Elevator Industry Fourth Covid-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 their fourth survey of elevator industry representatives on current industry status and future business outlook during the COVID-19 pandemic. The survey received nearly 400 responses, compared with 600 in the third iteration (ELENET 875), 572 in the second (ELENET 861) and 550 in the first. Credit Suisse Managing Director and Head of European Capital Goods Equity Research André Kukhnin assisted with preparation of a chart analysis, including breakdowns by country, of the results, including responses on the risk of rising raw materials costs to businesses in 2021.

Responses revealed that outlook improved to net positive and employment prospects remain healthy, while assessment of the competitive situation remains unchanged. Key findings include:

  • Shortage of material and/or equipment has become a more prominent limiting factor. 
  • The current situation assessment gradually improved into the positive territory by April 2021 compared with January, helped mainly by Europe outside of Germany. 
  • Outlook for the next six months improved further and is net positive globally. 
  • The competitive situation assessment remains cautious and has not changed versus January. 
  • Employment prospects remain unchanged and remain at a healthy positive net level. 
  • The risk of disruption by new IoT-enabled entrants in maintenance is seen as low overall. 

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