Skip to content
Back to the daily read

Daily Read: Business

Otis Elevator's Service Business: A Stable Earnings Stream

Otis Elevator, the largest elevator company in the world, generates over 90% of its profits from its service business. The company services over 2.5 million elevators per year, with a focus on maintenance and modernization. Despite facing challenges in recent years, Otis is confident in its ability to continue growing and has identified opportunities in the housing development market.

· Watch on CNBC

The essential points

  1. 01Otis Elevator services over 2.5 million elevators per year, with a focus on maintenance and modernization.
  2. 02The company generates over 90% of its profits from its service business.
  3. 03Otis has identified opportunities in the housing development market, particularly in multifamily buildings.
  4. 04The company is transforming its operations to improve its market share and price-cost equilibrium.
The full brief

Otis Elevator, the largest elevator company in the world, generates over 90% of its profits from its service business. The company services over 2.

5 million elevators per year, with a focus on maintenance and modernization. Despite facing challenges in recent years, Otis is confident in its ability to continue growing and has identified opportunities in the housing development market.