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Elevator Installation & Service in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Elevator Installation & Service Market Research Report | NAICS 23829 | Oct 2014

Going up: Recovering construction markets will spur rebound in industry revenue

IBISWorld’s Elevator Installation & Service market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$18bn
Annual Growth 09-14
3.0%
Annual Growth 14-19
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Profit
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Employment
96,322
Businesses
15,562
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

 


Industry ProductsRelated ReportsTable of Contents

What is the Elevator Installation & Service Industry?

This industry comprises establishments primarily engaged in one or more of the following activities: the installation or dismantling of building or industrial equipment (except plumbing, air conditioning or electrical equipment); machine rigging; and millwrighting. Types of equipment installed include automated and revolving doors, conveyor systems, dumbwaiters, dust-collecting equipment, elevators, small incinerators, pneumatic tube systems and built-in vacuum-cleaning systems.

Industry Products
Elevator installation, maintenance and repair servicesEscalator installation, maintenance and repair servicesMillwright contracting and machine rigging servicesOther installation, maintenance and repair services
 
Industry Activities
Elevator installation and maintenanceEscalator installation and maintenanceMoving walkway installationMillwrightingConveyor-system installationMachine riggingAutomated and revolving-door installationIncinerator installation (small scale)Dumbwaiter installationBuilt-in vacuum-cleaning system installation


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