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Elevator Installation & Service in New Mexico

Author.Name IBISWorld United States Last Updated: August 2025 NAICS NM23829

Elevator Installation & Service in New Mexico industry analysis

The Elevator Installation & Service industry in New Mexico is expected to decline an annualized -x.x% to $x.x million over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments decreased an annualized -x.x% to xx locations. Industry employment has decreased an annualized -x.x% to xxx workers, while industry wages have decreased an annualized -x.x% to $x.x million.

Over the five years to 2030, the industry is expected to decline an annualized -x.x% to $x.x million, while the national industry is expected to grow x.x%. Industry establishments are forecast to grow x.x% to xx locations. Industry employment is expected to decrease an annualized -x.x% to xxx workers, while industry wages are forecast to decrease -x% to $x.x million.

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About the Elevator Installation & Service in New Mexico Market Research Report

What’s Included in the Elevator Installation & Service in New Mexico Market Research Report

Definition of the Elevator Installation & Service in New Mexico?

This industry comprises establishments primarily engaged in one or more of the following activities: installing or dismantling elevators, escalators and moving walkways; machine rigging; millwrighting; and modernizing and maintaining installed products, which include elevators, dumbwaiters, escalators, conveyor systems and automated revolving doors.

What’s included in the Elevator Installation & Service in New Mexico?

The Elevator Installation & Service in New Mexico includes elevator installations, elevator maintenance and repair services, escalator installation, maintenance and repair services, millwright and machine rigging contracting, conveyor-system installation, automated and revolving-door installation and dumbwaiter installation. Related terms covered in the Elevator Installation & Service in New Mexico industry report includes a certified trade occupation involving installing, replacing, dismantling and repairing machinery and heavy equipment, typically involves installing a computerized control system (intelligent network) that monitors and controls the mechanical and lighting systems in a building, a vertical transport vehicle that moves people and/or goods between floors of a building, a moving staircase conveyor transport device designed for moving large numbers of people between floors. widely used in shopping malls, on transit systems and in public buildings and an establishment without payroll employees, typically a sole proprietorship or partnership.

Industry Performance of the Elevator Installation & Service industry in New Mexico

Benchmark the Elevator Installation & Service in New Mexico industry performance with all NM county and national performance.

Elevator Installation & Service in New Mexico

#48 in Highest Revenue 0.1% of state's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Elevator Installation & Service in the US


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Elevator Installation & Service industry in New Mexico

See how key industry drivers, such as house price index, newly issued building permits, private investment in non-residential construction, private investment in manufacturing structures, value of private nonresidential construction and corporate profit are impacting Elevator Installation & Service in New Mexico

New Mexico Economic Indicators

House Price Index
Newly issued building permits
Private Investment in Non-Residential Construction

View more economic information in NM State Economic profile

US Key External Drivers

Private investment in manufacturing structures
Value of private nonresidential construction
Corporate profit

For the full list of industry drivers, see report purchase options.

County Data of the Elevator Installation & Service industry in New Mexico

Access proprietary data on county in the Elevator Installation & Service in New Mexico, such as Bernalillo County, Santa Fe County and San Juan County. Data includes figures on revenue, establishments, employees and wages by counties.

Key Statistics of the Elevator Installation & Service industry in New Mexico

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Elevator Installation & Service industry in New Mexico in 2025?

The market size of the Elevator Installation & Service industry in New Mexico is $60.3m in 2025.

How many businesses are there in the Elevator Installation & Service industry in New Mexico in 2025?

There are 93 businesses in the Elevator Installation & Service industry in New Mexico, which has been declining at an average annual rate of -0.6% from 2020 to 2025.

Has the Elevator Installation & Service industry in New Mexico grown or declined over the past 5 years?

The market size of the Elevator Installation & Service industry in New Mexico has been declining at an average annual rate of -3.4% from 2020 to 2025.

How many employees in the Elevator Installation & Service industry in New Mexico in 2025?

There are 203 employees in the Elevator Installation & Service industry in New Mexico, which has been declining at an average annual rate of -1.8% from 2020 to 2025.