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.

Saudi Arabia Elevator and Escalator Market FY32

• Study Period: 2020- 2032


• Base Year: 2024


• CAGR(2025-2032): 5.40%


• Market Value 2032: USD 1.89 Billion


• Major Players: Thyssenkrupp Elevator Saudi Arabia, Otis Elevator, Hyundai Elevator, Toshiba Elevator and Building Systems Corporation, Hitachi Elevator, and Others 

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.