Industryresearch.biz has published a new research report on “Global Elevator and Escalator Market” to its database. This report covers the top regions and countries of the world, which shows a regional development status, including market size, share, revenue, and much more across the globe.
Aug 06, 2020 (The Expresswire) — Global “Elevator and Escalator Market” is a comprehensive research that provides information regarding Elevator and Escalator market size, trends, growth, cost structure, capacity, revenue and forecast 2026. This report also includes the overall study of the Elevator and Escalator Market share with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Elevator and Escalator industry and provides data for making strategies to increase Elevator and Escalator market growth and effectiveness. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the Elevator and Escalator market.
The global Elevator and Escalator market size was USD 34540 million and it is expected to reach USD 36550 million by the end of 2026, with a CAGR of 0.8% during 2021-2026.
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An Elevator, also called Lift in British English, is a type of transport equipment that efficiently carries passengers or freight between the levels of multistory building. Most modern elevators are propelled by electric motors, with the aid of a counterweight, through a system of cables and sheaves (pulleys). By opening the way to higher buildings, the elevator played a decisive role in creating the characteristic urban geography of many modern cities, especially in the United States, and promises to fill an indispensable role in future city development.
In generally, elevators include the escalators and the moving walkways. An escalator is a moving staircase used as transportation between floors or levels in subways, buildings, and other mass pedestrian areas. A moving walkway or moving sidewalk, travelator, is a slow moving conveyor mechanism that transports passengers across a horizontal or inclined plane over a short to medium distance. The different between the escalator and the moving walkway is the former has stairs and the latter is a flat or slant apron without stairs.
The Elevators and Escalators market is very concerted market; the revenue of top ten manufacturers accounts about 83% of the total revenue in 2017.
The leading manufactures mainly are Otis, Schindler, ThyssenKrupp, Kone and Mitsubishi Electric. Otis is the largest manufacturer; its revenue of global market exceeds 16.3% in 2017. The next is Schindler and ThyssenKrupp.
There are mainly three type product of Elevators and Escalators market: Elevator, Escalator and Moving Walkway.
Geographically, the global Elevators and Escalators market has been segmented into North America, Europe, China, Japan, India, Southeast Asia and RoW. China held the largest share in the global market, its revenue of global market exceeds 66.82% in 2017. The next is Europe.
Market Analysis and Insights: Global Elevator and Escalator Market
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Elevator and Escalator market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
This report also analyses the impact of Coronavirus COVID-19 on the Elevator and Escalator industry.
The major players in the market include:
The report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period of 2015 to 2019.