Elevator and Escalator Industry Trends in 2022

As cities continue to become the centrifugal force for progress and urbanization, the need to accommodate huge population has led to the growth of high-rise buildings, mid-rise buildings, and advanced infrastructure. This bodes well for the elevator and escalator industry as they offer solution to facilitate the vertical movement of people and goods safely, efficiently, and responsibly through tall structures. Elevators and escalators are rapidly evolving as architects and developers are laying more emphasis to enhance aesthetics and ensure safety and comfort for the users. Besides, manufacturers are increasingly investing in R&D initiatives to develop energy-efficient elevator and escalators, owing to growing awareness towards sustainable technologies and regulatory compliances by government authorities.

Here are the top trends dominating the elevator and escalator industry. 

Growing IoT Usage in Elevator and Escalator Sector | TechSci research

Advancements in IoT and smart building technologies have moved elevators and escalators beyond just commuting people up high-rises. Elevators and escalators are becoming more intelligent, seamless, safe, and smart with the rapid deployment of innovative technologies, which is enabling building operators and maintenance providers to take a proactive approach rather than relying on the traditional reactive one. Digitalization and connected technologies help to evaluate the real-time passenger traffic to improve flow and travel time in busy mid-and high-rise buildings, which is facilitating proactive, quick, and effective transit and effective passenger flow. 

Rise of Energy Efficient Elevators 

Manufacturers are shifting towards elevators and escalators that aid in substantial energy saving with environmentally responsible features. Newer elevators are incorporating green features such as LED lights, water soluble paint, and recycled construction materials for reducing the energy consumption. Some manufacturers are finding alternatives to traditional rope-and-pulley for enhanced eco-efficiency and reliability. Kone introduced Ultrarope hoisting technology that utilizes carbon fibre core surrounded by high-friction coating. The rope is ultra-durable, has excellent strength properties, and highly resistant to wear and abrasion. The regenerative drive systems are also enabling engineers to recover some of the energy that elevators consume. 

Robotics for High-Quality Installation of Elevators 

The Robotics Installation System for Elevators (R.I.S.E) is creating new possibilities for enhanced automation and digitalization in elevators. The technology allows safe and high-quality installation of elevator, which would not only provide a new level of worker safety but also help improve quality. Engineers are rapidly adopting on R.I.S.E to install elevators in commercial complexes and tall residential buildings to eliminate repetitive and physically demanding work and enhance precision to reduce safety risks in the future. The rapid development of service robotics for vertical movement would expedite the deployment and installation of elevators as well as enhance the safety of workers involved. 

Emergence of touchless technologies, a greater need for connectivity and safety are expected to influence the elevator and escalator trends in the future. 

According to TechSci Research report on “Global Elevator & Escalator Market By Type (Elevator, Escalator, Moving Walk Ways), By Service (New Installation, Modernization, Maintenance & Repair), By Elevator Technology (Hydraulic, Traction & Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural and Others), By Elevator Door Type (Automatic and Manual), By Region, Competition Forecast & Opportunities, 2027”, the global elevator and escalator market is expected to register growth at a significant rate through the forecast period. The market growth can be attributed to the rapid development of high-rise commercial and residential buildings and increasing capital flow into the real-estate sector.