Otis Has Identified an Incremental $25 Million in Annual Cost Base Savings Under Its Uplift Program
Otis Worldwide is the largest elevator and escalator original equipment manufacturer globally with integrated operations that span manufacturing and installation activities, as well as elevator and escalator servicing for existing installations. Additionally, Otis performs elevator modernization services for elevator systems at the end of a typical 15- to 20-year useful life. Otis estimates the global E&E market was worth about $80 billion in 2021 with Otis commanding an approximate 18% global market share, based on revenue.