Material handling: elevators and escalators - Statistics & Facts

Worldwide sales of elevators and moving stairways are expected to grow to about 125 billion U.S. dollars by 2021. North America and Europe are the key maintenance and modernization markets worldwide. However, although Europe saw just shy of 150,000 elevator and escalator equipment orders in 2015, the highest growth was experienced in the Asia-Pacific market: Asia-Pacific represented more than two thirds of new installations worldwide. The Asia-Pacific region's strong increase in urbanization and a thirst for tall buildings is seen as the main driver of growth. At an estimated CAGR* of 7.6 percent between 2011 and 2019, the modernization market bears the greatest potential for growth, while the installation segment is expected to have a CAGR of 4.2 percent.

The leading suppliers of elevators and escalators include the Finnish company Kone, Switzerland-based Schindler Group, as well as Connecticut-headquartered Otis Elevator Company, a subsidiary of United Technologies Corporation.

* The abbreviation CAGR stands for compound annual growth rate.

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Material handling: elevators & escalators

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