United States Elevator & Escalator Market Strategic Research Report 2016-2031

Publication ID:

NAV1026001

Publication Date:

October 03, 2026

Pages:

193

Countries:

North America

$3,500.00

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Description

The United States elevator and escalator market is valued at approximately USD 16.1 billion in 2025 and is projected to grow at a 6.4% CAGR to approximately USD 23.4 billion by 2031. This figure is built from directly US-scoped sources and is identical, for every forecast year, to the United States figure shown within the companion Global Elevator & Escalator Market Strategic Research Report's own North America breakdown.

Real, Current Competitive Intelligence

KONE Corporation and TK Elevator announced a EUR 29.4 billion (approximately USD 34.4 billion) combination on April 29, 2026, creating the world's largest elevator and escalator company. TK Elevator's North America revenue represents roughly one-third of its total global revenue, making this transaction directly consequential for US customers and specifiers once it closes, pending regulatory approval.

Scope of the United States Elevator & Escalator Market Strategic Research Report

This report provides market sizing (value and volume) across type and application segments, the four US Census Bureau regions, and the ten largest state markets, through 2031, grounded in real, dated company disclosures and a transparently documented, independently-verified market-size methodology.

Segment by Type

Traction Elevators
Hydraulic Elevators
MRL Elevators
Escalators
Moving Walkways & Autowalks

Segment by Application

Residential Buildings
Commercial & Office Buildings
Transportation Infrastructure
Retail & Shopping Centres
Healthcare Facilities
Industrial & Logistics Facilities

Who Can Use This Report?

Public-sector planning and transportation agencies sizing vertical-transportation demand for transit, airport, and public-building projects
Corporate strategy and business development teams evaluating US market entry, expansion, or modernization-service growth
Procurement managers benchmarking US supplier landscapes across new equipment, modernization, and service contracts
Investment analysts assessing US-specific exposure within the broader, consolidating global competitive landscape

Table of Contents

1. Executive Summary
1. 1.1 Market Synopsis
2. 1.2 Key Findings
3. 1.3 Market Size Methodology and Cross-Check Against the Global Report
2. Industry Overview & Forecast
1. 2.1 Market Sizing Methodology and Data Foundation
2. 2.2 Headline Market Size and Forecast Trajectory
3. 2.3 Volume Analysis
4. 2.3.1 New-Equipment Installation Volume: Annual Series
5. 2.3.2 Volume Trend and Demand Drivers
6. 2.3.3 Price-Mix Effect: Why Value CAGR Exceeds Volume CAGR
7. 2.3.4 Sub-Segment and State-Level Volume Observations
8. 2.4 Installed Base Context and Modernization Implications
9. 2.5 Forecast Confidence and Scenario Considerations
3. Market Segmentation by Type
1. 3.1 Market by Type Overview
2. 3.2 Traction Elevators
3. 3.2.1 Segment Value and Market Position
4. 3.2.2 Volume Analysis — Traction Elevators
5. 3.3 Hydraulic Elevators
6. 3.3.1 Segment Value and Market Position
7. 3.3.2 Volume Analysis — Hydraulic Elevators
8. 3.4 MRL Elevators
9. 3.4.1 Segment Value and Market Position
10. 3.4.2 Volume Analysis — MRL Elevators
11. 3.5 Escalators
12. 3.5.1 Segment Value and Market Position
13. 3.5.2 Volume Analysis — Escalators
14. 3.6 Moving Walkways & Autowalks
15. 3.6.1 Segment Value and Market Position
16. 3.6.2 Volume Analysis — Moving Walkways & Autowalks
17. 3.7 Consolidated Volume Analysis — Total Market by Type
4. Market Segmentation by Application
1. 4.1 Overview and Segment Architecture
2. 4.2 Residential Buildings
3. 4.3 Commercial & Office Buildings
4. 4.4 Transportation Infrastructure
5. 4.5 Retail & Shopping Centres
6. 4.6 Healthcare Facilities
7. 4.7 Industrial & Logistics Facilities
8. 4.8 Cross-Segment Value and Volume Summary
5. Regional Market Forecast (Census Regions)
1. South United States
2. West United States
3. Northeast United States
4. Midwest United States
6. State-Level Market Forecast (United States)
1. 6.1 California
2. 6.1.1 Market Position and Strategic Significance
3. 6.1.2 Key Metropolitan Markets
4. 6.1.3 Macro Trends Shaping the 2026–2031 Forecast Period
5. 6.1.4 Competitive Landscape and Key Players
6. 6.1.5 Investment Themes for 2025–2031
7. 6.2 New York
8. 6.2.1 Overall Market Position and Strategic Significance
9. 6.2.2 Key Sub-Markets and Geographic Concentrations Within the Region
10. 6.2.3 Macro Trends Shaping the 2025–2031 Regional Outlook
11. 6.2.4 Competitive Landscape and Market Structure
12. 6.2.5 Investment Themes for 2025–2031
13. 6.3 Texas
14. 6.3.1 Regional Market Overview and Strategic Position
15. 6.3.2 Key Metropolitan Markets Within Texas
16. 6.3.3 Macro Trends Shaping the 2025–2031 Forecast
17. 6.3.4 Investment Themes and Strategic Priorities for 2025–2031
18. 6.3.5 Competitive Landscape Considerations
19. 6.4 Florida
20. 6.4.1 Market Position and Strategic Significance
21. 6.4.2 Key Metropolitan Markets
22. 6.4.3 Key Macro Trends Shaping the Forecast Period
23. 6.4.4 Investment Themes for 2025–2031
24. 6.4.5 Summary Outlook
25. 6.5 Illinois
26. 6.5.1 Market Position and Strategic Significance
27. 6.5.2 Key Market Segments and Demand Drivers
28. 6.5.3 Regulatory and Compliance Environment
29. 6.5.4 Competitive Landscape and Service Provider Dynamics
30. 6.5.5 Investment Themes and Strategic Outlook for 2025–2031
31. 6.6 New Jersey
32. 6.6.1 Market Position and Strategic Significance
33. 6.6.2 Key Macro Trends Shaping the 2025–2031 Outlook
34. 6.6.3 Competitive Landscape and Service Infrastructure
35. 6.6.4 Investment Themes for 2025–2031
36. 6.7 Washington
37. 6.7.1 Overall Market Position and Regional Significance
38. 6.7.2 Most Significant Sub-Markets and Urban Demand Nodes
39. 6.7.3 Key Macro Trends Shaping the 2025–2031 Outlook
40. 6.7.4 Investment Themes for 2025–2031
41. 6.7.5 Competitive Landscape Considerations
42. 6.8 Massachusetts
43. 6.8.1 Market Position and Strategic Significance
44. 6.8.2 Key Macro Trends Shaping the 2025–2031 Outlook
45. 6.8.3 Competitive Landscape and Investment Themes
46. 6.9 Pennsylvania
47. 6.9.1 Overall Market Position and Strategic Significance
48. 6.9.2 Most Significant Urban Markets Within Pennsylvania
49. 6.9.3 Key Macro Trends Shaping the 2025–2031 Forecast Period
50. 6.9.4 Investment Themes and Competitive Dynamics for 2025–2031
51. 6.10 Georgia
52. 6.10.1 Regional Market Position and Significance
53. 6.10.2 Key Macro Trends Shaping the 2025–2031 Outlook
54. 6.10.3 Competitive Landscape and Market Structure
55. 6.10.4 Investment Themes for 2025–2031
56. 6.10.5 Outlook Summary
57. 6.11 Rest of United States
58. 6.11.1 United States
7. Growth Drivers & Inhibitors
1. 7.1 Federal Infrastructure Funding and Named Public Projects
2. 7.1.1 Policy Foundation and Funding Scale
3. 7.1.2 Named Project Demand Catalysts
4. 7.2 Aging Installed Base and Modernization Demand
5. 7.2.1 Scale and Composition of the US Installed Base
6. 7.2.2 Modernization Market Projections and Revenue Implications
7. 7.2.3 Service Revenue as a Structural Growth Complement
8. 7.3 High-Rise Commercial and Residential Construction Trends
9. 7.3.1 Metropolitan Construction Activity as a Demand Foundation
10. 7.3.2 Multifamily Residential Construction and MRL Adoption
11. 7.4 Market Restraints and Challenges
12. 7.4.1 Interest Rate Environment and Residential Construction Sensiti…
13. 7.4.2 Installation Cost Barriers in Cost-Sensitive Applications
14. 7.4.3 Ongoing maintenance costs also represent a recurring deterrent…
15. 7.4.4 Supplier-Landscape Uncertainty from Industry Consolidation
16. 7.4.5 Data Availability and Research Scope Limitations
17. 7.5 Opportunities and White-Space Analysis
18. 7.5.1 Modernization-as-a-Service and Contract Innovation
19. 7.5.2 Smart and Connected Systems in Green-Building Procurement
20. 7.5.3 Public-Transit and Airport Infrastructure as a Structurally Gr…
8. Key Company Profiles
1. 8.1 Otis Worldwide Corporation
2. 8.1.1 Company Overview
3. 8.1.2 Key Products & Segments
4. 8.1.3 Financial Performance (2023–2025)
5. 8.1.4 Business Strategy
6. 8.1.5 SWOT Analysis
7. 8.1.6 Strategic Implications (2025–2031)
8. 8.2 Schindler Group
9. 8.2.1 Company Overview
10. 8.2.2 Key Products & Segments
11. 8.2.3 Financial Performance (2023–2025)
12. 8.2.4 Business Strategy
13. 8.2.5 SWOT Analysis
14. 8.2.6 Strategic Implications (2025–2031)
15. 8.3 Mitsubishi Electric Corporation
16. 8.3.1 Company Overview
17. 8.3.2 Key Products & Segments
18. 8.3.3 Financial Performance (2023–2025)
19. 8.3.4 Business Strategy
20. 8.3.5 SWOT Analysis
21. 8.3.6 Strategic Implications (2025–2031)
22. 8.4 Hitachi Building Systems
23. 8.4.1 Company Overview
24. 8.4.2 Key Products & Segments
25. 8.4.3 Financial Performance (2023–2025)
26. 8.4.4 Business Strategy
27. 8.4.5 SWOT Analysis
28. 8.4.6 Strategic Implications (2025–2031)
29. 8.5 Hyundai Elevator Co., Ltd.
30. 8.5.1 Company Overview
31. 8.5.2 Key Products & Segments
32. 8.5.3 Financial Performance (2023–2025)
33. 8.5.4 Business Strategy
34. 8.5.5 SWOT Analysis
35. 8.5.6 Strategic Implications (2025–2031)
36. 8.6 Fujitec Co., Ltd.
37. 8.6.1 Company Overview
38. 8.6.2 Key Products & Segments
39. 8.6.3 Financial Performance (2023–2025)
40. 8.6.4 Business Strategy
41. 8.6.5 SWOT Analysis
42. 8.6.6 Strategic Implications (2025–2031)
43. 8.7 Toshiba Elevator and Building Systems Corporation
44. 8.7.1 Company Overview
45. 8.7.2 Key Products & Segments
46. 8.7.3 Financial Performance (2023–2025)
47. 8.7.4 Business Strategy
48. 8.7.5 SWOT Analysis
49. 8.7.6 Strategic Implications (2025–2031)
50. 8.8 CANNY Elevator Co., Ltd.
51. 8.8.1 Company Overview
52. 8.8.2 Key Products & Segments
53. 8.8.3 Financial Performance (2023–2025)
54. 8.8.4 Business Strategy
55. 8.8.5 SWOT Analysis
56. 8.8.6 Strategic Implications (2025–2031)
57. 8.9 KONE Corporation
58. 8.9.1 Company Overview
59. 8.9.2 Key Products & Segments
60. 8.9.3 Financial Performance (2023–2025)
61. 8.9.4 Business Strategy
62. 8.9.5 SWOT Analysis
63. 8.9.6 Strategic Implications (2025–2031)
64. 8.10 TK Elevator (TKE)
65. 8.10.1 Company Overview
66. 8.10.2 Key Products & Segments
67. 8.10.3 Financial Performance (2023–2025)
68. 8.10.4 Business Strategy
69. 8.10.5 SWOT Analysis
70. 8.10.6 Strategic Implications (2025–2031)
9. Competitive Landscape
1. 9.1 Competitive Landscape Overview
2. 9.1.1 Estimated US Market Share — Top 5 OEMs (2025)
3. 9.2 Competitive Intensity Assessment
4. 9.2.1 Tier Structure and Revenue Ranges
5. 9.2.2 Capacity versus Demand Dynamics
6. 9.2.3 Pricing Environment
7. 9.2.4 Barriers to Entry and Exit
8. 9.3 Key Player Strategies & Positioning
9. 9.3.1 Strategic Group Mapping: A Tiered Competitive Landscape
10. 9.3.2 Differentiation Strategies Across Major Players
11. 9.3.3 Geographic Strongholds
12. 9.3.4 M&A and Partnership Activity, 2022–Present
13. 9.3.5 R&D and Technology Investment Trends
14. 9.4 Competitive Dynamics & Strategic Outlook
15. 9.4.1 Emerging Competitive Threats and New Entrant Dynamics
16. 9.4.2 Consolidation vs. Fragmentation Outlook
17. 9.4.3 Competitive Response Matrix
18. 9.4.4 Strategic Recommendations for 2025–2031
10. Porter's Five Forces Analysis
1. 10.1 Threat of New Entrants
2. 10.2 Bargaining Power of Buyers
3. 10.3 Bargaining Power of Suppliers
4. 10.4 Threat of Substitutes
5. 10.5 Competitive Rivalry
11. PESTLE Analysis
1. 11.1 Political Factors (Federal and State Infrastructure Policy)
2. 11.2 Economic Factors
3. 11.3 Social and Demographic Factors
4. 11.4 Technological Factors
5. 11.5 Legal and Regulatory Factors (Building and Safety Codes)
6. 11.6 Environmental Factors
12. SWOT Analysis
1. 12.1 Market-Level Strengths
2. 12.1.1 Massive and Structurally Captive Installed Base
3. 12.1.2 Deep Infrastructure Investment Momentum Backed by Federal Legi…
4. 12.1.3 Urbanisation, High-Rise Density, and Demographic Tailwinds
5. 12.1.4 Oligopolistic Market Structure Supporting Pricing Discipline
6. 12.1.5 Technologically Advanced Product Portfolio and IoT Readiness
7. 12.2 Market-Level Weaknesses
8. 12.2.1 Aging Installed Base Requiring Capital-Intensive Modernisation
9. 12.2.2 Skilled Labour Shortages and Union Wage Pressures
10. 12.2.3 Dependence on New Construction Cycles
11. 12.2.4 Limited Disclosed US-Specific Financial Transparency
12. 12.3 Strategic Opportunities
13. 12.3.1 Federal Infrastructure Pipeline
14. 12.3.2 Modernisation-as-a-Service Contract Models
15. 12.3.3 Smart Building Integration and Predictive Maintenance Monetisa…
16. 12.3.4 Healthcare and Senior Living Sector Expansion
17. 12.3.5 Reshoring and Supply-Chain Localisation Incentives
18. 12.4 External Threats
19. 12.4.1 Interest Rate Sensitivity and Commercial Real Estate Structura…
20. 12.4.2 Regulatory Complexity and Compliance Cost Escalation
21. 12.4.3 Supply Chain Disruption and Raw Material Cost Volatility
22. 12.4.4 KONE–TK Elevator Combination and Potential Market Reconfigur…
23. 12.4.5 Cybersecurity and Liability Exposure from Connected Systems
13. Future Trends & Outlook
1. 13.1 Smart Building and IoT-Enabled Maintenance Adoption in the Uni…
2. 13.2 Modernization-as-a-Service Contract Models
3. 13.3 Public-Transit and Airport Infrastructure Pipeline
4. 13.4 Long-Term Market Outlook (2032–2035)
5. 13.5 Investment and Supplier-Landscape Outlook

List of Exhinits:

3.1 Exhibit 3.1: Forecast of Traction Elevators (in USD Bn)
3.2 Exhibit 3.2: Forecast of Traction Elevators (in thou. units)
3.3 Exhibit 3.3: Forecast of Hydraulic Elevators (in USD Bn)
3.4 Exhibit 3.4: Forecast of Hydraulic Elevators (in thou. units)
3.5 Exhibit 3.5: Forecast of MRL Elevators (in USD Bn)
3.6 Exhibit 3.6: Forecast of MRL Elevators (in thou. units)
3.7 Exhibit 3.7: Forecast of Escalators (in USD Bn)
3.8 Exhibit 3.8: Forecast of Escalators (in thou. units)
3.9 Exhibit 3.9: Forecast of Moving Walkways & Autowalks (in USD Bn)
3.10 Exhibit 3.10: Forecast of Moving Walkways & Autowalks (in thou. units)
4.11 Exhibit 4.11: Forecast of Residential Buildings (in USD Bn)
4.12 Exhibit 4.12: Forecast of Residential Buildings (in thou. units)
4.13 Exhibit 4.13: Forecast of Commercial & Office Buildings (in USD Bn)
4.14 Exhibit 4.14: Forecast of Commercial & Office Buildings (in thou. units)
4.15 Exhibit 4.15: Forecast of Transportation Infrastructure (in USD Bn)
4.16 Exhibit 4.16: Forecast of Transportation Infrastructure (in thou. units)
4.17 Exhibit 4.17: Forecast of Retail & Shopping Centres (in USD Bn)
4.18 Exhibit 4.18: Forecast of Retail & Shopping Centres (in thou. units)
4.19 Exhibit 4.19: Forecast of Healthcare Facilities (in USD Bn)
4.20 Exhibit 4.20: Forecast of Healthcare Facilities (in thou. units)
4.21 Exhibit 4.21: Forecast of Industrial & Logistics Facilities (in USD Bn)
4.22 Exhibit 4.22: Forecast of Industrial & Logistics Facilities (in thou. units)
6.23 Exhibit 6.23: Forecast of United States (in USD Bn)
6.24 Exhibit 6.24: Forecast of Rest of United States (in USD Bn)
6.25 Exhibit 6.25: Forecast of United States (in thou. units)
6.26 Exhibit 6.26: Forecast of Rest of United States (in thou. units)
6.27 Exhibit 6.27: Forecast of Rest of United States (in USD Bn)
6.28 Exhibit 6.28: Forecast of Rest of United States (in USD Bn)
6.29 Exhibit 6.29: Forecast of Rest of United States (in thou. units)
6.30 Exhibit 6.30: Forecast of Rest of United States (in thou. units)
6.31 Exhibit 6.31: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.32 Exhibit 6.32: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.33 Exhibit 6.33: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.34 Exhibit 6.34: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.35 Exhibit 6.35: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.36 Exhibit 6.36: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.37 Exhibit 6.37: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.38 Exhibit 6.38: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.39 Exhibit 6.39: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.40 Exhibit 6.40: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.41 Exhibit 6.41: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.42 Exhibit 6.42: Forecast of Global Market YoY Growth Rate & CAGR Summary (in %)
6.43 Exhibit 6.43: Forecast of California (in USD Bn)
6.44 Exhibit 6.44: Forecast of California (in thou. units)
6.45 Exhibit 6.45: Forecast of California (in USD Bn)
6.46 Exhibit 6.46: Forecast of Rest of California (in USD Bn)
6.47 Exhibit 6.47: Forecast of California (in thou. units)
6.48 Exhibit 6.48: Forecast of Rest of California (in thou. units)
6.49 Exhibit 6.49: Forecast of New York (in USD Bn)
6.50 Exhibit 6.50: Forecast of New York (in thou. units)
6.51 Exhibit 6.51: Forecast of New York (in USD Bn)
6.52 Exhibit 6.52: Forecast of Rest of New York (in USD Bn)
6.53 Exhibit 6.53: Forecast of New York (in thou. units)
6.54 Exhibit 6.54: Forecast of Rest of New York (in thou. units)
6.55 Exhibit 6.55: Forecast of Texas (in USD Bn)
6.56 Exhibit 6.56: Forecast of Texas (in thou. units)
6.57 Exhibit 6.57: Forecast of Texas (in USD Bn)
6.58 Exhibit 6.58: Forecast of Rest of Texas (in USD Bn)
6.59 Exhibit 6.59: Forecast of Texas (in thou. units)
6.60 Exhibit 6.60: Forecast of Rest of Texas (in thou. units)
6.61 Exhibit 6.61: Forecast of Florida (in USD Bn)
6.62 Exhibit 6.62: Forecast of Florida (in thou. units)
6.63 Exhibit 6.63: Forecast of Florida (in USD Bn)
6.64 Exhibit 6.64: Forecast of Rest of Florida (in USD Bn)
6.65 Exhibit 6.65: Forecast of Florida (in thou. units)
6.66 Exhibit 6.66: Forecast of Rest of Florida (in thou. units)
6.67 Exhibit 6.67: Forecast of Illinois (in USD Bn)
6.68 Exhibit 6.68: Forecast of Illinois (in thou. units)
6.69 Exhibit 6.69: Forecast of Illinois (in USD Bn)
6.70 Exhibit 6.70: Forecast of Rest of Illinois (in USD Bn)
6.71 Exhibit 6.71: Forecast of Illinois (in thou. units)
6.72 Exhibit 6.72: Forecast of Rest of Illinois (in thou. units)
6.73 Exhibit 6.73: Forecast of New Jersey (in USD Bn)
6.74 Exhibit 6.74: Forecast of New Jersey (in thou. units)
6.75 Exhibit 6.75: Forecast of New Jersey (in USD Bn)
6.76 Exhibit 6.76: Forecast of Rest of New Jersey (in USD Bn)
6.77 Exhibit 6.77: Forecast of New Jersey (in thou. units)
6.78 Exhibit 6.78: Forecast of Rest of New Jersey (in thou. units)
6.79 Exhibit 6.79: Forecast of Washington (in USD Bn)
6.80 Exhibit 6.80: Forecast of Washington (in thou. units)
6.81 Exhibit 6.81: Forecast of Washington (in USD Bn)
6.82 Exhibit 6.82: Forecast of Rest of Washington (in USD Bn)
6.83 Exhibit 6.83: Forecast of Washington (in thou. units)
6.84 Exhibit 6.84: Forecast of Rest of Washington (in thou. units)
6.85 Exhibit 6.85: Forecast of Massachusetts (in USD Bn)
6.86 Exhibit 6.86: Forecast of Massachusetts (in thou. units)
6.87 Exhibit 6.87: Forecast of Massachusetts (in USD Bn)
6.88 Exhibit 6.88: Forecast of Rest of Massachusetts (in USD Bn)
6.89 Exhibit 6.89: Forecast of Massachusetts (in thou. units)
6.90 Exhibit 6.90: Forecast of Rest of Massachusetts (in thou. units)
6.91 Exhibit 6.91: Forecast of Pennsylvania (in USD Bn)
6.92 Exhibit 6.92: Forecast of Pennsylvania (in thou. units)
6.93 Exhibit 6.93: Forecast of Pennsylvania (in USD Bn)
6.94 Exhibit 6.94: Forecast of Rest of Pennsylvania (in USD Bn)
6.95 Exhibit 6.95: Forecast of Pennsylvania (in thou. units)
6.96 Exhibit 6.96: Forecast of Rest of Pennsylvania (in thou. units)
6.97 Exhibit 6.97: Forecast of Georgia (in USD Bn)
6.98 Exhibit 6.98: Forecast of Georgia (in thou. units)
6.99 Exhibit 6.99: Forecast of Georgia (in USD Bn)
6.100 Exhibit 6.100: Forecast of Rest of Georgia (in USD Bn)
6.101 Exhibit 6.101: Forecast of Georgia (in thou. units)
6.102 Exhibit 6.102: Forecast of Rest of Georgia (in thou. units)

Companies Covered

Otis Worldwide Corporation, Schindler Group, KONE Corporation, TK Elevator (TKE), Mitsubishi Electric Corporation, Hitachi Building Systems, Hyundai Elevator Co. Ltd., Fujitec Co. Ltd., Toshiba Elevator and Building Systems Corporation, CANNY Elevator Co. Ltd.

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