India Elevators and Escalators Market

Elevators are powdered by electronic motors and help in effectively transporting people or goods between different floors of a building or any commercial spaces. Escalators run on alternating current motors in the form of a moving staircase whose steps move in an upward and downward direction. It has more capacity to move a large number of people as compared to the elevators. They are a type of vertical transportation that requires more power as it operates continuously. Elevators and escalators provide better convenience to people while traveling in a shopping mall, hotels, airports, and train stations.

To have an edge over the competition by knowing the market dynamics and current trends of “India Elevators and Escalators Market,” request for Sample Report here

The major factors contributing towards the growing demand of the India elevators and escalators market include the increasing number of high-rise commercial and residential buildings in India driven by rapid urbanization and increasing governmental focus on providing better and improved infrastructure facilities. Moreover, the increasing investments by the government and private sectors for the construction of public infrastructure will further enhance the demand for escalators and elevators in India. The high disposable income, along with the young working population, is also a major factor boosting the growth of the India elevator and escalator market. In addition to this, the increasing government initiatives such as Pradhan Mantri Awas Yojana and Smart Cities Mission is expected to support growth in the India elevators and escalators market over the forecast period. On the other hand, the high installation costs and limited availability of skilled labor for after-sales maintenance are the major restraining factors in the India elevators and escalators market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the elevator technology, the Machine Room-Less Traction elevator technology is expected to grow at a higher CAGR over the forecast period owing to its ability to provide higher energy efficiency, advanced safety mechanisms, and lower weight as compared to the conventional traction.

Based on the type, the Elevators type is projected to capture a higher CAGR over the forecast period attributed to the accelerated usage of elevators in various industries. Additionally, the increasing adoption of smart, fast, and environment-friendly elevators will further boost the elevators segment in India over the forecast period.

Based on the application, Non-Commercial segment is projected to lead the market during the forecast period in the India elevators and escalators market owing to the strong demand for elevators and escalators in the residential sector. Moreover, the drastic increase in the construction of residential and high-rise buildings will further drive the growth of the non-commercial application in the India elevators and escalators market during the forecast period.

Based on the services, the New Installation services segment is predicted to grow at a higher CAGR during the forecast period due to the rapid expansion in the construction sector driven by the growth in GDP. Moreover, the Maintenance and Modernization services segment is anticipated to dominate the market over the forecast period owing to the rising installed base accumulated over the last few years in India.

Based on the building type, the high rise segment is predicted to grow at higher CAGR in the India elevators and escalators market over the forecast period attributed to the rising number of high-rise commercial and non-commercial buildings across India. In addition, the continuous construction of high-rise buildings in various sectors such as retail, transportation, residential, and other sectors will further enhance the market growth of the high rise building type in the India elevators and escalators market.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here

Various notable players operating in the market, include, KONE Elevator India Pvt. Ltd., Schindler India Pvt. Ltd., Mitsubishi Elevator India Pvt. Ltd., Otis Elevator Company (India) Pvt. Ltd., Thyssenkrupp Elevator (India) Pvt. Ltd., Fujitech India Pvt. Ltd., Escon Elevators Pvt.Ltd., Kinetic Hyundai Elevator & Movement Technologies Ltd., Toshiba India Pvt. Ltd., Blue Star Elevators India Ltd, among others.

Key Developments:

• • In 2019, KONE Corporation opened a new facility in Chennai through its subsidiary KONE Elevator India Pvt. Ltd. Through this expansion, the company majorly focus on the Indian market and also planned to export to neighbouring countries such as Bhutan, Nepal, Bangladesh, and Sri Lanka.
  • In 2019, Mitsubishi Elevator India Pvt. Ltd. subsidiary of Mitsubishi Electric Corporation launched the NEXIEZ-LITE MRL elevator to cater to the growing demand in the Indian market.

The India elevators and escalators market has been segmented on the basis of elevator technology, type, application, services and building type. Based on elevator technology, the market is segmented into traction, hydraulic and machine room-less traction. Based on type, the market is segmented into elevators, escalators and moving walkways. Based on elevators, the market is segmented into passenger elevator, freight elevator and others. Based on passenger elevator, the market is segmented into bed elevator, service elevator, observation elevator and residential elevator. Based on freight elevator, the market is segmented into dumbwaiters and vehicle elevators. Based on application, the market is segmented into commercial and non-commercial. Based on services, the market is segmented into new installation, maintenance and modernization. Based on building type, the market is segmented into low rise, mid rise and high rise.

For detailed scope of the “Elevators and Escalators Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is India elevators and escalators market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in elevators and escalators market? What will be the impact of drivers and restraints in the future?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various application areas of India elevators and escalators market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Elevator Technology, By Type, By Application, By Services, By Building Type
Regional Coverage	India
Companies Profiled	KONE Elevator India Pvt. Ltd., Schindler India Pvt. Ltd., Mitsubishi Elevator India Pvt. Ltd., Otis Elevator Company (India) Pvt. Ltd., Thyssenkrupp Elevator (India) Pvt. Ltd., Fujitech India Pvt. Ltd., Escon Elevators Pvt.Ltd., Kinetic Hyundai Elevator & Movement Technologies Ltd., Toshiba India Pvt. Ltd., Blue Star Elevators India Ltd, among others.; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

India Elevators and Escalators Market by Elevator Technology

• • Traction
  • Hydraulic
  • Machine Room-Less Traction

India Elevators and Escalators Market by Type

• • Elevators
    • Passenger Elevator
      • Bed Elevator
      • Service Elevator
      • Observation Elevator
      • Residential Elevator
    • Freight Elevator
      • Dumbwaiters
      • Vehicle Elevators
    • Others
  • Escalators
  • Moving Walkways

India Elevators and Escalators Market by Application

• • Commercial
  • Non-commercial

India Elevators and Escalators Market by Services

• • New Installation
  • Maintenance
  • Modernization

India Elevators and Escalators Market by Building Type

• • Low Rise
  • Mid Rise
  • High Rise

Leading market players (Option 1: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • KONE Elevator India Pvt. Ltd.
  • Schindler India Pvt. Ltd.
  • Mitsubishi Elevator India Pvt. Ltd.
  • Otis Elevator Company (India) Pvt. Ltd.
  • Thyssenkrupp Elevator (India) Pvt. Ltd.
  • Fujitech India Pvt. Ltd.
  • Escon Elevators Pvt.Ltd.
  • Kinetic Hyundai Elevator & Movement Technologies Ltd.
  • Toshiba India Pvt. Ltd.
  • Blue Star Elevators India Ltd