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Elevator and Escalator Market in the US 2017-2021

Elevator and Escalator Market in the US 2017-2021

About Elevator and Escalator

Elevators help move people and goods easily and efficiently within a building. They are installed in commercial buildings, residential buildings, mixed-use buildings, IT parks, hotels, restaurants, and retail outlets. They are also installed in parking areas to optimize the use of space. Escalators are moving stairs/walkways utilized to securely transport masses of individuals, loads, and gears from one point to another. They can be classified into inclined escalators and horizontal escalators. The inclined escalators are the most common form of escalators. The horizontal escalators are more frequently referred as either moving walkways or travellators. They are primarily used in transit applications where a massive traffic is to be transported.

Technavio’s analysts forecast the elevator and escalator market in the USA to grow at a CAGR of 4.24% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the elevator and escalator market in the USA for 2017-2021. To calculate the market size, the report considers the revenue generated from various sources such as installing new units, maintenance of existing units, and modernization of existing units in the country during the forecast period.Technavio's report, Elevator and Escalator Market in the USA 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

  • FUJITEC
  • KONE
  • Mitsubishi Electric US
  • OTIS ELEVATOR
  • Schindler
  • thyssenkrupp Elevator
Other prominent vendors
  • American Crescent Elevator
  • Bramalea Elevator
  • Cambridge Elevating
  • Delta Elevator
  • Excel Elevator & Escalator
  • Excel lifts
  • Federal Elevator
  • Garaventa Lift
  • GEDA USA Elevator and Material Lift Company
  • Gillespie
  • Hidral USA
  • Inclinator Company of America
  • Matot
  • Mowrey Elevator Company
  • Nationwide Lifts
  • PFlow Industries
  • Phoenix Modular Elevator
  • Pneumatic Vacuum Elevators
  • Premier Elevator
  • Savaria
  • Schumacher Elevator Company
  • Symmetry Elevating Solutions
  • Vertechs Elevator Ontario
  • Waupaca Elevator Company
Market driver
  • Demand for modernization and maintenance.
  • For a full, detailed list, view our report
Market challenge
  • Reluctance to modernize and reduce elevators' energy use.
  • For a full, detailed list, view our report
Market trend
  • Increasing adoption of energy-efficient elevators and escalators.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Elevator and Escalator Market in the USA 2017-2021

Technavio recognizes the following companies as the key players in the elevator and escalator market in the USA: FUJITEC, KONE, Mitsubishi Electric US, OTIS ELEVATOR, Schindler, and thyssenkrupp Elevator.

Other Prominent Vendors in the market are: American Crescent Elevator, Bramalea Elevator, Cambridge Elevating, Delta Elevator, Excel Elevator & Escalator, Excel lifts, Federal Elevator, Garaventa Lift, GEDA USA Elevator and Material Lift Company, Gillespie, Hidral USA, Inclinator Company of America, Matot, Mowrey Elevator Company, Nationwide Lifts, PFlow Industries, Phoenix Modular Elevator, Pneumatic Vacuum Elevators, Premier Elevator, Savaria, Schumacher Elevator Company, Symmetry Elevating Solutions, Vertechs Elevator Ontario, and Waupaca Elevator Company.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is rise of smart elevators. Smart elevators utilize different sensors to recognize the ongoing activity of various components in the lift. This data from the sensors are validated and sent to an application. The application then processes the data in real-time for various benefits. Major vendors such as KONE and Otis Elevator are partnering with technology giants that include Apple, IBM, and Microsoft to improve product offerings.”

According to the report, one driver in market is stringent safety regulations. Though stricter norms could have reduced the damage or death, each year there are lethal mishaps that bring up the issue whether. After the two deadly mishaps in December 2011, two areas have come in for examination. One is licensing prerequisites for elevator professionals, and the other is the safety standards that apply to more established existing lifts. In both the cases, the maintenance office needs to follow local and state laws. The standard followed by most service providers is American Society of Mechanical Engineers (ASME) standard A17.1 and Safety Code for Elevators and Escalators. As the regulations get more stringent, the elevators must be modernized or replaced to meet the new requirements. For example, the recent revision ensured that any hydraulic elevator that has a portion of the cylinder covered in the ground and a cylinder without a safety bulkhead or dual cylinder should be replaced with a cylinder with polyvinyl chloride (PVC) linings for corrosion protection.

Further, the report states that one challenges in market is fragile US construction market. In 2015, housing and office construction spurred the construction boom. The fast pace of apartment building had saturated a few markets. Foreign investments sought higher returns and invested heavily in skyscraper apartment suites in Miami and hotels in New York, making some overcapacity. As an example, Pollack Shores Real Estate Group put on hold arrangements to construct a 315-unit apartment complex in the Atlanta region as a few new structures entered the market. The stoppage in construction works can also be found in construction payrolls. Balanced for occasional variances, the quantity of individuals working in the field dropped by 22,000 in March 2016. It was first run through the occupation check and had dropped for two straight months since 2012. However, the net payroll addition for the year remained positive.

Companies Mentioned

FUJITEC, KONE, Mitsubishi Electric US, OTIS ELEVATOR, Schindler, thyssenkrupp Elevator, American Crescent Elevator, Bramalea Elevator, Cambridge Elevating, Delta Elevator, Excel Elevator & Escalator, Excel lifts, Federal Elevator, Garaventa Lift, GEDA USA Elevator and Material Lift Company, Gillespie, Hidral USA, Inclinator Company of America, Matot, Mowrey Elevator Company, Nationwide Lifts, PFlow Industries, Phoenix Modular Elevator, Pneumatic Vacuum Elevators, Premier Elevator, Savaria, Schumacher Elevator Company, Symmetry Elevating Solutions, Vertechs Elevator Ontario, and Waupaca Elevator Company.

  • Executive summary
  • Scope of the report
    • Market overview
      • Table Market size calculation steps
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Classification of elevators
      • Table Classification of escalators
  • Market landscape
    • Market overview
      • Table Market classification
    • Market size and forecast
      • Table Elevator and escalator market in US 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Elevator and escalator market in US by product
      • Table Elevator and escalator market in US by product 2016-2021 (%)
    • Elevator market in US
      • Table Elevator market in US 2016-2021 ($ millions)
      • Table List of proposed high-rise construction projects expected to boost elevator market in US
    • Escalator market in US
      • Table Escalator market in US 2016-2021 ($ millions)
      • Table List of construction projects expected to boost escalator market in US
  • Market segmentation by service
    • Elevator and escalator market in US by service
      • Table Elevator and escalator market in US by service 2016 and 2021 (%)
    • Elevator and escalator market in US by new installations
      • Table Elevator and escalator market in US by new installations 2016-2021 ($ millions)
      • Table Elevator and escalator market in US by maintenance 2016-2021 ($ millions)
    • Elevator and escalator market in US by modernization
      • Table Elevator and escalator market in US by modernization 2016-2021 ($ millions)
  • Market drivers
    • Changing demographics
    • Demand for modernization and maintenance
    • Increasing adoption of smart homes
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
  • Key vendor analysis
    • FUJITEC
      • Table FUJITEC: Elevator technical specifications
      • Table FUJITEC: Recent developments
    • KONE
      • Table KONE: Elevators technical specifications
      • Table KONE: Escalator technical specifications
      • Table KONE: Escalator technical specifications
      • Table KONE: Moving walkways technical specifications
      • Table KONE: Recent developments
    • Mitsubishi Electric US
      • Table Mitsubishi Electric US: Business segmentation
      • Table Mitsubishi Electric US: Recent developments
    • Otis Elevator
      • Table Otis Elevator: Technical specifications
      • Table Otis Escalators technical specifications
      • Table Otis moving walkways technical specifications
      • Table Otis Elevator: Recent developments
    • Schindler
      • Table Schindler: Recent developments
    • thyssenkrupp Elevator
      • Table thyssenkrupp Elevator: Technical specifications
      • Table thyssenkrupp Escalator: Technical specifications
      • Table ThyssenKrupp moving walks: Technical specifications
    • Recent developments
      • Table thyssenkrupp Elevator: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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