Elevators and Escalators Market in the US 2015-2019
About elevators and escalators
Elevators and escalators are positioned in buildings for efficient movement of people and goods within a building's premises. They are installed in commercial, residential, and mixed-used buildings. They are also installed in public places to improve vehicle parking management.
Technavio's analysts forecast the elevator and escalator market in the US to grow at a CAGR of 0.71%, in terms of new installed units, over the period 2014-2019.
Covered in this report
In this report, Technavio includes the present scenario and growth prospects of the elevator and escalator market in the US for 2015-2019. To calculate the market size, we consider the number of new elevator and escalator units installed in the country during the forecast period. The report also presents the vendor landscape and a corresponding detailed analysis of the key vendors in the market, and a brief description on the other prominent vendors. In addition, the report discusses the major drivers that influence the growth of the elevator and escalator market in the US. It also outlines the challenges faced by the vendors and the market at large, and highlights the key trends in the market.
Technavio's report, Elevator and Escalator Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts.
Key customer segments
Technavio Announces the Publication of its Research Report – Elevators and Escalators Market in USA 2015-2019
Technavio recognizes the following companies as the key players in the Elevators and Escalators Market in USA: KONE US, Mitsubishi Electric US, Otis Elevator, Schindler US and ThyssenKrupp Elevator Americas
Other Prominent Vendors in the market are: American Crescent Elevator, Excel Elevator and Escalator, Fujitec America and GEDA
Commenting on the report, an analyst from Technavio’s team said: “Because of the advantages of MRL lifts, not only in terms safety but also in general, manufacturers in the US have gradually started to increase their production. The major advantages of these elevators are that there is no need for additional space or an operator. Further, since they are gearless, fewer mechanical parts are installed, leading to lower power consumption and maintenance costs. The gear system is replaced with a roller-shoe suspension, which enables a smooth ride and landing.”
According to the report, age is a major factor that influences the use of elevators and escalators. There has been a decrease in the mortality rate since 2001, leading to a considerable increase in the aging population of US. In 2014, approximately $40 billion was invested by the US government in healthcare infrastructure and facilities.
Further, the report states that steel, copper, and aluminum form the basic raw materials for the manufacture of elevator and escalator parts. The demand for elevators and escalators is expected to be moderate during the forecast period.
KONE US, Mitsubishi Electric US, Otis Elevator, Schindler US, ThyssenKrupp Elevator Americas, American Crescent Elevator, Excel Elevator and Escalator, Fujitec America, GEDA
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook