The global escalator market is anticipated to witness a substantial market growth in the future years, according to a report published by S&P consulting. KONE EcoMod and KONE InnoTrack are some ground-breaking innovations that offer, reliability, efficiency and safety for commuters. KONE InnoTrack is the first autowalk of its kind which does not contain pits. The state-of-the art design allows its installation on any floor with custom options such as shorten, modify the color, re-install and move it other location. KONE is thus constantly doling out several innovations for escalator and autowalk to turn them into more energy efficient. —
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Escalator market is driven by factors such as increasing demands by emerging economies and end-use industries coupled with upsurge in urbanization, progress in real estate and demand for efficient and prompt transportation systems.
Escalator market is segmented on the basis of verticals, service, technology and geography. Vertical segment includes commercial, residential and public transit. Commercial sector dominates the market growth in the forecast period in terms of revenue and market share. Escalator type is further segmented into walkaway, parallel and spiral. Parallel escalators are likely to dominate the market growth in the forthcoming period.
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Technology segment is trifurcated into machine less, hydraulic and traction. Hydraulic component dominated the market segment due to adoption of modernization approach for building escalators and elevator technology.
Geographical segmentation for escalator market includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific escalator market is anticipated to grow at a higher CAGR in the forthcoming period due to inflated demands from end-user industries and modernization of public infrastructure.
The key players in the escalator market include Kone Corporation, Otis Elevator Company, Thyssenkrupp AG, Schindler Group, Hitachi, Ltd., Fujitec, Toshiba Elevators and Building Systems Corporation, Mitsubishi Electric Corporation, SJEC Corporation, Hyundai Elevator Co., Ltd., Canny Elevator, Kleeman Hellas SA and Shanghai Mechanical.
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