An elevator, or lift, is a machine that vertically transports people or freight between levels, typically powered by electric motors that drive traction cables and counterweight systems, though some instead pump hydraulic fluid to raise a piston. The global elevator industry manufactures, installs and services these systems, supplying office towers, apartment buildings and other multi-story structures worldwide. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
Facts
SectorElevator manufacturing and service 1 FAQs
Why did the elevator industry only take off after the 1850s?
Early hoists carried a serious risk because a broken cable could send the platform crashing down. Elisha Otis devised a hoist with a safety catch that stopped the platform from falling if a cable broke, and he demonstrated it at the 1854 American Institute Fair in New York City's Crystal Palace. Sales were slow at first, but in 1857 his company installed what is described as the world's first passenger elevator in the E.V. Haughwout store in New York City.
Connections
Companies In Industry
Source Otis Worldwide - Wikipedia
In Sector
Additional Source Wikipedia: Global Industry Classification StandardGICS: Building Products
Sources
1. Wikipedia, Elevator
lead sectionQuote, lead section
An elevator (North American English, Philippine English) or lift (Commonwealth English except Canada) is a machine that vertically transports people or freight between levels.
Otis Worldwide - Wikipedia
Companies In Industry: Otis Worldwide Corporation, Lead section, operates-inQuote, Companies In Industry: Otis Worldwide Corporation, Lead section, operates-in
Otis Worldwide Corporation, doing business as its former legal name Otis Elevator Company and styled as OTIS, is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment.
Wikipedia: Global Industry Classification Standard
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