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Economic Impact

 

  • The first commercial escalator was made at the Otis factory in New York.

 

  • Charles Seeberger, the redesigner  of the escalator, sold his patent rights to the Otis Elevator Company in 1910.

       Otis Worldwide

 

  • Otis is the world’s leading elevator company, with more than 60,000 employees serving customers in nearly every country on earth.

 

  • Approximately 2.5 million Otis elevators and escalators in operation worldwide

 

  • Revenue of US $12.5 billion in 2013

 

  • Controls 22% of the world escalator and elevator market

 

 

 

 

 

 

 

 

 

       Escalators and their monetary benefits

 

  • Buildings and shopping malls with more efficient escalators tend to appeal more to office workers and shoppers. Building owners stand to gain from increased customer traffic which in turn translates to higher profits. (Eg. malls with trolley friendly escalators to facilitate grocery shopping).

 

  • Emergence of inovative escalator designs in recent years has enabled building owners to use them to increase the asthetic appeal of their buildings. This enhances the overall image of the mall and enables them to attract worldwide renowned brands to set up stores in their buildings.

 

  • Escalator passengers represent a captive audience, one that pretty much has to stare at a strategically placed ad for the duration of the ride. Escalator advertising has the added advantage of many passengers who are already in a money-spending mood. The consumer is in a relaxed state of stimulation while on an escalator.

 

        Schindler Group

 

  • Founded in 1874 in Lucerne, Switzerland, by precision engineer Robert Schindler

 

  • Manufactures, installs, services and modernises elevators, escalators and moving walkways

 

  • Employs more than 50000 employees in more than 100 countries

 

  • In 2011, 2012 and 2013, Schindler was named one of Forbes Magazine’s 100 Most Innovative Companies

 

 

  

        KONE Corporation

 

  • Founded in 1910 and headquartered in Espoo, Finland.

 

  • Manufactures the industry leading escalators and provides innovative solutions for modernization and maintenance.

 

  • Operate more than 1,000 offices in about 50 countries around the world.

 

  • In 2013, KONE had annual net sales of EUR 6.9 billion and at the end of the year employed over 43,000 staff.

 

 

       ThyssenKrupp AG (Elevator Technology            Business Area)

 

  • Officially registered as a company on March 17, 1999

 

  • Range of products include escalators, moving walks and passenger boarding bridges

 

  • Employs 50000 employees at over 900 locations around the world

 

  • Year-on-year order intake increased by around 6% to over €6.5 billion in 2012/2013

2013 Revenue of the 4 Biggest Companies in the Elevator Market

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