Otis Elevator Company Market Research Report

Company Overview

Name, Mission of the Company

Name: Otis Elevator Company

Mission: To be a world-class, customer-centric, service-oriented company.

When was the Company Founded and by Whom

Founded: 1853

Founder: Elisha Graves Otis

Key People in the Company

Judy Marks: Chair, Chief Executive Officer, and President

Stéphane de Montlivault: President, Otis Asia Pacific

Tracy Embree: President, Otis Americas

Robin Fiala: Senior Vice President, Sales & Marketing

Neil Green: Executive Vice President & Chief Digital Officer

Nora LaFreniere: Executive Vice President & General Counsel

Rina Leonard: Senior Vice President & Global Chief Information Officer

Sally Loh: President, Otis China

Abbe Luersman: Executive Vice President & Chief People Officer

Cristina Méndez: Executive Vice President & Chief Financial Officer

Enrique Miñarro Viseras: President, Otis EMEA

Michael Ryan: Senior Vice President & Chief Accounting Officer

Randi Tanguay: Senior Vice President & Chief Communications Officer

Haran Vela: Executive Vice President, Engineering

Perry Zheng: Executive Vice President, Chief Product, Delivery and Customer Officer

Headquarters

Location: 1 Carrier Place, Farmington, CT 06032, USA

Number of Employees

Total Employees: 71,000 (including 42,000 field professionals)

Revenue of the Company

Net Sales: $14.2 billion

What is the Company Known for

Otis is known for being the world’s leading company in elevator and escalator manufacturing, installation, and service. The company moves 2.3 billion people per day and maintains approximately 2.3 million customer units worldwide, the largest portfolio in the industry.

Products

What Products Do They Offer

Low-Rise Elevators

Mid-Rise Elevators

High-Rise Elevators

Escalators & Moving Walks

Otis Signature Service™

Modernization

High-Level Description of the Product

Otis offers a range of elevators and escalators tailored to different building heights and uses. Their product line includes solutions for low-rise, mid-rise, and high-rise buildings, each designed to enhance passenger experience, safety, and efficiency. Otis Signature Service™ and Modernization services provide maintenance, repair, and upgrade solutions to keep equipment running smoothly.

Key Features of Each of the Products

Low-Rise Elevators: Focus on efficiency, reliability, and ease of use for shorter, less complex buildings.

Mid-Rise Elevators: Designed to handle moderate traffic with a balance of speed and reliability.

High-Rise Elevators: Advanced technology for high-speed, high-traffic settings, incorporating design efficiency and optimized performance.

Escalators & Moving Walks: Safe, efficient solutions for moving large numbers of passengers smoothly in commercial spaces and transit hubs.

Otis Signature Service™: Comprehensive maintenance and repair services, leveraging certified OEM parts, specialized mechanic expertise, regular software updates, and connected technologies.

Modernization: Upgrades existing elevator systems with new features and aesthetics to improve safety, reliability, and performance.

Recent Developments

What are the Recent Developments in the Company

August 28, 2024 - Otis India to Expand Bengaluru Manufacturing Capabilities

Otis India has expanded its manufacturing facility in Bengaluru to meet the growing demand for elevators and escalators in residential, commercial, and infrastructure markets in India.

August 26, 2024 - Women on the Rise: Otis Colleagues Recognized by Paradigm for Parity®

Florence Caperaa and Joanne Tetsill were named 2024 Women on the Rise award recipients by Paradigm for Parity for their efforts in inspiring and supporting gender parity.

August 20, 2024 - Otis Recognized by Seramount as Leading Inclusion Company

Otis was recognized by Seramount as a leading inclusion company for creating and promoting an inclusive work culture in the U.S., advancing its ranking in the Seramount Inclusion Index.

What are the New Products Launched

No information is available

What are the New Features Added to the Existing Products

Otis Smart Cab Elevator: Incorporates advanced technology, speed, comfort, and safety to enhance elevator rides with personalization and sensory experiences.