Europe Elevator and Escalator Market is expected to Grow with a CAGR of 6.1% through 2030F

The Europe Elevator and Escalator Market is rising due to increasing urbanization, demand for energy-efficient solutions, technological advancements, and the need for accessible and smart vertical transportation systems in residential, commercial, and public infrastructure in the forecast period 2026-2030F.

According to TechSci Research report, “Europe Elevator and Escalator Market - By Country, Competition, Forecast & Opportunities, 2030F”, Europe Elevator and Escalator Market was valued at USD 26.5 Billion in 2024 and is expected to reach at USD 38.14 Billion in 2030 and project robust growth in the forecast period with a CAGR of 6.1% through 2030. The Urbanization is one of the most prominent drivers of the Europe Elevator and Escalator Market. As cities across Europe continue to grow both in population and infrastructure, the demand for modern transportation solutions within high-rise buildings, commercial complexes, and residential apartments is increasing. High-rise buildings are becoming essential in densely populated urban centers where land availability is limited. This results in a growing need for elevators and escalators to facilitate vertical mobility. Urban infrastructure projects, including office spaces, mixed-use developments, and retail centers, are driving demand for these mobility solutions. The expansion of metro systems, public transit hubs, and airports also contributes to the market's growth, as escalators and elevators are vital for ensuring smooth movement of people in such environments. Additionally, many European cities are undergoing redevelopment and modernization projects, which include the installation of new elevators and escalators to meet the needs of a growing urban population. As Europe’s urban landscape evolves, these systems become indispensable in facilitating mobility, improving accessibility, and enhancing the overall functionality of buildings, leading to increased market demand.

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France is one of the fastest-growing countries in the Europe Elevator and Escalator Market due to several key factors driving its expansion. The country’s continuous urbanization, coupled with significant infrastructure development, creates a steady demand for advanced vertical transportation solutions. As French cities grow, particularly in metropolitan areas like Paris, the need for high-rise residential, commercial, and mixed-use buildings increases, which in turn boosts the demand for elevators and escalators. Moreover, France has a strong emphasis on sustainability, and this focus has translated into the adoption of energy-efficient and environmentally friendly elevator systems, such as machine room-less and regenerative drive technologies. The French government’s commitment to sustainability and green building certifications, such as HQE (High Environmental Quality), has further spurred the growth of eco-friendly vertical transportation solutions. Additionally, France’s aging population has led to an increased focus on accessibility, with elevators becoming a necessity in both public and private spaces. This trend, combined with an expanding elderly demographic, creates a growing market for elevators designed to accommodate people with mobility challenges. Furthermore, the modernization of old and historic buildings, especially in cities with rich architectural heritage like Paris, is a significant driver, as these buildings need to be retrofitted with modern elevator and escalator systems that comply with updated safety and energy standards. The French market also benefits from a strong presence of global elevator and escalator manufacturers, ensuring the availability of cutting-edge technology and continuous innovation. As these factors converge, France is well-positioned to experience sustained growth in the elevator and escalator sector, making it one of the fastest-growing countries in the European market.

In 2024, Based on End User, The commercial segment is the fastest-growing segment in the Europe Elevator and Escalator Market due to several driving factors. With the rapid expansion of the commercial real estate sector across Europe, including office buildings, retail spaces, and mixed-use developments, the demand for efficient vertical transportation systems has surged. The growing trend of urbanization, coupled with the need for high-rise commercial buildings in crowded cities, is a significant contributor to this growth. As commercial buildings increasingly feature multiple floors and complex layouts, elevators and escalators become essential to facilitate smooth and quick movement of people, thereby enhancing user experience and operational efficiency. Moreover, the focus on sustainability and energy efficiency in commercial buildings has led to a preference for advanced, eco-friendly elevator systems, such as machine room-less elevators and regenerative drive technology, which are both energy-efficient and space-saving. Commercial properties are also under pressure to comply with strict building codes and regulations, including those concerning accessibility and safety, further driving the need for reliable and compliant vertical transport solutions. Additionally, the growing popularity of smart buildings, equipped with IoT-enabled elevators and escalators that offer real-time monitoring and predictive maintenance, has boosted the demand in the commercial sector. This technological integration not only reduces operational costs but also aligns with the broader trend of digital transformation in commercial properties. As businesses prioritize productivity, sustainability, and enhanced user experience, elevators and escalators play a crucial role in meeting these demands, thus accelerating the growth of the commercial segment. With more investments in office spaces, shopping malls, and mixed-use commercial developments, this segment is poised to continue growing rapidly in the European market.

Key market players in the Europe Elevator and Escalator market are: -

• Otis Worldwide Corporation
• Schindler Holding Ltd.
• KONE Corporation
• Thyssenkrupp AG
• Mitsubishi Electric Corporation
• Hitachi Ltd.
• Toshiba Corporation
• LG Electronics Inc.

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“The Europe Elevator and Escalator Market presents several growth opportunities, driven by increasing urbanization, infrastructure development, and technological advancements. Growing demand for energy-efficient, space-saving, and sustainable elevator systems creates opportunities for manufacturers to innovate, especially with machine room-less and regenerative drive technologies. Additionally, the rising focus on accessibility due to an aging population presents a lucrative market for elevators equipped with advanced features for people with reduced mobility. The trend towards retrofitting and modernization of old buildings offers another significant opportunity, as older systems are upgraded to meet current safety, energy efficiency, and regulatory standards. Furthermore, the shift toward smart, IoT-enabled elevators that offer enhanced functionality and predictive maintenance is opening up new avenues in the market. With the increasing adoption of green building certifications, there is a growing demand for eco-friendly elevator and escalator solutions.Top of Form” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Europe Elevator and Escalator Market By Type (Elevator, Escalator, Moving Walkways), By Technology (Tractor Elevator, Machine Room-less Traction Elevator, Hydraulic), By End User (Residential, Commercial, Institutional Infrastructure), By Country, Competition, Forecast and Opportunities, 2020-2030F” has evaluated the future growth potential of Europe Elevator and Escalator Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe Elevator and Escalator Market.

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