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Otis Reports Strong Q2 2024 Results with 6% Organic Sales Growth
Otis Worldwide posted Q2 revenue of $3.6B, up 6% organically, driven by strong service portfolio growth and modernization demand.
Read full articleSchindler Wins Major Contract for NYC Subway Modernization Project
Schindler Group secured a $150M contract to modernize 200 escalators across New York City subway stations over the next 5 years.
Read full articleKONE Launches AI-Powered Predictive Maintenance Platform
KONE unveiled its new AI-driven maintenance system that predicts elevator failures 3 days in advance, reducing downtime by 50%.
Read full articleTK Elevator Completes €1.2B Acquisition of Schmitt + Sohn
TK Elevator finalized its acquisition of German elevator manufacturer Schmitt + Sohn, expanding its European service portfolio.
Read full articleChina's Elevator Market Projected to Reach $45B by 2025
New report shows China's elevator industry growing at 8% CAGR, driven by urbanization and aging infrastructure replacement needs.
Read full articleMitsubishi Electric Recalls 5,000 Elevators Over Safety Concerns
Mitsubishi Electric issued a recall for elevator control systems in North America due to potential brake failure risks.
Read full articleDubai Awards $500M Contract for World's Tallest Building Elevators
Otis and KONE consortium wins contract to install 150 elevators in Dubai's new 1km-tall tower, featuring record-breaking speeds.
Read full articleEU Mandates IoT Connectivity for All New Elevators by 2026
European Union passes regulation requiring all new elevators to have IoT capabilities for remote monitoring and emergency response.
Read full articleOtis Reports Strong Q2 2024 Results with 6% Organic Sales Growth
Otis Worldwide posted Q2 revenue of $3.6B, up 6% organically, driven by strong service portfolio growth and modernization demand.
Read full articleSchindler Wins Major Contract for NYC Subway Modernization Project
Schindler Group secured a $150M contract to modernize 200 escalators across New York City subway stations over the next 5 years.
Read full articleKONE Launches AI-Powered Predictive Maintenance Platform
KONE unveiled its new AI-driven maintenance system that predicts elevator failures 3 days in advance, reducing downtime by 50%.
Read full articleTK Elevator Completes €1.2B Acquisition of Schmitt + Sohn
TK Elevator finalized its acquisition of German elevator manufacturer Schmitt + Sohn, expanding its European service portfolio.
Read full articleChina's Elevator Market Projected to Reach $45B by 2025
New report shows China's elevator industry growing at 8% CAGR, driven by urbanization and aging infrastructure replacement needs.
Read full articleMitsubishi Electric Recalls 5,000 Elevators Over Safety Concerns
Mitsubishi Electric issued a recall for elevator control systems in North America due to potential brake failure risks.
Read full articleDubai Awards $500M Contract for World's Tallest Building Elevators
Otis and KONE consortium wins contract to install 150 elevators in Dubai's new 1km-tall tower, featuring record-breaking speeds.
Read full articleEU Mandates IoT Connectivity for All New Elevators by 2026
European Union passes regulation requiring all new elevators to have IoT capabilities for remote monitoring and emergency response.
Read full articleStay ahead of Elevator & Escalator Industry in 3 minutes a day.
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