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Europe Elevator And Escalator Market
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Europe Elevator And Escalator Market

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Europe Elevator and Escalator Market - By Type (Elevator, Escalator, Moving Walkways); By Service (New installation, Maintenance & Repair, Modernization); By Technology (Tractor Elevator, Machine Room-less Traction Elevator, Hydraulic); By End User (Residential, Commercial, Institutional Infrastructure); By Country (Germany, UK, Italy, France, Spain, the Netherlands, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: February 2023
  • Report ID: BWC23138
  • Available Format: PDF
  • Page: 200

Report Overview

An increasing demand from growing elderly population and people with impairments for improved mobility solutions across high-rise buildings and continuous migration of people to cities are projected to propel the expansion of Europe elevator and escalator market during the forecast period between 2023 and 2029.

Europe Elevator and Escalator Market - Industry Trends & Forecast Report, 2029

Europe elevator and escalator market size is expected to grow at a CAGR of 5.24% during the forecast period between 2023 and 2029. Major growth drivers for Europe elevator and escalator market include growing emphasis on high-rise building development, growing need for reduce energy consumption in buildings and increasing migration of a large population. Vertical transportation systems, such as elevators, have become regular component of modern buildings across Europe due to their capacity to improve access to all regions of the structure. Efficient elevator systems are becoming increasingly important for safer and more comfortable access to various floors of buildings, especially as Europe's population ages. The market growth is being driven by the growing requirement for elevator modernization in Europe's aging infrastructure. The increasingly aging of the baby boomer and geriatric populations, as well as the number of people with impairments, will increase demand for improved mobility solutions such as elevators.

In Europe, the government has suggested that national methods be used to ensure that all floors of existing and under-construction buildings remain accessible to people with disabilities, such as ensuring that there is one elevator in each new building for wheelchair-bound individuals. Also, increasing environmental concerns have raised demand for eco-friendly solutions. Consumer expectations for value-added products for elevators, escalators, and moving walkways are progressively evolving towards premium green building materials. The adoption of green building materials can greatly reduce emissions. These materials aid in energy conservation. Achieve sustainability, lower emissions, and protect the environment.

Europe Elevator and Escalator Market – Overview

The primary goal of using elevators and escalators is to increase vertical transit efficiency. A closed cabin powered by electric motors that either drive traction wires, counterweight systems, or pump hydraulic fluid to lift a cylindrical piston is what an elevator is. Elevators are practical vertical transportation solutions since they can utilize urban space efficiently and allow everyone to move around in buildings. The two main types of elevators discussed in this paper are passenger elevators and freight elevators. An escalator is a moving stairway or a conveyor transit system that transports people between levels of a building. Traditionally, the device is made consisting of a motor-driven chain of individual, linked steps that move up and down on rails, allowing the step treads to remain horizontal.

Europe Elevator and Escalator Market

Growth Drivers

Massive Urban Redevelopment Projects across Türkiye and Ukraine

Major companies in Europe elevator and escalator market are expected to gain from significant opportunities provided by the massive urban infrastructure redevelopment projects in earthquake-hit Türkiye and war-ravaged Ukraine.

On February 06, 2023, a 7.8-magnitude of earthquake hit Türkiye and Syria, killing tens and thousands of people and severely damaging infrastructure in cities and villages across its fault line. The President of Türkiye announced that the government would engage in a comprehensive construction program to rebuild cities with safety and sustainability. Analysts estimated that the urban redevelopment across Türkiye post the earthquake would provide huge opportunities for the construction and related industries in total investment of more than USD 250 billion.

In Ukraine, Russia’s war in the country has been continuing for more than a year now. Consequently, infrastructure across Ukraine has been severely damaged. In September 2022, Ukraine government, the European Commission, and the World Bank, along with their partners estimated the cost of Ukraine’s reconstruction and recovery would be about USD 350 billion. As the war continues, the cost is anticipated to escalate.

Massive urban redevelopment and recovery projects across Türkiye and Ukraine are expected to provide lucrative growth opportunities for construction and supplementary industries. It, in turn, is projected to aid the growth of Europe elevator and escalator market during the forecast period between 2023 and 2029 and beyond.

Increasing Adoption of Technology Advancements

As a result of the growing migration of a large and diverse population base from rural areas to established cities, there has been a spontaneous need for infrastructure development, which includes the construction of high-rise buildings and infrastructure, as well as the need to cater to the emerging population's accommodation needs. According to UN Department of Economic and Social Affairs statistics, the urban population is expected to exceed 60% of the global population by the end of 2030. This preliminary figure is predicted to climb to 68% by the end of the projection year of 2050, increasing demand for the elevators and escalators. As large investments have been made in commercial and residential infrastructure projects, the need for elevators and escalators rises, resulting in market growth. Rapid urbanization, population growth, and changing lifestyle patterns are driving demand for elevators and escalators. It is expected to drive Europe elevators and escalators market during the forecast period.

Restraints

Uncertainties and Risk Regarding Economy

Economic growth and the building industry have an impact on the elevators and escalators business. Residential and non-residential construction activities are the primary drivers of demand for these materials. Although the world economy has begun to recover from the pandemic, uncertainties, and hazards persist. The region's economic downturn has a direct impact on various macroeconomic parameters, including employment, company activity, consumer confidence, disposable income, and interest rates. It may have a detrimental influence on construction investment and, as a result, on the growth of the elevators and escalators market.

Impact of COVID-19 on Europe Elevator and Escalator Market

COVID-19 had a detrimental impact on the Europe elevator and escalator market. Several businesses across Europe faced substantial setbacks as a result of the commencement of the novel corona-virus pandemic in early 2020, including the elevator industry, which was harmed by the region's large disruptions to construction activity. According to a Kone research, average elevator journeys in the top ten European cities fell by nearly 80% between February and April 2020. Despite a modest reduction in return to office buildings in October 2021, the Europe elevator market could see a potential recovery in the next years as the usage of office elevators rises steadily in major cities, such as Milan, Paris, Stockholm, Brussels, Helsinki, Munich, and Berlin.

Europe Elevator and Escalator Market

Segmental Coverage

Europe Elevator and Escalator Market – By Type

By type, Europe elevator and escalator market is divided into Elevator, Escalator, and Moving Walkways segments. The escalator segment is expected to hold the highest market share due to rising demand from commercial infrastructures, such as shopping centers, and corporate parks. As aircraft infrastructure construction expands, the demand for escalators and moving walkways also increases.

Europe Elevator and Escalator Market – By Service

Based on service, Europe elevator and escalator market is divided into New Installation, Maintenance & Repair, and Modernization segments. The new installation segment dominated the Europe elevator and escalator market by service. The implementation of new elevators and escalators in commercial and residential buildings, infrastructure projects, and other locations is often included in the new installation section. As the number of upcoming projects and the construction of new buildings increases, the segment is likely to dominate the market in terms of market share.

Europe Elevator and Escalator Market – By Technology

Based on technology, Europe elevator and escalator market is segmented into Tractor elevator, Machine Room-less (MRL) Traction Elevator, and Hydraulic. The MRL traction elevator segment held the highest share in Europe elevator and escalator market in 2022 and is expected to grow at the fastest rate during the forecast period. MRL elevators are gaining popularity in the market because they have a smaller footprint than standard elevators, requiring less space to install. They are also more energy-efficient and have a better weight carrying capability, making them appropriate for high-rise buildings. MRL elevators can also be put in existing structures, making them an affordable option for modernization projects. The Tractor elevator and Hydraulic category will continue to have a market share since they are more suited to a specific type of structure or application.

Europe Elevator and Escalator Market

Europe Elevator and Escalator Market – By End User

Based on end user, Europe elevator and escalator market is divided into Residential, Commercial, and Institutional Infrastructure segments. The commercial segment held the highest market share. Elevators and escalators are commonly seen in commercial structures such as retail malls, office buildings, and co-working spaces. The growing trend towards eco-efficiency, adaptable design, and safety is driving the commercial sector. Also, the demand for multiple co-working spaces has surged in recent years as self-employment has increased. As a result, changing investments in office space are expected to promote market expansion.

Europe Elevator and Escalator Market – By Country

Europe elevator and escalator market covers major countries in the region: Germany, UK, Italy, France, Spain, Netherlands, and Rest of Europe. Germany leads the region's market. Three large countries, including Germany, Russia, and the UK, are among the top 10 contributors to the global market. The region has seen a number of big remodeling and maintenance projects, as well as mergers and acquisitions among the key firms. Due to the fragmented and grey character of the business, the main global corporations hold a significant share, and the balance of the market players are original pieces of regional and other local-level manufacturers. Some organizations have a sizable market share due to their strong brand image, geographic reach, and large client base. The building industry is one of Europe's most important economic sectors. Large projects are in the works in countries such as Poland, Bulgaria, and Hungary, where the government intends to accelerate economic growth by emphasizing infrastructure investment as a strategic priority. The general economic forecast for the region remains good, owing to a developing economy and considerable political stability. Furthermore, the Eastern European region is becoming a more appealing location for FDI and investment, leading in an increase in business and commercial activity, with many multinational businesses relocating their headquarters there. Europe accounted for the second-largest share of the elevator industry, owing to growing building demand in emerging nations such as Croatia, Georgia, Romania, and Ukraine. Demand for new buildings and infrastructure is predicted to rise in these countries. Elevator demand in this region would rise due to rising urbanization, more consumer expenditure, and government efforts.

Competitive Landscape

Major players operating in Europe elevator and escalator market include KONE Corporation, Sigma Elevator Company, Otis Elevator Company, United Technologies, Schindler, Mitsubishi Electric Corporation, ThyssenKrupp AG, FUJITEC, Hitachi Ltd, and Hyundai Elevator Co., Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Billion

Market Coverage

Germany, UK, Italy, France, Spain, Netherlands, Rest of Europe

Product/ Service Segmentation

Type, Service, Technology, End User, Country

Key Players

KONE Corporation, Sigma Elevator Company, Otis Elevator Company, United Technologies, Schindler, Mitsubishi Electric Corporation, ThyssenKrupp AG, FUJITEC, Hitachi Ltd, Hyundai Elevator Co., Ltd 

 

By Type

  • Elevator

  • Escalator

  • Moving Walkways

By Service

  • New installation

  • Maintenance & repair

  • Modernization

By Technology

  • Tractor elevator

  • Machine room less traction elevator

  • Hydraulic

By End User

  • Residential

  • Commercial

  • Institutional Infrastructure

By Country

  • Germany

  • UK

  • Italy

  • France

  • Spain

  • Netherlands

  • Rest of Europe

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Europe Elevator and Escalator Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing Need for Reduce Energy Consumption in Buildings
        2. Growing Migration of a Large Population
      2. Restraints
        1. Uncertainty and Risk Regarding Economy
      3. Opportunities
        1. Rising Adoption of Green Building Codes and Energy-Efficient Products
      4. Challenges
        1. Stringent Government Regulations
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Europe Elevator and Escalator Market Overview
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
        1. Elevator
        2. Escalator
        3. Moving Walkways
      2. By Service
        1. New installation
        2. Maintenance & repair
        3. Modernization
      3. By Technology
        1. Tractor elevator
        2. Machine room less traction elevator
        3. Hydraulic
      4. By End User
        1. Residential
        2. Commercial
        3. Institutional Infrastructure
        4. Others
      5. By Country
        1. Germany
        2. UK
        3. Italy
        4. France
        5. Spain
        6. The Netherlands
        7. Rest of Europe
  5. Germany Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  6. UK Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  7. Italy Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  8. France Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  9. Spain Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  10. The Netherlands Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  11. Rest of Europe Elevator and Escalator Market
    1. Market Type & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Service
      3. By Technology
      4. By End User
  12. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Europe Elevator and Escalator Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  13. Impact of Covid-19 on Europe Elevator and Escalator Market
  14. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. KONE Corporation
    2. Sigma Elevator Company
    3. Otis Elevator Company
    4. United Technologies
    5. Schindler
    6. Mitsubishi Electric Corporation
    7. ThyssenKrupp AG
    8. FUJITEC
    9. Hitachi Ltd
    10. Hyundai Elevator Co., Ltd
    11. Other Prominent Players
  15. Key Strategic Recommendations
  16. Research Methodology
    1.  Qualitative Research
      1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

          

 

List of Figures

 

Figure 1       Europe Elevator and Escalator Segmentation

Figure 2       Europe Elevator and Escalator Market Value Chain Analysis       

Figure 3       Company Market Share Analysis, 2022

Figure 4       Europe Elevator and Escalator Market Size, By Value (USD Million), 2019–2029         

Figure 5       Europe Elevator and Escalator Market Size, By Value (USD Million), 2019–2029         

Figure 6       Europe Elevator and Escalator Market Share, By Type, By Value, 2019–2029 

Figure 7       Europe Elevator and Escalator Market Share, By Service, By Value, 2019–2029         

Figure 8       Europe Elevator and Escalator Market Share, By Technology, By Value, 2019–2029 

Figure 9       Europe Elevator and Escalator Market Share, By End User, By Value, 2019–2029         

Figure 10     Europe Elevator and Escalator Market Share, By Country, By Value, 2019–2029         

Figure 11     Germany Elevator and Escalator Market Size, By Value (USD Million), 2019–2029         

Figure 12     Germany Elevator and Escalator Market Share, By Type, By Value, 2019–2029         

Figure 13     Germany Elevator and Escalator Market Share, By Service, By Value, 2019–2029         

Figure 14     Germany Elevator and Escalator Market Share, By Technology, By Value, 2019–2029 

Figure 15     Germany Elevator and Escalator Market Share, By End User, By Value, 2019–2029         

Figure 16     UK Elevator and Escalator Market Size, By Value (USD Million), 2019–2029   

Figure 17     UK Elevator and Escalator Market Share, By Type, By Value, 2019–2029       

Figure 18     UK Elevator and Escalator Market Share, By Service, By Value, 2019–2029   

Figure 19     UK Elevator and Escalator Market Share, By Technology, By Value, 2019–2029         

Figure 20     UK Elevator and Escalator Market Share, By End User, By Value, 2019–2029 

Figure 21     Italy Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Figure 22     Italy Elevator and Escalator Market Share, By Type, By Value, 2019–2029    

Figure 23     Italy Elevator and Escalator Market Share, By Service, By Value, 2019–2029

Figure 24     Italy Elevator and Escalator Market Share, By Technology, By Value, 2019–2029         

Figure 25     Italy Elevator and Escalator Market Share, By End User, By Value, 2019–2029         

Figure 26     France Elevator and Escalator Market Size, By Value (USD Million), 2019–2029         

Figure 27     France Elevator and Escalator Market Share, By Type, By Value, 2019–2029 

Figure 28     France Elevator and Escalator Market Share, By Service, By Value, 2019–2029         

Figure 29     France Elevator and Escalator Market Share, By Technology, By Value, 2019–2029         

Figure 30     France Elevator and Escalator Market Share, By End User, By Value, 2019–2029         

Figure 31     Spain Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Figure 32     Spain Elevator and Escalator Market Share, By Type, By Value, 2019–2029   

Figure 33     Spain Elevator and Escalator Market Share, By Service, By Value, 2019–2029

Figure 34     Spain Elevator and Escalator Market Share, By Flow Rate, By Value, 2019–2029         

Figure 35     Spain Elevator and Escalator Market Share, By End User, By Value, 2019–2029         

Figure 36     The Netherlands Elevator and Escalator Market Size, By Value (USD Million), 2019–2029 

Figure 37     The Netherlands Elevator and Escalator Market Share, By Type, By Value, 2019–2029 

Figure 38     The Netherlands Elevator and Escalator Market Share, By Service, By Value, 2019–2029 

Figure 39     The Netherlands Elevator and Escalator Market Share, By Technology, By Value, 2019–2029 

Figure 40     The Netherlands Elevator and Escalator Market Share, By End User, By Value, 2019–2029 

Figure 41     Rest of Europe Elevator and Escalator Market Size, By Value (USD Million), 2019–2029 

Figure 42     Rest of Europe Elevator and Escalator Market Share, By Type, By Value, 2019–2029 

Figure 43     Rest of Europe Elevator and Escalator Market Share, By Service, By Value, 2019–2029 

Figure 44     Rest of Europe Elevator and Escalator Market Share, By Technology, By Value, 2019–2029 

Figure 45     Rest of Europe Elevator and Escalator Market Share, By End User, By Value, 2019–2029 

 

 

List of Tables

 

Table 1        Europe Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 2        Europe Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 3        Europe Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 4        Europe Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 5        Europe Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 6        Europe Elevator and Escalator Market Size, By Country, By Value, 2019–2029

Table 7        Germany Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 8        Germany Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 9        Germany Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 10      Germany Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 11      Germany Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 12      UK Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 13      UK Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 14      UK Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 15      UK Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 16      UK Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 17      Italy Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 18      Italy Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 19      Italy Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 20      Italy Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 21      Italy Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 22      France Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 23      France Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 24      France Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 25      France Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 26      France Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 27      Spain Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 28      Spain Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 29      Spain Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 30      Spain Elevator and Escalator Market Size, By Flow Rate, By Value, 2019–2029

Table 31      Spain Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 32      The Netherlands Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 33      The Netherlands Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 34      The Netherlands Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 35      The Netherlands Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 36      The Netherlands Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 37      Rest of Europe Elevator and Escalator Market Size, By Value (USD Million), 2019–2029

Table 38      Rest of Europe Elevator and Escalator Market Size, By Type, By Value, 2019–2029

Table 39      Rest of Europe Elevator and Escalator Market Size, By Service, By Value, 2019–2029

Table 40      Rest of Europe Elevator and Escalator Market Size, By Technology, By Value, 2019–2029

Table 41      Rest of Europe Elevator and Escalator Market Size, By End User, By Value, 2019–2029

Table 42      KONE Corporation Company Overview

Table 43      KONE Corporation Financial Overview

Table 44      Sigma Elevator Company Overview

Table 45      Sigma Elevator Company Financial Overview

Table 46      Otis Elevator Company Overview

Table 47      Otis Elevator Company Financial Overview

Table 48      United Technologies Company Overview

Table 49      United Technologies Financial Overview

Table 50      Schindler Company Overview

Table 51      Schindler Financial Overview

Table 52      Mitsubishi Electric Corporation Company Overview

Table 53      Mitsubishi Electric Corporation Financial Overview

Table 54      ThyssenKrupp AG Company Overview

Table 55      ThyssenKrupp AG Financial Overview

Table 56      FUJITEC Company Overview

Table 57      FUJITEC Financial Overview

Table 58      Hitachi Ltd Company Overview

Table 59      Hitachi Ltd Financial Overview

Table 60      Hyundai Elevator Co., Ltd Company Overview

Table 61      Hyundai Elevator Co., Ltd Financial Overview

Market Segmentation

By Type

  • Elevator

  • Escalator

  • Moving Walkways

By Service

  • New installation

  • Maintenance & repair

  • Modernization

By Technology

  • Tractor elevator

  • Machine room less traction elevator

  • Hydraulic

By End User

  • Residential

  • Commercial

  • Institutional Infrastructure

By Country

  • Germany

  • UK

  • Italy

  • France

  • Spain

  • Netherlands

  • Rest of Europe

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Frequently Asked Questions (FAQs):

Ans: Major factors driving the growth of Europe Elevator and Escalator Market include growing need for reduce energy consumption in buildings and increasing migration of a large population.
Ans: During the forecast period between 2023 and 2029, Europe Elevator and Escalator Market size is projected to grow at a CAGR of 5.24%.
Ans: The Escalator segment is expected to hold the highest market share in the Europe elevator and escalator market by type.
Ans: The Machine Room-less (MRL) Traction Elevator segment is expected to hold the highest market share in the Europe Elevator and Escalator Market by technology.
Ans: Key players in Europe Elevator and Escalator Market include KONE Corporation, Sigma Elevator Company, Otis Elevator Company, United Technologies, Schindler, Mitsubishi Electric Corporation, ThyssenKrupp AG, FUJITEC, Hitachi Ltd, and Hyundai Elevator Co., Ltd.