Dublin, Sept. 14, 2017 (GLOBE NEWSWIRE) -- The "Elevator and Escalator Market in the US 2017-2021" report has been added to Research and Markets' offering.

The elevator and escalator market in the USA to grow at a CAGR of 4.24% during the period 2017-2021.

Elevator and Escalator Market in the USA 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the revenue generated from various sources such as installing new units, maintenance of existing units, and modernization of existing units in the country during the forecast period.

One trend in market is rise of smart elevators. Smart elevators utilize different sensors to recognize the ongoing activity of various components in the lift. This data from the sensors are validated and sent to an application. The application then processes the data in real-time for various benefits. Major vendors such as KONE and Otis Elevator are partnering with technology giants that include Apple, IBM, and Microsoft to improve product offerings.

According to the report, one driver in market is stringent safety regulations. Though stricter norms could have reduced the damage or death, each year there are lethal mishaps that bring up the issue whether. After the two deadly mishaps in December 2011, two areas have come in for examination. One is licensing prerequisites for elevator professionals, and the other is the safety standards that apply to more established existing lifts. In both the cases, the maintenance office needs to follow local and state laws. The standard followed by most service providers is American Society of Mechanical Engineers (ASME) standard A17.1 and Safety Code for Elevators and Escalators. As the regulations get more stringent, the elevators must be modernized or replaced to meet the new requirements. For example, the recent revision ensured that any hydraulic elevator that has a portion of the cylinder covered in the ground and a cylinder without a safety bulkhead or dual cylinder should be replaced with a cylinder with polyvinyl chloride (PVC) linings for corrosion protection.

Further, the report states that one challenges in market is fragile US construction market. In 2015, housing and office construction spurred the construction boom. The fast pace of apartment building had saturated a few markets. Foreign investments sought higher returns and invested heavily in skyscraper apartment suites in Miami and hotels in New York, making some overcapacity. As an example, Pollack Shores Real Estate Group put on hold arrangements to construct a 315-unit apartment complex in the Atlanta region as a few new structures entered the market. The stoppage in construction works can also be found in construction payrolls. Balanced for occasional variances, the quantity of individuals working in the field dropped by 22,000 in March 2016. It was first run through the occupation check and had dropped for two straight months since 2012. However, the net payroll addition for the year remained positive.

Key vendors

• FUJITEC
• KONE
• Mitsubishi Electric US
• OTIS ELEVATOR
• Schindler
• Thyssenkrupp Elevator

Other prominent vendors

• American Crescent Elevator
• Bramalea Elevator
• Cambridge Elevating
• Delta Elevator
• Excel Elevator & Escalator
• Excel lifts
• Federal Elevator
• Garaventa Lift
• GEDA USA Elevator and Material Lift Company
• Gillespie
• Hidral USA
• Inclinator Company of America
• Matot
• Mowrey Elevator Company
• Nationwide Lifts
• PFlow Industries
• Phoenix Modular Elevator
• Pneumatic Vacuum Elevators
• Premier Elevator
• Savaria
• Schumacher Elevator Company
• Symmetry Elevating Solutions
• Vertechs Elevator Ontario
• Waupaca Elevator Company
  

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

• Market overview
• Top-vendor offerings

PART 03: Market research methodology

• Research methodology
• Economic indicators

PART 04: Introduction

• Key market highlights

PART 05: Market landscape

• Market overview
• Market size and forecast
• Five forces analysis

PART 06: Market segmentation by product

• Elevator and escalator market in US by product
• Elevator market in US
• Escalator market in US

PART 07: Market segmentation by service

• Elevator and escalator market in US by service
• Elevator and escalator market in US by new installations
• Elevator and escalator market in US by modernization

PART 08: Market drivers

• Changing demographics
• Demand for modernization and maintenance
• Increasing adoption of smart homes

PART 09: Impact of drivers

PART 10: Market challenges

PART 11: Impact of drivers and challenges

PART 12: Market trends

PART 13: Vendor landscape

• Competitive landscape
• Other prominent vendors

PART 14: Key vendor analysis

• Fujitec
• KONE
• Mitsubishi Electric Elevators US
• Otis
• Schindler
• thyssenkrupp Elevator
• Recent developments

PART 15: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/rx93xt/elevator_and

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         Related Topics: Elevators and Escalators 

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