step speed of 0.5 meters per second
  • The average escalator has a nominal width of 600 mm, 800 mm, or 1000 mm

Interpretation

In the world of escalators, it's not just a step up – it's a whole science behind the seemingly simple act of moving people from one level to another. With escalators zipping along at speeds that would make some sprinters jealous and an average weight hefty enough to give your gym routine a run for its money, it's clear these machines mean business. Who knew that those seemingly innocuous steps we casually ascend and descend are actually intricately engineered beasts, complete with a step chain breaking strength that could rival a superhero's grip? So, next time you step onto one of these behemoths, remember, you're not just riding an escalator – you're taking a journey through the fascinating world of mechanical marvels.

References