India Elevator and Escalator Market (2020-2026) | Industry, Share, Size, Trends, Value, Forecast, Analysis, Growth, Revenue, Outlook, Segmentation & COVID-19 IMPACT

India Elevator And Escalator Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Thailand. It has registered a decline of -2.08% over the previous year. While Thailand registered a decline of -41.33% as compared to the previous year. In the year 2017, China was the largest exporter followed by Thailand. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, India has a Herfindahl index of 4710 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  4668 which signifies high concentration in the market.

India Elevator And Escalator Market - Export Market OpportunitiesLatest 2023 Developments of the India Elevator and Escalator Market

The India Elevator and Escalator Market is currently experiencing some major developments. The players in the market are focusing on eco-friendly and energy-efficient systems which can aid them in reducing carbon emissions. The rising adoption of advanced elevators equipped with smart technologies like IoT sensors, machine learning, and artificial intelligence is a significant development that is leading to the India Elevator and Escalator Market growth. Advanced elevators are designed so they can provide a seamless user experience and reduce downtime and optimize performance. The surge in construction projects across many sectors such as commercial, residential, healthcare, hospitality, and retail in the nation is also propelling the market growth. This led to a high demand for elevator and escalator installations since developers seek to improve their properties' value proposition. 

Topics Covered in the India Elevator and Escalator Market Report

India Elevator And Escalator Market are projected to grow over the coming years. India Elevator And Escalator Market report is a part of our periodical regional publication Asia Pacific Elevator And Escalator Market Outlook report. 6W tracks the elevator and escalator market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Elevator And Escalator Market outlook report annually.

The India Elevator and Escalator Market report thoroughly covers the market by types, services, and end-user The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Elevator and Escalator Market Synopsis

India Elevator and Escalator Market has promising growth prospects over the next few years. This growth is primarily driven by the rising number of construction projects across the country as well as gradually increasing investment in infrastructure and construction projects post the Covid-19 Pandemic. Additionally, growing commercial and residential activities across several parts of the country have also spurred the growth of the Elevator and Escalator Market in India. However, the market witnessed a decline in growth as a result of delays in major construction projects along with shrinking investment in infrastructural development activities especially during the pandemic. Currently, the market has recovered and is expected to gain momentum in the future.

According to 6Wresearch, India Elevator and Escalator Market size is anticipated to register substantial growth during 2020-2026. The growth can be attributed to rapid urbanization as well as increasing government initiatives in the infrastructure and development projects such as smart city development projects as well as growing public infrastructure including an increase in the number of metro lines to improve inter-state connectivity, construction of international airports and other public infrastructure in India. Further, rapid privatization along with increasing public-private partnerships have also resulted in the construction of malls, shopping complexes,es and other commercial projects in the country.

COVID-19 Impact on India Elevator and Escalator Industry

The pandemic had a key impact on the Elevator and Escalator Market in India. With the imposition of lockdowns as well as social distancing measures, construction activities were completely hindered, which led to a reduction in demand for new installations. Additionally, maintenance schedules were completely disrupted owing to restrictions on movement, which led to a rise in breakdowns as well as repairs, further affecting the revenue generated by elevator and escalator players. However, with the ease of restrictions as well as the resumption of construction activities, there was a gradual recovery in demand for the new installations. Players were also adapting by offering remote monitoring solutions that enable for timely maintenance.

India Elevator and Escalator Market: Key Players

Some of the major players operating in the market are:

• Otis Elevator Company India Ltd.
• Johnson Lifts Pvt Ltd.
• KONE Elevators India Pvt Ltd.
• Schindler India Pvt Ltd.
• Mitsubishi Electric India Private Limited

Market Analysis by Type

India Elevator and Escalator market is majorly dominated by the elevators segment. This growth is mainly on account of an increase in the construction of high-rise buildings, rapid urbanization, and improvement in the infrastructure of the developing countries. Further, the growing population and increasing number of commuters has led to a rise in the maintenance and repair of existing elevators and escalators resulting in generating a greater profit share for vendors in India.

Market Analysis by End Users

The residential end-users have accounted for the majority of the market share in the overall Elevator and Escalator market in India. The growth is mainly due to rising investments in real estate along with rapid urbanization. On the other hand, growth in the construction of new office spaces, and ownership of multiple commercial buildings has led to a rise in the demand for elevators and escalators by the commercial end-users in the country.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Elevator and Escalator Market Outlook
• Market Size of India Elevator and Escalator Market, 2019
• Forecast of India Elevator and Escalator Market, 2026
• Historical Data and Forecast of India Elevator and Escalator Revenues & Volume for the Period 2016 - 2026
• India Elevator and Escalator Market Trend Evolution
• India Elevator and Escalator Market Drivers and Challenges
• India Elevator and Escalator Price Trends
• India Elevator and Escalator Porter's Five Forces
• India Elevator and Escalator Industry Life Cycle
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Types for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Elevator for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Escalator for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Moving Walkways for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Services for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Maintenance & Repair for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By New Installation for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Modernization for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By End-User for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Residential for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Commercial for the Period 2016 - 2026
• Historical Data and Forecast of India Elevator and Escalator Market Revenues & Volume By Public for the Period 2016 - 2026
• India Elevator and Escalator Import Export Trade Statistics
• Market Opportunity Assessment By Types
• Market Opportunity Assessment By Services
• Market Opportunity Assessment By End-User
• India Elevator and Escalator Top Companies Market Share
• India Elevator and Escalator Competitive Benchmarking By Technical and Operational Parameters
• India Elevator and Escalator Company Profiles
• India Elevator and Escalator Key Strategic Recommendations

Market Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Elevator
• Escalator
• Moving Walkways
  

By Services

• Maintenance & Repair
• New Installation
• Modernization
  

By End-User

• Residential
• Commercial
• Public

India Elevator and Escalator Market: FAQs