Industry Analysis & Industry Trends
Over the five years to 2012, the industry shrunk alongside investment in the commercial building markets, brought on by the recession. The decline in demand for industry services intensified internal competition and put pressure on profit margins. Demand is forecast to improve in the next five years, however, as the economy continues its gradual recovery and the non-residential building market picks up, fueling the need for installation and maintenance of automation systems and industrial machinery... purchase to read more
Industry Report - Starting a New Business Chapter
There are few entry barriers for qualified prospective participants seeking to enter the Elevator Installation & Service industry. With 64% of all firms operating with less than ten employees according to the US Census Bureau, this industry is characterized by low market concentration. However, the barriers to entry are considered to be medium due to short term factors favoring incumbent contractors. Specifically, new entrants without a proven track record will find it difficult to establish a viable foothold in this market over the short term as they lack a proven track record.
The key factors favoring ease of entry into the industry include: the low capital costs of a establishing a start-up; and the high attrition rate among existing contractors... purchase to read more