Escalators Market Opportunity Analysis, Competitor Landscape, Growth at a CAGR of 5.3% Globally

Predominant deployments in the commercial sector projected to generate the highest market revenue.

PORTLAND, OR, UNITES STATES, October 19, 2021 /EINPresswire.com/ -- Development in real estate sector, rise in need for efficient and rapid transit system, and rapid urbanization are expected to drive the growth of global escalator market. In addition, emergence of green escalators, and technological advancements have increased significantly and are expected to provide lucrative opportunity for market growth.

Global Escalators Market Report, published by Allied Market Research, forecasts that the escalators market size to reach $5,146 million by 2022, growing at a CAGR of 5.3% from 2016 to 2022. Parallel escalators segment generated the largest market share in 2015 while the others segment is expected to register highest growth rate during the forecast period. Asia-Pacific is expected to be the largest market during the forecast period.

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Leading Players:

The key players include Schindler Group, Kone Corporation,Thyssenkrupp AG, Dover, Hyundai, Fujitec, Mitsubishi Electric, SIGMA, Otis, and Omega.
The commercial sector dominated the global market in 2015 due to high durability and ability to handle high passenger inflow. Furthermore,other industry segment is anticipated to grow at a CAGR of 6.2% during the forecast period due to ease in commuting over short distances and use of advanced safety features.

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By Type
• Parallel
• Multi-parallel
• Walkway
• Others (Crisscross and Spiral)
By Industry Vertical
• Commercial
• Public transit
• Others (Institutional Sector and Residential)

Key Findings of the Escalators Market:
• Crisscross and spiral type is expected to exhibit a significant growth in the escalators market.
• Commercial sector generated the highest revenue among other industry verticals pertaining to increase in adoption of escalators.
• Asia-Pacific is projected to exhibit a substantial growth during the forecast period.

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David Correa
Allied Analytics LLP
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