Elevator And Escalator Market Size in US Will Reach $876.82 Million During 2020-2024 | Technavio

LONDON--(BUSINESS WIRE)--The new elevator and escalator market in US research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the increasing adoption of smart homes,” says a senior analyst for the Industrials industry at Technavio. As the markets recover Technavio expects the elevator and escalator market size in US to grow by USD 876.82 million during the period 2020-2024".

Elevator and Escalator Market in US Segment Highlights for 2020

• The elevator and escalator market in US is expected to post a year-over-year growth rate of (0.74)%.
• The growth of the market will be significant in the elevators segment during 2020-2024.
• 89% of the growth will originate from the Elevators region.

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Notes:

• The elevator and escalator market in us size is expected to accelerate at a CAGR of 3% during the forecast period.
• The elevator and escalator market in us is segmented Product (Elevators and Escalators).
• The market is fragmented due to the presence of many/few established vendors holding significant market share.
• The research report offers information on several market vendors, including Fuji Electric Co. Ltd., Fujitec Co. Ltd., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Prysmian Spa, Savaria Corp., Schindler Holding Ltd., thyssenkrupp Elevator AG, and WITTUR HOLDING GmbH.

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