Temporary rack-and-pinion elevators that move trades up and down are getting high on the list of the most sought-after equipment in an era of booming vertical construction. Plus, an aging workforce needing faster access is pushing costs of replacement and repair to new heights. Prices for permanent elevator equipment are escalating in tandem.
Demand has placed a huge pinch in the private nonresidential building sector, which as of April has grown nearly 16% over last year, according to the U.S. Dept. of Commerce. Firms that rent hoists are replacing worn-out units and investing in larger fleets. “Our business has increased 15% a year for the last three years,” says Dale Stoddard, president of Houston-based Alimak Hek Inc. “We see no signs of it slowing down.”