In India, continuous construction of high rise buildings and growing government expenditure on infrastructure development have spurred wide installation of elevators & escalators. In India, elevator segment has captured major share in overall elevators & escalators market, where majority of the market installations are witnessed in areas such as residential, retail, transportation and hospitality sectors.
According to 6Wresearch, India Elevator & Escalator Market is expected to grow at a CAGR of 8.1% during 2017E-23F. In India, gearless & machine room less type of technology elevator is growing at a faster rate than geared type of elevator and is expected to hold the major share in coming years. In escalator segment, moving stairs escalator has led the market, however moving walkway sub-segment is gaining popularity with the installation at airports, and shopping centers. In 2016, amongst all the applications, commercial application captured the largest share in overall elevator & escalator market.
The report thoroughly covers the market by elevators and escalators types, sub-segments, services, applications, and regions. The report provides the unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Media Source: Open PR