Europe Elevators and Escalators Market to Witness 205.9 Thousand Units of New Installation by 2029 – Exclusive Research Report by Arizton

CHICAGO, April 3, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Europe elevators and escalators market is growing at a CAGR of 4.78% during 2023-2029. 

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The Europe Elevators and Escalators Market Report Scope   

Report Attributes   


Market Size by New Installations (2029)

205.9 Thousand Units

Market Size by New Installations (2023)

155.6 Thousand Units

CAGR (2023-2029) 

4.78 %

Market Size by Installed Base (2029)

7,770.7 Thousand Units

Historic Year


Base Year 


Forecast Year 


Market Dynamics    

  • Rising Residential Building Permits and Energy-Efficient Renovations to Drive New Installations and Modernization of the Europe Elevator and Escalator Market
  • Increasing Numbers of Housing Starts to Push Demand
  • Airport Expansion and Major Railway Projects in the Pipeline to Boost New Installations in the European Elevator and Escalator Market
  • Ensuring Accessibility of Disabled and Aged to Mandate Installation of Elevators


In 2023, the Europe elevators market witnessed a slower-than-expected growth, representing moderate year-on-year demand of 4.6% for the term 2023–2024 due to high raw material costs, neutral manufacturing activities, on account of geopolitical crises led to the energy crises in Europe. Elevators used in the residential sector accounted for the largest share of around 38.1% in 2023, pertaining to high government expenditure on construction projects.
The rapid pace of urbanization, coupled with substantial investments in airport expansions and railway projects, alongside a heightened focus on energy-efficient renovations, is set to drive the demand for elevators and escalators across Europe in the forthcoming years. Notably, the U.K. government’s ambitious plan to allocate USD 4.3 billion for the construction of 40 hospitals by 2030 signals a significant boost to the market. Implementing new guidelines aimed at standardizing hospital designs and leveraging modular construction methods to expedite the building process underscores the commitment to enhancing healthcare infrastructure. Additionally, the earmarking of USD 1 billion to upgrade facilities in existing 20 hospitals further bolsters market growth prospects. Meanwhile, Italy is poised to invest USD 7.8 billion in modernizing and augmenting the capacity of its docks by 2026. This funding primarily targets the enhancement of Italy’s main container ports to accommodate larger ships through dredging, new breakwaters, and improved road and rail connections, promising significant advancements in maritime infrastructure. Such strategic investments are anticipated to catalyze the expansion of the elevator and escalator market throughout Europe.

What’s Included in the Report?

  • Impact of COVID-19
  • CAGR for the forecast period 2023–2029
  • All types of tracked escalators and elevators.
  • Elevators are used in commercial buildings, residential buildings, industrial facilities, and other industries.
  • Home lifts are also considered under residential segment.
  • Other Industries for elevators include oil & gas, mining, marine and manufacturing, construction, recreational facilities, energy related projects and miscellaneous (example: elevators used to visit monuments, shrine(temples) and historic places).
  • Escalators are used in applications such as commercial buildings, public transit (metros, tram, subway, railway), and other industries (manufacturing, warehouse and logistics).
  • Moving walkways are considered under escalators, by type segment.
  • Volume within the country based on demand and supply.
  • Elevators and escalators new equipment’s are exported to other countries.
  • All the currency conversion is in US$, unless specifically stated.

The Europe Elevator and Escalator Market Report Encompasses Crucial Data, including:     

Market size and growth forecast for 10 years from 2020-2029             
CAGR (Compound Annual Growth Rate) during the forecast period: This metric provides insights into the annual growth rate of the Europe elevator and escalator market over the specified time frame.               
Detailed information on growth drivers: The report offers in-depth information on the factors that will propel the Europe elevator and escalator market growth from 2023 to 2029. This includes an analysis of various market influences.               
Precise estimation of market size: Accurate assessments of the Europe elevator and escalator market size and its contribution, focusing on key market segments.               
Predictions about upcoming trends and changes in consumer behavior: The report offers insights into anticipated trends and shifts in consumer behavior that are likely to impact the Europe elevator and escalator market, helping businesses prepare for future market dynamics.               
Geographical market growth: The report covers the development of the Europe elevator and escalator market landscape.             
Competitive landscape analysis: A thorough examination of the market’s competitive landscape is presented, including detailed information about companies operating in the Europe elevator and escalator market. This includes an overview of key players, their market share, strategies, and key developments.               
Analysis of growth challenges: The report includes a comprehensive analysis of factors that may pose challenges to the growth of companies in the Europe elevator and escalator market, providing a well-rounded view of the market dynamics.        

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Key Vendors

  • Otis
  • TK Elevator
  • Schindler
  • KONE
  • Mitsubishi Electric
  • Fujitec
  • Hyundai Elevator
  • Hitachi
  • Orona Elevators

Other Prominent Vendors

  • Titan Elevators
  • KÖHLER Elevator GmbH
  • Alimak
  • Stannah Lifts Holdings Ltd.
  • GMV Lifts
  • Cibes Lift Group
  • Ascensores Excelsior
  • Wittur Elevator Components
  • Doppler Lifts
  • AKE Elevators and Escalators
  • Ascensores Carbonell
  • SJEC
  • Morris Vermaport Limited
  • Pickering Lifts
  • MP Lifts
  • Schmitt + Sohn Lifts

Elevator Market Segmentation by

Machine Type

  • Hydraulic and Pneumatic
  • Machine Room Traction
  • Machine Room Less Traction
  • Others 
    • Climbing
    • Elevators
    • Industrial Elevators

Carriage Type


  • 2-15 Persons
  • 16-24 Persons
  • 25-33 Persons
  • 34 Persons and Above 


  • Commercial
  • Residential
  • Industrial
  • Others 
    • Public Transit
    • Institutional
    • Infrastructural

Escalator Market Segmentation by

Product Type

  • Parallel
  • Multi Parallel
  • Walkway
  • Crisscross


  • Public Transit
  • Commercial
  • Others
    • Institutional Sector
    • Infrastructure
    • Industrial


  • Europe
  • Germany
  • Italy
  • France
  • Spain
  • The U.K.
  • Greece
  • Turkey
  • Switzerland
  • Poland
  • Austria
  • Belgium

Key Questions Answered in the Report:  
How big is the Europe elevator and escalator market?
What will be the growth rate of the Europe elevator and escalator market?
What is the number of installed bases in the Europe elevator and escalator market in 2023?
What are the key opportunities in the Europe elevator and escalator market?
What are the key Europe elevator and escalator market players?

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