Elevator and Escalator Market in India 2023-2027
Technavio has been monitoring the elevator and escalator market in India and is forecast to grow by $784.24 mn during 2022-2027, accelerating at a CAGR of 8.9% during the forecast period. Our report on the elevator and escalator market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing number of high-speed metro projects, rising disposable income and economic growth, and the growing number of office spaces and commercial establishments.
Technavio's elevator and escalator market in India is segmented as below:
By Product
By End-user
- Residential
- Non-residential
This study identifies the rising demand for customization in elevators as one of the prime reasons driving the elevator and escalator market growth during the next few years. Also, the evolution of smart elevators and rising demand for energy-efficient elevators will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the elevator and escalator market in India covers the following areas:
- Elevator and escalator market sizing
- Elevator and escalator market forecast
- Elevator and escalator market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading elevator and escalator market vendors that include Beacon Elevator Co. Pvt. Ltd., Blue Star Elevators India Ltd., City lift India Ltd., Easa Elevators Pvt. Ltd., ESCON Elevators Pvt. Ltd., Express Lifts Ltd., Fujitec Co. Ltd., Grj Elevator Pvt. Ltd., Hitachi Ltd., Johnson Lifts Pvt. Ltd., Kinetic Hyundai Elevator and Movement Technologies Ltd., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., RP Bidyut Elevator, Schindler Holding Ltd., SEPL India Ltd., thyssenkrupp AG, Toshiba Corp., and TRIO Elevators Co. India Pvt. Ltd. Also, the elevator and escalator market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.