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 was valued at USD 1.5 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 2.2 Billion by 2033, exhibiting a CAGR of 4.10% from 2025-2033.
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How AI is Reshaping the Future of Saudi Arabia Elevator and Escalator Market
- AI-powered predictive maintenance in Saudi elevators is reducing downtime by up to 40%, enhancing safety and reliability in busy commercial and residential buildings.
- The government’s smart city programs encourage AI integration, with projects like NEOM mandating intelligent elevators that optimize energy use and passenger flow.
- Leading elevator companies have partnered with Saudi tech startups to develop AI-driven remote monitoring platforms, cutting service response times by nearly 30%.
- AI-enabled touchless controls and voice recognition in elevators are becoming standard to improve hygiene and accessibility in public spaces across Saudi Arabia.
- Real-time data analytics from AI systems allow facility managers to schedule maintenance precisely, lowering operational costs by approximately 25% while extending equipment lifespan.
Saudi Arabia Elevator and Escalator Market Trends & Drivers:
Urban expansion is a huge growth engine for Saudi Arabia elevator and escalator market trends right now. As cities like Riyadh and Jeddah push ambitious development projects for new commercial spaces, residential towers, and transport hubs, there’s soaring demand for advanced vertical transportation solutions. The government’s initiatives around large-scale smart city builds, including the well-publicized NEOM zone, are putting the spotlight on elevators and escalators that offer higher speed, energy efficiency, and seamless connectivity. For instance, developers are increasingly installing destination control systems and regenerative drives, and recent market surveys suggest that more than 70% of new high-rise projects in major business districts specify intelligent elevator solutions to support daily footfall exceeding 10,000 users per site.
Another standout driver is the rapid modernization of Saudi Arabia’s public infrastructure. As part of the Vision 2030 transformation goals, there’s a massive wave of investment in airports, metro stations, and healthcare complexes—all of which require state-of-the-art elevator and escalator systems for safety, accessibility, and visitor experience. Leading elevator brands like Otis and Schindler have announced new partnerships and installation contracts with government-backed mega projects, delivering next-gen products featuring predictive maintenance and touchless control interfaces. For example, recent company releases highlight multimillion-dollar deals for hundreds of newly installed units in transport hubs, and active procurement policies already require smart escalators capable of supporting peak traffic times roughly 30% above the legacy system averages.
A third critical trend is the adoption of digital and AI-powered technologies in elevator and escalator operations. Local construction groups and facility managers are moving fast to integrate IoT sensors, cloud-based remote monitoring, and AI predictive maintenance into both new and retrofit installations. Real-time fault detection and adaptive scheduling have helped reduce downtown interruptions by as much as 40%, according to recent case studies shared by regional facility leaders. As market analysts report, more than half of large-scale service contracts now include customized digital dashboard solutions, and government-backed green building initiatives encourage adoption of energy-saving smart controls. This technology upgrade push is also driving partnerships between global elevator firms and Saudi tech startups, further accelerating the market’s transformation and efficiency.
Saudi Arabia Elevator and Escalator Industry Segmentation:
The report has segmented the market into the following categories:
Analysis by Type:
- Elevators
- Escalators
- Moving Walkways
Analysis by Service:
- New Installation
- Maintenance and Repair
- Modernization
Analysis by End Use:
- Residential
- Commercial
- Offices
- Hospitality
- Mixed Block
- Others
Regional Analysis:
- 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.
Recent News and Developments in Saudi Arabia Elevator and Escalator Market
- October 2025: KONE announced a major order to equip Jeddah Tower with 67 elevators and escalators, including 29 equipped with UltraRope® technology, reducing energy consumption by up to 15% while enabling travel heights up to 1 km.
- September 2025: Al-Futtaim Contracting partnered with Hyundai Elevator exclusively to install energy-efficient, cutting-edge elevator systems in Saudi Arabia’s smart city projects, boosting modernization efforts.
- August 2025: Alat and TK Elevator launched a €160 million joint venture to create Saudi Arabia’s first local manufacturing hub for elevators and escalators, advancing Vision 2030 industrialization goals.
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