The Global elevators and escalators market size in 2020 was USD 77.8 billion, the global impact has been unexpected, with elevators, escalators & moving walkways witnessing a negative demand across all the regions as a result of the pandemic.
In 2020 the global market experienced a decline of -1.6% as compared to the average year-on-year growth. The global elevators and escalators market is expected to grow from USD 81.5 in 2021 to USD 110.7 in 2027 at a CAGR of 5.2% from 2021-27.
The massive spike in CAGR is due to increased market demand, and the industry is estimated to increase to pre-pandemic levels in the coming year.
Scope of the Study
The following synopsis is based on the report " Global Elevator, Escalator, and Moving Walkways Market- COVID-19 Impact and Outlook to 2027" published by Makreo Research and Consulting Firm. The report delves deeply into various parameters such as market size, segmentation, value chain analysis, and industry cause and effect analysis.
The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalize on untapped business potential in the specific geography.