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Escalators & Moving Walkways Market slated to witness a phenomenal growth via infrastructure development across globe by 2024

Author : Rahul Varpe | Published Date : 2019-09-30 

The Escalators & Moving Walkways market report, added by Global Market Insights descriptively covers the present & future growth trends, in addition to highlighting the global expanse of this industry and elaborating the regional share and contribution of each region of the Escalators & Moving Walkways market. The study evaluates the competitive environment, strategies undertaken by prominent players, supply & demand analysis, and revenue growth statistics.

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An emerging revenue source for the escalators and moving walkways market is the installation of escalators in indoor and outdoor footbridges for encouraging commuters to utilize a safer way of crossing roads in busy areas. Budding tourism industry and expansion of international trade has instigated the development of bigger airports and along with it, established a key source of income for the escalators & moving walkways market. Ability to help in safe movement of people and their bags or luggage in communal settings has mainly driven the global escalators and moving walkways market, which is credited with accruing more than USD 15 billion remuneration in 2017. Due to the expansion of the transportation industry, bus and railway stations are developing and going beyond a single floor to accommodate operations or provide public resting areas.

With a slew of such advanced products & innovations in pipeline, the escalators & moving walkways market is estimated to register a 4% CAGR from 2018 to 2025. Growing expenditure on infrastructure development has propagated the escalators and moving walkways market, in conjunction with the rapid urbanization of cities and changing demographics. Elevated income levels of the working class population in several regions has stimulated investments in constructing structures that have advanced and comfort-raising amenities.

Escalators & Moving Walkways Market, By Product

  1. Escalators
  2. Moving Walkways

Escalators & Moving Walkways Market, By Application:

  1. Public transit
  2. Airports
  3. Retail
  4. Institutional
  5. Others

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With efforts being undertaken worldwide to build taller and wider structures which incorporate commercial and retail businesses, the escalators & moving walkways market has achieved extraordinary progress not only in terms of revenue but also technological advancement. Office plazas, multistorey malls, industrial buildings and large residential complexes are presenting the need for energy-efficient infrastructure to reduce the overall cost of occupancy. The recently launched Link escalators from Otis, a leading manufacturer of people moving products, demonstrates the potential of energy optimization in escalators.

Lately, people moving equipment have become obligatory features in modern public buildings such as hotels, shopping malls and airports, triggering evolution of the escalators & moving walkways market. While escalators allow for easy movement of people between floors of a building, moving sidewalks are essential in transporting people over short to medium distances, either along a level ground or at an inclined distance.

The highly competitive dynamics of the escalators & moving walkways market has enforced major players such as

  1. KONE Corporation
  2. Otis Elevator Company
  3. Schindler
  4. Fujitec
  5. Thyssenkrupp AG
  6. Hitachi Ltd

The underground railway system in London, also termed as the Tube, is a vast network of interconnected subway system, with stations having multiple floors and the deepest station being about 58.5 meters below ground. As such, the Tube is another example pointing out the importance of the escalators & moving walkways market in realizing safe commuting of millions of passengers that use public transport.

Related News: https://www.marketwatch.com/press-release/2019-2024-borehole-equipment-market-study-by-regional-outlook-and-growth-forecast-2019-09-30

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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