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

Market Overview

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 Europe Elevator and Escalator Market has experienced significant growth in recent years, driven by a combination of urbanization, infrastructure development, and technological advancements. As Europe continues to see an increase in high-rise buildings, commercial spaces, and urban residential complexes, the demand for reliable and efficient elevator and escalator systems is on the rise. The aging population across the region is also a key factor, as accessibility requirements in both public and private buildings are prompting the adoption of modern mobility solutions. Additionally, strict government regulations and safety standards are pushing the need for advanced and compliant elevator systems. The market is further propelled by innovations in energy-efficient and sustainable technology, as eco-conscious designs gain popularity among architects and developers. Manufacturers are focusing on enhancing the performance, safety, and aesthetics of elevator and escalator systems, while also improving energy efficiency to meet growing environmental concerns. The growing preference for smart and automated solutions is also shaping market dynamics, with digitalized features and IoT integration becoming increasingly prevalent. Overall, the Europe Elevator and Escalator Market is poised for sustained growth, driven by these interconnected trends, with increasing investments in infrastructure and building modernization projects.

Key Market Drivers

Aging Population and Accessibility Requirements 

Europe's aging population is another significant driver of the Elevator and Escalator Market. As the region's elderly population continues to grow, there is an increasing demand for buildings that are accessible and equipped with mobility solutions. Elevators, in particular, are crucial in ensuring that elderly individuals and those with mobility challenges can move between floors with ease. Government regulations and building codes across Europe now require the inclusion of accessible features in both public and private spaces, which has contributed to the growth of this market. In hospitals, nursing homes, residential buildings, and public transport stations, elevators and escalators are not only a matter of convenience but also essential for ensuring that these spaces cater to the needs of all individuals. This shift towards accessibility has made the installation of elevators and escalators a necessity in new building designs, while also driving upgrades and retrofitting in existing buildings to meet modern accessibility standards. As a result, the demand for elevator and escalator solutions tailored to older populations is accelerating, boosting market growth. As of 2021, there were around 200 million people aged 65 or over in Europe, accounting for approximately 20% of the population.

Technological Advancements and Smart Solutions

Technological advancements are reshaping the Europe Elevator and Escalator Market, making systems more efficient, safer, and smarter. The introduction of innovative technologies, such as IoT integration, smart sensors, and predictive maintenance, has enhanced the performance and reliability of elevator and escalator systems. Smart elevators, which can automatically detect and respond to user preferences, and integrate with building management systems to optimize energy consumption, are gaining popularity. Additionally, the ability to predict maintenance needs and reduce downtime through real-time monitoring has become a key selling point. These systems also improve safety, with features such as touchless controls, emergency communication systems, and advanced monitoring systems that ensure reliability and security for users. Manufacturers are also focused on improving energy efficiency with regenerative drives and energy-saving technologies, which are becoming increasingly important as the demand for sustainable building solutions grows. The adoption of such advanced systems not only reduces operational costs for building owners but also aligns with the growing trend of sustainability. As technological innovation continues to advance in the industry, the demand for elevators and escalators that offer both operational efficiency and smart features is expected to increase, further driving the market’s growth. The median age in Europe is increasing. According to Eurostat, the median age of the European Union population was 44.5 years in 2020 and is expected to reach 47 years by 2050.

Sustainability and Green Building Trends

Sustainability has become a central focus in construction and infrastructure development across Europe, significantly influencing the Elevator and Escalator Market. With rising environmental concerns, there is a growing emphasis on creating energy-efficient, environmentally friendly buildings that minimize carbon footprints. This trend is driving the demand for green elevators and escalators, which are designed to consume less energy and use eco-friendly materials. Regenerative drives, which allow elevators to recover and reuse energy, are becoming standard in new systems, making them more energy-efficient and reducing their environmental impact. Moreover, as European cities commit to sustainability targets, including net-zero carbon emissions and eco-friendly building certifications (such as LEED), there is a growing demand for elevator and escalator solutions that contribute to these goals. Building owners and developers are increasingly integrating these mobility solutions into their sustainable building strategies to meet regulations and appeal to environmentally conscious tenants and investors. Additionally, the focus on reducing energy consumption in the operation of elevators and escalators is leading to the development of more efficient systems that require fewer resources to operate. This growing demand for energy-efficient, sustainable solutions is one of the key drivers of the market's expansion, aligning with broader global trends toward environmental responsibility in building design and construction. By 2030, approximately one in three people in the European Union will be aged 60 or older.

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Key Market Challenges

High Installation and Maintenance Costs

One of the primary challenges in the Europe Elevator and Escalator Market is the high installation and maintenance costs associated with these systems. The initial investment required for the installation of elevators and escalators, particularly in complex or high-rise buildings, can be significant. Costs can vary depending on the design, technology, and specifications of the systems, with advanced, energy-efficient, and smart systems often being more expensive. Additionally, the complexity of installation, especially in older or retrofitted buildings, can result in increased costs due to structural adjustments and the need for specialized expertise. Beyond installation, the ongoing maintenance of elevators and escalators also presents a financial challenge for building owners. Regular servicing is essential for ensuring the safe and efficient operation of these systems, and failure to properly maintain equipment can lead to costly repairs or even system failure. As these systems are in continuous operation, maintenance costs, including parts replacement, servicing, and adherence to safety regulations, can accumulate significantly over time. For many building owners, particularly in cost-sensitive markets, these high upfront and long-term costs can be a deterrent, hindering the widespread adoption of modern elevator and escalator systems.

Integration with Existing Infrastructure

Another challenge faced by the Europe Elevator and Escalator Market is the difficulty of integrating new systems with existing infrastructure, particularly in older buildings. Many buildings, especially in historic urban centers across Europe, were not originally designed to accommodate modern vertical transportation systems. Retrofitting elevators and escalators into these structures requires careful planning, structural modifications, and the use of advanced technology to ensure compliance with modern safety standards and regulations. This process can be both time-consuming and costly, particularly when working with older buildings that may require significant upgrades to support the installation of new systems. In some cases, space constraints or architectural limitations can make it difficult to add these systems without compromising the integrity or aesthetic value of the building. Furthermore, retrofitting older buildings may require navigating complex regulatory frameworks that govern construction and renovation in certain European countries, which can further delay projects. The challenge of effectively integrating modern elevator and escalator systems into existing infrastructure remains a key barrier to market growth, especially for older properties that are increasingly being updated to meet contemporary needs.

Safety and Regulatory Compliance

Safety and regulatory compliance are significant challenges in the Europe Elevator and Escalator Market, as strict regulations and safety standards must be met for these systems to operate. Europe has some of the most stringent safety codes globally, with requirements varying across countries but generally focused on minimizing the risk of accidents and ensuring reliable operation. For manufacturers, maintaining compliance with these regulations can require significant investment in research and development to design systems that meet all necessary safety standards. Furthermore, the rapid pace of regulatory updates, particularly concerning accessibility and energy efficiency, presents a challenge for manufacturers in keeping products up to date with evolving legal frameworks. Building owners and operators also face the challenge of ensuring ongoing compliance with these safety standards, which requires regular inspections, maintenance, and certification of elevators and escalators. In some instances, non-compliance can result in costly fines, legal liabilities, and, more critically, safety risks for users. As safety concerns are a top priority, any delays in updating systems to meet new regulations or any failure to maintain compliance can lead to significant operational disruptions and potential reputational damage. Therefore, both manufacturers and building operators must invest considerable resources into ensuring that their products and operations adhere to rigorous safety and regulatory requirements, which can be both time-consuming and costly.

Key Market Trends

Increased Demand for Smart and Connected Systems

A prominent trend in the Europe Elevator and Escalator Market is the growing demand for smart and connected systems, driven by the rise of the Internet of Things (IoT) and automation technologies. Consumers and building owners are increasingly prioritizing elevator and escalator systems that offer enhanced efficiency, safety, and user experience. Smart elevators, which can integrate with building management systems, enable remote monitoring, predictive maintenance, and real-time diagnostics, improving overall operational performance. Additionally, IoT-enabled systems allow for seamless communication between various components of the building, optimizing energy consumption and reducing operational costs. Smart technologies also include features such as touchless controls, personalized user experiences, and real-time updates on wait times or maintenance schedules, which are becoming crucial for modern buildings. With growing awareness of energy efficiency and sustainability, building owners are also looking for ways to minimize energy consumption, and smart systems contribute to this by adjusting performance based on demand. The rise in demand for connected systems aligns with broader trends toward digitalization in construction and infrastructure. As a result, manufacturers are heavily investing in the development of IoT-enabled elevator and escalator solutions, which are becoming a key differentiator in the competitive European market, offering both convenience and long-term cost savings. As of 2021, over 60% of new buildings in Europe are built with at least one sustainable or energy-efficient design feature.

Sustainability and Energy Efficiency Focus

Sustainability and energy efficiency have emerged as major trends in the European Elevator and Escalator Market, driven by increasing regulatory pressures and growing environmental awareness. As Europe continues to prioritize carbon reduction and energy-efficient building solutions, the elevator and escalator industry is following suit by developing systems that align with green building standards. Energy-efficient elevators and escalators, such as those equipped with regenerative drives, reduce energy consumption by capturing and redistributing energy during operation, significantly lowering their environmental impact. Additionally, advancements in LED lighting, standby modes, and more efficient motors are contributing to the overall reduction in energy usage. These innovations not only align with sustainability goals but also help building owners reduce operational costs over time. Furthermore, with the growing trend of green building certifications like LEED (Leadership in Energy and Environmental Design) and BREEAM (Building Research Establishment Environmental Assessment Method), elevators and escalators are increasingly being designed to meet these rigorous environmental standards. The focus on sustainability is being driven by both consumer demand for eco-friendly products and government policies that push for the reduction of greenhouse gas emissions in the construction and infrastructure sectors. Consequently, energy-efficient and environmentally friendly elevators and escalators are becoming a vital component of modern building designs, reinforcing their role in Europe’s overall commitment to sustainability. Buildings are responsible for around 40% of energy consumption in the EU and 36% of CO2 emissions. 

Integration of Accessibility Features

The integration of enhanced accessibility features into elevators and escalators is another key trend shaping the European market. With Europe’s aging population and increasing focus on inclusivity, the demand for mobility solutions that cater to individuals with disabilities and reduced mobility is on the rise. Modern elevators are now being equipped with advanced accessibility features such as larger cabin sizes, voice-activated controls, and visual and auditory signals to accommodate people with visual and hearing impairments. Additionally, escalators are being designed with smoother, more secure steps and automatic handrails, allowing for safer and more comfortable travel for individuals with mobility challenges. Governments across Europe are implementing stricter accessibility regulations, requiring both new buildings and existing structures to comply with universal design principles that ensure mobility for all. As a result, building owners are increasingly investing in systems that meet these evolving standards, leading to an expansion of the accessibility-focused segment in the elevator and escalator market. Manufacturers are responding by integrating technologies like AI-powered touchless systems, and automated monitoring to provide enhanced support for users with disabilities. This trend is not only enhancing safety and comfort but also aligning with broader societal goals of creating inclusive environments, further bolstering the market’s growth in the region.

Retrofitting and Modernization of Existing Systems

The trend toward retrofitting and modernizing existing elevator and escalator systems is gaining momentum in the European market. As many buildings, particularly older ones, continue to age, the need for upgrading outdated and inefficient elevator and escalator systems has become more pronounced. Retrofitting allows building owners to enhance the performance, energy efficiency, and safety of existing systems without the significant costs of complete replacement. Modernization projects often include the integration of advanced technologies, such as smart controls, energy-efficient motors, and improved safety features like earthquake detection and emergency communication systems. This trend is especially prevalent in older urban areas and commercial buildings, where many elevator systems were installed decades ago and are no longer up to modern standards. In response to growing demand, manufacturers are offering comprehensive modernization packages that improve system performance and reduce downtime. Additionally, as regulatory requirements for energy efficiency and safety become more stringent, retrofitting becomes a cost-effective way for building owners to comply with new laws and regulations. Furthermore, modernization initiatives help buildings maintain their competitiveness in the market by offering upgraded services without the need for large-scale renovations. With rising construction and demolition costs, retrofitting is increasingly seen as a sustainable and economically viable solution, making it a significant trend in the European elevator and escalator market.

Segmental Insights

Type Insights

In 2024, the elevator segment dominated the Europe Elevator and Escalator Market and is expected to maintain its dominance throughout the forecast period. Elevators account for the largest share of the market due to their widespread use in a variety of applications, ranging from residential buildings to commercial, healthcare, and high-rise office spaces. The continued growth of urbanization and the increasing number of skyscrapers and multi-story buildings across Europe are key factors driving the demand for elevators. The aging population and growing need for accessibility solutions also contribute significantly to the demand, as elevators are essential for providing mobility solutions in both private and public spaces, especially for those with mobility challenges. Additionally, advancements in elevator technology, including the rise of energy-efficient, smart, and eco-friendly solutions, are further boosting the segment. These innovations cater to the growing demand for sustainability and cost-effective operational solutions. While escalators and moving walkways also play important roles, particularly in high-traffic areas like airports, shopping malls, and metro stations, the elevator segment's versatility and higher frequency of use in various building types position it as the leader. Furthermore, the increasing focus on the modernization and retrofitting of old elevators to meet new safety, energy efficiency, and accessibility standards continues to drive the elevator market's growth. With ongoing technological advancements, such as predictive maintenance, IoT integration, and voice-activated controls, elevators are becoming more efficient and user-friendly, making them even more integral to European building infrastructure. As demand for smart building solutions rises, the elevator segment's role in providing sustainable, reliable, and versatile vertical transportation is expected to continue dominating the market throughout the forecast period.

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Country Insights

In 2024, Germany dominated the Europe Elevator and Escalator Market and is expected to maintain its dominance throughout the forecast period. Germany's strong economic performance, advanced industrial sector, and high level of urbanization contribute significantly to its leadership in the market. The country’s robust construction industry, particularly in residential, commercial, and industrial infrastructure, drives the demand for elevators and escalators. As one of Europe’s largest economies, Germany has seen substantial investment in high-rise buildings, commercial developments, and modern infrastructure, all of which require efficient vertical transportation solutions. Furthermore, Germany’s commitment to sustainability and energy efficiency aligns with the increasing preference for energy-saving elevator and escalator systems, particularly machine room-less traction elevators, which are gaining popularity for their space-saving and energy-efficient features. Germany is also home to several leading elevator and escalator manufacturers, providing a strong domestic industry presence that supports market growth through both production and innovation. The country’s well-established regulatory framework, including stringent safety and accessibility standards, further fuels the demand for high-quality and compliant vertical transportation solutions. Additionally, Germany's aging population and emphasis on accessibility in public and private buildings have contributed to increased demand for elevators that cater to people with mobility challenges, further bolstering market expansion. While countries such as the United Kingdom, France, and Italy also show significant demand for elevator and escalator systems, Germany's central position in Europe, combined with its leading role in construction and technology, ensures its continued dominance in the market. With ongoing urban development and increasing investments in infrastructure modernization, Germany is poised to maintain its leadership position in the European elevator and escalator market throughout the forecast period.

Recent Developments

• In Feb 2025, KONE has been selected to equip London’s new purpose-built life sciences campus with advanced vertical transportation solutions. The project will feature KONE’s elevators and escalators, designed to enhance efficiency and sustainability. With a focus on accessibility, energy-saving technologies, and smooth operations, KONE's solutions will play a pivotal role in ensuring seamless movement within the campus. This partnership highlights KONE's commitment to providing cutting-edge solutions for high-demand, sustainable environments in major infrastructure developments across Europe.
• In Dec 2024, KONE has been chosen to supply vertical transportation solutions for the new emergency hospital in Västerås, Sweden, located in the Västmanland region. The hospital will be equipped with KONE’s advanced elevators and escalators, designed to improve efficiency and patient care in emergency situations. The solutions will ensure seamless movement throughout the facility, supporting its critical role in healthcare delivery. This collaboration underscores KONE’s commitment to providing innovative, reliable, and sustainable solutions in vital infrastructure projects across Europe.
• In Feb 2025, Mitsubishi Electric announced the launch of its new AI-powered elevator technology, set to improve passenger flow and energy efficiency in high-rise buildings. The system integrates artificial intelligence to optimize elevator scheduling and reduce wait times. This innovative solution reflects Mitsubishi Electric's commitment to advancing vertical transportation systems with smarter, more sustainable technologies. The company aims to enhance building management and sustainability while improving overall user experience, reinforcing its leadership in the global elevator and escalator market.
• In Jan 2025, Mitsubishi Electric has introduced a new regenerative drive system for its elevators, designed to enhance energy efficiency in buildings. This innovative system captures and redistributes energy during operation, reducing energy consumption and supporting sustainability goals. The technology aligns with Mitsubishi Electric's commitment to reducing environmental impact while improving building performance. By incorporating this regenerative drive system, the company continues to lead in providing eco-friendly, cost-effective solutions for vertical transportation in the global market.

Key Market Players

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

Report Scope:

In this report, the Europe Elevator and Escalator Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Europe Elevator and Escalator Market, By Type:

o   Elevator

o   Escalator

o   Moving Walkways

• Europe Elevator and Escalator Market, By Technology:

o   Tractor Elevator

o   Machine Room-less Traction Elevator

o   Hydraulic

• Europe Elevator and Escalator Market, By End User:

o   Residential

o   Commercial

o   Institutional Infrastructure

• Europe Elevator and Escalator Market, By Country:

o   France

o   United Kingdom

o   Italy

o   Germany

o   Spain

o   Belgium

o   Switzerland

o   Netherlands

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Europe Elevator and Escalator Market.

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Company Information

• Detailed analysis and profiling of additional market players (up to five).

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