Escalators & Moving Walkways Market Trend 2018-2025 By Application – Public Transit, Airports, Retail, Institutional
Date: 2018-12-11   Author: Rahul Varpe  Category: #market

Escalators & Moving Walkways Market Trend 2018-2025 By Application – Public Transit, Airports, Retail, Institutional

The highly competitive dynamics of the escalators and moving walkways market has enforced major players such as KONE Corporation, Otis Elevator Company, Schindler, Fujitec, Thyssenkrupp AG, Hitachi Ltd and many others to come up with critical product features for promoting their services.

A notable innovation in the escalators and moving walkways industry has been effected by KONE, which has displayed the opportunities created by connecting its products with the internet of things (IoT). For instance, in March 2018, KONE launched a cloud-connected escalator which, using the company’s 24/7 connected services, provides vast quantity of data from sensors and allows for remote monitoring, analysis of real-time information.

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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.

Lately, people moving equipment have become obligatory features in modern public buildings such as hotels, shopping malls and airports, triggering evolution of the escalators and moving walkways industry. 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.

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.

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An emerging revenue source for the escalators and moving walkways industry 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 and moving walkways market.

To elaborate, Dubai International Airport’s Terminal 3, opened in 2008, is the world’s largest airport terminal and consists of two sections, Concourse A having 11 floors and Concourse B having 10 floors. The extensive facility has 97 escalators and 82 moving walkways to handle the entire terminal’s capacity of handling 43 million people. With every airport around the world requiring passenger movement equipment and many more airports in the pipeline to be constructed, earnings for the escalators and moving walkways market from the airport segment is anticipated to grow at a 4% CAGR over 2018-2025.

Speaking further, the Link escalator has upgraded safety, quality and reliability, while its innovative ReGen drivers deliver up to 60% less energy consumption in comparison with those without regenerative drives. Designed for easy maintenance and longest uptime, the Link escalators comprise of an extremely efficient lubrication system which use 98% less oil than manual lubricant system.

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A significant characteristic of the Link escalators is that 90% of the materials used in their manufacturing are recyclable at end of life. With the additional feature of being easily diagnosed for assessing escalator performance or sensing equipment deterioration using Otis’ diagnostic tool, the Link escalators represent shifting trends in development of the escalators and the moving walkways industry.

However, the most interesting feature of the KONE’s product is that it is the first ever Twitter-connected escalator and enables people to witness how it operates by sending timely tweets, while a 360-degree and virtual reality video is also available. The KONE escalator is invariably transforming the product landscape of escalators market. With a slew of such advanced products & innovations in pipeline, the escalators and moving walkways market is estimated to register a 4% CAGR from 2018 to 2025.



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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. 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. ...

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