Elevators and Escalators Market: Investment Analysis Opportunities, Size and Forecast to 2030
Market Analysis Market Research Future (MRFR) presumes the global Elevator & Escalator Market size was estimated at USD 77.86 billion in 2019 and is projected to reach USD 120.43 billion by 2027, at a CAGR of 6.3% from 2022 - 2030. Elevators and escalators are two unavoidable aspects of human life. Elevators and escalators are a must-have in any building due to the variety of malls and skyscrapers. Busy time schedules and an increased number of aging population necessitate the facility of escalators and elevators in residential apartments across the globe. According to the United States Census Bureau, the aging population (those over the age of 65) accounted for 8.5% of the overall global population in 2015, and this figure is expected to rise to 12.0% by 2030. The growing demand from end-use sectors such as residential, commercial, and hospitals is one of the key factors driving the elevators and escalators industry's growth. Furthermore, the government's i...