The elevator and escalator industry is influenced by global megatrends. The most significant trends today include: urbanization, the aging demographic structure, and the tightening safety requirements for elevators and escalators
Urbanization
Urbanization is the single most important megatrend for the elevator and escalator industry and it is expected to drive demand for years to come. The concentration of people in urban areas will increase the importance of efficiently moving people from one point to another. More people will need to move through the same space at the same time. Buildings will be built higher and the flow of people inside them will need to be managed as efficiently as possible.
Aging urban population
The changing demographic structure, especially the growing share of aging population, highlights the importance of accessibility in buildings and urban infrastructure. As the rapidly expanding population ages, the need for People Flow solutions that improve accessibility will increase.
Increasing importance of safety
Increasing requirements for safety of the aging equipment – mainly in the United States and Europe – is a strong driver for modernization demand. KONE seeks to ensure that all equipment under its service is in full compliance with safety regulations and meets the highest level of safety in the industry.