US Elevator Demand, Kone US Revenue from Elevators and Escalators

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US Elevators and Escalators Market Outlook to
2022 Ken Research
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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.
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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.
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Market Segmentation of US Elevators and
Escalators Market US Elevators and Escalators
Market The US market for elevators and
escalators has been bifurcated into two segments
new equipment installation and maintenance
modernization. In 2017, the revenue contributed
by installation of new equipment was (USD
million) of the total elevators and escalators
market in US. While the rest (USD million)
of share in the market was contributed by
maintenance and modernization of already
installed equipments. US Elevators Market
Segmentation The elevators market in the US has
been further segmented by sector, by types of
machinery, door types and by end usage. On the
basis of sector, the elevator market can further
be bifurcated into elevators used in commercial
complexes (retail spaces, office complexes,
schools colleges, hospitals, hotels and public
infrastructure (airports, railways etc.)) which
contributed (USD million) of the overall
elevator market in 2017, while the rest (USD
million) was contributed by elevators used in
residential complexes. By type of machinery used,
the elevator market was bifurcated into traction
machinery which contributed (USD million)
and the rest (USD million) was contributed
by hydraulic machinery.
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The elevator market can also be bifurcated into
Machine Room (MR) which contributed (USD
million) and Machine Room Less (MRL) which
contributed (USD million) of the overall
elevator market in 2017. The elevator market has
also been bifurcated on the different types of
doors used in an elevator. On the basis of end
usage the elevator market has been segmented into
passenger elevator market and material handling
elevator market. The passenger elevator market
contributed a share of (USD million) to the
overall elevator market in 2017, while the rest
(USD million) was contributed by material
handling elevator market. US Escalators Market
Segmentation The escalators market in US has
been further segmented by sector and by
escalators moving walkways. On the basis of
sector, the escalators market can further be
segmented into different types of commercial
complexes (retail spaces, office complexes,
schools colleges, hospitals, hotels and public
infrastructure (airports, railways etc.)). The
market has also been segmented into stair
escalators which contributed (USD million)
and moving walkways which contributed the rest
(USD million) to the overall escalators market
in US in 2017.
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Competitive Scenario in US Elevators and
Escalators Market The elevators and escalators
market is highly concentrated and comprises of
all the global players of the industry. The
competition in the market is high as companies
follow globally accepted standards. The entry of
a new player is extremely difficult as the
investment capital is very high. Companies have
their own sales office and team in different
parts of the country. The major players in the US
elevator and escalator market are Kone, Otis,
FujiTec, Schindler, Mitsubishi and
ThyssenKrupp. 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 worlds 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.
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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.
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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 countrys 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.
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Key Topics Covered in the Report US Elevators
and Escalators Market US Elevators and
Escalators Market Outlook US Elevator Demand US
Elevator Maintenance Market US Escalators
Maintenance Market Competition US Elevators and
Escalators Industry Major Companies US Elevators
and Escalators Market Otis US Revenue from
Elevators and Escalators Kone US Revenue from
Elevators and Escalators Schindler US Revenue
from Elevators and Escalators Mitsubishi US
Revenue from Elevators and Escalators Fujitec US
Revenue from Elevators and Escalators ThyssenKrupp
US Revenue from Elevators and Escalators New
Equipment Installations in US Elevators
Market Hydraulic Elevators Demand in US
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