Industry Analysis & Industry Trends
The performance of the Elevator Installation and Service industry is heavily dependent on investment in nonresidential construction and new capital equipment. Since economic activity began picking up following the recession, industry operators have experienced steadily increasing demand for elevator installation projects, a rebound from the sharp contractions that occurred between 2009 and 2010. Repair and maintenance services provided a cushion to industry operators during these years, but are expected to decline as a share of revenue as new installations increase. Industry revenue is anticipated to grow alongside downstream demand in key construction markets over the next five years... 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 and Service industry. With 69.7% of all companies operating with less than ten employees according to the US Census Bureau, this industry is characterized by a 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