Brazil elevator and Escalator Market Overview, 2029

Escalators and elevators have a significant effect on modern design and architecture. Previously, individuals would only use the stairs to get from one floor to another. People may now comfortably travel over numerous floors, regardless of weight, thanks to the innovation given by these two methods. Travelling through a building on an escalator or elevator is now second nature. The Brazil elevator and escalator industry will see increased demand for maintenance, repair, and after-sales support, as well as a significant need for new installations. Urbanization in Brazil has significantly influenced the demand for elevators and escalators, primarily due to the rapid growth of urban populations and the increasing construction of high-rise buildings. Approximately 85% of Brazil's population now resides in urban areas, which necessitates efficient vertical mobility solutions in densely populated cities. As urbanization progresses, the construction industry is expanding, leading to a surge in infrastructure projects that require elevators and escalators for accessibility and convenience in residential, commercial, and public spaces. The elevator and escalator market will benefit the aging population by allowing them to escape a painful flight of stairs, resulting in strong demand from this demographic. The government's severe laws to safeguard public safety, as well as the burgeoning building industry, have contributed to market expansion.

According to the research report "Brazil Elevators and Escalators Market Overview, 2029," published by Bonafide Research, the Brazil elevators and escalators market is anticipated to grow at more than 6.18% CAGR from 2024 to 2029. In this report of elevator and escalator markets is segmented by types, by services, and by users. Elevators and Escalator include hundreds of intricate moving parts, many of which require frequent maintenance to guarantee good operation. Regularly maintaining elevator systems helps building owners to correct minor issues before they become major ones, lowering maintenance costs and considerably increasing the equipment's lifespan. Maintenance also increases the performance of an elevator and escalator, since well-maintained elevators and escalator are often speedier and give a far better user experience. During the projected period, the Brazil elevator and escalator maintenance and repair services market is predicted to develop at a stable rate. Increasing urbanization as a result of industrialization and infrastructural development in the Brazil is expected to drive industry demand. The market is expanding due to the rising population and urbanization in Brazil. Increased government investment in infrastructural development in the Brazil, as well as an increasing number of commercial projects in various areas, are likely to boost the country's elevator and escalator maintenance and repair services market in the approaching years.

The Brazilian elevator and escalator market encompasses a diverse range of products, including passenger elevators, freight elevators, single and double-deck elevators, escalators, and moving walkways. Passenger Elevators are designed for transporting individuals between floors in residential and commercial buildings. Innovations in this segment include the introduction of smart elevators equipped with IoT technology, allowing for real-time monitoring and improved energy efficiency. Freight Elevators cater to the transportation of goods, often featuring robust designs and higher load capacities, and are increasingly being integrated with automation technologies to streamline logistics in warehouses and retail spaces. Single-deck elevators are the most common, while double-deck elevators are gaining traction in high-rise buildings due to their ability to transport more passengers simultaneously, thereby enhancing efficiency in busy environments. Escalators play a vital role in public transit systems, shopping malls, and airports. Recent trends include the adoption of energy-efficient designs and enhanced safety features, such as sensors that prevent accidents in commercial sectors. Moving walkways, often found in airports and large venues, facilitate the movement of people over long distances. The market for these walkways is expanding as they provide a convenient solution for enhancing pedestrian flow in crowded spaces.

The range of services to meet the diverse needs of building owners and operators, including new installations, maintenance and repair, and modernization. The government's focus on improving urban mobility and accessibility has stimulated investments in new elevator and escalator installations, catering to the needs of residential, commercial, and public spaces. Innovations in technology, such as the integration of smart systems and energy-efficient designs, are shaping the new installation market, offering building owners advanced solutions that enhance operational efficiency and sustainability. Maintenance and repair services are essential for ensuring the safe and reliable operation of elevators and escalators. The Brazilian Association of Elevator Companies (ABEEL) has introduced a digital seal to distinguish companies based on their commitment to quality products, services, and adherence to current safety standards. This initiative has driven companies to focus on providing high-quality maintenance services, which account for a significant portion of the overall market. Regular maintenance helps prevent breakdowns, extend the lifespan of equipment, and ensure compliance with safety regulations. The maintenance market is further bolstered by the aging infrastructure in Brazil, with many buildings requiring extra attention and additional charges due to the increased maintenance costs associated with older systems. Modernization services offer building owners the opportunity to upgrade their existing elevator and escalator systems with advanced features and technologies. Elevators account for the majority (94.3%) of the modernization market, followed by escalators (5.7%). Modernization can lead to reduced maintenance costs and improved safety, making it an attractive option for building owners looking to optimize their vertical transportation systems.

In the residential sector, the demand for elevators is significantly driven by the aging population and the need for accessibility in multi-story buildings. As more elderly individuals seek to maintain their independence, residential elevators have become essential in new housing developments. Government initiatives, such as the "My House, My Life" program, which aims to provide affordable housing, further boost the demand for elevators in social housing projects. Approximately 50% of the residential sector is comprised of social housing, which increasingly incorporates elevators to enhance accessibility for all residents. The rise of smart city initiatives and infrastructure development projects has also led to increased investments in commercial properties, further driving the need for modern elevators and escalators equipped with advanced technologies. The industrial and infrastructure segments, elevators and escalators are essential for facilitating the movement of goods and personnel in warehouses, manufacturing facilities, and public transit systems. The Brazilian government has invested heavily in infrastructure projects, including metro systems and public transport upgrades, which necessitate the installation of reliable vertical transport solutions. Additionally, the marine industry is increasingly adopting specialized elevators and escalators for port facilities and cruise ships, reflecting a diversification of demand across various industrial applications.



COVID-19 impacts:
The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in Brazil due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of Brazil prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years.

Considered in this report
• Geography: Brazil
• Historic Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Brazil Elevator & Escalator Market with its value and forecast along with its segments
• Application wise tire industry distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Based on By Types:
• Elevator
• Escalators
• Moving Walkways

Based on By Services:
• New installation
• Maintenance and repair
• Modernization

Based on by End use types:
• Residential
• Commercial
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.