The global elevator and escalator market is projected to cross the $105bn milestone by 2025 due to rising investment in commercial and residential infrastructure; increased focus by manufacturers on offering products with enhanced safety; and an increasing capital inflow into the real-estate sector, according to the latest report by TechSci Research, which is a research-based global management consulting firm. The “Global Elevator & Escalator Market By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, By Region, Competition Forecast & Opportunities, 2025’’ report also pointed to improving after sales services; proactive maintenance and modernisation of equipment; and the use of UltraRope elevator technology for high-rise buildings positively influencing the global elevator and escalator market in the coming years. In addition, the increasing adaptation of green strategies and sustainable products in elevators and escalators are expected to fuel elevator and escalator markets. In general, the global elevator and escalator market can be segmented based on the type, service, end-user, elevator technology, elevator door type, and region.In terms of type, the market can be bifurcated into elevators, escalators, and moving walkways. Elevators dominated the market in 2019 and are expected to maintain their market dominance during the forecast period, backed by the wide usage in the residential sector. READ MORE