The United States gross domestic product (GDP) was forecast to reach over 30.1 trillion U.S. dollars in 2025. Furthermore, by 2035, it is expected to surpass 43.9 trillion U.S. dollars. GDP refers to the market value of all final goods and services produced within a country in a given period.

The main stock market index of United States, the US500, rose to 6818 points on December 2, 2025, gaining 0.08% from the previous session. Over the past month, the index has declined 0.50%, though it remains 12.70% higher than a year ago, according to trading on a contract for difference (CFD) that tracks this benchmark index from United States. United States Stock Market Index - values, historical data, forecasts and news - updated on December of 2025.

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US Professional Development Market Size 2025-2029

The US professional development market size is valued to increase USD 5.56 billion, at a CAGR of 6.9% from 2024 to 2029. Technological innovations that complement professional development courses will drive the US professional development market.

Major Market Trends & Insights

By End-user - K-12 segment was valued at USD 5.78 billion in 2022
By Type - Online segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 72.86 billion
Market Future Opportunities: USD 5.56 billion
CAGR from 2024 to 2029 : 6.9%

Market Summary

The Professional Development Market in the US is a significant and continually expanding domain, with businesses investing heavily in upskilling and reskilling their workforce to remain competitive. According to recent data, the market is valued at over USD70 billion, reflecting the growing recognition of the importance of continuous learning in today's dynamic business environment (MarketDataForecast, 2021). Technological innovations play a pivotal role in this evolution, with mobile learning and open educational resources gaining increasing popularity. These advancements offer flexibility and accessibility, enabling professionals to learn at their own pace and convenience. Moreover, they cater to diverse learning styles and preferences, fostering a more engaging and effective learning experience.
The market's expansion is driven by several factors, including the evolving nature of industries, the increasing complexity of jobs, and the growing demand for a skilled workforce. Additionally, companies recognize that investing in their employees' professional development not only enhances their productivity and job satisfaction but also boosts employee retention and overall organizational success. Despite these opportunities, challenges persist, such as the need for standardized learning metrics and the integration of technology with traditional training methods. Addressing these challenges will be crucial for the market's continued growth and the effective delivery of professional development programs to businesses and individuals alike.

What will be the Size of the US Professional Development Market during the forecast period?

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How is the Professional Development in US Market Segmented and what are the key trends of market segmentation?

The professional development in US industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  K-12
  Higher education
  Corporate/Organisation


Type

  Online
  Offline


Product

  Career advancement
  Skill enhancement
  Compliance and regulatory requirements
  Personal growth


Career Type

  Entry-level
  Mid-level
  Senior-level
  Executive education


Delivery Method

  Blended Learning
  Workshops
  Coaching


Geography

  North America

    US

By End-user Insights

The k-12 segment is estimated to witness significant growth during the forecast period.

The Professional Development Market in the US continues to evolve, with a significant focus on enhancing employee skills and competencies. According to recent studies, corporate training programs accounted for over 60% of the total professional development expenditure in 2020. This trend is expected to persist, with a growing emphasis on blended learning models, microlearning modules, and personalized learning experiences. Career development pathways, performance improvement plans, and competency frameworks are increasingly being adopted to align training initiatives with organizational goals. Elearning content development, gamified learning, soft skills training, and compliance training are popular areas of focus, with virtual instructor-led training and online learning platforms facilitating flexible and accessible learning opportunities.

Management training programs, talent management strategies, and employee engagement surveys are essential components of effective training programs. However, the vast array of training options and evolving teaching methods can be overwhelming, necessitating training program evaluation and learning analytics dashboards to measure training effectiveness metrics. Technical skills training, leadership development initiatives, and sales training programs are crucial for businesses to remain competitive. Knowledge management systems enable organizations to leverage their intellectual capital and foster a culture of continuous learning. The integration of artificial intelligence and machine learning in training programs further enhances their effectiveness. With the increasing importance of professional certif

In 2025, it was estimated that over 163 million Americans were in some form of employment, while 4.16 percent of the total workforce was unemployed. This was the lowest unemployment rate since the 1950s, although these figures are expected to rise in 2023 and beyond. 1980s-2010s Since the 1980s, the total United States labor force has generally risen as the population has grown, however, the annual average unemployment rate has fluctuated significantly, usually increasing in times of crisis, before falling more slowly during periods of recovery and economic stability. For example, unemployment peaked at 9.7 percent during the early 1980s recession, which was largely caused by the ripple effects of the Iranian Revolution on global oil prices and inflation. Other notable spikes came during the early 1990s; again, largely due to inflation caused by another oil shock, and during the early 2000s recession. The Great Recession then saw the U.S. unemployment rate soar to 9.6 percent, following the collapse of the U.S. housing market and its impact on the banking sector, and it was not until 2016 that unemployment returned to pre-recession levels. 2020s 2019 had marked a decade-long low in unemployment, before the economic impact of the Covid-19 pandemic saw the sharpest year-on-year increase in unemployment since the Great Depression, and the total number of workers fell by almost 10 million people. Despite the continuation of the pandemic in the years that followed, alongside the associated supply-chain issues and onset of the inflation crisis, unemployment reached just 3.67 percent in 2022 - current projections are for this figure to rise in 2023 and the years that follow, although these forecasts are subject to change if recent years are anything to go by.

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Mutual Funds Market Size 2025-2029

The mutual funds market size is valued to increase USD 85.5 trillion, at a CAGR of 9.9% from 2024 to 2029. Market liquidity will drive the mutual funds market.

Major Market Trends & Insights

North America dominated the market and accounted for a 52% growth during the forecast period.
By Type - Stock funds segment was valued at USD 50.80 trillion in 2023
By Distribution Channel - Advice channel segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 151.38 trillion
Market Future Opportunities: USD 85.50 trillion
CAGR : 9.9%
North America: Largest market in 2023

Market Summary

The market represents a dynamic and ever-evolving financial landscape, characterized by continuous growth and innovation. With core technologies such as artificial intelligence and machine learning increasingly shaping investment strategies, mutual funds have become a preferred choice for individual and institutional investors alike. According to recent reports, mutual fund assets under management globally reached an impressive 61.8 trillion USD as of 2021, underscoring the market's substantial size and influence. However, the market is not without challenges. Transaction risks, regulatory compliance, and competition from alternative investment vehicles remain significant hurdles.
Despite these challenges, opportunities abound, particularly in developing nations where mutual fund adoption rates have been on the rise. For instance, mutual fund assets in Asia Pacific grew by 15.3% in 2020, outpacing the global average. As market liquidity continues to improve and regulatory frameworks evolve, the market is poised for further expansion and transformation.

What will be the Size of the Mutual Funds Market during the forecast period?

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How is the Mutual Funds Market Segmented and what are the key trends of market segmentation?

The mutual funds industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD trillion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Stock funds
  Bond funds
  Money market funds
  Hybrid funds


Distribution Channel

  Advice channel
  Retirement plan channel
  Institutional channel
  Direct channel
  Supermarket channel


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    Australia
    China
    India


  Rest of World (ROW)

By Type Insights

The stock funds segment is estimated to witness significant growth during the forecast period.

Mutual funds, specifically those investing in stocks, constitute a significant segment of the financial market. These funds exhibit diverse characteristics, catering to various investor preferences. For instance, growth funds prioritize stocks with high growth potential, while income funds focus on securities yielding regular dividends. Index funds mirror a specific market index, such as the S&P 500, and sector funds zero in on a particular industry sector. Share classes within mutual funds differ based on the share of investment. For example, large-cap funds allocate a minimum of 80% of their assets to large-cap companies, which represent the top 100 firms in terms of market capitalization.

Investors can opt for dividend reinvestment plans, enabling them to reinvest their dividends to maximize returns. Tax-efficient investing strategies, such as tax-loss harvesting, help minimize tax liabilities. Bond fund yields and currency exchange risk are essential considerations for investors in bond funds. Risk management strategies, including diversification and asset allocation models, play a crucial role in mitigating potential losses. Fund manager expertise and regulatory compliance frameworks are essential factors for investors. Hedge fund strategies, financial statement audits, actively managed funds, and passive investment strategies all contribute to the evolving mutual fund landscape. Expense ratios, asset allocation models, capital gains distributions, and portfolio rebalancing techniques are essential metrics for evaluating mutual fund performance.

Inflation-adjusted returns and equity fund volatility are crucial for long-term investment planning. Alternative investment funds and exchange-traded funds (ETFs) offer additional investment opportunities, with global diversification benefits and passive investment strategies gaining popularity. Nav calculation methods and passive investment strategies further broaden the scope of mutual fund investments. According to recent studies, stock mutual fund adoption stands at 35%, with expectations of a 21% increase in industry participation over the next five years. Meanwhil

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US Residential Construction Market Size 2025-2029

The us residential construction market size is valued to increase USD 242.9 million, at a CAGR of 4.5% from 2024 to 2029. Increasing household formation rates will drive the us residential construction market.

Major Market Trends & Insights

By Product - Apartments and condominiums segment was valued at USD 509.50 million in 2022
By Type - New construction segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 39.65 million
Market Future Opportunities: USD 242.90 million
CAGR from 2024 to 2029 : 4.5%

Market Summary

The Residential Construction Market in the US is a dynamic and evolving industry, shaped by various factors and trends. Core technologies and applications, such as Building Information Modeling (BIM) and energy-efficient systems, are increasingly adopted to enhance project efficiency and sustainability. In fact, the use of BIM in residential construction is projected to reach 50% penetration by 2025, according to industry reports. Service types and product categories, including general contracting, design-build, and modular housing, cater to diverse residential construction needs. However, challenges persist, including rising material costs and skilled labor shortages for large-scale residential real estate projects. Regulations, such as the International Energy Conservation Code, drive the focus on sustainability in residential construction projects. The regional landscape is diverse, with the South and West regions leading in residential construction activity due to population growth and favorable economic conditions. These evolving market dynamics offer significant opportunities for industry players to innovate and adapt to the changing landscape.

What will be the Size of the US Residential Construction Market during the forecast period?

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How is the Residential Construction in US Market Segmented and what are the key trends of market segmentation?

The residential construction in us industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductApartments and condominiumsLuxury HomesOther typesTypeNew constructionRenovationApplicationSingle familyMulti-familyConstruction MaterialWood-framed ConcreteSteel Modular/PrefabricatedGeographyNorth AmericaUS

By Product Insights

The apartments and condominiums segment is estimated to witness significant growth during the forecast period.

The residential construction market in the US continues to evolve, with apartments and condominiums being key contributors to its growth. Urbanization is a significant driver, as more Americans opt for the convenience and amenities of city living. In response, developers are constructing modern, sustainable, and community-focused high-rise buildings and condominium complexes. Smart home technology and energy efficiency standards are becoming increasingly important in these projects, with Building Information Modeling (BIM) software guiding the design process. Modular construction, geotechnical engineering, and quality control measures ensure structural integrity and safety. Building codes and permitting processes are strictly adhered to, with green building certifications such as LEED and Energy Star driving the adoption of sustainable building practices. Masonry techniques, foundation design, and exterior cladding are essential elements of the construction process, with insulation materials and HVAC systems ensuring energy efficiency. Safety regulations govern electrical wiring, roofing systems, and plumbing fixtures. Construction scheduling is facilitated by project management software, with prefabricated components and 3D building modeling streamlining the process. Construction automation and waste management are also crucial considerations, with cost estimation models helping developers stay within budget. Environmental impact assessments and structural engineering studies are essential to minimize the environmental footprint and ensure safety. Framing techniques and foundation design are optimized for durability and cost-effectiveness. Safety regulations and quality control measures are strictly enforced to ensure the safety and satisfaction of residents. Overall, the residential construction market in the US is dynamic and forward-thinking, with a focus on sustainability, safety, and community.

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The Apartments and condominiums segment was valued at USD 509.50 million in 2019 and showed a gradual increase during the forecast period.

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Market Dynamics

Our researchers analyzed the data with 2024 as

Czech Republic CZ: Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data was reported at 208.000 USD bn in Dec 2021. This records an increase from the previous number of 206.000 USD bn for Sep 2021. Czech Republic CZ: Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data is updated quarterly, averaging 170.500 USD bn from Mar 1995 (Median) to Dec 2021, with 108 observations. The data reached an all-time high of 212.000 USD bn in Dec 2019 and a record low of 113.000 USD bn in Mar 1995. Czech Republic CZ: Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Czech Republic – Table CZ.OECD.EO: GDP by Expenditure: Volume: Forecast: OECD Member: Quarterly. GDPV_USD-Gross domestic product, US $, volume, constant exchange rates, EO base yearExpenditure approach OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf

Ireland IE: Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data was reported at 370.000 USD bn in Dec 2021. This records an increase from the previous number of 367.000 USD bn for Sep 2021. Ireland IE: Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data is updated quarterly, averaging 206.000 USD bn from Mar 1990 (Median) to Dec 2021, with 128 observations. The data reached an all-time high of 386.000 USD bn in Mar 2020 and a record low of 80.218 USD bn in Mar 1990. Ireland IE: Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Ireland – Table IE.OECD.EO: GDP by Expenditure: Volume: Forecast: OECD Member: Quarterly. GDPV_USD-Gross domestic product, US $, volume, constant exchange rates, EO base yearExpenditure approach OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf

US Patient Engagement Solutions Market size was valued at USD 5.09 billion in 2021 and is poised to grow from USD 5.87 billion in 2022 to USD 17.64 billion by 2030, growing at a CAGR of 15.28% in the forecast period (2023-2030).

US Hair Brush Market size was valued at USD 1.25 billion in 2021 and is poised to grow from USD 1.25 billion in 2022 to USD 1.28 billion by 2030, growing at a CAGR of 0.25% in the forecast period (2023-2030).

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Alternative Finance Market Size 2024-2028

The alternative finance market size is estimated to increase by USD 64.3 billion at a CAGR of 7.44% between 2023 and 2028. The key factor driving the market forward is the potential for higher returns for investors. Alternative finance channels offer significantly greater returns compared to traditional investment options like fixed deposits (FDs) or government bonds from conventional financial institutions. Another important contributor to market growth is the rapid expansion in the APAC region and the increasing focus on structured finance. Alternative finance platforms, such as P2P lending, crowdfunding, and invoice trading, are gaining traction in APAC, driven by the presence of numerous small and medium-sized enterprises (SMEs).

What will be the Size of the Alternative Finance Market During the Forecast Period?

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Alternative Finance Market Segmentation

The alternative finance market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

Type Outlook 

  P2P lending
  Crowdfunding
  Invoice trading





End-User Outlook

  Individual
  Organization





Region Outlook

  North America

    The U.S.
    Canada





  Europe

    The U.K.
    Germany
    France
    Rest of Europe





  APAC

    China
    India


  South America

    Chile
    Argentina
    Brazil





  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa

By Type

The alternative financing market share growth in the segment of P2P lending will be significant during the forecast period. The P2P consumer lending sub-segment holds a major share of the P2P lending segment due to the growth in the number of online consumer lending platforms and the increasing use of technology in financial transactions. Some popular P2P lending platforms include LendingClub, Zopa, Bondora Capital, Prosper Marketplace, and Upstart Network. However, P2P lending is associated with a high risk of defaults as the loans are unsecured. Therefore, large investors usually maintain a spread portfolio of their investments. P2P lending is also associated with challenges such as platform failures, the risk of fraud, hacking, and data theft. These factors are expected to augment the demand of the P2P lending segment hence driving the growth of the market in focus during the forecast period.

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The P2P lending segment was valued at USD 123.70 billion in 2018. In this segment, P2P lending is similar to credit obtained from financial institutions. However, the funds are raised from one or more independent investors. P2P borrowers must make weekly or monthly repayments of the principal amount with interest. P2P lending is usually carried out through online platforms. Investors directly select businesses to fund, or the lending platforms provide the terms of credit. Some variations in the model allow investors to bid on loan amounts and interest rates through an online auction. P2P lending is popular among individual borrowers and SMEs, as small to medium-scale loans can be obtained easily. Several individuals opt for P2P loans for debt consolidation, which allows them to pay debts accrued from credit cards or loans from financial institutions.

By Region

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North America is estimated to contribute 70% to the global alternative financing market during the forecast period. Technavio's analysts have elaborately explained the regional market growth and trends that shape the market during the forecast period. The growth of P2P lending and crowdfunding has increased significantly in North America. The increasing number of students, growing awareness about clearing personal debt, rising Internet penetration, technological advances, the rise of online trading platforms and finance platforms, and the presence of prominent companies are the major factors driving the market in North America. The number of SMEs has grown significantly in North America. Therefore, a growing number of SMEs in this region are boosting the growth in North America.

Alternative Finance Market Dynamics

The market is reshaping the landscape traditionally dominated by conventional big banks and regulated banks. Instead of relying solely on traditional finance systems, entrepreneurs and investors are increasingly turning to alternative lenders and innovative financial services solutions. Online lenders offer streamlined access to capital, while reward-based crowdfunding and equity-based crowdfunding present opportunities for fun

The U.S. RTD Organic Tea Market size was valued at USD 2.29 billion in 2021 and is expected to grow to USD 3.37 billion by 2030, with a CAGR of 4.4% during the forecast period (2023-2030).

North America Marshmallow Market size was valued at USD 340.25 billion in 2021 and is poised to grow from USD 362.7 billion in 2022 to USD 604.79 billion by 2030, at a CAGR of 6.60% during the forecast period (2023-2030).

South Korea Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data was reported at 1,670.000 USD bn in 2021. This records an increase from the previous number of 1,620.000 USD bn for 2020. South Korea Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data is updated yearly, averaging 423.500 USD bn from Dec 1960 (Median) to 2021, with 62 observations. The data reached an all-time high of 1,670.000 USD bn in 2021 and a record low of 25.717 USD bn in 1960. South Korea Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.EO: GDP by Expenditure: Volume: Forecast: OECD Member: Annual. GDPV_USD-Gross domestic product, US $, volume, constant exchange rates, EO base yearExpenditure approach OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf

• The global industry was valued at US$ 106.6 Bn in 2023
• It is estimated to grow at a CAGR of 7.7% from 2024 to 2034 and reach US$ 258.0 Bn by the end of 2034

Market Introduction

Regional Outlook

IoT Sensors Market Snapshot

The North America 5G Chipset Market would witness market growth of 18.7% CAGR during the forecast period (2024-2031). The US market dominated the North America 5G Chipset Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $31,979.2

U.S. Genetic Testing Market size was valued at USD 5.27 Billion in 2022 and is poised to grow from USD 5.6 billion in 2023 to USD 10.45 billion by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).

U.S. Potato Chips Market size was valued at USD 6.75 billion in 2021 and is poised to grow from USD 7.2 billion in 2022 to USD 11.63 billion by 2030, growing at a CAGR of 6.7% in the forecast period (2023-2030).

• The global industry was valued at US$ 16.3 Bn in 2022
• It is estimated to grow at a CAGR of 7.6% from 2023 to 2031 and reach US$ 31.3 Bn by the end of 2031

Market Introduction

Regional Outlook of Essential Oils Industry

Essential Oils Market Snapshot

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US Elevator and Escalator Market Size 2024-2028

The US elevator and escalator market size is valued to increase USD 2.82 billion, at a CAGR of 6.36% from 2023 to 2028. Increasing demand for elevators and escalators due to changing demographics will drive the US elevator and escalator market.

Major Market Trends & Insights

By Product - Elevators segment was valued at USD 5.90 billion in 2022
By Service - New installations segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 57.72 billion
Market Future Opportunities: USD 2.82 billion
CAGR from 2023 to 2028 : 6.36%

Market Summary

The Elevator and Escalator Market in the US is a dynamic and continually evolving industry, driven by advancements in core technologies and applications. With increasing demand for vertical transportation solutions due to changing demographics and urbanization, the market is witnessing significant growth. Notably, the rise of smart elevators, featuring advanced features like energy efficiency, automatic door systems, and real-time monitoring, is gaining traction. However, the fragile US construction market poses a challenge, as economic fluctuations can impact market growth. According to a recent report, the smart elevator market in the US is projected to reach a 30% market share by 2025, underscoring the potential for innovation and growth in this sector.
The regulatory landscape, including safety standards and energy efficiency regulations, also plays a crucial role in shaping the market.

What will be the Size of the US Elevator and Escalator Market during the forecast period?

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How is the Elevator and Escalator in US Market Segmented and what are the key trends of market segmentation?

The elevator and escalator in US industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Elevators
  Escalators


Service

  New installations
  Maintenance
  Modernization


Application

  Commercial
  Residential
  Industrial


Geography

  North America

    US

By Product Insights

The elevators segment is estimated to witness significant growth during the forecast period.

The Elevator and Escalator Market in the US is characterized by continuous evolution and ongoing activities. New installations, including units and services, account for a significant portion of revenue generation. In low-rise buildings below 35 meters, hydraulic elevator systems are prevalent due to their cost-effectiveness for maintenance. Mid-size buildings, between 35 and 100 meters, utilize both Machine Room Less (MRL) and traction elevator technologies. Traction elevators are favored for their superior performance, while MRL elevators are preferred in space-constrained environments. High-rise buildings, over 100 meters, primarily employ gearless traction elevators for their fast speeds and are often skyscrapers that implement destination dispatch technologies.

Modernization projects, including elevator inspection, capacity upgrades, component replacement, and automation, are essential for maintaining elevator reliability and safety. Key aspects of modernization include elevator control systems, emergency stops, escalator speed, step chains, and escalator drive systems. Elevator efficiency, passenger capacity, and accessibility are also crucial considerations, with safety features and handrail systems ensuring user experience and compliance with safety codes. Regular maintenance, including inspections and preventative measures, are essential for ensuring escalator and elevator functionality and longevity.

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The Elevators segment was valued at USD 5.90 billion in 2018 and showed a gradual increase during the forecast period.

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Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The elevator and escalator market in the US is a significant sector within the building infrastructure industry, encompassing various aspects such as elevator hoistway construction requirements, escalator handrail drive system maintenance, and elevator control system programming techniques. This market is characterized by a constant focus on ensuring safety, efficiency, and reliability, with escalator safety audit procedures compliance and elevator emergency power backup systems being crucial elements. Elevator modernization plays a pivotal role in enhancing building efficiency, with escalator passenger flow optimization strategies and elevator pr