The Brazil elevator and escalator market is projected to grow at a CAGR of 5.23% from 2023 to 2029.
Brazil, a major player in Latin America, is experiencing increasing demand for elevators in its warehouse, logistics, and other sectors, driving growth in the elevator and escalator market. The country is part of the EU-MERCOSUR agreement, facilitating trade of goods and services.
Leading the market are manufacturers Otis, Schindler, and TK Elevator. Notably, Atlas Schindler expanded its factory by 7,200 square meters in 2019, supporting both local and international production, with 25% of output exported to Chile, Colombia, and Mexico.
Otis Brazil recently completed the modernization of 13 elevators in Sao Paulo’s Birmann 21 building, introducing SkyRise technology to 11 units, making them the fastest elevators in Brazil at 7 m/s. KONE has also made significant advancements, delivering new escalators and elevators to key projects like Mater Dei Hospital and the FIOCRUZ Center.
Brazil’s EU-related trade includes 26.6% of its exports in machines and appliances, making the EU the largest foreign investor in the country. Expansion in infrastructure and specialized projects, particularly in Sao Paulo and Rio de Janeiro, further supports market growth.
Market Drivers:
- Tourism Boost: Brazil saw a 62.7% increase in international tourists in 2023, creating greater demand for hotel accommodation and luxury properties.
- Luxury Real Estate: The rise in luxury villas and houses is driving demand for high-end elevators, contributing to growth in this sector.
Key Questions Addressed:
- What is the growth rate and size of the Brazil elevator and escalator market?
- What are the key opportunities and market players?
- What is the forecast for installed units from 2023 to 2029?
For more detailed insights, the report covers market segmentation by machine type, carriage type, capacity, end-user, and escalator product type. Key vendors include Schindler, Otis, KONE, TK Elevator, Hitachi, Hyundai, and Fujitec, with additional notable suppliers like Wittur and GMV.
The market is expected to grow from 13,603 units in 2023 to 18,473 units by 2029, driven by increasing demand in various sectors across Brazil.
