6wresearch logo

India Elevator and Escalator Market (2017-2023)-6wresearch

January 31, 2017

India Elevator & Escalator Market is projected to grow at a CAGR of 8.1% during 2017-23 - 6Wresearch

Elevator & Escalator market in India has registered growth in last few years on the back increase in number of high rise buildings, expansion and construction of airports and metros, construction of malls and hotels across the country especially in tier 1 & 2 cities, and increasing acceptance in residential sector.

According to 6Wresearch, India Elevator & Escalator Market is projected to grow at a CAGR of 8.1% during 2017-23. In the year 2016, the market declined and a similar trend is expected in 2017 due to decline in construction industry and demonetization of the Indian currency. Demonetization is likely to impact the spending, which would further affect the purchasing decisions of the end users; however, market is expected to recover in 2018.

Major market of elevator & escalator is driven by new installations, but maintenance segment is also recording growth due to increasing number of installed base across the country. Western region dominates the market followed by Southern region. In the coming years, eastern region is expected to witness key growth as a result of new development projects.

According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, "government investments for the development of new airports and metros in different cities has given the major boost to the market demand for elevators and escalators."

"Further, government of India projects such as Smart City and AMRUT would create additional market for elevators and escalators across the country," Shefali further added.

According to Aditi Sharma, Research Associate, Research and Consulting, 6Wresearch, "the usage of destination dispatch technology is anticipated to improve the efficiency of the elevators. The usage of this technology becomes more critical in high rise buildings. In the forecast period, the adoption of this technology would surge owing to increase in number of high rise buildings in the country."

"Along with the dispatch technology, the market is exhibited to witness demand for high speed elevators to improve the overall performance and efficiency of elevators," Aditi concluded.

Key players in India's elevator & escalator market includes- Kone, Schindler, ThyssenKrupp, Otis, Mitsubishi, Toshiba, Hitachi, Fujitec, Kinetic Hyundai, and Johnson Lifts.

"India Elevator & Escalator Market (2017-2023)" provides in-depth analysis of India Elevator & Escalator Market covered in more than 110 pages. The report estimates and forecast overall India elevator & escalator market by revenue, volume, segments such as new installation, maintenance and modernization, regions and applications such as residential, commercial and industrial sectors. The report also gives the insights on market share by companies, companies benchmarking, company profiles, market drivers and restraints.

Media Source: Open PR

      Browse More Report

Middle East Power Tools Market (2018-2024)

Market Forecast By Types (Electric and Pneumatic), By Tool Types (Metal, Concrete, Wood Working and Others), By Verticals (Construction, Automotive, Manufacturing and Others), By Countries (Turkey, Iran, Saudi Arabia, UAE, Qatar, Oman, Bahrain and Kuwait)...

Read More

Sri Lanka Stationery Market (2018-2024)

Market Forecast By Type (Paper Stationery (Copier, Exercise Notebook, Premium Paper Stationery and Other Paper Stationery), Non-Paper Stationery (Pen, Pencil, Eraser, Scale, Sharpener, Art Stationery, Pencil Box, Eraser and Other Non-Paper Stationery...

Read More

Europe Blockchain Technology Market (2018-2024)

Market Forecast By Technology Types (Public Blockchain, Private and Permissioned Blockchain and Hybrid Blockchain), By Applications (Financial and Non-Financial), By End- Users (BFSI, Government and Public Sector, Transportation and Logistics, Healthcare...

Read More

Myanmar Stationery Market (2018-2024)

Market Forecast By Paper Stationery Types (Copier Paper (65-70 GSM, 70-80 GSM and Above 80 GSM), Exercise Notebook (Notebook, Drawing Notebook, Notepad and Others including Graph Notebook and Practical Notebook), Premium Paper Stationery...

Read More

Africa Solar Water Pump Market (2018-2024)

Market Forecast By Power Rating (Upto 3 HP, 3.1 to 10 HP and Above 10 HP), By Design Type (Surface and Submersible), By Drive Type (AC Motor and DC Motor), By Applications (Agriculture and Domestic), By Countries (Tanzania, Ethiopia, Kenya, South Africa, Tunisia, Egypt...

Read More

India Self Priming Pumps Market (2018-2024)

Market Forecast By Types (Electric and Diesel), By Head Range (Below 30 m, 30-50 m, 50.1-100 m and Above 100 m), By Horse Power (Below 1 HP, 1-3 HP, 3.1-5 HP, 5.1-7 HP, 7.1-10 HP and Above 10 HP), By Applications (Residential, Agriculture, Oil & Gas...

Read More

India Smart TV Market (2018-2024)

Market Forecast By Screen Type (Curved and Flat), By Screen Size (32 to 45 inches, 46 to 55 inches, 56 to 65 inches and Above 65 inches), By Resolution (4K UHD TV, Full HD TV and HD Ready), By Technology (LED, OLED and QLED), By Distribution Channels...

Read More

India Power Tools Market (2018-2024)

Market Forecast By Technology (Electric Power Tools (Corded Power Tools and Cordless Power Tools) and Pneumatic Power Tools)), By Tool Types (Metal Segment, Concrete Segment, Wood-working Segment and Others), By Verticals...

Read More

Bangladesh Stationery Market (2018-2024)

Market Forecast By Types (Paper Stationery (Copier, Exercise Notebook, Premium Paper Stationery and Other Paper Stationery) and Non-Paper Stationery (Pen, Pencil and Other Non-Paper Stationery (Art Stationery, Scale, Sharpener, Eraser, Pencil Box...

Read More

India Art Stationery Market (2018-2024)

Market Forecast By Types (Crayons (Wax Crayons and Plastic Crayons), Pencil Colors, Oil Colors, Sketch Pens, Oil Pastels, Poster Colors, Acrylic Colors and Other Art Stationery)), By End Users (Students and Professional & Hobby Artists), By Regions...

Read More

Middle East Transfer Switch Market (2018-2024)

Market Forecast By Types (Automatic Transfer Switch and Manual Transfer Switch), By Transition Mode (Open Transition Mode and Closed Transition Mode), By Ampere Rating (0-400A, 400-1600A and Above 1600A), By Applications (Industrial, Commercial and Residential)...

Read More


Our Key Clients
6wreserach client list


6Wresearch Events
6wreserach events