1. Home
  2. > Construction
  3. > Construction Equipment Market Trends
Philippines Elevator and Escalator - Market Size and Growth Forecast 2022-2028

Philippines Elevator and Escalator - Market Size and Growth Forecast 2022-2028

  • November 2022
  • 106 pages
  • ID: 6364053
  • Format: PDF
  • Arizton


Table of Contents

Search Inside

The Philippines elevator and escalator market is expected to grow at a CAGR of 5.36% during 2022-2028.


Increasing demand for high-rise structures and the government’s focus on infrastructure in key economic cities have propelled the Philippines’s escalator and elevator business to new heights.
The Philippines elevator market by the installed base is expected to reach 37.9 thousand units by 2028. The industry has strong expectations as tourism demand will lead to hotel construction, several logistics centers, and an increased commercial market in the Philippines. The expansion of the building sector in the Philippines is directly related to the increase in home elevators. Many households need to install these machines due to the development of private homes, particularly the significant increase in two- and three-story buildings.
The Philippines escalator market by the installed base is expected to reach 13,763 units by 2028, growing at a CAGR of 4.24%. Further, the parallel escalators accounted for the largest market share of around 33.7% in 2021 because of the high preference of people in the commercial sector. The Philippines has ongoing railway projects, the North-South Commuter Railway project (NSCR) and Malolos-Clark Railway Project (MCRP); therefore, many escalators must be installed to reduce congestion among travelers.


• The City of Makati and a joint venture between Philippine Infradev and the Chinese companies Greenland Holdings Group, Jiangsu Provincial Construction Group, and China Harbor Engineering Company are working together on the USD 3.5 billion projects as a public-private partnership (PPP). The major business district of Makati will be served by 10 stations along the 10-kilometer route, which is anticipated to handle about 700,000 passengers daily. This project is expected to be finished by 2025.
• The expansion of Cebu’s coworking sector is strongly predicted, with the development of start-ups, solo planners, and BPO companies that need office space quickly to meet their business needs. An estimated 788 BPO firms are comprised of large and small businesses. This number is expected to increase as outsourcing firms play a crucial role and provide more employment opportunities to Filipinos.
• The National AI Plan aims to make the nation a regional AI powerhouse. By 2030, AI’s use can potentially boost the Philippine economy by USD 92 billion. The country will construct the government-initiated National Centre for AI Research (NCAIR), which the private sector will manage under the National AI roadmap.


Elevator Market Segmentation by

Machine Type
• Hydraulic and Pneumatic
• Machine Room Traction
• Machine Room Less Traction
• Others
o Climbing
o Elevators
o Industrial Elevators

Carriage Type
• Passenger
• Freight

• 2-15 Persons
• 16-24 Persons
• 25-33 Persons
• 34 Persons and Above

• Commercial
• Residential
• Industrial
• Others
o Public Transit
o Institutional
o Infrastructural

Market Segmentation by

Product Type
• Parallel
• Multi Parallel
• Walkway
• Crisscross

• Public Transit
• Commercial
• Others
o Institutional Sector
o Infrastructure
o Industrial


Rising Growth Rate Of Digitalization And Increasing Developments In Public Transport

• The New Clark City (NCC), with an approximate area of 9,450 hectares, was planned to transform into an airport-driven urban place focusing on high-end IT-enabled industries, aviation and logistics-related enterprises, tourism, and other sectors. The project is currently under construction, and the financial aid provided for the project was PHP 308.60million (USD 5.5 million).
• By 2024, it is anticipated that the country’s information technology industry, which includes cutting-edge technology like artificial intelligence, will have grown to USD 9.4 billion. Additionally, the government’s ambitious "Build, Build, Build" program for infrastructure development continues to fuel demand for IT infrastructure to support its initiatives, parallelly boosting the Philippines elevator and escalator market share.
• Preparatory works for Manila International Airport (MIA) began in 2021. Around 1,700 hectares of land will be developed for the MIA airport in Bulacan, located about 20 kilometers north of the heart of Metro Manila in Bulacan Province. The project is anticipated to be finished by 2024.
• The IT-BPM (Business process management) sector’s office space demand increased by 39,000 square meters in the first quarter of 2022, overcoming the challenges due to Covid -19 situation. It is estimated that yearly, between 2023 and 2026, the supply of office spaces will reach 543,3300 square meters boosting the Philippines elevator and escalator market growth.

Governments Effort To Expand Infrastructure Across The Nation To Increase Demand For New Installations.

• According to the National Economic and Development Authority, about 76 projects worth USD 81 billion are under transport and mobility. Increasing infrastructure projects in the nation will increase demand for new installations in the Philippines elevator and escalator market.
• Hyundai Elevator Service Phils. Inc. contributes to increasing
opportunities for people and global connectivity by installing 35 units of elevators and 43 units of escalators in the new Clark International Airport.
• Manila Metro Rail Transit (MRT) Line 7 in the Philippines is a 22.8km-long elevated rapid transit line under construction. The elevated line will operate from North Avenue, Quezon City, to San Jose del Monte, Bulacan, including 14 stations. The Republic of the Philippines Department of Transportation and Communication (DOTC) owns and directs the project. These metro and rail projects create demand for public transit escalators and elevators.

Regulations For Maintenance In The Philippines Elevators And Escalators Market By The Building Construction Authority

• Maintenance and Modernization accounted for 59.1% and 40.1%, respectively, for 2021.
• After the accident occurred in PBCom, one of the country’s tallest structures, due to elevator overloading, the Makati City government ordered an inspection of all buildings in the central business district in 2019. With the decision taken on behalf of the government, there will be demand for maintenance and modernization over the coming years, creating a demand in the Philippines elevator and escalator market.


• Two new skyscraper projects will be launched in Cebu Business Park (CBP), the first residential, The Rainbow Tree, in honor of the colorful tree common in the Philippines, and next is the mixed-use community with hotel, retail, and office components. These projects will contribute to the Philippines elevator and escalator market growth.
• The capital Manila is home to 19 new hotel projects – nearly a third of the total – which will grow the city’s room count by 4,784 and will be a major contributor to the Philippines
• The NSCR(North-South Commuter Railway) is one of the most significant projects under the government’s infrastructure program. It was funded by loans from the Asian Development Bank and the Japan International Cooperation Agency, Hitachi Philippines, to supply a total of 65 escalators and elevators for phase 1 of NSCR.


• The top 4 prominent vendors, including Schindler, Otis, KONE, and Hitachi, accounts for 34% of the Philippines elevator and escalator market share.
• The Gen3 elevator combines the industry-leading Gen2’s established architecture with the Otis ONE IoT digital platform’s connectivity, which monitors equipment health and performance in real time, 24 hours a day, seven days a week.
• In May 2021, KONE announced a new tech solution to enable wheelchair users to navigate modern buildings more efficiently by connecting elevators and wheelchairs.
• In January 2021, Schindler launched ElevateMe App, allowing passengers to call an elevator and choose the destination floor via smartphone without having to touch any buttons outside or inside the elevator car.

Key Vendors
• Otis
• Hyundai Elevator
• TK Elevator
• Mitsubishi Electric
• Hitachi
• Schindler
• Fujitec

Other Prominent Vendors
• Toshiba Elevator and Building Systems Corporation
• Cibes Lift Group
• HD Home lift solutions Corp
• Dazen Elevator
• Kalea Lifts

1. How big is the Philippines elevator and escalator market?
2. What will be the growth rate of the Philippines elevator and escalator market?
3. What is the Philippines elevator and escalator market installed base volume in 2021?
4. Who are the key companies in the Philippines elevator and escalator market?
5. What are the growth factors for the Philippines elevator and escalator market?

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers


Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on