Elevator & Escalator Market to Grow at a CAGR of 2.4% Through 2032, Driven by Urbanization and Service-Led Revenue Expansion, Reports Vyansa Intelligence [Yahoo! Finance]
Otis Worldwide Corporation (OTIS)
Company Research
Source: Yahoo! Finance
Global Elevator & Escalator Market is projected to grow at a CAGR of around 2.4% during 2026–2032. The market expansion is primarily supported by increasing urbanization, rising high-rise construction activities, and the growing importance of maintenance and modernization services across aging infrastructure globally. Vyansa Intelligence Logo Asia-Pacific dominated the global market in 2025, accounting for nearly 45% of total revenue, supported by rapid infrastructure development, expanding urban population, and strong construction activity across countries such as China, India, and Southeast Asia. Continued investments in smart cities and commercial real estate projects are further strengthening the region's leadership in the elevator and escalator market. Global Elevator & Escalator Market Key Takeaways The Global Elevator & Escalator Market is expected to grow from USD 105 billion in 2025 to approximately USD 124 billion by 2032. Elevators accounted for nearly 75% of the
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OTIS
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- 1/28/26 - In-Line
OTIS
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- 3/3/26 - Form 4
- 3/3/26 - Form 4
- 3/2/26 - Form 3
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