The invention relates to the technical field of basement building construction, in particular to the technical field of high-water-level elevator foundation pit or sump construction, and particularly discloses a component for tubular well precipitation construction in an elevator foundation pit or sump. The component comprises a hollow sleeve, wherein a horizontal support plate, perpendicular to the sleeve, is arranged at the lower part of the sleeve, the sleeve is provided with an eave board above the support plate, the sleeve penetrates through the eave board and the support plate, and the eave board and the support plate are fixed with and in seamless connection with the sleeve; and the part, below the support plate, of the lower part of the sleeve is inserted into a tubular well, and the support plate is horizontally erected outside the opening of the tubular well and used for supporting the sleeve. The invention further discloses a construction method. The construction method comprises the following steps of tubular well precipitation, earth excavation, component mounting, cushion layer construction, water-proof layer construction, foundation raft concrete pouring, earth backfilling, tubular well blocking and the like. By applying the component and the construction method, the construction of the cushion layer, the water-proof layer and the foundation raft of the elevator foundation pit or sump can be conveniently carried out, the construction water-proof quality can be ensured, the construction efficiency can be improved, and the construction cycle can be shortened.