Elevator Maintenance Service Market

Different types of elevator service contracts?
Survey and Report Contract. This contract covers quarterly, semiannual, or annual examination of all major components of an elevator. However, it does not include repair work, maintenance, or dismantling equipment that require elevator mechanics. Replacement or maintenance recommendations may be completed by the building owner or by the hired contractor in coordination with the property manager. However, as most of the owners demand at least basic elevator servicing, this type of maintenance contract is not suitable for them. Also, this type of contract makes it very difficult for the owner to avoid liability in case an accident occurs.
Oil & Grease or Examination and Lubrication Contract. Oil & Grease contracts mainly include lubrication of the moving parts of an elevator and minor adjustments on scheduled basis. In case any additional services are needed, the elevator service company reports the issue to the client along with an estimated cost. Once it is approved by the building owner, they schedule all the repairs and start their work. In this agreement, it is near to impossible for the owner to avoid liability in the event of accidents, injuries, or shut downs as he himself is responsible for approving the repair and replacement of parts. Due to this reason customer satisfaction is very low with this type of contract.
Full Maintenance Agreement (FMA). A full maintenance agreement allow the elevator service company to take care of all the elevator equipment mentioned in the maintenance agreement. FMA is like an insurance policy and allows the building owner to pay a yearly cost and free himself from the concerns relating to elevator maintenance. In this contract, the service company takes the responsibility of any accident that may occur, so the owner doesn?t have to bear any liability.
Elevator Maintenance Service Market contains market size and forecasts of Elevator Maintenance Service in Global, including the following market information:
Global Elevator Maintenance Service Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Elevator Maintenance Service market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Full Service Contract Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Elevator Maintenance Service include Otis, KONE, Hitachi, Fujitec, Bagby Elevator Company, Syney Electric, Schindler Elevator Corporation, D&D Elevator and EMR Elevator, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
surveyed the Elevator Maintenance Service companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Elevator Maintenance Service Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Elevator Maintenance Service Market Segment Percentages, by Type, 2021 (%)
Full Service Contract
Partial Service Contract
Oil and Grease Contract
Global Elevator Maintenance Service Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Elevator Maintenance Service Market Segment Percentages, by Application, 2021 (%)
Commercial
Residential
Others
Global Elevator Maintenance Service Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Elevator Maintenance Service Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Elevator Maintenance Service revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Elevator Maintenance Service revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Otis
KONE
Hitachi
Fujitec
Bagby Elevator Company
Syney Electric
Schindler Elevator Corporation
D&D Elevator
EMR Elevator
Orona
Eastern Elevators Group
Mid-American Elevator
HISA
Century Elevator (BrandSafway)
Asheville Elevator
Brandywine Elevator Company
Veterans Development
Warren Elevator
Pickerings Lifts
Potomac Elevator Company