Elevator Industry Covıd-19 Survey Results Analysis

Elevator World, Inc., the German elevator association VFA Interlift e.V. and fair organizer AFAG, in association with Credit Suisse, recently shared results of a survey of elevator industry representatives on the current industry status and anticipated effects of the Covid-19 pandemic on business.

Credit Suisse Managing Director and Head of European Capital Goods Equity Research Andre Kukhnin assisted with preparation of a chart analysis, including breakdowns by country, of the results

(excluding China, as only three of the nearly 600 responses were from that country). Calculating results using a method akin to the widely followed, evenly balanced Purchasing Manager Index, observations include:

  • Overall assessment of the current economic situation leans toward “challenging,” with 34%answering “bad,” 26%, “good” and the remaining 40% “neutral.”
  • Industry associations are most negative in their outlook versus pre-pandemic time
  • Manufacturers and service providers are least negative in their outlook versus pre-pandemic times
  • Overall, the industry outlook is slightly cautious, with 29% expecting unfavorable development over the next six months, half expecting stability and 19%expecting favorable development. Respondents from Europe and North America were less negative.
  • In terms of business outlook, industry associations are most cautious in their pandemic-era outlook, followed by manufacturers/components suppliers and consultants/service providers.
  • The most-cited business-limiting factor is COVID-19-related restrictions, followed by economic uncertainty and lagging demand.
  • Those in Europe and North America plan to maintain current levels of employment over the next three months, but those in the Asia-Pacific region do not.
  • New equipment providers in Europe anticipate business to be up to 10% below pre-COVID-19 levels, while modernization providers, expect the firms to be only 3% below previous levels.

Since 1953, Elevator World, Inc. has been the premier publisher for the global vertical transportation industry. It employs specialists in Mobile, Alabama, and has technical and news correspondents around the world.

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