U.S. Elevator Manufacturing Industry Market Report 2025, With Coverage Of Schindler, Otis Worldwide, One And TK Elevator

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) -- The "Elevator manufacturing in the US - industry market Research Report" has been added to ResearchAndMarkets.com's offering.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Elevator Manufacturing industry is composed of companies that produce elevator cars, hoisting systems and escalators for commercial, residential and industrial buildings. Demand for this industry is largely based on trends in the Construction sector, as buildings with multiple floors typically need elevators to move people and equipment between floors quickly and safely. The COVID-19 pandemic resulted in a weakened construction sector, as work-from-home capabilities and growing economic uncertainty reduced demand for new construction projects.

More recently, elevated interest rates have constrained investment into construction, while manufacturing construction has benefitted from federal policies. A rate cut in 2024 provides a bright spot, however. Ultimately, revenue is set to have fallen at a five year CAGR of 0.9% to reach $4.2 billion through the end of 2024, including an expected 0.3% increase in 2024 alone.

Trends and Insights

• High interest rates have hampered construction activity . Elevated borrowing costs deter significant investments, impacting non-residential construction projects. The high expense of long-term loans discourages new, large-scale developments. Rate cuts have begun in 2024.
• A tepid Construction sector impacts elevator producers . Growing economic uncertainty and overall higher costs discourage new constructions, limiting demand for elevators.
• Basing operations near major construction companies benefits manufacturers . Geographical proximity enables elevator producers to maintain positive relationships with key buyers.
• Competition from foreign manufacturers is limited because of high transportation costs . Shipping elevators is a more expensive process, preventing imported elevators from taking over the market.

Market size and recent performance (2014-2029)

• Industry revenue has declined at a CAGR of 0.9 % over the past five years, to reach an estimated in 2024.

Company Coverage Includes:

• Schindler Group
• Otis Worldwide
• One Inc.
• TK Elevator

Key Topics Covered:
ABOUT THIS INDUSTRY

• Industry Definition
• Main Activities
• Similar Industries
• Additional Resources

INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE

• Executive Summary
• Key External Drivers
• Current Performance
• Industry Outlook
• Industry Life Cycle

PRODUCTS & MARKETS

• Supply Chain
• Products & Services
• Demand Determinants
• Major Markets
• International Trade
• Business Locations

COMPETITIVE LANDSCAPE

• Market Share Concentration
• Key Success Factors
• Cost Structure Benchmarks
• Basis of Competition
• Barriers to Entry
• Industry Globalization

MAJOR COMPANIES
OPERATING CONDITIONS

• Capital Intensity
• Technology & Systems
• Revenue Volatility
• Regulation & Policy
• Industry Assistance

KEY STATISTICS

• Industry Data
• Annual Change
• Key Ratios

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