According to Arizton’s latest research report, the U.S. elevator and escalator market is growing at a CAGR of 2.65% during 2024-2030.
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Report Summary
Market Size- New Installations (2030): 43.32 Thousand Units
Market Size – New Installations (2024): 37.02 Thousand Units
CAGR (2024-2030): 2.65%
Market Size – Installed Base (2030): 1,329.9 Thousand Units
Market Size – Modernisation (2030): USD 3.23 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 U.S. elevator and escalator market is poised for steady growth, with installations expected to reach 43,321 thousand units by 2030, reflecting a CAGR of 2.65%. Increasing urbanization and the expansion of the construction industry significantly contribute to the market’s year-over-year growth. The country’s rapid urbanization and infrastructure development remain the primary growth drivers. According to the U.S. Bureau of Labor Statistics, the construction industry is projected to grow by 4.7% from 2023 to 2033. Adding to this positive outlook, the federal government has announced a $62 billion investment for infrastructure development in 2025.
The U.S. infrastructure landscape is undergoing transformative changes, with several major projects anticipated to launch that year. Complementing these infrastructure efforts, the U.S. government also introduced a strategic initiative to address the housing crisis by developing affordable housing on federal lands, a joint effort led by the Department of Housing and Urban Development (HUD) and the Department of the Interior (DOI). These combined developments are setting the stage for sustained momentum in the elevator and escalator market across the country.
U.S. Elevator and Escalator Market Set for Growth through AI Integration
The integration of Artificial Intelligence (AI) within the U.S. elevator and escalator market represents a significant advancement in the modernization of urban infrastructure. AI-driven solutions are enhancing safety, operational efficiency, and user experience across both public and private transportation systems.
Utilising real-time data from sensors embedded in elevators and escalators, AI enables predictive maintenance to identify and prevent potential malfunctions, thereby reducing downtime and improving equipment reliability. Leading industry players such as KONE and OTIS have already implemented AI-based predictive maintenance solutions globally, including in the U.S. market. This adoption underscores the sector’s transition toward intelligent, data-driven technologies designed to address the evolving demands of contemporary urban environments. The continued integration of AI technologies is expected to create substantial growth opportunities by driving innovation and improving the overall performance and safety of elevator and escalator systems.
Increasing Investment in Public Infrastructure Development Is Driving Market Demand
The United States is witnessing a substantial increase in public infrastructure development, underpinned by robust federal funding initiatives. According to recent data, public infrastructure projects grew by 6% during the first eight months of 2024 compared to the same period in 2023. Furthermore, total construction spending in the country surged by over 41% from April 2020 to July 2024, reflecting the scale and pace of ongoing development.
As of February 2025, total construction spending in the U.S. reached a seasonally adjusted annual rate of $2.195 trillion, encompassing significant investments from both public and private sectors across residential and non-residential segments. This accelerated investment in infrastructure, driven by national modernization efforts and urban development strategies, is significantly boosting the demand for elevators and escalators. These systems play a critical role in enhancing mobility, accessibility, and operational efficiency in newly constructed public spaces and high-density urban environments.
Recent Vendor Activities
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In 2024, ATTA Elevators, a leading elevator and escalator service provider based in Ontario, announced its expansion into the U.S. with an office in St. Louis, Missouri.
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In April 2025, Schindler Elevator Corporation announced the launch of the Schindler 5000, which is a machine-room-less (MRL) elevator designed for low- to mid-rise offices, hotels, hospitals, and apartment complexes. This model is widely available in the U.S. market.
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In April 2025, OTIS announced the acquisition of eight of the eleven Urban Elevator locations in the US.
Geographical Overview of Major U.S. Infrastructure Developments in 2025
California is witnessing significant growth across transportation, housing, infrastructure, and environmental conservation, underscored by the ongoing construction of the California High-Speed Rail segment between Merced and Bakersfield, which aims to connect Los Angeles and San Francisco with high-speed service by 2030–2033. Concurrently, New York is advancing major infrastructure and sustainability initiatives, including the transformation of the South Brooklyn Marine Terminal into a strategic offshore wind port supporting the Empire Wind 1 project, capable of generating 810 MW of renewable energy. Texas is emerging as a critical hub for data center development, highlighted by AI company Crusoe’s $3.5 billion investment to establish six large-scale data centers in Abilene, complemented by a robust increase in residential construction. Meanwhile, Florida is poised for substantial infrastructure expansion with a proposed $14.8 billion investment targeting highways, rural roadways, aerospace, maritime sectors, and education, demonstrating a comprehensive approach to fostering economic development and connectivity across these pivotal regions.
Key Vendors
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Otis
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KONE
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TK Elevator
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Schindler
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Mitsubishi Electric
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Hyundai Elevator
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Fujitec
Other Prominent Vendors
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MEI Total Elevator Solutions
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Delaware Elevator
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Day Elevator and Lift
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Liberty Elevator
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AVT Beckett
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American Crescent Elevator Manufacturing
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Access Elevator & Lifts, Inc. (AEL)
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Godwin Elevator
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Action Elevator Company
Market Segmentation
Elevator Market Segmentation by
Machine
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Hydraulic and Pneumatic
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Machine Room Traction
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Machine Room Less Traction
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Others
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Climbing
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Elevators
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Industrial Elevators
Carriage
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Passenger
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Freight
Capacity
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2-15 Persons
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16-24 Persons
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25-33 Persons
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34 Persons and Above
End-User
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Commercial
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Residential
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Industrial
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Others
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Public Transit
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Institutional
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Infrastructural
Escalator Market Segmentation by
Product
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Parallel
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Multi Parallel
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Walkway
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Crisscross
End-User
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Public Transit
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Commercial
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Others
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Institutional Sector
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Infrastructure
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Industrial
In a nutshell, the Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the U.S. elevator and escalator market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/united-states-elevator-and-escalator-mark
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What Key Findings Will Our Research Analysis Reveal?
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How big is the U.S. elevator and escalator market?
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What is the number of installed bases in the U.S. elevator and escalator market in 2024?
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What are the key U.S. elevator and escalator market players?
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What are the key opportunities in the U.S. elevator and escalator market?
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What will be the growth rate of the U.S. elevator and escalator market?
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