United States (US) Elevator and Escalator Market (2020-2026) | Size, Share, Industry, Growth, Segmentation, Trends, Revenue, Outlook & COVID-19 IMPACT

Market Forecast By Types (Elevator, Escalator, Moving Walkways), By Services (Maintenance & Repair, New Installation, Modernization), By End-User (Residential, Commercial, Public), And Competitive Landscape

Product Code: ETC005661 Publication Date: Sep 2020 Updated Date: May 2023 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

US Elevator And Escalator Market | Country-Wise Share and Competition Analysis

In the year 2021, Canada was the largest exporter in terms of value, followed by China. It has registered a growth of 1.81% over the previous year. While China registered a growth of 28.51% as compared to the previous year. In the year 2017, Canada was the largest exporter followed by China. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, the USA has the Herfindahl index of 1969 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  2150 which signifies moderately concentrated in the market.

US Elevator And Escalator Market - Country Wise Share and Competition Analysis

US Elevator And Escalator Market - Export Market OpportunitiesUS Elevator And Escalator Market - Export Market Opportunities

Topics Covered in the United States (US) Elevator And Escalator Market

The United States (US) Elevator And Escalator Market report thoroughly covers the market by types, by services, and by end-user. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

The United States (US) Elevator And Escalator Market is projected to grow over the coming years. The United States (US) Elevator And Escalator Market report is a part of our periodical regional publication North America Elevator And Escalator Market Outlook report. 6W tracks the elevator and escalator market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Elevator And Escalator Market outlook report annually.

Latest (2023) Development of the United States (US) Elevator And Escalator Market

The United States (US) Elevator And Escalator Market is experiencing rapid growth, with the latest development. The market growth is attributed to technological advancements in elevator systems, an increase in construction activities across the country, and rising urbanization. The significant development driving this growth is the increasing demand for energy-efficient elevators as energy-efficient elevators help companies meet sustainability goals while also saving on energy costs.
The major focus towards improving passenger safety as numerous accidents are reported each year caused by malfunctioning, technology has come up with advanced safety features such as anti-skid flooring and sensors. Moreover, there have been significant investments towards modernizing existing infrastructure across various industries such as hospitality, healthcare facilities & hospitals. Thus, contributing to the overall growth of the United States (US) Elevator And Escalator Market.

United States (US) Elevator And Escalator Market Synopsis

United States (US) Elevator And Escalator Market is expected to generate substantial revenue during the upcoming years owing to the rising penetration towards the development of technology. The increasing disposable income and rising standard of living behold the US Elevator and Escalator Market Growth. Additionally, the increasing development in healthcare and tourism sectors backed by the rising establishment of hotels and restaurants are contributing to the US Elevator and Escalator Market Share.

According to 6Wresearch, the United States (US) Elevator And Escalator Market is anticipated to grow at a higher growth rate during 2020-2026. The rising number of high-rise buildings along with the increasing deployment of elevators and escalators is residential areas beholds the development of US elevator and escalator market. Moreover, the development of the manufacturing and commercial sector also adds to the US Elevator and Escalator Market Revenue. High initial costs, stringent safety regulations, and maintenance costs are still the restraining factor in the growth of the market. However, with smart elevators utilizing AI technology to cater to efficiency & safety - the future of the industry looks promising. Furthermore, the US Elevator and Escalator Market is projected to experience impressive growth due to increasing urbanization and high demand for energy-efficient elevators & escalators. Moreover, government initiatives in infrastructure development and construction activities further propels the United States Elevator And Escalator Market Growth.

COVID-19 Impact on the United States (US) Elevator And Escalator Market

Due to the outburst of the coronavirus pandemic, the market suffered a major setback owing to the worldwide restrictions. The economic slowdown due to the lockdown measures implemented by the government has led to suspended construction activities across various sectors leading to a decrease in demand for elevators and escalators. Furthermore, with many businesses being forced to close temporarily during this period, there was an overall decrease in commercial activity which further affected demand for these products.

Key players in the United States (US) Elevator And Escalator Market

The US elevator and escalator market is highly competitive with various key players who have established themselves as industry leaders. Some of them include;

  • Otis Elevator Company
  • Schindler Group
  • Thyssenkrupp AG from Germany
  • KONE Corporation from Finland

Market Analysis by Type

According to Parth, Research Manager, 6Wresearch, the elevator segment accounted for a significant share and is expected to lead the market during the forthcoming years on account of increasing deployment in residential areas.

Market Analysis by End-User

Based on end-user, the commercial segment is expected to dominate the United States (US) Elevator And Escalator Market share due to the increasing number of commercial buildings being constructed in the United States (US).

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2016 to 2019.
  • Base Year: 2019
  • Forecast Data until 2026.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • United States (US) Elevator and Escalator Market Outlook
  • Market Size of United States (US) Elevator and Escalator Market, 2019
  • Forecast of United States (US) Elevator and Escalator Market, 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Revenues & Volume for the Period 2016 - 2026
  • United States (US) Elevator and Escalator Market Trend Evolution
  • United States (US) Elevator and Escalator Market Drivers and Challenges
  • United States (US) Elevator and Escalator Price Trends
  • United States (US) Elevator and Escalator Porter's Five Forces
  • United States (US) Elevator and Escalator Industry Life Cycle
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Types for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Elevator for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Escalator for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Moving Walkways for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Services for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Maintenance & Repair for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By New Installation for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Modernization for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By End-User for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Residential for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Commercial for the Period 2016 - 2026
  • Historical Data and Forecast of United States (US) Elevator and Escalator Market Revenues & Volume By Public for the Period 2016 - 2026
  • United States (US) Elevator and Escalator Import Export Trade Statistics
  • Market Opportunity Assessment By Types
  • Market Opportunity Assessment By Services
  • Market Opportunity Assessment By End-User
  • United States (US) Elevator and Escalator Top Companies Market Share
  • United States (US) Elevator and Escalator Competitive Benchmarking By Technical and Operational Parameters
  • United States (US) Elevator and Escalator Company Profiles
  • United States (US) Elevator and Escalator Key Strategic Recommendations

Market Segmentation

The report provides a detailed analysis of the following market segments:

By Types

  • Elevator
  • Escalator
  • Moving Walkways

By Services

  • Maintenance & Repair
  • New Installation
  • Modernization

By End-User

  • Residential
  • Commercial
  • Public
United States (US) Elevator and Escalator Market: FAQs
Increasing urbanization, aging infrastructure, and demand for smart and connected buildings are the major drivers contributing to the growth of the market.
The integration of IoT and AI technologies, the development of energy-efficient elevators and escalators, and the growing trend towards the customization of elevators and escalators to meet the specific needs of customers are the key trends in the market.
The high cost of installation, a shortage of skilled labor, and a lack of standardization in the industry are the key challenges faced by the market.
The increasing adoption of smart technologies, the development of innovative solutions, the expansion of the market into emerging sectors, and the growing demand for high-rise buildings are the factors expected to drive demand for elevators and escalators in the upcoming years.
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1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 United States (US) Elevator and Escalator Market Overview
3.1 United States (US) Elevator and Escalator Market Revenues & Volume, 2016 - 2026F
3.2 United States (US) Elevator and Escalator Market - Industry Life Cycle
3.3 United States (US) Elevator and Escalator Market - Porter's Five Forces
3.4 United States (US) Elevator and Escalator Market Revenues & Volume Share, By Types, 2019 & 2026F
3.5 United States (US) Elevator and Escalator Market Revenues & Volume Share, By Services, 2019 & 2026F
3.6 United States (US) Elevator and Escalator Market Revenues & Volume Share, By End-User, 2019 & 2026F
4 United States (US) Elevator and Escalator Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 United States (US) Elevator and Escalator Market Trends
6 United States (US) Elevator and Escalator Market Segmentation
6.1 United States (US) Elevator and Escalator Market, By Types
6.1.1 Overview and Analysis
6.1.2 United States (US) Elevator and Escalator Market Revenues & Volume, By Types, 2016 - 2026F
6.1.3 United States (US) Elevator and Escalator Market Revenues & Volume, By Elevator, 2016 - 2026F
6.1.4 United States (US) Elevator and Escalator Market Revenues & Volume, By Escalator, 2016 - 2026F
6.1.5 United States (US) Elevator and Escalator Market Revenues & Volume, By Moving Walkways, 2016 - 2026F
6.2 United States (US) Elevator and Escalator Market, By Services
6.2.1 Overview and Analysis
6.2.2 United States (US) Elevator and Escalator Market Revenues & Volume, By Maintenance & Repair, 2016 - 2026F
6.2.3 United States (US) Elevator and Escalator Market Revenues & Volume, By New Installation, 2016 - 2026F
6.2.4 United States (US) Elevator and Escalator Market Revenues & Volume, By Modernization, 2016 - 2026F
6.3 United States (US) Elevator and Escalator Market, By End-User
6.3.1 Overview and Analysis
6.3.2 United States (US) Elevator and Escalator Market Revenues & Volume, By Residential, 2016 - 2026F
6.3.3 United States (US) Elevator and Escalator Market Revenues & Volume, By Commercial, 2016 - 2026F
6.3.4 United States (US) Elevator and Escalator Market Revenues & Volume, By Public, 2016 - 2026F
7 United States (US) Elevator and Escalator Market Import-Export Trade Statistics
7.1 United States (US) Elevator and Escalator Market Export to Major Countries
7.2 United States (US) Elevator and Escalator Market Imports from Major Countries
8 United States (US) Elevator and Escalator Market Key Performance Indicators
9 United States (US) Elevator and Escalator Market - Opportunity Assessment
9.1 United States (US) Elevator and Escalator Market Opportunity Assessment, By Types, 2019 & 2026F
9.2 United States (US) Elevator and Escalator Market Opportunity Assessment, By Services, 2019 & 2026F
9.3 United States (US) Elevator and Escalator Market Opportunity Assessment, By End-User, 2019 & 2026F
10 United States (US) Elevator and Escalator Market - Competitive Landscape
10.1 United States (US) Elevator and Escalator Market Revenue Share, By Companies, 2019
10.2 United States (US) Elevator and Escalator Market Competitive Benchmarking, By Operating and Technical Parameters
11 Company Profiles
12 Recommendations
13 Disclaimer
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