Elevators and Escalators Market Witnessing Increasing Demand Amid Rapid Urbanization
Urbanization and infrastructure modernization are reshaping the way people move within buildings. From high-rise residential towers to sprawling commercial complexes, vertical transportation systems have become essential for efficiency, safety, and accessibility. Rapid construction activities across emerging economies and the renovation of aging infrastructure in developed nations are collectively driving significant transformation in this sector. According to a recent report by Market Research Future, the Elevators and Escalators Market is witnessing substantial expansion due to increasing investments in smart cities and urban mobility solutions. Growing demand for energy-efficient systems and advanced safety technologies is encouraging manufacturers to innovate continuously. The integration of IoT-enabled monitoring systems allows predictive maintenance, reducing downtime and operational costs for building owners. The rise in mixed-use developments, shopping malls, airports, an...