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The Elevator Installation & Service in the US Industry Market Research Report from IBISWorld Has Been Updated
  • USA - English


News provided by

IBISWorld

Sep 30, 2013, 07:00 ET

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Demand has deteriorated due to investment declines in the commercial building market.

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Los Angeles, CA (PRWEB) September 30, 2013 -- The performance of the Elevator Installation and Service industry is heavily dependent on investment trends in the non-residential building market and on new capital equipment. Activity is evenly spread between millwright contracting (particularly work on materials-handling equipment) and elevator servicing. Within the elevator-servicing segment, firms generate a large portion of revenue from elevator installations in new residential and nonresidential structures, as well as from repair, maintenance and modernization work. “As the general level of economic activity slowed during the recession, operators in the construction and industrial markets canceled or postponed elevator installation projects,” according to IBISWorld Industry Analyst Omar Khedr. However, repair and maintenance contracts continued on track and provided an important cushion for many operators until downstream markets recovered. Due to a strong rebound in key construction markets beginning in 2010, demand for industry contractors grew in the five years to 2013. Although revenue dropped by 4.0% at the height of the recession in 2009, it has consistently grown since then. Over the five-year period, revenue is expected to increase at an average annual rate of 0.8% to $26.2 billion in 2013, surpassing 2008 revenue by $1.0 billion.

Construction markets are expected to perform well in 2013, with the value of construction expected to increase by 7.2% over the year. In turn, industry revenue is anticipated to reflect downstream demand growth with an expected increase of 2.0% in 2013. In addition to new construction, the industry is also expected to benefit from an increase in industrial activity, particularly around the Great Lakes region, aided by a recovering automobile sector.

“The industry contains many small-scale contractors who operate in either geographic or specialized markets,” says Khedr. The fragmented structure of this industry is evident in the annual survey of County Business Patterns published by the US Census Bureau.

Geographically, there is a higher concentration of contractors in regions with a higher density of urban settlement (residential apartments). In addition, regions that have a greater concentration of manufacturing activity (e.g. the Great Lakes and Mid-Atlantic regions) also have a high concentration of industry participants.

A handful of larger companies have invested in acquisitions campaigns, taking over several regional contractors operating across many markets. For example, Swiss-based Schindler Elevator Corporation has acquired smaller companies in Texas, Arizona, New York, New Jersey, Connecticut, Florida, Massachusetts, New Hampshire, Rhode Island and Vermont over the past five years. While this will expand the market share for individual industry players, the overall industry is still expected to be fragmented.

For more information, visit IBISWorld’s Elevator Installation & Service in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

The Elevator Installation & Service 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 millwriting. Types of equipment installed include automated and revolving doors, conveyor systems, dumbwaiters, dust-collecting equipment, elevators, small incinerators, pneumatic tubes systems and built-in vacuum-cleaning systems.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]

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