US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Elevator Concerns in the Era of Coronavirus

A large portion of the population is concerned about riding in elevators in the age of coronavirus. Building owners worry that if employees and others are afraid to ride elevators (to get to work or their homes), they will see occupants break their leases and a  subsequent spike in building vacancies.

To provide a safer elevator environment, the Center for Disease Control recommends a few basic steps be taken in multifamily facilities, and these measures also apply for commercial buildings:

  • cleaning and disinfecting shared areas such as elevators using EPA-registered disinfectants more than once a day, if possible
  • minimizing traffic in enclosed spaces such as elevators
  • providing alcohol-based sanitizers in common areas, including outside elevators

In general, however, elevators are well-ventilated spaces with fans that run to keep the air refreshed. Additionally, most people are only in elevators for a few moments. Thus the duration of any potential exposure is short, well below the 15 minutes that is generally considered the threshold for exposure could lead to enough viral load to spread COVID-19.

According to The Freedonia Group’s National Online Consumer Survey conducted in May 2020, 79% of adults agreed that the coronavirus is a health threat to them personally, and 86% agreed that it is a health threat to their family and friends. These people will look to building owners to help instill more confidence that large buildings are safe to navigate.

Additional steps to mitigate public worry that are recommended by elevator companies and being undertaken by some building owners include:

  • requiring masks be worn in common areas such as elevators
  • limiting elevator occupancy to a level that allows for appropriate social distancing
  • recommending businesses and other occupants stagger their arrival times
  • installing signage that suggests occupants refrain from talking while riding elevators and face away from other riders

For more information, see the following data-rich market analysis reports from The Freedonia Group’s off-the-shelf research catalog, including Global Elevators, Global Filters, Global Housing, Consumer Air Treatment, and HVAC Equipment, as well as Focus Reports including Commercial Banking: United States and Professional Services: United States. Freedonia also offers an expanding catalog of COVID-19 Economic Impact reports, which highlight how various industries are responding to the current crisis with a comparison to recent recessions. Freedonia Custom Research is also available for questions requiring tailored market intelligence