The US elevator and moving stairway market is projected to grow consistently from $3.208 billion in 2024 to $3.4679 billion by 2028. The estimated year-on-year growth rate averages around 3% from 2024 to 2028. In 2023, the market was valued slightly below $3.208 billion, marking a steady incline towards forecasted figures. The compounded annual growth rate (CAGR) for this sector from 2024 to 2028 is projected at about 2.5%, reflecting a robust and stable market expansion.

Future trends to watch for:

Increasing urbanization which may drive demand for elevators and escalators in residential and commercial construction.
Technological advancements in energy efficiency and smart elevator technologies.
Potential economic fluctuations that could impact construction projects and timelines.