Controllers held the largest share in the U.S. Elevators Modernization & Maintenance Market Controller Equipment held the largest share of over 33% in the U.S. Elevators Modernization Market, followed by door equipment and power units with 19% and 18% respectively. This dominance is mainly due to the smooth and flawless maintenance of elevators by changing them on a frequent basis,, advanced technology to avoid breakdowns and disruptions have resulted in the growing market. There are many key players operating in the U.S. elevator modernization market. By introducing new power saving elevator equipment with advanced technology, could boost their revenues and market growth over the forecast period. The key end-user industries include Commercial, Residential, Industrial, Marine, and others.
Selected / Sample Analysis done in the full Report: •Big players in the elevator industry are launching new solutions for modernization and acquiring smaller companies such as component manufacturers and service providers to expand their market and to develop innovative technology. These companies have acquired many companies and partnerships to expand their market and for developing new technologies and to survive in major markets. Key acquisitions and partnerships include takeover of Capita Elevator services, Klostermann Aufzuge GmbH, Eagle Elevator Corporation and other companies by Kone, Chinese elevator and escalator by Schindler, Joint venture agreement by Mitsubishi Electric Corporation with Ascon holdings LLC to strengthen themselves in maintenance and modernization services and end user segments such as hospitals, universities and others.
•The elevator modernization market is highly segmented with small companies and established companies fighting to gain market position. U.S. elevator modernization market is expanding in residential buildings and commercial buildings. Contact : [email protected]
Excerpts on Market Growth Factors •By introducing new power saving elevator equipment with advanced technology could boost their revenues and market growth over the forecast period. •Increasing need of vertical transportation, growing aged population and awareness towards the advanced technology and safety standards is set to propel the market at a significant growth rate. •The growing number of older people is creating a demand for elevators, both for new installations as well as modernization markets for easy transportation. •The rising urbanization will also play a major role in the growth of the Elevator Modernization market. •Urbanization is one of the key growth drivers for elevators industry.
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