The increasing construction market, expansion of airports, upcoming metro projects, and other advancements have revolutionized the Escalators industry globally. The factors driving the global market are owing to the rising demand for escalators in the real estate sector, the need for efficient & rapid transit systems, and rapid urbanization. The increasing urbanization has boosted the demand for multi-storied buildings and Escalators in the public transportation sector. Moreover, the increasing disposable income and aging population in the urban areas have driven the market in counties like India and China. Owing to its proficiency and expertise in work, the demand for Escalators is increasing. The parallel Escalators are parallel circulating belts of ladders that are generally located in commercial establishments such as metro stations, shopping malls, and other public places. Initially, escalators function continuously for an extended duration, with increased energy consumption. However, Hitachi Ltd. has introduced the VX series escalators, which are efficient, safe, and enabled with LED lights and an automatic turn-off system. The benefit of this series is that it turns off handrail lightning and skirt guard lightning when there are no passengers to reduce power consumption.
Escalators are used for brisk and comfortable travel in shopping malls, departmental stores, hotels, and theatres. Such escalators are preferred for commercial applications as they are highly durable and able to handle high passenger inflow. Parallel escalators are commonly used for commercial purposes. For instance, in December 2014, Norway implemented bike Escalators which are the world’s first Escalators to improve the transportation facility over a small distance and reduce traffic population. However, other applications of Escalators are witnessed in large buildings like hotels and shopping malls.
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The Global Escalators Market is segmented based on Type, Industry Vertical, and Geography. Based on type it segments into parallel, multi-parallel, walkway, and others. Based on Industry Vertical the market bifurcates into commercial, public transit, and others.
Global Escalators Market outlook – APAC is dominating the global market among all the geographies and North America is projected to grow rapidly.
Based on Geography the market is segmented into North America, Europe, APAC, and RoW.
The key players in the market are Schindler Group, Kone Corporation, Thyssenkrupp AG, Dover, Hyundai Elevator, Fujitec, Mitsubishi Electric, SIGMA, and Otis, among others.
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