India Elevators Market was valued at USD 1466.28 million in FY2022 and is anticipated to project robust growth during the forecast period at a CAGR of 5.82% owing to the high pace of industrialization and increasing construction of skyscrapers etc.
A building’s elevator or lift is a device put there to carry, lift, transport, or move people and things from one floor to another. A passenger or item can be transported from one level to another via an elevator in a variety of environments, including residential communities, commercial buildings, malls, hospitals, etc. Elevators can also be used in industrial settings such as factories to move equipment, supplies, and finished goods between levels.
Increasing Demand for MRL (Machine Room Less) Elevators
The benefits of machine room-free elevators include improved energy efficiency, lighter weight and more design options, best use of hoist-way space, etc. The demand for high-speed traction elevators is skyrocketing as there are more and more high-rise office and residential buildings around the nation. For unique customer needs, market participants are launching high-speed, ultra-high-speed, and machine room-less elevators to meet the expanding market demand. Download FREE Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7564
High-Rise Buildings Using UltraRope Technology
The elevator can travel up to a height of around 1,000 meters thanks to the ultra-lightweight hoisting technology known as UltraRope. The demand for UltraRope is rising along with the number of high-rise office and residential structures. For instance, KONE UltraRope gets rid of the drawbacks of current steel ropes such as excessive energy consumption, rope stretch, big moving masses, and downtime brought on by building wobble. As it is made of a carbon fiber core and a special high-friction coating, the KONE UltraRope is incredibly light. This results in an 11% reduction in elevator energy usage.
Energy-saving Regenerative Drives are a New Innovation in Elevator Technology
The usage of equipment with improved energy efficiency is urgently required. Solar-powered elevators have been created by businesses such as Schindler, which save a large amount of energy while drawing power straight from the sun. Due to decreased operating costs and lesser wear and tear, these regenerative drives and eco-efficient solutions also guarantee an extended equipment life.
Market Segmentation
The India Elevators Market is segmented based on type of carriage, type of machinery, type of elevator door, weight, end user, region, and company. Based on the type of carriage, the market is further fragmented into passenger, freight & others. Based on the type of machinery, the market is segmented into traction & hydraulic. Based on the type of elevator door, the market is segmented into automatic & manual. Based on weight, the market is segmented into up to 350 Kg, up to 550 Kg, up to 750 Kg, up to 1150 Kg & more than 1150 Kg. Based on end user, the market is further segmented into residential, commercial, industrial & government institution. The market analysis also studies the regional segmentation, divided among North, South, East, and West.
Company Profiles
KONE Elevator India Private Limited, Johnson Lifts India Private Limited, Schindler India Pvt. Ltd, OTIS Elevator Company (India) Ltd, TK Elevator India Private Limited, Mitsubishi Elevator India Pvt. Ltd, Fujitec India Pvt. Ltd, Escon Pvt. Ltd, Hitachi Lift India Pvt. Ltd, Blue Star Elevator Pvt. Ltd, Express Lift Ltd, Omega Elevators, Eros Elevators Pvt. Ltd. are among the major market players in the India platform that lead the market growth of the India elevators market.
AttributeDetailsMarket size value in 2022USD 1,466.28 million Revenue Forecast in 2028USD 2,083.91 millionGrowth Rate5.82%Base Year2022Historical Years2018 – 2021Estimated Year2023Forecast Period2024 – 2028Quantitative UnitsRevenue in (USD million), and CAGR for 2018-2022 and 2023-2028Report Coverage Revenue forecast, company share, competitive landscape, growth factors, and trendsSegments Covered· Type of Carriage· Type of Machinery· Type of Elevator Door· Weight· End UserRegional ScopeNorth, South, East & West.Key Companies ProfiledKONE Elevator India Private Limited, Johnson Lifts India Private Limited, Schindler India Pvt. Ltd, OTIS Elevator Company (India) Ltd, TK Elevator India Private Limited, Mitsubishi Elevator India Pvt. Ltd, Fujitec India Pvt. Ltd, Escon Pvt Ltd, Hitachi Lift India Pvt. Ltd, Blue Star Elevator Pvt. Ltd, Express Lift Ltd, Omega Elevators, Eros Elevators Pvt. Ltd, Orbis Elevators Co Ltd, Supreme Elevators & Company.Customization Scope10% free report customization with purchase. Addition or alteration to country, regional & segment scope.Pricing and Purchase OptionsAvail customized purchase options to meet your exact research needs. Explore purchase optionsDelivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
In this report, India elevators market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Elevators Market OverviewIndia Elevators Market LandscapeIndia Elevators Market Outlook
7.1. Market Size & Forecast7.1.1. By Value7.1.2. By Volume7.1.3. By New Installation7.1.4. By Maintenance Service7.2. Market Share & Forecast7.2.1. By Type of Carriage (Passenger, Freight & Others)7.2.2. By Type of Machinery (Traction & Hydraulic)7.2.3. By Type of Elevator Door (Automatic & Manual)7.2.4. By Weight (Up to 350Kg, Up to 550Kg, Up to 750Kg, Up to 1150Kg & More than 1150Kg)7.2.5. By End User (Residential, Commercial, Industrial & Government Institution), By Value7.2.6. By End User (Residential, Commercial, Industrial & Government Institution), By Volume7.2.7. By Region 7.2.8. By Cities7.2.9. By Cities7.3. Product Market Map7.4. Import-Export Analysis
- India Residential Elevators Market Outlook
8.1. Market Size & Forecast8.1.1. By Value8.1.2. By Volume8.2. Market Share & Forecast8.2.1. By Type of Machinery8.2.2. By Type of Elevator Door8.2.3. By Weight8.2.4. By Region
- India Commercial Elevators Market Outlook
9.1. Market Size & Forecast9.1.1. By Value9.1.2. By Volume9.2. Market Share & Forecast9.2.1. By Type of Machinery9.2.2. By Type of Elevator Door9.2.3. By Weight9.2.4. By Region
- India Industrial Elevators Market Outlook
10.1. Market Size & Forecast10.1.1. By Value10.1.2. By Volume10.2. Market Share & Forecast10.2.1. By Type of Machinery10.2.2. By Type of Elevator Door10.2.3. By Weight10.2.4. By Region
- India Government Institution Elevators Market Outlook
11.1. Market Size & Forecast11.1.1. By Value11.1.2. By Volume11.2. Market Share & Forecast11.2.1. By Type of Machinery11.2.2. By Type of Elevator Door11.2.3. By Weight11.2.4. By Region