According to Arizton’s latest research report, UAE elevator and escalator market is growing at a CAGR of 2.87% during 2024-2030.
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Report Summary
Market Size by New Installations (2030): 19.13 Thousand Units
Market Size by New Installations (2024): 16.15Thousand Units
CAGR – New Installations (2024-2030): 2.87%
Market Size by Installed Base (2030): 301.19Thousand Units
Market Size by Modernization (2030): USD 171.4 Million
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Urbanization and Investment Trends Fueling Elevator Market Growth in the UAE
The UAE’s ongoing urbanization, increase in skyscraper projects, and use of smart construction technologies are fueling demand for new elevator installations. Smart infrastructure, including sensors and data systems, supports the country’s shift toward intelligent urban environments.
By 2031, the UAE plans to raise annual FDI to $65.35 billion, up from $30.50 billion in 2023, focusing on sectors like industry, logistics, finance, renewable energy, and IT. The goal is to grow total FDI stock from $217.8 billion to $600 billion.
The UAE Tourism Strategy 2031, part of the ‘Projects of the 50,’ introduces 25 initiatives to boost tourism and support long-term infrastructure development.
UAE Elevator and Escalator Market Developments & News
Industrial Expansion and Port Modernization Drive Demand for Industrial Elevators in the UAE
The surge in oil & gas projects, along with port modernization and broader industrial growth, is significantly boosting demand for industrial elevators in the UAE. These elevators are increasingly used across sectors such as manufacturing, warehousing, maritime, mining, and retail.
The UAE’s manufacturing sector, supported by strategic location and strong infrastructure, is expanding into areas like pharmaceuticals, rubber and plastics, and machinery. Under the ongoing “Operation AED 300 billion” initiative, the country aims to raise the industrial sector’s GDP contribution to $81.7 billion by 2031.
Further fueling this growth, the Emirates Development Bank committed $1.36 billion in May 2024 to finance manufacturing development. This investment supports technological advancement and economic diversification, leading to more factory and warehouse construction — and in turn, higher demand for industrial elevator installations.
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Key Vendors
Elevator Market Segmentation by
Machine Type
Carriage Type
Capacity
End-User
Escalator Market Segmentation by
Product Type
Key Questions Answered in the Report:
How big is the UAE elevator and escalator market?
What is the number of installed bases in the UAE elevator and escalator market in 2024?
What are the key opportunities in the UAE elevator and escalator industry?
What will be the growth rate of the UAE elevator and escalator market?
What are the key UAE elevator and escalator market players?
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