Saudi Arabia Elevator and Escalator Market 2026 | Growth, Trends, and Forecast by 2034

IMARC Group, a leading global market research and management consulting firm, has published its latest market intelligence report on the Saudi Arabia Elevator and Escalator Market. The Saudi Arabia elevator and escalator market size was valued at USD 1.52 Billion in 2025 and is projected to reach USD 2.21 Billion by 2034, exhibiting a CAGR of 4.01% during 2026-2034. Growth is being driven by Vision 2030 infrastructure projects, high-rise construction, smart city developments, modernization of aging equipment and demand for energy-efficient, IoT-enabled systems.

Elevators, escalators and moving walkways are essential vertical transport infrastructure across Saudi Arabia’s offices, hotels, malls, airports and residential towers. In June 2026, TK Elevator and Alat said they will invest about SAR 285 million in a manufacturing facility in Dammam’s Third Industrial City, spanning more than 40,000 square meters with completion expected by the end of 2027, to produce low-, mid- and high-rise elevators and escalators locally. At the same time, the project pipeline is being recalibrated, with Reuters reporting in January 2026 that work on the Mukaab in Riyadh was suspended while financing and feasibility are reassessed, and reports that spending is being prioritized toward projects with near-term deadlines such as Expo 2030, the 2034 FIFA World Cup, Diriyah and Qiddiya. Combined with modernization of older buildings, smart elevator technology and local manufacturing, these forces are reshaping the competitive landscape across the Northern and Central, Western, Eastern and Southern regions.

Saudi Arabia Elevator and Escalator Market at a Glance:

• Market Size (2025): USD 1.52 Billion
• Market Forecast (2034): USD 2.21 Billion
• Growth Rate (2026-2034): CAGR of 4.01%
• Base Year: 2025 | Historical Period: 2020-2025 | Forecast Period: 2026-2034

How AI is Reshaping the Future of the Saudi Arabia Elevator and Escalator Market

• AI-Powered Dispatching and Destination Control: The report notes that smart elevator systems with AI-powered dispatching, destination control, IoT monitoring, mobile app integration and touchless panels are gaining adoption, mainly in high-rise towers, airports and luxury hotels.
• Predictive Maintenance and IoT Monitoring: Demand is rising for energy-efficient, IoT-enabled systems across residential, commercial and public sectors, with predictive maintenance reducing downtime and supporting the maintenance and repair segment.
• Local Manufacturing for Smart Cities: TK Elevator and Alat’s joint venture, announced in February 2025 with a EUR 160 million investment and a 15 percent stake in TKE for Alat, positions Saudi-made elevators and escalators for smart city projects, with the Dammam facility under construction in 2026.

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Saudi Arabia Elevator and Escalator Market Trends and Drivers:

Demand is being underpinned by Vision 2030 infrastructure projects, high-rise construction and smart city developments. The report highlights mega-projects such as NEOM, Red Sea Global and Qiddiya as sources of demand for high-capacity, energy-efficient vertical transport, along with Vision 2030’s aim of 330 million airport passengers by 2030.

The market’s structural differentiator is the growing weight of modernization and service. Owners of older malls, hotels, airports and government buildings are retrofitting for safety, efficiency and updated building codes, which the report says is more cost-effective than full replacement. KONE won the modernization contract at King Fahd International Airport, including 30 elevators and escalator upgrades, in November 2024, and in the third quarter of 2025 was awarded 67 elevators and escalators with a two-year maintenance deal for Jeddah Tower.

A third dynamic is the recalibration of giga-projects. In January 2026, Reuters reported the suspension of Mukaab construction beyond excavation and pilings, and in February 2026 AFP reported, citing anonymous sources and disputed by Red Sea Global, that plans for Phase Two of the Red Sea project were being scaled back. Spending is shifting toward projects with near-term deadlines, a dynamic that is set to shape new installation demand over the coming years while modernization and maintenance provide a steadier base.

Government Schemes and Policy Frameworks Driving the Market:

• Vision 2030 Infrastructure and Giga-Projects: Giga-projects including NEOM, Red Sea Global and Qiddiya, cited in the report as worth over USD 1.34 trillion, are driving demand for vertical transport, alongside government-backed smart city projects such as NEOM and King Abdullah Economic City.
• Airport Expansion Targets: Vision 2030 aims for 330 million airport passengers by 2030, supporting airport terminal construction and modernization, as seen in KONE’s King Fahd International Airport contract.
• Building Codes and Safety Standards: The report notes that updated building codes and safety standards are prompting owners to modernize aging elevators and escalators.
• Prioritized Projects: As the investment program is recalibrated, infrastructure for World Expo 2030 and the 2034 FIFA World Cup, Diriyah and Qiddiya have been reported as priorities, according to Gulf Construction coverage of January 2026 announcements.
• MODON Industrial Cities: TKE ALAT’s Dammam facility is being built in Dammam’s Third Industrial City, under the management of the Saudi Authority for Industrial Cities and Technology Zones, supporting localization of elevator manufacturing.

Saudi Arabia Elevator and Escalator Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup By Type:

• Elevators
• Escalators
• Moving Walkways

The report provides a detailed breakup of elevators, escalators and moving walkways. Escalators and walkways are prominent in airports, malls and transit, and the TKE ALAT Dammam facility is planned to produce both elevators and escalators in one location.

Breakup By Service:

• New Installation
• Maintenance and Repair
• Modernization

New installation tracks construction activity, while maintenance and modernization are supported by aging equipment in malls, hotels, airports and government buildings, as in KONE’s King Fahd International Airport and Jeddah Tower contracts.

Breakup By End Use:

• Residential
• Commercial (Offices, Hospitality, Mixed Block, Others)

The report covers residential and commercial end uses, with commercial spanning offices, hospitality, mixed blocks and others, supported by high-rise construction and hospitality development.

Breakup By Region:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report analyzes demand across the four regions, with Riyadh and the Central region hosting New Murabba, the Western region including Jeddah Tower and the Red Sea, and the Eastern region hosting the TKE ALAT facility in Dammam.

Competitive Landscape:

The report does not list a ranked set of key players. Organizations named in its trends and recent developments include:

• KONE Corporation
• TK Elevator (TKE ALAT joint venture with Alat)
• Alat

KONE was awarded the King Fahd International Airport modernization in November 2024 and 67 elevators and escalators with a two-year maintenance deal for Jeddah Tower in the third quarter of 2025. TK Elevator and Alat are building a SAR 285 million manufacturing facility in Dammam, the first TK Elevator site to produce low-, mid- and high-rise elevators and escalators in one location. Market shares and a concentration analysis were not available.

What Does The Full Report Cover?

• Historical, current, and forecast market size for the Saudi Arabia elevator and escalator market from 2020 to 2034, in USD Billion
• Market breakup by type, service, end use, and region
• Regional analysis covering Northern and Central, Western, Eastern, and Southern Saudi Arabia
• Key growth drivers, challenges, and opportunities shaping the market
• Porter’s Five Forces analysis and value chain assessment
• Competitive landscape, market structure, and player positioning
• Detailed profiles of major elevator and escalator companies operating in Saudi Arabia

Recent News and Developments in the Saudi Arabia Elevator and Escalator Market

• February 2025: TK Elevator and Alat announced a EUR 160 million joint venture to produce elevator and escalator solutions in Saudi Arabia, with Alat acquiring a 15 percent stake in TKE.
• Third quarter 2025: KONE was awarded 67 elevators and escalators with a two-year maintenance deal for Jeddah Tower.
• January 2026: Reuters reported that work on the Mukaab in Riyadh was suspended beyond soil excavation and pilings while financing and feasibility are reassessed, with development around it set to continue.
• February 2026: AFP, citing anonymous sources and disputed by Red Sea Global, reported that plans for 81 resorts by 2030 were being scaled back, while Red Sea Global said the project continues in stages.
• May 2026: TKE ALAT announced a development update for its Dammam facility, to cover about 40,000 square meters in Dammam’s Third Industrial City, with completion expected by the end of 2027.
• June 2026: TKE ALAT said it will invest about SAR 285 million in the Dammam manufacturing and multi-purpose facility, which includes production lines, a product development center, a training facility and a regional technical services team.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

Key Questions This Report Answers

• How big is the Saudi Arabia elevator and escalator market and what is its growth outlook through 2034?
• What are the key growth drivers, challenges, and opportunities in the Saudi Arabia elevator and escalator market?
• Which type, service, and end use segments are driving the market?
• How are Vision 2030 projects, building codes, and giga-project recalibration shaping demand?
• Which regions across Saudi Arabia are contributing most to market growth?
• Who are the key players in the Saudi Arabia elevator and escalator market, and how is the competitive landscape evolving?
• What role are smart elevators, modernization, and local manufacturing playing in the future of Saudi vertical transport?

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