Escalators & Moving Walkways Market Size

Escalators & Moving Walkways Market Market Size

Escalators & Moving Walkways Market size surpassed USD 17 billion in 2022 and is anticipated to expand at 5% CAGR from 2032 to 2032 owing to the increasing urban population and rapid modernization across metro cities.

To support this demand, companies in the building & transportation sector are launching new projects like malls and railway stations that are equipped with modern machines and systems like moving walkways.

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High capital and maintenance costs associated with the installation and product usage could impede escalators & moving walkways market demand by 2032. The initial purchase costs, operational costs and maintenance costs of machines are high. This is primarily due to the use of modern & upgraded technology, the eco-friendly & sustainable designs, and the superior features of its mechanism. A high production cost will restrict new entrants into the market. Moreover, expensive initial investments & set-up costs could lead to limited product penetration.