Saudi Arabia Elevator and Escalator Market Overview

Market Size in 2024: USD 1.5 Billion

Market Forecast in 2033: USD 2.2 Billion

Market Growth Rate 2025-2033: 4.10%

According to IMARC Group's latest research publication, "Saudi Arabia Elevator and Escalator Market Size, Share, Trends and Forecast by Type, Service, End Use, and Region, 2025-2033", The Saudi Arabia elevator and escalator market size reached USD 1.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.2 Billion by 2033, exhibiting a growth rate (CAGR) of 4.10%​​​​​​​ during 2025-2033.

Growth Factors in the Saudi Arabia Elevator and Escalator Market

• Urbanization and High-Rise Development

Saudi Arabia’s rapid urbanization, particularly in cities like Riyadh and Jeddah, is a key driver of the elevator and escalator market. The surge in high-rise buildings, such as commercial towers and residential skyscrapers, necessitates advanced vertical transportation systems. For example, the Kingdom Centre Tower in Riyadh relies on high-speed elevators to service its 99 floors efficiently. As urban populations grow and space becomes limited, developers are prioritizing multi-story structures, increasing demand for elevators and escalators. This trend, coupled with the need for efficient mobility in densely populated areas, significantly boosts the market.

• Vision 2030 and Mega-Projects

The ambitious Vision 2030 initiative fuels the elevator and escalator market through large-scale infrastructure projects like NEOM and the Red Sea Project. These mega-projects require state-of-the-art vertical transportation systems to support futuristic cities, luxury resorts, and entertainment hubs. For instance, NEOM’s planned smart city incorporates smart elevators with IoT capabilities to enhance user experience. Government investments in modernizing public infrastructure, such as metro stations and airports, further drive demand for escalators and elevators. These projects create a robust market for advanced systems, encouraging manufacturers to innovate and cater to large-scale developments.

• Tourism and Hospitality Sector Growth

The booming tourism and hospitality sector, a cornerstone of Vision 2030, is driving demand for elevators and escalators in hotels, malls, and cultural sites. Saudi Arabia’s focus on becoming a global tourism hub, exemplified by projects like AlUla and Qiddiya, requires efficient transportation systems to accommodate visitors. For example, the Jeddah Corniche’s luxury hotels use high-capacity elevators to enhance guest experiences. The increasing number of pilgrims visiting Makkah and Madinah also necessitates escalators in religious sites for accessibility. This growth in tourism-related infrastructure significantly contributes to the market’s expansion.

Key Trends in the Saudi Arabia Elevator and Escalator Market

• Adoption of Smart Elevator Technologies

The integration of smart technologies, such as IoT and AI, is a prominent trend in Saudi Arabia’s elevator and escalator market. Smart elevators with features like predictive maintenance, touchless controls, and destination dispatch systems are gaining traction. For instance, Riyadh’s metro stations use smart elevators to optimize passenger flow and reduce wait times. These technologies enhance energy efficiency and user convenience, aligning with the Kingdom’s smart city goals under Vision 2030. Manufacturers like Otis and Schindler are introducing IoT-enabled systems, reflecting a shift toward intelligent, user-centric vertical transportation solutions.

• Focus on Energy-Efficient Systems

Energy efficiency is a growing trend, driven by Saudi Arabia’s sustainability goals. Manufacturers are developing elevators and escalators with regenerative drives and LED lighting to reduce energy consumption. For example, the King Abdullah Financial District incorporates energy-efficient elevators to meet green building standards. Government regulations promoting eco-friendly construction further encourage the adoption of sustainable systems. This trend not only lowers operational costs for building owners but also supports the Kingdom’s environmental objectives, making energy-efficient elevators and escalators a key focus for the market as developers prioritize sustainable infrastructure.

• Increased Accessibility and Inclusivity

Enhancing accessibility for people with disabilities and the elderly is a significant trend in the Saudi market. Elevators and escalators are being designed with features like braille buttons, voice guidance, and low-speed options to ensure inclusivity. For instance, escalators in Makkah’s Grand Mosque have been upgraded to accommodate elderly pilgrims and those with mobility challenges. This trend aligns with Vision 2030’s focus on social inclusion and improving quality of life. Manufacturers are responding by offering customizable solutions, driving demand for accessible systems in public spaces, hospitals, and residential buildings.

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Saudi Arabia Elevator and Escalator Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Elevators
• Escalators
• Moving Walkways

Service Insights:

• New Installation
• Maintenance and Repair
• Modernization

End Use Insights:

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

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Future Outlook

The Saudi Arabia elevator and escalator market is poised for strong growth, propelled by Vision 2030’s focus on urbanization, tourism, and sustainable development. Mega-projects like NEOM and the continued expansion of high-rise buildings will sustain demand for advanced, high-capacity systems. The adoption of smart and energy-efficient technologies will reshape the market, enhancing efficiency and user experience. However, challenges such as high installation costs and maintenance complexities may require innovative financing and service models. With increasing emphasis on accessibility and green infrastructure, the market will play a vital role in supporting Saudi Arabia’s transformation into a global hub for innovation and tourism.

Research Methodology:

The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.

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