TABLE OF CONTENTS
SECTION PAGE
INTRODUCTION viii
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Environment 5
Cyclical Trends 6
Long Term Trends 9
Construction Spending Outlook 12
Residential Building Construction 14
Nonresidential Building Construction 16
Office & Commercial Buildings 17
Other 18
Nonbuilding Construction 19
Improvements & Repair Spending Outlook 21
Retail Sales Trends 22
Fixed Investment Outlook 24
Demographic & Housing Trends 26
Population Size & Growth 27
Housing Starts 27
Building Stock Trends 28
Business Establishment Trends 31
Cost/Pricing Dynamics 33
Technological Trends 35
Regulatory & Safety Issues 36
International Environment 37
World Elevator & Escalator Markets 38
Foreign Trade & Multinational Investment 40
III. PRODUCTS & SERVICES 43
General 43
Elevator/Escalator Products 46
Passenger & Freight Elevators 48
Passenger 50
Freight 53
Other Elevating/Lifting Equipment 55
Aerial Work Platforms 56
All Other 58
Escalators & Moving Walkways 60
Associated Products 63
Controls & Electronics 65
Parts & Components 67
Elevator/Escalator Services 69
Installation 72
Repair/Modernization 73
IV. APPLICATIONS MARKETS 76
General 76
Nonresidential Buildings 79
Offices 81
Retail Establishments 83
Lodging & Other Commercial Buildings 85
Industrial Facilities 87
Transportation Facilities 89
Government/Institutional Facilities 91
Residential Buildings 93
Apartments & Condominiums 95
Other 96
Nonbuilding Settings 97
V. REGIONAL MARKETS 100
General 100
Regional Demand Determinants 102
Economic Trends 102
Demographic Trends 104
Construction Spending Trends 105
Elevator & Escalator Market by Region 107
Northeast 109
Midwest 111
South 112
West 114
VI. INDUSTRY STRUCTURE 117
General 117
Industry Composition & Market Share 118
Product Development & Manufacturing 124
Marketing & Distribution 127
Financial Issues & Requirements 128
Mergers, Acquisitions & Industry Restructuring 131
Company Profiles 134
Access Equipment LLC, see Intervect AB
Access Industries Incorporated, see ThyssenKrupp AG
Airdri Limited 138
Alimak AB, see Intervect AB
Bagby Elevator Company Incorporated 139
Bruno Independent Living Aids Incorporated 140
Bureau D Electronique Appliquee, see Halma plc
Delta Elevator Incorporated 141
Dover Corporation 142
Electronic Micro Systems Incorporated, see Halma plc
Formula Systems, see Airdri Limited
Fujitec Company Limited 144
GAL Manufacturing Corporation 148
Genie Holding Incorporated, see Terex Corporation
Gillespie Corporation 152
Grove Investors Incorporated, see Manitowoc Company
Incorporated
Halma plc 153
Haulotte US Incorporated, see Pinguely-Haulotte
HEK Manufacturing BV, see Intervect AB
Hollister-Whitney Elevator Corporation, see GAL
Manufacturing Corporation
Inclinator Company of America 156
Innovation Industries Incorporated 157
Intervect AB 159
Janus Elevator Products Incorporated, see Halma plc
JLG Industries Incorporated 161
Kone Oyj 164
Linamar Corporation 168
Manitowoc Company Incorporated 169
Marshall Elevator Company Incorporated 171
Monitor Controls Incorporated, see Halma plc
National Wheel-O-Vator Company Incorporated 172
Otis Elevator Company, see United Technologies
Corporation
Peelle Company 173
Pinguely-Haulotte 175
Schindler Holding Limited 176
Schumacher Elevator Company 180
Serge Elevator Company Incorporated, see Fujitec Company
Limited
Texas Hydraulics Incorporated, see Dover Corporation
Skyjack Incorporated, see Linamar Corporation
Terex Corporation 182
ThyssenKrupp AG 186
Toshiba Corporation 191
Tri-Tronics Company Incorporated 193
United Technologies Corporation 194
UpRight Incorporated 198
Waupaca Elevator Company Incorporated 199
LIST OF TABLES
TABLE NUMBER PAGE
SECTION I -- EXECUTIVE SUMMARY
1 Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Environment 9
2 Elevators & Escalators Market Trends 11
3 New Construction Expenditures 14
4 Residential Building Construction Expenditures 16
5 Nonresidential Building Construction Expenditures 17
6 Nonbuilding Construction Expenditures 21
7 Nonresidential Improvement & Repair Expenditures 22
8 Retail Sales Trends 24
9 Fixed Investment by Type 25
10 Population & Housing Trends 26
11 Building Stock 31
12 Business Establishments 32
13 World Elevator/Escalator Market 40
14 Trends in US Foreign Trade 42
SECTION III -- PRODUCTS & SERVICES
1 Elevator/Escalator Products & Services Market 45
2 Elevator & Escalator Products Supply & Demand 48
3 Passenger & Freight Elevators Supply & Demand 50
4 Passenger Elevators Demand by Type 53
5 Freight Elevators Demand by Type 54
6 Other Elevating/Lifting Equipment Supply & Demand 56
7 Aerial Work Platforms Demand by Type 58
8 All Other Elevating/Lifting Systems Demand by Type 60
9 Escalators & Moving Walkways Supply & Demand 63
10 Associated Products Supply & Demand 65
11 Elevator/Escalator Controls & Electronics Demand 67
12 Elevator & Escalator Parts & Components Demand 69
13 Elevator/Escalator Services Revenue 71
14 Elevator/Escalator Installations Revenue 73
15 Elevator/Escalator Repair/Modernization Revenue 75
SECTION IV -- APPLICATIONS MARKETS
1 Elevator/Escalator Products & Services Market by
Application/Setting 78
2 Nonresidential Buildings Elevators & Escalators Market 80
3 Offices Elevators & Escalators Market 83
4 Retail Establishments Elevators & Escalators Market 85
5 Lodging & Other Commercial Buildings Elevators & Escalators
Market 87
6 Industrial Facilities Elevators & Escalators Market 89
7 Transportation Facilities Elevators & Escalators Market 91
8 Government/Institutional Facilities Elevators & Escalators
Market 93
9 Residential Buildings Elevators & Escalators Market 95
10 Nonbuilding Elevators & Escalators Market 99
SECTION V -- REGIONAL MARKETS
1 Elevator/Escalator Regional Market Profile, 2002 101
2 Gross Domestic Product by Region 103
3 Resident Population by Region 105
4 Construction Expenditures by Region 107
5 Elevator/Escalator Products & Services Market by Region 108
6 Northeast Elevators & Escalators Market 110
7 Midwest Elevators & Escalators Market 112
8 South Elevators & Escalators Market 114
9 West Elevators & Escalators Market 116
SECTION VI -- INDUSTRY STRUCTURE
1 Capital Spending Patterns: Selected Elevator/Escalator
Companies 126
2 Composite Financial Ratios: Selected Elevator/Escalator
Companies, 2002 131
3 Selected Acquisitions & Divestitures 133
4 Revenue & Profits Data: Selected Elevator/Escalator
Companies, 2002 136
LIST OF CHARTS
CHART NUMBER PAGE
SECTION II -- MARKET ENVIRONMENT
1 Elevators & Escalators Market Volatility, 1993-2002 12
2 Elevators & Escalators Pricing Patterns 34
SECTION III -- PRODUCTS & SERVICES
1 Elevators & Escalators Demand by Product/Service, 2002 45
SECTION IV -- APPLICATIONS MARKETS
1 Elevators & Escalators Market by Application/Setting, 2002 78
2 Nonresidential Buildings Elevators & Escalators Market
by Setting, 2002 81
SECTION V -- REGIONAL MARKETS
1 Elevators & Escalators Market by Region, 2002 109
SECTION VI -- INDUSTRY STRUCTURE
1 Elevator/Escalator Products & Services Market Share
by Company, 2002 119
2 Passenger & Freight Elevators Market Share by Company,
2002 121
3 Aerial Work Platforms Market Share by Company, 2002 122
4 Elevator/Escalator Services Market Share by Company, 2002 124
