Escalators & Moving Walkways Market Study by Trends Analysis and Geography Insights to 2025
Category: #headlines  By Rahul Varpe  Date: 2020-06-10
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Escalators & Moving Walkways Market Study by Trends Analysis and Geography Insights to 2025

Increasing air transport of freight and passengers owing to purchasing power parity and rise of global tourism has led to escalated airports demand since the last few decades. According to International Civil Aviation Organization (ICAO), Asia Pacific region, accounted for close to 33% of the world's ASKs (Available Seat Kilometers) in 2016 and is said to enjoy the largest market share. This is due to developing economies in this region, huge population, and increasing consumer income levels. These factors generate demand for new routes to various international cities, which in turn is said to fuel the airports demand in the coming years. These factors will foster the escalators & moving walkways market in this region.

The Escalators & Moving Walkways Market is anticipated to record its name in the billion-dollar space within seven years, by exceeding a revenue of USD 20 billion by 2025, with an anticipated CAGR of 4% through 2025.

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Based on revenue, parallel escalator segment will hold approximately USD 9 billion in 2025 of the overall escalators & moving walkways market share owing to its increasing applicability in the public transportation like airports, subways, transit systems, shopping malls, hotels, arenas etc. The moving walkways segment is said to account for a revenue share of over USD 3.5 billion in 2025. They are either horizontal or inclined planes used to cover short to medium distances with luggage or shopping trolleys. Unique tailor-made design with efficient smart operational modes and standard safety features offered by moving walkways will spur the demand in near future.

North America moving walkway market will reach close to USD 500 million in 2025 exhibiting growth with a CAGR of close to 3 %. Asia Pacific will hold the maximum share of around 40% in the escalators and moving walkways market by the end of forecast period. Rapid urbanization and rising demand for residential, institutional and commercial spaces due to large population will drive the regional escalators & moving walkways market in the coming years.

Escalators & Moving Walkways Market Growth Drivers: -

  • Demographic change across the globe
  • Rising number of airports and shopping malls
  • Increasing urbanization in the emerging economies

The retail application segment will capture a significant share of over 30% of the global escalators & moving walkways market in 2025 owing to increasing number of shopping malls, supermarkets, departmental stores etc. in emerging countries driven by changing demographics, sustainability concerns, and shift in purchasing pattern. The airport segment revenue will capture a market share of over 20% by the end of 2025 and will grow with a CAGR of over to 4% during the forecast spell.

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/escalators-and-moving-walkways-market

Escalators & Moving Walkways Market, By Application: -

  • Public transit
  • Airports
  • Retail
  • Institutional
  • Others

Increasing income level of consumers and dynamic lifestyle changes in various economies is leading to elevated shopping malls and supermarkets demand round the globe. Consumers now look for better ambience, convenience, marketing focus, infrastructure, as well as the safety and security during their shopping experience. They allocate different weightage according to each of these significant factors. Hence, mall developers are now focusing more on improving convenience and creating a better ambience. Installation of automatic staircases and sidewalks leads to easy accessibility to different floors leading to better distribution of customers to all corners of the mall. These factors are said to drive the escalators and moving walkways market in the coming years.

Know about Market growth in New Research and its Top growing factors by Key Companies like

KONE Corporation, Otis Elevator Company, Schindler, Mitsubishi Electric Corp., Fujitec, Thyssenkrupp AG, Hitachi LTD, Hyundai Elevator Company, Toshiba Corporation, Sigma Elevator Company, Stannah, Sicher Elevator Co. Ltd., Kleemann Hellas SA, Stein Ltd, Gulf Elevator & Escalator Co. Ltd.

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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