Market Research Reports - Ken Research US Elevator and Escalator Market Major Players | Page 3

Kone is one of the leading manufacturers of elevators and escalators in the world. The company
was founded in 1910 and has its headquarters in Espoo near Helsinki, Finland. Apart from
manufacturing of elevators and escalators the company provides maintenance and
modernization services. The company was also the pioneer in machine room less elevator
system. The company accounted for a share of ~% in the overall elevator and escalator market
in US during 2017. Otis is the world’s largest manufacturer of vertical transport systems. The
company is a pioneer of safety elevator in the industry. The company has its headquarters in
Farmington, Connecticut, US and employees around 66,000 people worldwide in more than 200
countries. The company accounted for a share of ~% in the overall elevator and escalator
market in US during 2017. Fujitec is a Japanese company founded in 1948 in Osaka, Japan. The
company also has its operational headquarters in Americas, South Asia, East Asia and Europe.
The company has its sales and services office at different locations in the country. The company
accounted for a share of ~% in the overall elevator and escalator market in US during 2017.
Schindler is a Swiss company founded in 1874 and has its headquarters in Ebikon, Switzerland.
The company employs more than 5,000 people in over 250 locations across North America. The
company accounted for a share of ~% in the overall elevator and escalator market in US during
2017. Mitsubishi Electric was founded in 1921 in Japan. The company started manufacturing
elevators and escalators in 1931 and started its elevator business in the US in 1985. The
company has its offices at multiple locations throughout the country. The company accounted
for a share of ~% in the overall elevator and escalator market in US during 2017. ThyssenKrupp
is a multinational conglomerate based in Duisberg and Essen, Germany. The company is one of
the leading manufacturers of elevators and escalators in the world. The company accounted for
a share of ~% in the overall elevator and escalator market in US during 2017.
Future Potential of US Elevators and Escalators Market
The revenue from the US elevators and escalators industry is projected to register modest
growth over the period 2018-2022. It is projected to grow by CAGR of ~% over the period 2018-
2022 and is expected to reach USD ~ million in 2022 as compared to USD ~ million in 2018. The
country is reviving from the recession and the future prospects of the growth in the economy
look robust. The country’s real estate sector is witnessing growth and is expected to receive
more investments in the future. The urban population in US has been on the rise, and with
growing opportunities more people are expected to migrate towards cities. This will further
create the demand for urban infrastructure and thus will be a key driver of growth in the
elevator and escalator market in the US. With the stabilizing economy the investment for
building commercial high rise buildings, public infrastructure requirements and residential
complexes is expected to grow substantially. All these factors collectively will foster growth in
the market.