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Estimating the number of lifts in the US

Question

How many elevators would you guess are installed across the United States? Explain your estimate.

Short answer

Somewhere around 1 million. Split by building type: tall residential blocks (say 100,000100{,}000 buildings with an average of 22–33 lifts), office and commercial buildings (200,000200{,}000 with 22 each), hospitals, hotels and malls (tens of thousands with several each), plus low-rise buildings with a single lift for access. Summing gives several hundred thousand to about a million; published industry figures are close to 900,000900{,}000–1,000,0001{,}000{,}000.

Adapted from Crack, Heard on the Street, Q5.5.8, p.55; question and answer rewritten by SelfMadeQuant.com.

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