Australia Elevator and Escalator Market

Australia Elevator and Escalator Market Overview:

The Australia elevator and escalator market size reached USD 4.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.8 Billion by 2033, exhibiting a growth rate (CAGR) of 4.20% during 2025-2033. The market is increasing steadily as a result of urbanization, infrastructure development, and amplifying demand in residential and commercial markets, underpinned by modernization initiatives and smart technology adoption in new installations and upgrading of existing buildings.

Australia Elevator and Escalator Market Trends:

Rising Demand for Modernization Across Urban Infrastructure

Australia is observing a consistent movement towards modernizing elevator and escalator systems, especially in the aging urban infrastructures. While commercial buildings and residential complexes evolved in the later part of the 20th century are coming to the closure of their operation efficiency, real estate owners are investing more and more in enhancing vertical transportation systems. This incorporates replacing old pieces of equipment, enhancing energy efficiency, and introducing smart technologies like predictive maintenance and real-time monitoring. These modernization initiatives not only improve passenger safety and convenience but also comply with national sustainability goals. Further, more stringent compliance requirements have encouraged facility managers to give high priority to equipment complying with the latest regulations. Australia elevator and escalator market outlook indicates this trend, with continuous demand expected for advanced retrofitting solutions that prolong system life and lower operational costs. The focus on long-term value and performance improvement continues to influence procurement strategies in residential, commercial, and public infrastructure sectors. For instance, in October 2024, TK Elevator installed 190 new elevator and escalator equipment for the recently opened Sydney Metro City Line, boosting commuter mobility in Australia's largest urban rail network.

Integration of Smart Technologies in Vertical Mobility Solutions

The convergence of digital and smart technologies is revolutionizing the elevator and escalator market in Australia. Touchless controls, Internet of Things (IoT) based performance monitoring, artificial intelligence (AI) based traffic analysis, and cloud-based maintenance scheduling are becoming popular in new installations and modernizations. These are especially appreciated in high-density urban developments, where building managers are keen on smooth, secure, and data-driven vertical mobility solutions. Intelligent elevators with destination control systems can minimize waiting times and streamline energy usage. Additionally, end users increasingly look for easy-to-use features like voice commands, mobile app support, and customized user interfaces. Australia elevator and escalator share is slowly turning towards solutions integrating conventional reliability and cutting-edge digital infrastructure. For example, in January 2025, KONE unveiled the Next Generation High-Rise MiniSpace™ DX elevator in Australia, launching new space-efficient and energy-saving vertical transportation technology in Melbourne Square's BLVD tower, where it made its world premiere. Furthermore, as increasingly intelligent and networked buildings become more prevalent, demand for intelligent mobility systems is set to continue as a distinguishing driver of equipment choice, impacting supplier products and investment strategies within residential, hospitality, and office buildings.

Growth in High-Rise Residential and Mixed-Use Developments

Continuous urban growth, especially in large cities like Sydney, Melbourne, and Brisbane, has prompted an upsurge in high-rise residential and mixed-use developments. These require efficient and reliable vertical transportation systems that can service high passenger numbers while ensuring regular service quality. Developers are specifying high-speed elevators and energy-saving escalators more and more to satisfy the functional requirements of these buildings. Mixed-use developments, where residential, retail, hospitality, and office space are merged, demand specialized elevator and escalator arrangements that strike a balance between performance, safety, and people flow management. Australia elevator and escalator market growth is strongly related to this type of building construction, evidencing a persistent demand for versatile and expandable mobility solutions. Moreover, architectural designs that focus on aesthetics and space efficiency have led manufacturers and installers to provide compact but high-performance equipment suited to contemporary project requirements, further shaping procurement and design standards throughout the industry.

Australia Elevator and Escalator Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type, service, and end use.

Type Insights:

• Elevators
• Escalators
• Moving Walkways

The report has provided a detailed breakup and analysis of the market based on the type. this includes elevators, escalators, and moving walkways.

Service Insights:

• New Installation
• Maintenance and Repair
• Modernization

A detailed breakup and analysis of the market based on the service have also been provided in the report. This includes new installation, maintenance and repair, and modernization.

End Use Insights:

• Residential
• Commercial
  • Offices
  • Hospitality
  • Mixed Block
  • Others

The report has provided a detailed breakup and analysis of the market based on the end use. this includes residential and commercial (offices, hospitality, mixed block, others).

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Elevator and Escalator Market News:

• In May 2024, KONE announced the acquisition of Orbitz Elevators’ service operations in Australia and full business in New Zealand. The move strengthens KONE’s presence in the South-Pacific elevator and escalator market. Orbitz’s Papua New Guinea unit remains independent. Both firms will operate separately until integration is complete.

Australia Elevator and Escalator Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia elevator and escalator market performed so far and how will it perform in the coming years?
• What is the breakup of the Australia elevator and escalator market on the basis of type?
• What is the breakup of the Australia elevator and escalator market on the basis of service?
• What is the breakup of the Australia elevator and escalator market on the basis of end use?
• What is the breakup of the Australia elevator and escalator market on the basis of region?
• What are the various stages in the value chain of the Australia elevator and escalator market? 
• What are the key driving factors and challenges in the Australia elevator and escalator?
• What is the structure of the Australia elevator and escalator market and who are the key players?
• What is the degree of competition in the Australia elevator and escalator market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia elevator and escalator market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia elevator and escalator market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia elevator and escalator industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.