Elevator and Escalator Market Analysis, Business Development, Size, Share, Trends, Industry Analysis, Forecast 2016 – 2030
The global elevator and escalator market has grown steadily in recent years and is predicted to increase at a 6.90% CAGR between 2023 and 2030. In 2022, the market was worth USD 81.9 billion, and it is predicted to grow to USD 130.6 billion by 2030.The global elevator and escalator market is an essential segment of the construction and infrastructure industry, driven by urbanization, demographic changes, and technological advancements. As cities grow vertically and populations age, the demand for efficient vertical transportation solutions continues to rise. This article explores the current trends, challenges, and future outlook of the elevator and escalator market. Browse the full report at https://www.credenceresearch.com/report/elevator-and-escalator-market Market Overview The elevator and escalator market encompasses the manufacturing, installation, and maintenance of elevators, escalators, and moving walkways. As of 2023, the market is valued at approximately USD 100 billion