The global elevator and escalator market size was valued at USD 78.60 billion in 2021 and is poised to grow with a CAGR of 6.2% over 2022-2028. The efficiency of elevators and escalators in vertical transportation is the primary goal of their utilisation. An elevator is a closed cabin powered by electric motors that lift a cylindrical piston by driving traction cables, counterweight systems, or...
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