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US Elevator and Escalator Market to Exhibit CAGR of 4.24% between 2017 to 2021

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Published on : May 22, 2017

Albany, New York, May 22, 2017: The report provides an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

According to the report, the leading factor augmenting the growth rate of the U.S. elevator and escalator market at the moment, is the growing demand for the modernization and maintenance of elevators and escalators. The overall U.S. elevator and escalator market is expected to expand at a CAGR of 4.24% within a forecast period from 2017 to 2021. In order the calculate the overall size of the U.S. elevator and escalator market, the report takes into consideration multiple factors, including the revenue generation stream of players from the installation of new units, and the maintenance of the ones that already exist. The report also considers the revenue generation from the growing scope of modernization of the existing elevator and escalators in the U.S.

However, the U.S. elevator and escalator market is currently expected to be restrained by factors such as the reluctance of end users and clients to modernize their current elevator and escalator systems. This can change over time when clients consider the overall savings through increased energy efficiency despite incurring the additional costs of modernization. One of the key trends exhibited in the U.S. elevator and escalator market at the moment is the increasing adoption of energy efficient elevators and escalators.

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Escalators are moving stairs/walkways utilized to securely transport masses of individuals, loads, and gears from one point to another. They can be classified into inclined escalators and horizontal escalators. The inclined escalators are the most common form of escalators. The horizontal escalators are more frequently referred as either moving walkways. They are primarily used in transit applications where a massive traffic is to be transported. Elevators allow people to move and goods to be moved easily and efficiently within a building. They are installed in commercial buildings, residential buildings, mixed-use buildings, IT parks, hotels, restaurants, retail outlets, and parking areas to primarily optimize the use of space. 

The leading players in the U.S. elevator and escalator market, at the moment and as given in the report, include FUJITEC, KONE, Mitsubishi Electric US, OTIS ELEVATOR, Schindler, and Thyssen-Krupp Elevator. Other prominent vendors mentioned in the report include American Crescent Elevator, Bramalea Elevator, Cambridge Elevating, Delta Elevator, Excel Elevator & Escalator, Excel lifts, Federal Elevator, Garaventa Lift, GEDA USA Elevator and Material Lift Company, Gillespie, Hidral USA, Inclinator Company of America, Matot, Mowrey Elevator Company, Nationwide Lifts, PFlow Industries, Phoenix Modular Elevator, Pneumatic Vacuum Elevators, Premier Elevator, Savaria, Schumacher Elevator Company, Symmetry Elevating Solutions, Vertechs Elevator Ontario, and Waupaca Elevator Company.

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