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.
Elevators and Escalators market in US has been supported by maintenance and modernization of existing equipments and the stabilizing economy of the country.
The increasing investment by the government in public infrastructure and rise in number of commercial and residential complexes will lead the growth of the US elevators and escalators market in the upcoming years.
The US is gradually reviving from the economic crises of 2007. The expansion of the economy is likely to continue on the back of strong business and consumer confidence. Owing to the fiscal policy of the country it is assumed that the tax rates will be lowered and the investment and consumption will increase. There is a positive outlook towards business in the country. The government’s investment in public infrastructure is expected to increase in the future. With the development of public spaces in towns and cities the demand for elevators and escalators will be augmented in the future.
The companies in the industry are constantly investing in development of new technology and safe designs. The introduction of these pioneering designs and innovations instill growth in the industry for years to come. The integration of mobile technology is opening new gates of innovation & operational efficiency for companies and making jobsites safer for workers. The number of commercial and residential complexes throughout the country is increasing substantially. A boom in the US real estate sector is expected after years of negative growth. The unemployment rate in the country has fallen substantially and is expected to dip further. The migration towards town and metro cities is expected to increase, which will lead to increase in urban population of the country. Increase in urban population will further create demand for housing and commercial space and will positively affect the elevator and escalator industry. A number of new projects have further propelled growth in the industry. Projects like the development of three world trade centers in New York, mass number of high-rise buildings in Portland, expansion projects in university of Virginia, University of North Carolina, Cleveland State University, Marquette University and other notable projects across the country will provide robust growth to the industry.
Ken Research in its latest study, 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, suggests that the elevator and escalator market in the US will grow at a gradual rate owing to the rise in real estate investment and growing urban population.
Key Topics Covered in the Report:
US Elevator Maintenance Market 2017
US Elevator Demand
US Elevator Maintenance Market
US Escalators Maintenance Market
Hydraulic Elevators Demand in US
New Equipment Installations in US Elevators Market
US Elevators and Escalators Market
US Elevators and Escalators Market Outlook
Major Companies US Elevators and Escalators Market
Thyssenkrupp US Revenue from Elevators and Escalators
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Ankur Gupta, Head Marketing & Communications