Argentina elevator and Escalator Market Overview, 2029

Argentina, as a rapidly urbanizing country with a growing infrastructure, has a significant demand for elevators and escalators. These systems are integral to various sectors such as commercial buildings, residential complexes, shopping malls, airports, hospitals, and public transportation facilities. The elevator and escalator market in Argentina is characterized by technological advancements, safety regulations, and a focus on energy efficiency. The industry is driven by factors such as urbanization, population growth, modernization of existing infrastructure, and government initiatives promoting accessibility and sustainability. Several domestic and international companies operate in the Argentine elevator and escalator market, offering a wide range of products such as passenger elevators, freight elevators, residential elevators, and different types of escalators. These companies cater to the diverse needs of customers and strive to provide efficient, reliable, and safe vertical transportation solutions. Maintenance and modernization services are crucial aspects of the elevator and escalator market in Argentina. Regular maintenance ensures the smooth functioning of these systems and compliance with safety standards. Moreover, modernization services help upgrade older systems with advanced technology, improving performance, energy efficiency, and passenger experience. The Argentine government has initiatives aimed at promoting accessibility and sustainability in buildings. This includes regulations and incentives encouraging the installation of elevators and escalators that meet accessibility requirements and energy efficiency standards.

According to the research report "Argentina Elevators and Escalators Market Overview, 2029," published by Bonafide Research, the Argentina elevators and escalators market is anticipated to grow at more than 6.6% CAGR from 2024 to 2029. The elevator and escalator market often faces the unique challenge of retrofitting these structures with modern vertical transportation systems while preserving their historical integrity. The Argentine elevator and escalator market prioritize safety standards and regulations. Manufacturers and service providers ensure compliance with strict safety guidelines to guarantee the well-being of passengers and minimize accidents. Companies are incorporating advanced features like destination control, smart operation, and touchless interfaces to enhance efficiency, convenience, and hygiene. Argentina has a significant presence of local elevator and escalator manufacturers. These companies contribute to the market by providing domestic production capabilities, supporting the country's economy, and offering tailored solutions for the local market. Maintenance and modernization services play a crucial role in the Argentina elevator and escalator market. Service providers offer comprehensive maintenance programs and modernization solutions to extend the lifespan of existing systems, improve performance, and ensure compliance with safety regulations. Similar to other countries, Argentina is witnessing a rise in high-rise residential projects in major cities. The demand for elevators and escalators in residential buildings has increased, contributing to the growth of the market. Energy efficiency is a significant consideration in the Argentine elevator and escalator market. Manufacturers are developing systems that consume less power, incorporate regenerative technologies, and employ energy-saving components to minimize environmental impact and operational costs.

Argentina's elevator and escalator market is experiencing significant growth, driven by urbanization, infrastructure development, and technological advancements. The market includes various types of elevators such as passenger, freight, and home elevators, as well as escalators and moving walkways. Passenger elevators are primarily used in commercial and residential buildings, while freight elevators cater to industrial needs. The growing trend of high-rise construction in urban areas is increasing the demand for these systems, particularly in cities like Buenos Aires. Recent developments in this sector include a focus on energy efficiency and sustainability. Manufacturers are introducing elevators and escalators that utilize regenerative technologies, which reduce energy consumption and operational costs. Additionally, advancements in technology such as smart operation systems, touchless interfaces, and destination control are enhancing user experience and safety standards. The Argentine government is also promoting accessibility in public buildings, which has led to increased installations of elevators and escalators that meet modern accessibility requirements. The maintenance and modernization of existing systems are crucial in the Argentine market. Regular maintenance ensures compliance with safety regulations, while modernization services upgrade older systems with the latest technology, improving performance and reliability. Local manufacturers play a vital role in this market by providing tailored solutions that meet the specific needs of the Argentine infrastructure. In terms of market trends, there is a notable shift towards integrating Internet of Things (IoT) technologies in elevators and escalators, which enhances operational efficiency and allows for predictive maintenance. This integration is expected to continue growing as urban living demands increase and the need for efficient vertical transportation solutions becomes more pronounced.

New installations are a significant driver of market growth, particularly in the commercial sector. As Argentina experiences rapid urbanization and infrastructure development, there is a rising demand for elevators and escalators in commercial buildings, shopping malls, airports, and public transportation facilities. Manufacturers and service providers offer a wide range of elevator and escalator solutions to cater to the specific needs of each project, ensuring efficient and reliable vertical transportation. Maintenance and repair services are essential for ensuring the smooth and safe operation of elevators and escalators in Argentina. Regular maintenance helps prevent minor issues from becoming major problems, reducing maintenance costs and extending the equipment's lifespan. Well-maintained elevators and escalators provide a better user experience by operating at optimal speed and efficiency. The Argentine government's strict safety regulations and the growing construction industry have contributed to the expansion of the maintenance and repair services market. Modernization services are gaining importance in Argentina as building owners seek to upgrade older elevator and escalator systems with advanced technologies. Modernization can boost performance, making the systems more efficient and reliable. It also helps reduce maintenance costs by replacing old parts with modern components that ensure long-term smooth operation. One of the main drivers for modernization is the need to improve safety standards in high-rise buildings, aligning with the introduction of new technologies in the Argentine market.

Residential applications are increasingly important as urban populations grow and more high-rise residential buildings are constructed. The demand for home elevators is rising, particularly in multi-story apartments and luxury homes, where space optimization and accessibility are prioritized. This trend is fueled by a growing middle class seeking comfortable living conditions and the need for mobility solutions for the elderly and disabled. Commercial use represents a significant share of the market, driven by the expansion of retail spaces, office buildings, and hospitality sectors. The construction of shopping malls, hotels, and corporate offices necessitates efficient vertical transportation systems to accommodate high foot traffic. As businesses focus on enhancing customer experience, the demand for advanced technologies such as smart elevators and escalators is increasing. These systems optimize traffic flow and improve energy efficiency, aligning with the growing emphasis on sustainability in commercial real estate. Others, encompassing industrial and infrastructure applications, also play a crucial role in the market. Industrial elevators and escalators are essential in manufacturing plants, warehouses, and logistics centers, where they facilitate the movement of goods and materials. Additionally, infrastructure projects, including public transportation hubs and airports, require robust elevator and escalator systems to ensure smooth operations and accessibility. The Argentine government’s commitment to infrastructure development, including new airports and public transit systems, further drives demand in this segment.



COVID-19 impacts:
The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in Argentina 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 Argentina 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: Argentina
• Historic Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Argentina 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

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.