Elevator & Escalator Market - Predicted Growth, Trends, Opportunity & Analysis
The growing construction of high-rise buildings and the increasing focus of the government on building smart cities are expected to fuel the growth of the Global elevator & escalator market over the coming years. According to TechSci report on, “ Elevator & Escalator Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2027 ”, the global elevator & escalator market stood at USD82473.94 million in 2021 and is expected to grow at a CAGR of 4.91% in the forecast period. The Important Elements of the Elevator & Escalator Market The market growth can be attributed to a number of factors such as the construction of taller buildings, the growing trend of a fast-track lifestyle, and increasing capital inflow into the real-estate sector. Moreover, with the growing urbanization, the demand for ease and comfort facilities like elevators and escalators has transitioned from a luxury to a necessity. In addition, th...