India Elevators and Escalators Market By Type of Carriage (Passenger, Freight & Others), By Elevator Door Type (Manual & Automatic), By End Use Sector (Residential, Commercial, Government Institutions & Industrial), Competition Forecast & Opportunities, 2011 - 2021
An elevator or lift can be defined as a machine installed in buildings to carry, lift, transport or move people and goods from one floor to another. An elevator can be used in various types of settings such as residential complexes, commercial buildings, malls, hospitals, etc., for moving passengers or goods from one level to another. Rising demand for elevators in India can be attributed to increasing construction of high rise buildings, growing real estate sector, increasing urbanization coupled with rising government initiatives such as smart city and AMRUT city projects in the country. In addition, growing government focus towards building high class infrastructure coupled with rising investment on improvement of public infrastructure such as construction of new airports and metro rail projects in large cities is driving demand for elevators in India. Companies involved in manufacturing elevators are also increasing their focus on manufacturing smart and energy efficient elevators.
According to “India Elevators and Escalators Market By Type of Carriage, By Elevator Door Type, By End Use Sector, Competition Forecast & Opportunities, 2011 - 2021”, the market for elevators in India is projected to grow at a CAGR over 8% during 2016-2021. South region dominated the country’s elevators market, due to increasing government projects, rising commercial and high rise buildings in the region. Further, passenger elevators grabbed the largest volume share in India elevators market, on account of increasing number of housing projects, premium hotels, government infrastructure development projects, etc. Kone India, Otis, Schindler India, Johnson Lifts, ThyssenKrupp, etc., are few of the major companies operating in India elevators market. “India Elevators and Escalators Market By Type of Carriage, By Elevator Door Type, By End Use Sector, Competition Forecast & Opportunities, 2011 - 2021” discusses the following aspects of the elevators market in India: