Saudi Arabia elevator and Escalator Market Overview, 2029

Escalators and elevators have a significant effect on modern design and architecture. Previously, individuals would only use the stairs to get from one floor to another. People may now comfortably travel over numerous floors, regardless of weight, thanks to the innovation given by these two methods. As a result, escalators and elevators have changed the way people go up and down in buildings. Travelling through a building on an escalator or elevator is now second nature. The Saudi Arabia elevator and escalator industry will see increased demand for maintenance, repair, and after-sales support, as well as a significant need for new installations. The elevator and escalator market will benefit the aging population by allowing them to escape a painful flight of stairs, resulting in strong demand from this demographic. As a consequence, the market is expected to grow at a faster rate over the forecast period. Moving walkways are similar to escalators, except that instead of going up and down, they traverse at ground level. These pathways transport you in a straight and level line over corridors, gates, and terminals, delivering you to your destination quickly. They are essentially human conveyor belts. Increasing urbanization as a result of industrialization and infrastructural development in the Saudi Arabia is expected to drive industry demand. The market is expanding due to the rising population and urbanization in Saudi Arabia. According to the research report "Saudi Arabia Elevators and Escalators Market Overview, 2029," published by Bonafide Research, the Saudi Arabia elevators and escalators market is expected to reach a market size of more than USD 3.35Billion by 2029. In this report of elevator and escalator markets is segmented by types, by services, and by users. Elevators and Escalator include hundreds of intricate moving parts, many of which require frequent maintenance to guarantee good operation. Regularly maintaining elevator systems helps building owners to correct minor issues before they become major ones, lowering maintenance costs and considerably increasing the equipment's lifespan. Maintenance also increases the performance of an elevator and escalator, since well-maintained elevators and escalator are often speedier and give a far better user experience. During the projected period, the Saudi Arabia elevator and escalator maintenance and repair services market is predicted to develop at a stable rate. The government's severe laws to safeguard public safety, as well as the burgeoning building industry, have contributed to market expansion. Increased government investment in infrastructural development in the Saudi Arabia, as well as an increasing number of commercial projects in various areas, are likely to boost the country's elevator and escalator maintenance and repair services market in the approaching years.

The rapid urbanization and extensive infrastructure development aligned with the Saudi Vision 2030 initiative. The market includes a wide range of products such as passenger elevators, freight elevators, single-deck elevators, double-deck elevators, escalators, and moving walkways. Passenger elevators are the most common type, designed to transport people between floors in residential and commercial buildings. These elevators are becoming increasingly sophisticated, with features like destination control systems, touchless interfaces, and energy-efficient designs that enhance user experience and reduce energy consumption. Double-deck elevators, which can carry passengers to two floors simultaneously, are gaining popularity in high-rise buildings to improve efficiency and reduce waiting times. Freight elevators are essential for industrial applications, enabling the movement of goods and materials between floors. These elevators are designed to handle heavy loads and are often equipped with specialized features such as reinforced floors and adjustable platforms to accommodate various cargo sizes. Escalators and moving walkways are crucial for facilitating vertical and horizontal transportation in public spaces like shopping malls, airports, and transit stations. Escalators are moving staircases that transport people between different levels of a building in a continuous loop, while moving walkways are horizontal conveyor belts that assist in moving people over longer distances. These systems are becoming more energy-efficient and are incorporating advanced safety features to ensure the well-being of passengers. New installations are driven by extensive construction projects across the Kingdom, particularly in urban centers like Riyadh and Jeddah. As part of the Vision 2030 initiative, which emphasizes economic diversification and urban development, there is a growing need for efficient vertical transportation systems in high-rise buildings, shopping malls, and public infrastructure. The market for new installations is projected to expand significantly as various mega-projects, such as NEOM and the Red Sea Project, require advanced elevator and escalator systems to accommodate increasing populations and enhance accessibility. Regular maintenance is essential due to stringent safety regulations in Saudi Arabia. This includes routine inspections, servicing, and emergency repairs that help prevent breakdowns and extend the lifespan of equipment. Quick response times and efficient repair processes are critical to minimizing downtime, which can disrupt building operations and affect safety. As urban areas expand, the demand for reliable maintenance services continues to grow, particularly in commercial properties that experience high foot traffic. Modernization services are increasingly important as older elevator and escalator systems become outdated or less energy-efficient. Companies are focusing on upgrading existing systems to enhance performance, energy efficiency, and compliance with the latest safety standards. This trend is particularly appealing to building owners, as modernization often represents a more cost-effective solution compared to full replacements. The residential segment is witnessing a surge in demand due to the rapid construction of high-rise apartments and housing complexes. With the Kingdom's population growth and urban migration, there is an increasing need for efficient vertical transportation solutions in residential buildings. The demand for elevators in residential settings is particularly strong in major cities like Riyadh and Jeddah, where new developments are often designed to accommodate modern living standards, including accessibility features for the elderly and disabled. The commercial sector, encompassing office buildings, shopping malls, hotels, and healthcare facilities, is a major driver of the elevator and escalator market. As Saudi Arabia diversifies its economy away from oil dependency, significant investments in commercial real estate are underway. The demand for high-performance elevators and escalators is increasing, particularly in Grade A office spaces and large retail outlets, which require efficient movement solutions to handle high foot traffic. The occupancy rates for commercial properties in Riyadh are notably high, with Grade A office spaces reaching 97% occupancy, further fueling the need for reliable vertical transportation systems.

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Ask an Expert

Manmayi Raval

Research Consultant

COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in Saudi Arabia due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of Saudi Arabia prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: Saudi Arabia • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Saudi Arabia Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now

Based on By Types: • Elevator • Escalators • Moving Walkways Based on By Services: • New installation • Maintenance and repair • Modernization Based on by End use types: • Residential • Commercial • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.