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U.S. Elevator Modernization and Maintenance Market Trends and Outlook 2018

The United States elevator and modernization and maintenance market is estimated to grow at CAGR of more than 4% during 2018 to 2023. In 2017, the market generated revenues worth $1,347.8 million. A rise in investments in the construction industry, increase in technological advancements and safety regulations are projected to drive the elevator modernization market in the United States. Commercial sector garnered highest market share of over 44% in 2017 while the residential sector generated 27% of the total revenues in the United States elevator and modernization and maintenance market. The full modernization elevator equipment generated $1191 million dollars in 2017 and is anticipated to further grow at a CAGR of 4.22% during the forecast period 2017-2023.

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U.S. Elevator Modernization and Maintenance Market Trends and Outlook 2018

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  1. U.S. Elevators Modernization & MaintenanceMarketTrends and Outlook 2018

  2. Controllers held the largest share in the U.S. Elevators Modernization & Maintenance Market Controller Equipment held the largest share of over 33% in the U.S. Elevators Modernization Market, followed by door equipment and power units with 19% and 18% respectively. This dominance is mainly due to the smooth and flawless maintenance of elevators by changing them on a frequent basis,, advanced technology to avoid breakdowns and disruptions have resulted in the growing market. There are many key players operating in the U.S. elevator modernization market. By introducing new power saving elevator equipment with advanced technology, could boost their revenues and market growth over the forecast period. The key end-user industries include Commercial, Residential, Industrial, Marine, and others. Contact : sales@industryarc.com

  3. Selected / Sample Analysis done in the full Report: • Big players in the elevator industry are launching new solutions for modernization and acquiring smaller companies such as component manufacturers and service providers to expand their market and to develop innovative technology. These companies have acquired many companies and partnerships to expand their market and for developing new technologies and to survive in major markets. Key acquisitions and partnerships include takeover of Capita Elevator services, KlostermannAufzuge GmbH, Eagle Elevator Corporation and other companies by Kone, Chinese elevator and escalator by Schindler, Joint venture agreement by Mitsubishi Electric Corporation with Ascon holdings LLC to strengthen themselves in maintenance and modernization services and end user segments such as hospitals, universities and others. • The elevator modernization market is highly segmented with small companies and established companies fighting to gain market position. U.S. elevator modernization market is expanding in residential buildings and commercial buildings. Contact : sales@industryarc.com

  4. Excerpts on Market Growth Factors • By introducing new power saving elevator equipment with advanced technology could boost their revenues and market growth over the forecast period. • Increasing need of vertical transportation, growing aged population and awareness towards the advanced technology and safety standards is set to propel the market at a significant growth rate. • The growing number of older people is creating a demand for elevators, both for new installations as well as modernization markets for easy transportation. • The rising urbanization will also play a major role in the growth of the Elevator Modernization market. • Urbanization is one of the key growth drivers for elevators industry. Contact : sales@industryarc.com

  5. Key Players of the U.S. Elevators Modernization & Maintenance Market: ThyssenKrupp AG Otis elevator Pine state KONE Corporation Mitsubishi electric FUJITEC dovercorporation amtec Anlev Download Sample Report Contact : sales@industryarc.com

  6. You Can Customize the Report as Per Your Need. We have included Some Customization Options Company Profile Analyst Briefing Data Tables Key Contacts Contact : sales@industryarc.com

  7. About IndustryARC IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business. Contact : sales@industryarc.com

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