<img src="https://ml.globenewswire.com/Resource/Download/908fb457-7f8e-4a08-9081-5565e3dfb3d7?size=2" nborder="0" align="left" hspace="5" vspace="5" title="22157.jpg" alt="Company Logo"/><div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 Vietnamese Elevator and Escalator Market
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 <img src="https://ml.globenewswire.com/Resource/Download/821e70c7-da1b-4b91-b105-a80ec7c76d5c" title="Vietnamese Elevator and Escalator Market" alt="Vietnamese Elevator and Escalator Market" />
 <figcaption>Vietnamese Elevator and Escalator Market</figcaption>
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</div>Dublin, July 15, 2026 (GLOBE NEWSWIRE) -- The <a href="https://www.researchandmarkets.com/reports/6244236/vietnam-elevator-escalator-market-size-and?utm_source=GNE&amp;utm_medium=PressRelease&amp;utm_code=mq24rv&amp;utm_campaign=2301784+-+Vietnam+Elevator+and+Escalator+Market+Forecast+to+Exceed+51k+Units+by+2031+%7c+AI+Integration+in+Elevators+Introduces+New+Opportunities+in+Vietnam%27s+Growing+Market&amp;utm_exec=jocamsai" rel="nofollow" target="_blank" title="Vietnam Elevator and Escalator Market Size &amp; Forecast Report 2026-2031">"Vietnam Elevator and Escalator Market Size &amp; Forecast Report 2026-2031"</a> has been added to ResearchAndMarkets.com's offering. The Vietnam elevator and escalator market is poised for significant growth, with new installations expected to expand at a CAGR of 3.41% from 2025 to 2031. Several key drivers and opportunities underscore this trajectory. Vietnam's large-scale infrastructure and public investments are crucial drivers. In 2025, public investment reached VND 902 trillion ($34 billion), with expectations to grow further. Major transport projects, including high-speed rail and airport development, demand sophisticated vertical transport systems like elevators and escalators. Urban developments, led by top developers, also heighten demand across residential and commercial sectors. <img alt="" height="400" src="//www.researchandmarkets.com/content-images/2510/2510549/1/vietnamese-elevator-and-escalator-market.png" width="600" /> Demographic shifts further fuel market growth, with Vietnam's population projected to reach 104.7 million by 2029. The rapidly ageing population, specifically those over 60, will increase the need for accessible mobility solutions and modernization of existing systems. Regulatory standards are intensifying demand. Buildings with more floors face stricter elevator installation requirements, while firefighting and accessibility-focused features further promote modern vertical transportation systems. These standards ensure compliance and safety, supporting market expansion. Market Opportunities AI integration presents compelling market opportunities. Urban centers like Ho Chi Minh City are increasingly adopting AI-enabled solutions from key players such as KONE, OTIS, and Schindler, which enhance system efficiency and safety through smart sensors and predictive maintenance. Such innovations align with Vietnam's urbanization and smart city agendas. Vietnam's forthcoming Construction Law in 2025 is set to streamline project approvals and accelerate development, hence boosting elevator and escalator demand. The law will enhance transparency, attracting more investments, and encouraging both new builds and modernization efforts. Industry Restraints High costs remain a significant challenge. Installation expenditures often surpass $50,000 per unit, causing adoption hesitancy, particularly in emerging cities. Yearly maintenance costs also place financial burdens on building owners, sometimes leading to delays. Geopolitical tensions and currency depreciation add constraints by affecting investment flow and increasing procurement costs. These external factors can moderate demand growth despite robust underlying conditions. Vendor Landscape International brands like Schindler, Mitsubishi Electric, and KONE dominate the market, while local and Chinese competitors gain ground due to cost advantages. Companies are expanding their offerings, with Schindler launching a new design collection in 2026, and KONE and Mitsubishi entering significant industry agreements and collaborations. <ul><li>Key Vendors: Otis, KONE, Schindler, Mitsubishi Electric, Hitachi.</li><li>Prominent Vendors: Cibes Lift AB, Toshiba, Sanyo Elevators &amp; Escalators Co, Ltd., among others.</li></ul> Key Attributes <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Report Attribute</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">Details</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">No. of Pages</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">129</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Forecast Period</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">2025-2031</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Estimated Market Value in 2025</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">41,717 Units</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Forecasted Market Value by 2031</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">51,013 Units</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Compound Annual Growth Rate</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">3.4%</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; ">Regions Covered</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; ">Vietnam</td></tr></table> For more information about this report visit <a href="https://www.researchandmarkets.com/reports/6244236/vietnam-elevator-escalator-market-size-and?utm_source=GNE&amp;utm_medium=PressRelease&amp;utm_code=mq24rv&amp;utm_campaign=2301784+-+Vietnam+Elevator+and+Escalator+Market+Forecast+to+Exceed+51k+Units+by+2031+%7c+AI+Integration+in+Elevators+Introduces+New+Opportunities+in+Vietnam%27s+Growing+Market&amp;utm_exec=jocamsai" rel="nofollow" target="_blank" title="">https://www.researchandmarkets.com/r/4lsx1n</a> About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. 
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Vietnam Elevator and Escalator Market Forecast to Exceed 51k Units by 2031 | AI Integration in Elevators Introduces New Opportunities in Vietnam's Growing Market

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