Today, we delve into the fascinating world of Escalator Industry Statistics, uncovering trends, insights, and key metrics that shed light on this integral aspect of modern urban transportation systems. Join us as we explore the data behind escalator usage, maintenance, safety, and advancements in this dynamic industry.
The Latest Escalator Industry Statistics Explained
Approximately 16,500 escalators stand in the U.S., compared with around 86,000 in Europe.
The statistic provided suggests that there are significantly fewer escalators in the United States compared to Europe, with approximately 16,500 escalators in the U.S. and around 86,000 in Europe. This discrepancy in the number of escalators between the two regions indicates potential differences in infrastructure development, building codes, or public transportation systems. It may also reflect varying preferences or cultural norms regarding the use of escalators for vertical transportation. Overall, the statistic highlights a quantitative difference in escalator availability between the U.S. and Europe, which could have implications for factors such as convenience, accessibility, and urban planning in the respective regions.
The escalator industry was expected to be valued at $5,146.76 million in 2020.
The statistic that the escalator industry was expected to be valued at $5,146.76 million in 2020 indicates the estimated total market worth of the escalator sector for that specific year. This value represents the aggregated revenue generated by manufacturers, suppliers, and service providers within the escalator industry. It serves as a key metric to assess the industry’s economic significance and overall growth. The figure suggests a substantial market size, reflecting the widespread use of escalators in various settings such as airports, shopping malls, and transportation hubs, and highlighting the continuous demand for escalator products and services. The statistic also provides valuable insights for investors, policymakers, and industry stakeholders to make informed decisions and strategic plans based on the anticipated market value.
The global escalator market growth is set to increase by 2.7% CAGR from 2021 to 2027
This statistic indicates that the global escalator market is projected to experience a Compound Annual Growth Rate (CAGR) of 2.7% between 2021 and 2027. This growth rate represents the average annual increase in the market size over the specified period. The forecast suggests that the escalator market is expected to expand steadily during this time frame, driven by factors such as urbanization, infrastructure development, and technological advancements in the industry. This growth trend signifies opportunities for escalator manufacturers, suppliers, and other stakeholders to capitalize on the rising demand for vertical transportation solutions globally.
China is the largest market for escalators, with more than 125,000 units installed.
The statistic “China is the largest market for escalators, with more than 125,000 units installed” indicates that China leads globally in the installation and use of escalators. With over 125,000 units currently operational, it signifies a significant investment and demand for escalator technology within the country. This statistic suggests that there is a high level of urbanization and development in China, leading to a greater need for vertical transportation solutions in public spaces, commercial buildings, and transportation hubs. It also reflects the rapid growth and modernization of infrastructure in China, highlighting the country’s status as a major player in the escalator market worldwide.
Escalator manufacturers globally produced 1.5 million units in 2013.
The statistic ‘Escalator manufacturers globally produced 1.5 million units in 2013’ indicates the total number of escalators that were manufactured by companies around the world in the year 2013. This figure highlights the scale of escalator production and the demand for such transportation devices within that specific time frame. Such statistics are essential in understanding the growth and trends within the escalator manufacturing industry, providing insights into market dynamics, economic conditions, and technological advancements that influence the production and installation of escalators on a global scale.
Schindler and Kone together held nearly 50% market share of the global escalators and elevators market in 2019.
The statistic that Schindler and Kone together held nearly 50% market share of the global escalators and elevators market in 2019 indicates that these two companies collectively dominated half of the industry’s market share. This means that their combined sales and installations of escalators and elevators accounted for approximately half of all such products sold worldwide in 2019. This level of market concentration suggests that Schindler and Kone are major players in the industry and likely have significant influence over market dynamics, pricing, and competition within the escalators and elevators market.
Infrastructure development in Asia-Pacific is one of the key driving factors for the growth of the escalator market.
The statistic “Infrastructure development in Asia-Pacific is one of the key driving factors for the growth of the escalator market” suggests that the growth in the construction and modernization of infrastructure projects in the Asia-Pacific region has a significant impact on the escalator market. As countries in Asia-Pacific continue to invest in upgrading their transportation systems, commercial buildings, and public spaces, there is a growing demand for escalators to facilitate movement of people efficiently and safely. The expanding urbanization and increasing population in the region further contribute to the need for escalators in various settings. Therefore, the development and expansion of infrastructure play a crucial role in driving the growth of the escalator market in the Asia-Pacific region.
Replacements accounted for around 25% of the global escalator industry units in 2013.
This statistic indicates that in 2013, approximately one-fourth (25%) of the total number of escalators in the global industry were categorized as replacements. This suggests that a significant portion of the escalator market during that year was driven by the need to replace existing escalators rather than the installation of new ones. Factors such as aging infrastructure, technological advancements, and safety regulations may have contributed to the high level of replacements observed in the industry. Understanding this ratio of replacement units can provide valuable insights for industry stakeholders, manufacturers, and policymakers in assessing market trends and opportunities within the escalator sector.
The Middle East escalator market CAGR was forecasted to be 2.6% between 2021-2031.
The Middle East escalator market compound annual growth rate (CAGR) projected a growth rate of 2.6% for the period between 2021 to 2031. This means that on average, the escalator market in the Middle East is expected to increase by 2.6% each year during this time frame. This statistic indicates a relatively steady growth trajectory for the escalator market in the region over the next decade, suggesting a continued demand for escalators in various sectors such as commercial buildings, transportation infrastructure, and residential developments. The CAGR provides a useful way to understand and forecast the long-term growth potential of the escalator market in the Middle East region.
The global escalator market is projected to expand at a CAGR of 3.6% during the forecast period of 2018-2026.
This statistic indicates that the global escalator market is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.6% over the forecast period spanning from 2018 to 2026. A CAGR of 3.6% suggests a consistent and moderate growth rate for the escalator market over the specified time frame. This growth rate implies that the market is likely to expand steadily, with increasing demand for escalators in various sectors such as commercial buildings, transportation hubs, and residential complexes. Factors driving this growth could include urbanization, infrastructure development, and advancements in technology influencing the escalator industry.
Japan has the highest escalator to elevator ratio out of all countries.
The statistic suggests that Japan has the highest proportion of escalators compared to elevators among all countries. This ratio indicates that in Japan, there are more escalators relative to elevators for vertical transportation within buildings or facilities. This information may imply a higher prevalence or utilization of escalators in Japan compared to elevators as a means of moving people between different floors, possibly due to factors such as space constraints, aesthetic preferences, or efficiency considerations.
Innovation such as Internet of Things (IoT) in escalators could efficiently reduce downtime by up to 60%.
The statistic suggests that implementing innovative technologies such as the Internet of Things (IoT) in escalators has the potential to significantly reduce downtime by up to 60%. This indicates that by integrating sensors, connectivity, and data analytics into escalator systems, operators can monitor performance in real-time, proactively identify potential issues, and schedule maintenance more efficiently. By leveraging IoT technology, escalator downtime can be minimized, leading to improved reliability, increased operational efficiency, and ultimately enhancing the overall user experience.
In 2018, more than 15,000 total escalator units were installed globally.
The statistic “In 2018, more than 15,000 total escalator units were installed globally” indicates that a significant number of escalator units were added worldwide during that year. This figure reflects the continued urbanization and development of infrastructure in various regions around the world. The installation of over 15,000 escalator units suggests a growing demand for vertical transportation solutions to facilitate easier movement in public spaces such as malls, airports, and transit hubs. It also indicates economic activity and investment in construction projects globally. Overall, this statistic highlights the importance of escalators in modern society and their role in enhancing mobility and convenience for people in urban environments.
Escalator market sales in India projected to grow at a CAGR of over 7.5% between 2021 and 2026.
This statistic indicates that the sales of escalators in the Indian market are expected to increase steadily over the period from 2021 to 2026, with a projected Compound Annual Growth Rate (CAGR) of more than 7.5%. A CAGR is a useful measure to understand the annual growth rate of an investment or industry over a specified period of time. In this context, the CAGR suggests a positive growth trend in the demand for escalators in India, reflecting factors such as urbanization, infrastructure development, and increasing usage of escalators in commercial and public spaces. The projection of a CAGR exceeding 7.5% signifies a healthy and relatively robust expansion in the escalator market in India during the specified timeframe.
The Europe Escalator market holds the second-largest share in the global escalator market.
The statistic indicates that within the global escalator market, Europe holds the second-largest market share. This suggests that Europe is a significant player in the escalator industry, ranking behind only one other region or market in terms of sales, installations, or revenue generated from escalator sales. The fact that Europe holds such a substantial share points to a strong demand for escalators in the region, likely driven by factors such as urbanization, infrastructure development, and the need for efficient vertical transportation solutions within buildings. This statistic highlights the importance of the European market in the escalator industry and emphasizes the region’s influence and potential for escalator manufacturers and suppliers.
UK escalator market was valued at USD 183.6 million in 2017.
The statistic “UK escalator market was valued at USD 183.6 million in 2017” represents the total worth of the escalator market in the United Kingdom as reported in 2017. This value indicates the estimated total revenue generated by sales and services related to escalators within the specific market in that year. By providing this figure, it offers insights into the size and economic significance of the escalator industry within the UK, serving as a metric for evaluating the market’s growth, trends, and overall performance during that period. This statistic can be used by industry analysts, businesses, and policymakers to assess market opportunities, make strategic decisions, and track the sector’s financial health over time.
The commercial segment accounted for around 75% of the total market revenue in 2017.
This statistic indicates that in the year 2017, the commercial segment contributed significantly to the total market revenue, comprising approximately 75% of the overall revenue generated within the market. This suggests that businesses, institutions, and organizations operating within the commercial sector played a dominant role in driving the market’s financial performance during that period. The implication is that strategies and decisions made by commercial entities had a substantial impact on the overall health and growth of the market in 2017, making them a crucial component of the economy within that specific industry.
In 2018, the global escalator market was dominated by step type segment, holding over 80% of the total market share.
In 2018, the global escalator market was primarily driven by the step type segment, which accounted for over 80% of the total market share. This statistic indicates that step escalators were the most popular and widely used type of escalators in the market that year, surpassing other variations such as moving walkways or inclined escalators. The dominance of the step type segment suggests that this particular design met the needs and preferences of consumers, possibly due to factors such as efficiency, safety, or cost-effectiveness. Overall, this statistic highlights the significant market presence and influence of step escalators in 2018 and reflects the predominant choice among escalator users worldwide.
Conclusion
When examining the statistics of the escalator industry, it is clear that demand for escalators continues to rise globally. With urbanization, infrastructure developments, and advancements in technology, the escalator industry is expected to experience further growth in the coming years. These statistics highlight the importance of continuous innovation and improvement within the industry to meet the evolving needs of customers and ensure the safety and efficiency of escalator systems worldwide.
References
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