Indian Elevator Industry All Set To Skyrocket
Indian Lift Industry Report 2016-2017
Elevators and Escalators market in India
is projected to grow at a CAGR of over 8% during the period 2016 – 2021. Growth
drive factors include:
Increasing urbanization,
Rising
construction of high rise buildings,
Growing real estate sector,
Rising investments on improvement of public
infrastructure,
Rising
government initiatives such as smart cities and AMRUT cities.
Modernization of airports and railway stations.
Passenger elevator segment dominates the India elevators market, followed by goods elevators.
Increasing number of high rise buildings is a key factor driving demand for
passenger elevators across different segments including residential,
commercial, industrial and the government sector. Major companies operating in India elevators market at a Pan-India level include Kone, Otis, Schindler, ThyssenKrupp, and
Escon etc.
South India dominated the India
elevators market on account of increasing infrastructure projects in the region
and growing focus on real estate construction.
Cities like Mumbai, Delhi, Noida, Gurgaon, Bangalore,
Hyderabad and Chennai
are the major demand generators for elevators and escalators in the country. At
the secondary level, Pune, Surat, Mangalore, Visakapatanam were demand
generators for Elevators.
Elevators In Kerala:
In Kerala, Kochi, Thrissur, Kozhikode, Kottayam and Thiruvanathapuram
are major markets with small local players trying to cash in on the rising
demand.
Thank you so much for sharing your knowledge and perspectives on elevators. It is appreciated.
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