Smart Escalator Market Outlook:
Smart Escalator Market size was valued at USD 6.2 billion in 2024 and is expected to reach USD 12.4 billion by the end of 2037, registering around 8.2% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of smart escalator is evaluated at USD 6.6 billion.
The global sales of smart escalators are prompted by the supply chain of specialized materials and components. Asia Pacific is leading the production and supply of high-precision components. The study by the U.S. International Trade Commission (USITC) reveals that raw materials such as stainless steel, aluminum alloys, and rare earth elements are sourced from India and China. North America is dominating the final assembly of smart escalators, owing to the existence of high-tech companies.
Furthermore, the U.S. imports of electrical machinery and related parts, including the escalator control systems and motors, amounted to USD 144.8 billion in 2024. China captured the high crunch of this volume, nearly 32.0%. Also, as per the Eurostat trade database, the EU totaled more than €9.1 billion in escalator and elevator-related machinery imports in 2024. The EU is dependent on Japan and South Korea for AI-integrated control modules. Each region has a vital role in expanding the global trade operations of smart escalators.
Smart Escalator - Growth Drivers and Challenges
Growth Drivers
- Urbanization and transit infrastructure expansion: The swift rise in urbanization is leading to the increasing development of metros, airports, and malls. The UN-Habitat report highlights that nearly 69.0% of the global population is poised to reside in urban areas by 2030. The fueling demand for efficient vertical transit is projected to promote the sales of smart escalators in the years ahead. Delhi Metro Rail Corporation (DMRC) reveals that the deployment of AI-enabled escalators with crowd analytics is reducing the energy usage during off-peak hours by 15.4%. This draws the attention of smart escalator investors towards emerging economies.
- Government infrastructure investments and stimulus programs: The rise in public spending on infrastructure development and smart city projects is expected to fuel the sales of smart escalators. The U.S. Bipartisan Infrastructure Law invested USD 1.3 trillion for vertical mobility enhancements in transport systems in 2024. Also, the 14th Five-Year Plan of China drives high investments in smart public infrastructure, fueling demand for AI-driven vertical transport in Tier 2 and 3 cities. Thus, the boom in national infrastructure goals is poised to augment the trade of smart escalators during the study period.
Technological Innovations in the Market
The technological advancements are set to boost the revenues of smart escalator manufacturers during the study period. The infrastructure modernization trends are propelling the demand for innovative smart escalator technologies. In addition, the integration of AI and ML is poised to boost the productivity and effectiveness of smart escalators. The large-scale end users are leading the sales of AI and ML-powered smart escalators, owing to the increasing need for advanced mobility solutions. The table below reveals the current technological trends and their outcomes.
|
Technology Trend |
Sector |
Company & Tech Use Case |
Measured Impact / Metric |
|
Predictive Maintenance (AI) |
Public Transport |
Siemens Mobility, Vienna Metro |
29.4% fall in downtime |
|
IoT-Based Load Sensing |
Manufacturing |
Hitachi Smart Factory Escalators |
18.5% rise in material transport efficiency |
|
Cloud Monitoring Platforms |
Retail |
Thyssenkrupp MAX system in malls |
35.3% faster service response time |
AL and ML Integration in the Market
|
Company |
Integration of AI & ML |
Outcome |
|
Thyssenkrupp |
AI-driven digital twins for design simulations |
30.3% fall in development time |
|
KONE |
ML-powered logistics and supply chain forecasting |
15.5% reduction in supply chain costs |
|
Schindler |
Predictive maintenance using ML analytics |
29.3% drop in unexpected breakdowns |
Challenges
- Infrastructure readiness gaps: The poor infrastructure budgets can hinder the sales of smart escalators in price-sensitive markets. The study by the World Bank projects that only 27.2% of buildings in Sub-Saharan Africa have the potential to support smart infrastructure requirements. This big gap directly affects the sales of advanced mobility technologies, including escalators. Strategic collaborations and rising public spending are expected to fuel the trade of smart escalators in these regions in the years ahead.
- High CAPEX requirement: The high CAPEX requirement for the production of smart escalators is expected to limit the market entry of new companies. A considerable premium over conventional systems deters small-scale enterprises from investing in smart escalators. The end users in the budget constraints market also face smart escalators adoption challenges due to their high costs.
Smart Escalator Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.2% |
|
Base Year Market Size (2024) |
USD 6.2 billion |
|
Forecast Year Market Size (2037) |
USD 12.4 billion |
|
Regional Scope |
|
Smart Escalator Market Segmentation:
Application Segment Analysis
The public transportation segment is projected to account for 53.5% of the global smart escalator market share by 2037, owing to the growing investment in metro and railway infrastructure is boosting the sales of smart escalators. The emerging economies are most profitable for smart escalator producers. The U.S. Department of Transportation reveals the allocation of more than USD 1.1 trillion in transit modernization investments through 2037. This highlights that developed economies with modern public transportation upgrade needs are set to double the revenues of key market players in the year ahead. Furthermore, the ability of smart escalators to enable passenger flow analytics, remote diagnostics, and energy optimization, reducing annual maintenance costs by over 20.4% in pilot projects, is boosting their deployment in metro stations globally.
Installation Segment Analysis
The new installation segment is poised to capture 50.1% of the global market share throughout the forecast period. The rising smart city and airport infrastructure developments are accelerating the installation of smart escalators. For instance, India’s Smart Cities Mission is estimated to deploy AI-integrated escalators in over 100 cities, with a projected CAGR of 9.9% through 2037. This highlights that developing regions are expected to register high new smart escalator installation rates. Also, the rising greenfield infrastructure projects are estimated to augment the adoption of IoT-powered escalator technologies.
Our in-depth analysis of the global smart escalator market includes the following segments:
|
Segment |
Subsegment |
|
Type |
|
|
Installation |
|
|
Application |
|
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Smart Escalator Market - Regional Analysis
North America Market Insights
The North America smart escalator market is estimated to hold 33.5% of the global revenue share through 2037. The infrastructure upgrades and increasing public transportation investments are poised to promote the sales of smart escalators. The government-led digital transformation programs are also propelling the demand for smart escalators. Both Canada and the U.S. are actively participating in modernizing urban mobility infrastructure, which is fueling the installation of advanced escalators. Furthermore, the carbon-neutral building goals are pushing the sales of escalators with regenerative braking systems.
The U.S. market for smart escalators is poised to increase at a CAGR of 6.1% during the study period. The increasing private sector demand for energy-efficient, AI-enabled systems in commercial buildings and transit networks is opening lucrative doors for key market players. The Federal Communications Commission (FCC) states that the allocation of USD 65.5 billion under the Infrastructure Investment and Jobs Act aids in intelligent infrastructure upgrades and accessibility improvements in public transportation systems. This reflects that the supportive government policies and funding are estimated to fuel the trade of smart escalators in the coming years.
The rising urban mobility investments are energy-efficiency goals are promoting the sales of smart escalators in Canada. The government’s investment intention of more than CAD 8.5 billion toward digital infrastructure, including smart mobility and public infrastructure digitization, is likely to accelerate the production and commercialization of smart escalators. Further, the Telecom Alliance Canada reveals that the public-private partnerships targeting urban infrastructure innovation increased by 22.2%. The sustainability and green building trends are set to push the installation of smart escalators.
APAC Market Insights
The Asia Pacific market is anticipated to increase at a CAGR of 6.7% from 2025 to 2037 as rapid urbanization and a swift rise in the smart city projects are poised to fuel the demand for smart escalators. The massive digital transformation and ICT expansion investments are likely to drive innovations in escalator technologies. China, Japan, South Korea, and India are leading the sales of smart escalators. Urban mobility infrastructure modernization trends are expected to double the revenues of smart escalator manufacturers in the years ahead.
The swift rollout of smart city infrastructure and mass urbanization is fueling the sales of smart escalators in China. Technological trends are likely to increase the adoption of AI-enabled escalator monitoring systems in the government and transportation sectors. According to the study by the Ministry of Industry and Information Technology (MIIT), smart infrastructure projects have injected more than USD 200.5 billion into urban transport upgrades in 2024. The positive public funding is fueling the production and commercialization of smart escalators.
The India smart escalator market is expected to expand at a CAGR of 8.7% during the assessed period. The digital shift and the Smart Cities Mission are pushing the adoption of smart escalator technologies. The Ministry of Electronics and Information Technology (MeitY) reveals that the government's spending on smart escalator technologies increased by 64.5% between 2015 and 2023. Moreover, the growing public-private partnerships and rising capital expenditure by metros and railway authorities are fueling the installation of smart escalators in the country.
Key Smart Escalator Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The global smart escalator market is characterized by the presence of gigantic companies and the increasing emergence of start-ups. The leading companies are earning high gains through constant R&D, digital modernization, and the introduction of smart mobility solutions. They are focusing on the integration of AI and ML technologies to enhance predictive maintenance. Strategic collaborations with public entities are expected to offer high-earning opportunities for smart escalator manufacturers. The rising urban infrastructure projects are attracting smart escalator investors to boost their revenue shares.
Here is a list of key players operating in the global market:
|
Company Name |
Country of Origin |
Revenue Share 2024 |
|
Otis Worldwide Corporation |
USA |
12.6% |
|
Schindler Group |
Switzerland |
11.4% |
|
KONE Corporation |
Finland |
10.9% |
|
Thyssenkrupp AG |
Germany |
9.5% |
|
Hyundai Elevator Co., Ltd. |
South Korea |
4.7% |
|
Sigma Elevator Company |
South Korea |
xx% |
|
Johnson Lifts Pvt. Ltd. |
India |
xx% |
|
Express Lifts Ltd. |
UK |
xx% |
|
TK Elevator GmbH |
Germany |
xx% |
|
Stannah Lifts Holdings Ltd. |
UK |
xx% |
|
Kleemann Group |
Greece |
xx% |
|
Orona Group |
Spain |
xx% |
|
Eita Elevator (M) Sdn Bhd |
Malaysia |
xx% |
|
Electra Elevators Pty Ltd. |
Australia |
xx% |
|
Savaria Corporation |
Canada |
xx% |
Below are the areas covered for each company in the market:
Recent Developments
- In June 2024, TK Elevator expanded its MAX predictive maintenance solution for escalators and elevators. This upgrade led to a 10.4% revenue growth in its Indian operations in the third quarter of 2024.
- In February 2024, Otis Worldwide Corporation announced the launch of its Gen4 smart escalator series, powered with IoT-based predictive maintenance systems and real-time analytics dashboards. This innovation reported a 7.9% YoY increase in revenue for its digital services segment in the first quarter of 2024.
Author Credits: Parul Atri
- Report ID: 7798
- Published Date: Jun 24, 2025
- Report Format: PDF, PPT
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