The global escalators and moving walkways market is poised for significant growth, driven by factors such as urbanization, infrastructure development, and technological advancements. This report provides an in-depth analysis of the market trends, growth drivers, and challenges from 2025 to 2032.
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As of 2023, the global escalators and moving walkways market was valued at approximately USD 15.5 billion8. The market is anticipated to grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 20327. By 2032, the market is projected to reach USD 25 billion.
Escalators: These are expected to remain a dominant segment, with a significant CAGR driven by their widespread use in commercial and public spaces. In 2023, escalators accounted for revenue of around USD 13.55 billion and are expected to reach USD 22.48 billion by 2032.
Moving Walkways: These are increasingly used in airports and transportation hubs to enhance passenger mobility. Their demand is also rising due to the expansion of retail and public transit infrastructure.
Public Transit: This segment is expected to grow significantly as cities invest in efficient mobility solutions. In 2023, public transit accounted for USD 6.61 billion and is projected to reach USD 10.79 billion by 2032.
Airports: The growth in air travel and airport expansions will continue to drive demand for moving walkways.
Retail: Shopping malls and commercial spaces are increasingly using escalators and moving walkways to enhance customer experience.
Institutional: This includes educational and healthcare facilities where accessibility is crucial.
Urbanization and Infrastructure Development: The increasing urban population and infrastructure projects in emerging economies are driving the demand for escalators and moving walkways.
Technological Advancements: Innovations in energy efficiency, smart connectivity, and safety features are attracting consumers and businesses.
Smart City Initiatives: The integration of escalators and moving walkways into smart city projects enhances urban mobility and accessibility.
High Initial Investment: The cost of installing escalators, particularly in large-scale projects, can be a barrier for developers with limited budgets.
Regulatory Compliance: Adhering to safety standards and regulations increases the complexity and cost of escalator projects7.
Alternative Technologies: The emergence of alternative vertical transportation systems may pose a challenge to traditional escalator manufacturers.
Asia Pacific: This region held the largest market share in 2024 and is expected to continue growing due to rapid urbanization and infrastructure development.
North America: The U.S. market is driven by urbanization and public transit expansion, with a CAGR of 4.5% from 2025 to 2030.
Europe: Countries like Germany, France, and the UK are investing in smart infrastructure, which will drive market growth.