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

Companies in the Elevator Installation and Service industry generate a large portion of revenue from elevator installations in new multiunit residential and nonresidential structures, and from repair, maintenance and modernization work. As a result, the industry's performance is heavily dependent on investment in construction, new capital equipment and overall health of the economy. Over the past five years, the industry has grown as construction markets picked up early in the period. Repair and maintenance contracts provide an important cushion for many operators as all products require this service and it generally cannot be put off. Over the five years to 2022, the industry is expected to benefit from an increase in industrial activity, aided by a rebound in the manufacturing sector...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Industry revenue has grown alongside the recovery in key construction markets
  • The stabilization of downstream markets and growth in key construction markets raised industry revenue
  • As demand from construction markets rebounds, operators will gain customers
  • Industry Report - Industry Products Chapter

    Elevator installation, maintenance and repairThe industry generates 41.5% of its revenue from the installation, repair, and maintenance of elevators in buildings across the construction market spectrum. These services are spread primarily between the residential market (e.g. multifamily apartment buildings) and the commercial market (e.g. office buildings and retail spaces). The installation of elevators typically requires specialist equipment as well as a thorough inventory of parts from the specific elevator manufacturer. As a result, manufacturers such as Otis Elevators and Schindler Group are ideally suited for this segment...purchase to read more.

    Additional Insights for the Elevator Installation & Service Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Elevator Installation & Service Industry are

  • Upstream vertical integration (ownership links)
  • Access to secure revenue
  • Ability to compete on tender
  • IBISWorld analysts also discuss how external factors such as Private investment in manufacturing structures and Corporate profit in the Elevator Installation & Service industry impact industry performance..

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    What's in this report

    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 elevators, escalators and moving walkways; machine rigging; and millwrighting; and modernization and maintenance of products installed (which include: elevators, dumbwaiters, escalators, conveyor systems and automated revolving doors).

    Industry Products
  • Elevator installations
  • Elevator maintenance and repair services
  • Escalator installation, maintenance and repair services
  • Millwright contracting and machine rigging services
  • Other installation, maintenance and repair services
  • Industry Activities
  • Elevator installation and maintenance
  • Escalator installation and maintenance
  • Moving walkway installation
  • Millwrighting
  • Conveyor-system installation
  • Machine rigging
  • Automated and revolving-door installation
  • Dumbwaiter installation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Private investment in manufacturing structures
  • Corporate profit
  • Value of private nonresidential construction
  • Consumer spending
  • Price of steel

  • Current Performance
  • Going up
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Construction expansion
  • Steady growth
  • Table: Elevator Installation & Service Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Elevator Installation & Service Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Apartment & Condominium Construction
  • Industrial Building Construction
  • Forklift & Conveyor Manufacturing
  • Power Tools & Other General Purpose Machinery Manufacturing
  • Real Estate and Rental and Leasing
  • Property Management
  • Public Administration
  • Commercial Building Construction
  • Municipal Building Construction

  • Key Selling Industries
  • Construction
  • Construction & Mining Equipment Wholesaling
  • Printing, Paper, Food, Textile & Other Machinery Manufacturing
  • Professional, Scientific and Technical Services
  • Semiconductor Machinery Manufacturing

  • Products & Services
  • Other installation, maintenance and repair services
  • Elevator installations
  • Elevator maintenance and repair services
  • Millwright contracting and machine rigging services
  • Escalator installation, maintenance and repair services
  • Chart: Elevator Installation & Service Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Manufacturing and industrial buildings
  • Nonbuilding construction
  • Office buildings
  • Healthcare, public safety and educational buildings
  • Residential construction
  • Retail and storage spaces
  • Other
  • Chart: Major Market Segmentation for the Elevator Installation & Service Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Elevator Installation & Service

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Elevator Installation & Service Industry

  • Industry Globalization
    United Technologies Corporation, ThyssenKrupp AG, Kone Corporation,
  • Table: United Technologies Corporation - financial performance
  • Table: ThyssenKrupp AG - financial performance
  • Table: Kone Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Elevator Installation & Service Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Elevator Installation & Service Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Corporate Profit (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Building Automation
  • Typically involves the installation of a computerized control system (intelligent network) that monitors and controls the mechanical and lighting systems in a building.
  • Elevator
  • A vertical transport vehicle that moves people and/or goods between floors of a building.
  • Escalator
  • A moving staircase conveyor transport device designed for moving large numbers of people between floors. Widely used in shopping malls, on transit systems and in public buildings.
  • Millwright
  • A certified trade occupation involving the installation, replacement, dismantling and repair of machinery and heavy equipment.
  • Nonemployer
  • An establishment without payroll employees, typically a sole proprietorship or partnership.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Elevator Installation & Service contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Elevator Installation & Service:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Elevator Installation & Service market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Elevator Installation & Service, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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