Market Research Reports - Ken Research US Elevators and Escalators Market

US Elevators and Escalators Market Outlook to 2022: Ken Research
US Elevators and Escalators Market by New Equipment Installation & Maintenance &
Modernization, by Elevator (by End Usage, by Type of Machinery, by Door Types and by Sector)
and by Escalator (by End Usage and by Escalators and Moving Walkways) - Outlook to 2022”
provides a comprehensive analysis of elevators and escalators market in US. The report covers
US elevators and escalators market size, market segmentations by new equipment installation
& maintenance & modernization, by elevator (by end usage (passenger elevator market and
material handling market), by type of machinery (traction (gear & gearless) & hydraulic
(conventional hydraulic & roped) and MR & MRL), by door types and by sector (commercial
complexes and residential complexes)) and by escalator (by end usage and by escalators &
moving walkways). The report also covers market in different aspects such as trends and
developments, issues and challenges, Porter Five Force analysis, contract for installation and
maintenance of an elevator or escalator, safety rules issued by regulating authority, market
share of major companies, company profiles of major players (Kone, Otis, FujiTec, Schindler,
Mitsubishi and ThyssenKrupp) in elevators and escalators market. The report provides detailed
overview on future outlook & projections with analyst recommendations for the industry.
Industry Overview
The US economy has financially stabilized since the crises and it appears as the worst of the
recession is over. The economy is gradually expanding and is likely to continue the trend in the
future. The unemployment levels are the lowest since 2000 and the fiscal policy has stimulated
growth in investment and consumption. Many large cities in the country, such as New York, Los
Angeles and Miami are showing tremendous growth in high-rise/commercial construction
industry. The elevators and escalators market has also grown substantially in the country. The
market has witnessed growth at a rate of ~% during 2012-2017. The overall market grew from
USD ~ million in 2012 to USD ~ million in 2017. In the wake of the economic crises, companies
operating in the elevators and escalators market are beginning to land with new contracts. The
increased spending on hotels, office buildings, warehouses and data centers for maintenance
and modernization have supported the growth in the industry. The demand for skilled workers
for maintenance and up-keeping has increased in the past few years. The American Society of
Mechanical Engineers (ASME) code that regulates the safety standard for elevators and
escalators is frequently revised for ensuring safety of the users. The companies regularly
modernize their installed equipment to comply with the regulation. With the revival of the
economy the construction industry is also booming and so is the market for elevators and
escalators in the country.
Market Segmentation of US Elevators and Escalators Market