Saudi Arabia Elevator and Escalator Market Report and Forecast 2032

Saudi Arabia Elevator and Escalator Market Insights & Analysis

The Saudi Arabia Elevator and Escalator Market is anticipated to register a CAGR of around 5.40% during the forecast period, i.e., 2025-32. Along with this, the market is valued at USD 1.89 billion during 2032. Owing to the Kingdom's rapid urbanization & infrastructure development, the market has experienced astonishing growth & progress in recent years. The requirement for escalators & elevators has upsurged as a result of the notable vertical upscale in cities, such as Riyadh, Mecca, and Jeddah. These vertical conveyance solutions are now a crucial component of contemporary building design owing to the vertical urban growth brought about by economic activity & population growth. For effective vertical movement, elevators are becoming more & more necessary in high-rise buildings in both commercial & residential settings.

Moreover, industry-wide technological advancements have enhanced energy efficiency & further strengthened user experiences. Touchless interfaces, energy-efficient designs, and destination control systems are a few innovations that have arisen as major forces. Furthermore, sustainable materials & energy-efficient solutions in elevator & escalator systems have been made possible by the implication of sustainability & rigorous adherence to safety & regulatory requirements. Additionally, services for maintenance & repairs are essential to guaranteeing the dependability & safety of these systems. Besides, as building owners look to maximize performance & extend the life of their equipment, precautionary maintenance contracts, retrofitting, and modernization services have grown in popularity.

Additionally, elevators are becoming more & more necessary in Saudi Arabia's smart cities owing to its integrated urban infrastructure & tall structures. These regions place a high priority on energy efficiency & sustainability, which has resulted in the integration of contemporary, environmentally friendly elevators that lower energy consumption & guarantee effective vertical transportation for workers & residents. Eight recently constructed communities, mostly located on Saudi Arabia's western Red Sea coast, are being comprehensively developed at a cost of more than USD 575 billion. Over 1.3 million additional residential units, over 3 million square meters of premium office space, and 100,000 hotel rooms are all anticipated by the end of 2030 as a result of these initiatives.

In addition, elevators & escalators would continue to be vital parts of Saudi Arabia's progress towards environmentally conscious urbanization & smart city development, in line with the Kingdom's dedication to updating urban infrastructure & improving accessibility. Also, future advancements in the sector are foreseen to reflect the Kingdom's continued dedication to sustainability & safety, technological progression, and urbanization.

Saudi Arabia Elevator and Escalator Market Dynamics

• Booming Tourism Industry & Expansion of Hospitality Sector to Fuel the Industry Growth

As part of its Vision 2030 initiative, Saudi Arabia has been encouraging tourism. Hotels, resorts, and entertainment centers have been established all around the country as a result of the effort. These entertainment & hospitality establishments often have multi-story high-rise structures, which raises the requirement for elevators to guarantee visitors have a comfortable stay. Thus, the Saudi Arabia Elevator and Escalator Market has grown owing to a large part of the tourism industry. Modern, effective transportation systems are becoming more & more essential as the country continues to attract more tourists.

Additionally, to ensure the seamless flow of individuals & goods, several of Saudi Arabia's new hotels & commercial structures are designed with tourists in mind. To this end, advanced vertical transit systems are required. Elevators & escalators that are both practical and artistically attractive are therefore in more demand. Also, a lot of amount is being spent by the Saudi government on the construction of retail malls, airports, and other tourist attractions. As a result, the country now has a flourishing elevator & escalator business.

• Fluctuating Economic Graph to Hinder the Industry Expansion

In line with its substantial dependence on oil exports, Saudi Arabia's economy is vulnerable to variations in the value of oil globally. The government frequently decreases investment in infrastructure projects, mainly building projects that typically demand elevators & escalators, during recessions or times when oil prices are low. The requirement for such equipment is directly impacted by the decline in government investment, which causes the Saudi Arabia Elevator and Escalator Market to slow down.

Additionally, firms and investors experience uncertainty due to the oil market's cyclical nature, which makes them cautious with their expenditures. This cautious approach is also evident in the real estate industry, where developers postpone new projects until the economy improves, which prolongs the slow demand for escalators and elevators.

• Bourgeoning Pull Towards Elevators Incorporated with Destination Control Systems (DCS) to Upgrade Market Growth

Skyscrapers & other high-rise structures are being built in Saudi Arabia's cities like Riyadh & Jeddah owing to the country's current rapid urbanization & infrastructure progression. To guarantee smooth traffic flow, this development is raising the need for effective vertical transportation solutions. Thus, there is a mounting nationwide demand for elevators with DCS to enhance user experience, lessen wait times, and boost traffic flow in buildings with high occupancy.

Moreover, this vision is supported by DCS-integrated elevators, which offer sophisticated, energy-efficient, and technologically advanced vertical transit options. KONE Saudi Arabia has associated the building elevators with Destination Control Systems (DCS) at the Jeddah Tower. Other than KONE, various enterprises are increasing their DCS offerings across the nation, such as Otis, Mitsubishi Electric Schindler, etc.

Saudi Arabia Elevator and Escalator Market Segment-wise Analysis

By Elevator Technology:

• Traction
• Hydraulic
• Machine Room-Less

The biggest market share is grasped by the Machine Room-less sector and it is envisioned to flourish in the projected years as well. Machine room-less elevator technology is a relatively recent creation owing to technical developments. This technology has led to a substantial reduction in the size of electric motors utilized with traction equipment. Moreover, new permanent magnet motors (PMM) have been developed for these devices. They also reduce the cost & environmental problems associated with underground hydraulic cylinders that are filled with hydraulic oil. Also, elevators without a machine room utilize a gearless traction machine.

By End User:

• Residential
• Commercial

• Retail
• Healthcare
• Hospitality
• Government & Transportation
• Others

• Industrial

During 2025-32, the Commercial & Residential sectors are predicted to gain a considerable share of the Saudi Arabian Elevator and Escalator Market. It is generally due to the country's numerous infrastructure development projects, which include hotels, shopping centers, malls, corporate offices, residential complexes, etc. These projects are supported generally by increasing greenfield investments & the government's strong focus on economic diversification.

Additionally, other significant aspects fueling market expansion in the commercial sector include the rising presence of the major hotel chains, airport & metro expansions, the rising tourism sector, and enhanced government funding for the advancement of the hospitality, healthcare, retail, and residential sectors.

What Does Our Saudi Arabia Elevator and Escalator Market Research Study Entail?

• Saudi Arabia Elevator and Escalator Market Research Report highlights the forecast growth rate or CAGR by anticipating the market size & share.
• The market analysis puts light upon the primary industry trends, driving aspects, potential opportunities, growth challenges, and other major factors.
• Saudi Arabia Elevator and Escalator Market Research Report entails details about the most critical shifts in market share in the prominent regions.
• Considering the statistics & the developments by the primary market competitors, our report also strives to demonstrate the most sought-after strategies of the key players.