Elevator World, Inc., the German elevator association VFA Interlift e.V. and fair organizer AFAG, in association with Credit Suisse, surveyed the global elevator industry to better understand the overall current situation and status of businesses. It is also meant to broaden the elevator industry’s awareness of the current and near future global elevator industry market trends.
Result
- Current situation assessment is broadly stable at global level with a converging trend across geographies. Manufacturers’ assessment of the current situation turned more positive sequentially while Consultants, Service Providers and Component Suppliers signaled the opposite.
Result
- Despite still in the negative territory, outlook for the next six months rebounded from Q2 low levels, largely driven by Americas. Component Suppliers and Manufacturers reported a more positive outlook.
Result
- Materials and equipment shortages remain the top limiting factor, but its importance has come down substantially.
Result
- Service providers pointed to improving hiring prospects while all other segments saw a small decline.
Result
- Raw materials inflation risk has clearly subsided across regions; similar for supply chain – now seen as a significant risk by 37% of respondents vs. 45% in July and 60% in April.
Result
- The competitive situation intensified for all market participants to some extent, apart from Component Suppliers who pointed to an unchanged situation.
Find the full Global Elevator Industry Survey – October 2022 Edition here.
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