According to Arizton’s latest research report, the Europe elevator and escalator market growing at a CAGR of 2.63% during 2024-2030.
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Report Summary
Market Size by New Installations (2030): 164.03 Thousand Units
Market Size by New Installations (2024): 140.37 Thousand Units
CAGR – New Installations (2024-2030): 2.63%
Market Size by Installed Base (2030): 7.94 Million Units
Market Size by Modernization (2030): USD 2.97 Billion
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Segmentation by Carriage Type: Passenger And Freight
Segmentation by Capacity: 2- 15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons And Above
Segmentation by End-User: Commercial, Residential, Industrial, And Others
Segmentation by Machine Type: Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, And Others
Market Overview
The Europe elevator and escalator market is expected to grow steadily, supported by rapid urbanization, ongoing airport and railway expansion projects, and increasing investments in energy-efficient building renovations. These factors are driving the demand for modern elevator and escalator systems across the region. The tourism and hospitality sector is also contributing to market growth. In 2025, travel and tourism are expected to add around USD 2.1 trillion to the European Union’s GDP, accounting for 10.5% of the total economy. Additionally, European countries are making major investments in railway infrastructure, which is further boosting demand for vertical transportation solutions. However, the market faces some challenges, including rising construction and material costs, labour shortages, an ageing population, and limited housing supply. These issues may impact growth to some extent. Despite these challenges, the construction sector in Europe remains strong, driven by infrastructure development and modernization efforts, which will continue to support the elevator and escalator market in the coming years.
AI Integration Set to Transform Europe’s Elevator and Escalator Market
The growing adoption of Artificial Intelligence (AI) in the elevator and escalator industry is opening new opportunities across Europe, signaling a major shift in urban infrastructure modernization.AI-powered technologies are being used to enhance safety, efficiency, and user experience in both public and private transportation systems. By analyzing real-time data from sensors, AI systems can predict and prevent potential malfunctions, significantly reducing downtime and improving overall equipment reliability.
Leading companies such as KONE and Otis are already pioneering this shift. Otis, for instance, introduced its Gen3 digitally connected elevator, which features the Otis ONE IoT platform. This advanced system leverages cloud computing, Machine Learning (ML), and APIs to provide continuous updates and future-ready adaptability, highlighting the industry’s move toward intelligent, data-driven solutions designed to meet the evolving needs of modern cities. As AI integration becomes more widespread, it is expected to play a key role in shaping the future of vertical transportation in Europe.
Recent Vendor Activities
Infrastructure Growth Across Europe Accelerates Elevators and Escalators Market
Europe’s elevator and escalator market is witnessing strong transformation, fueled by increased public infrastructure investment across the region. Governments are channeling significant resources into upgrading ageing infrastructure, expanding transportation systems, and improving accessibility in public buildings. As cities modernize and new transport hubs are developed, the need for efficient vertical transportation solutions is growing rapidly. Elevators and escalators are becoming essential components in both new construction and renovation projects aimed at enhancing connectivity and user convenience. This surge in infrastructure development is expected to play a major role in driving long-term demand across the elevator and escalator industry in Europe.
Key Vendors
Other Prominent Vendors
Elevator Market Segmentation by
Machine
Carriage
Capacity
End-User
Escalator Market Segmentation by
Product Type
Segmentation by Region
Europe
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What Key Findings Will Our Research Analysis Reveal?
What will be the growth rate of the Europe elevator and escalator market?
How big is the Europe elevator and escalator market?
What is the number of installed bases in the Europe elevator and escalator market in 2024?
What are the key Europe elevator and escalator market players?
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