Elevator Installation & Service in the US - Industry Market Research Report

Elevator Installation & Service in the US - Industry Market Research Report

  • April 2020 •
  • 38 pages •
  • Report ID: 1034380 •
  • Format: PDF
Going up: As the value of private nonresidential construction rises, industry demand will increase

Abstract

Elevator Installation & Service in the US
The Elevator Installation and Service industry’s performance is heavily dependent on investment in construction, new capital equipment and the overall health of the economy. Over the five years to 2019, industry performance has trended upward as construction markets continued their recovery. Early during the five-year period to 2019, the industry experienced strong growth due to recoveries across key construction markets as well as a spike in corporate profit. As corporate profit declined later during the current period and private investment in manufacturing facilities fell, industry revenue growth faltered slightly as well. Over the five years to 2024, industry revenue is projected to continue growing. Repair and maintenance contracts are expected to continue providing an important cushion for many operators, as all products require this service and repairs generally cannot be put off. The industry is also expected to benefit from an increase in industrial activity, particularly in the Great Lakes region, aided by a rebound in the manufacturing sector.

This industry comprises establishments primarily engaged in one or more of the following activities: the installation or dismantling of elevators, escalators and moving walkways; machine rigging; millwrighting; and modernization and maintenance of products installed, which includes elevators, dumbwaiters, escalators, conveyor systems and automated revolving doors.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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