India Elevators and Escalators Market Segmented By Type (Elevator, Escalator and Moving Walkways), By Elevator Door Type (Automatic and Manual), By Elevator Technology (Traction, Machine Room-Less Traction and Hydraulic), By Service (Modernization and Maintenance & Repair, New Installation), By End User (Residential, Commercial, Infrastructural, Institutional, and Others), By Region, and By Competition 2019-2029F

Market Overview

India Elevators and Escalators Market was valued at USD 1.68 billion in 2023 and is anticipated to reach USD 2.38 billion by 2029, with a CAGR of 5.79% during 2025-2030.

The Indian government has initiated several projects aimed at promoting infrastructure development and urbanization. The "Smart Cities Mission" is a prime example of this, focusing on creating sustainable and efficient urban spaces. These government-driven initiatives create opportunities for elevator and escalator manufacturers and service providers to equip these smart cities with advanced vertical transportation systems.

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Key Market Drivers

Urbanization and High-Rise Construction Boom

Rapid urbanization and the steady rise of high-rise construction are creating a strong demand base for elevators and escalators in India, as taller residential towers, office complexes, mixed-use developments, airports, metro stations, and malls increasingly depend on efficient vertical mobility systems to manage dense footfall and improve accessibility in land-constrained cities. This trend is no longer limited to major metros, because vertical development is also spreading across tier-2 and tier-3 cities where developers are building mid-rise and high-rise projects to accommodate growing urban populations and changing land-use patterns, making elevators a basic part of modern building design rather than a premium add-on.

Public infrastructure investment is reinforcing this shift, with the Government of India stating that the National Infrastructure Pipeline targeted around ₹111 lakh crore of investment during FY20 to FY25 and that the Smart Cities Mission had completed 7,555 projects worth ₹1,51,361 crore as of May 9, 2025, both of which support sustained installations across urban transport, commercial, and civic infrastructure. A strong industry signal comes from KONE India, which says it serves customers nationwide through more than 50 branches, employs over 5,000 people in the country, and manufactures in Chennai for India and neighboring markets, underscoring how major global players are scaling local capacity to capture India’s long-term vertical growth opportunity.

Increased Focus on Accessibility and Safety Regulations

A stronger focus on accessibility and safety is becoming a major demand driver for India’s elevators and escalators industry, as developers, facility managers, and public infrastructure authorities place greater emphasis on compliant vertical mobility systems that can serve elderly users, persons with disabilities, patients, and high daily passenger volumes with better reliability and lower risk. This shift is being reinforced by the evolution of India’s standards framework, with BIS listing IS 17900 Part 1 as the current safety rules standard for lifts, while additional sections under the same series address maintenance, control devices, evacuation lifts, and minimum requirements for safe and independent use by persons with disabilities, indicating a broader move toward lifecycle safety rather than simple installation compliance.

The National Building Code 2016 also remains an important reference point for fire and life safety, and the Directorate General Fire Service notes that states are being advised to incorporate these provisions into local bye laws, which keeps pressure on builders to install better specified systems in residential, commercial, hospital, and transit projects. A clear industry response can be seen in Otis India’s 2024 expansion of its Bengaluru facility, where the company said the site had already launched more than 25 products, would raise overall capacity by about 20 percent, and would help supply 112 elevators for Bengaluru Metro Phase 2 and 255 units for the Bhopal and Indore metro projects.

Infrastructure Development and Retrofitting Projects

Infrastructure development and retrofitting projects are emerging as major demand drivers for India’s elevators and escalators industry, as the country upgrades airports, metro systems, railway stations, hospitals, malls, and older residential and commercial buildings that increasingly require safer, more efficient, and more accessible vertical mobility systems. New infrastructure creates fresh installation demand, while aging building stock is opening a parallel modernization opportunity because property owners must improve performance, reduce downtime, cut energy use, and align with evolving safety requirements without always replacing the full system. This is especially relevant in dense urban areas where retrofits can extend asset life and improve user experience at lower disruption levels than full structural overhauls.

Public schemes continue to reinforce this installed-base opportunity, with the Government of India reporting that as of May 9, 2025, 7,555 of 8,067 Smart Cities Mission projects worth ₹1,51,361 crore had been completed, while PMAY-Urban and PMAY-Urban 2.0 together had sanctioned 122.50 lakh houses, creating a broad pipeline for both new installations and later modernization demand across urban housing and civic infrastructure. A strong company-level signal comes from Johnson Lifts, which states it holds about 20 percent share of India’s lift industry and has added a new factory at Sengadu with capacity for 6,000 additional units per year while prioritizing infrastructure projects, showing how manufacturers are scaling capacity to capture both installation and retrofit-led growth.

Key Market Challenges

Price Sensitivity and Cost Constraints

Price sensitivity remains a major restraint in India’s elevators and escalators industry because a large share of demand comes from residential developers, mid-market commercial projects, and public infrastructure buyers that operate under tight capital budgets and closely compare upfront equipment cost, installation charges, and long-term maintenance expenses before making procurement decisions. In such a cost-conscious environment, many buyers prioritize lower initial spending over lifecycle value, which can slow the adoption of premium systems with stronger energy efficiency, smarter controls, better ride quality, and higher-end safety features even when those solutions reduce breakdowns and operating costs over time.

This pressure is particularly visible in housing-led projects, where developers must protect affordability targets while still meeting evolving compliance and user expectations, forcing manufacturers to balance localization, simplified product configurations, and service efficiency without eroding quality standards. A strong signal of how broad this cost-sensitive opportunity has become is that the Government of India approved 2.88 lakh additional houses under PMAY-Urban 2.0 in November 2025, while Schindler India says it serves customers across 50 major cities through 14 branch offices, showing why scale, service reach, and competitively priced solutions are critical for winning business in India’s value-driven market. As a result, companies that can combine affordable acquisition costs with dependable maintenance and modernization support are likely to be better positioned than those competing on product price alone.

Regulatory Compliance and Safety Standards

Regulatory compliance and safety standards are becoming a sharper challenge for India’s elevators and escalators industry, because manufacturers, installers, and building owners must now respond to a more unified and demanding compliance framework that affects product design, modernization decisions, inspections, and long-term maintenance practices. The most important shift is the transition to BIS code IS 17900, which industry sources note is expected to be fully implemented by December 2025 and will replace earlier standards such as IS 14665, IS 15785, and IS 14671, effectively raising the baseline for safety, installation consistency, and user protection across the country.

This creates a significant burden for older assets, since many existing lifts will need upgrades to remain compliant with evolving expectations on locking systems, overspeed protection, emergency communication, and accessibility functions, often in buildings where downtime is difficult and retrofit logistics are complex. The challenge also extends to workforce readiness and certification capacity, with KONE stating that its service training program is supported by 24 training centers offering 55 global training courses in 20 languages, while TÜV SÜD became NABCB accredited to certify Indian lift installations for IS 17900 in December 2025, showing that compliance is increasingly tied not just to equipment but also to specialized training and formal third-party validation.

Limited Infrastructure in Smaller Cities and Towns

Limited infrastructure in smaller cities and towns remains a meaningful challenge for India’s elevators and escalators industry, because demand outside major metros is still constrained by lower building heights, slower commercial development, tighter project budgets, and weaker maintenance ecosystems that make vertical mobility investments harder to justify for many property owners and developers. In these markets, the issue is not only fewer installations but also the lack of dependable after-sales support, since elevators and escalators require regular servicing, trained technicians, and timely spare-part availability to operate safely and efficiently over long periods.

That creates a practical barrier for adoption in smaller urban centers where developers may hesitate to install advanced systems if maintenance response times are uncertain or lifecycle costs appear too high relative to expected occupancy and rental yields. The gap is visible in the broader urban infrastructure landscape, with the Government of India stating that AMRUT and AMRUT 2.0 covered 500 selected cities and towns and sanctioned ₹2.73 lakh crore worth of projects, while KONE India says it serves the country with 4,300 plus employees and 40 branches across India and Nepal, showing both the scale of the opportunity and the operational challenge of extending reliable service deep into dispersed secondary markets. As a result, scalable products, denser service networks, and localized technician training will be essential to unlock demand beyond India’s leading metropolitan clusters.

Key Market Trends

Smart and Energy-Efficient Elevators and Escalators

One prominent trend in the India Elevators and Escalators market is the increasing demand for smart and energy-efficient systems. As technology continues to advance, building owners and developers are looking for elevators and escalators that not only transport people vertically but also provide added value in terms of energy savings, convenience, and safety.

Smart elevator and escalator systems are equipped with cutting-edge technology, including destination control systems, IoT-enabled sensors for predictive maintenance, and cloud-based monitoring. Destination control systems optimize the movement of elevators by grouping passengers traveling to similar floors, reducing wait times and energy consumption. Predictive maintenance uses data analytics and sensors to predict and prevent maintenance issues, minimizing downtime and service costs, a feature found in modern systems like KONE's digitally connected DX elevators. Cloud-based monitoring allows real-time tracking and remote management, further enhancing efficiency.​

Energy efficiency is a critical aspect of these systems. With the increasing emphasis on sustainability and environmental responsibility, there is a growing demand for elevators and escalators that consume less energy, aligning with standards for the more than 1,200 projects certified by the Indian Green Building Council (IGBC). Manufacturers are developing energy-efficient models that use regenerative drives, which can save up to 30% of energy, along with LED lighting and standby mode features to conserve power. For instance, machine room-less (MRL) elevators are gaining popularity as they can consume 30–40% less energy compared to traditional hydraulic systems.​

These trends are being driven by both environmental concerns and the desire to reduce operational costs. Building owners and managers understand that investing in smart and energy-efficient elevators and escalators can lead to long-term savings, making these systems an attractive choice for both new constructions and retrofits. In the coming years, we can expect to see a continued focus on technology integration and energy efficiency in the Indian market, with manufacturers striving to meet the demand for intelligent and eco-friendly vertical transportation solutions.

Personalization and Customization of Vertical Transportation

Personalization and customization are becoming a clear trend in India’s elevators and escalators market as residential towers, premium offices, malls, hotels, and mixed-use developments increasingly want vertical transportation systems that reflect the identity, security needs, and user experience goals of each building rather than serving as purely functional assets. Manufacturers are responding by combining design flexibility with digital tools, allowing elevators to deliver tailored interiors, branded interfaces, smoother traffic management, and controlled access for residents, tenants, staff, and visitors across different building formats. This trend is especially relevant in higher-value projects where developers want lifts to support premium positioning through curated materials, lighting, and finishes while also using mobile credentials and destination management to create a more seamless and personalized journey from entrance to floor access.

Schindler’s PORT ecosystem illustrates how personalization is moving beyond aesthetics into intelligent building flow, as the system enables personalized service, mobile-based access, visitor management, and elevator assignment based on user permissions and destination needs, helping buildings strengthen both convenience and security. A strong product-level example comes from Otis India, which says its Ambiance aesthetics package for Gen2 elevators is manufactured at its Bengaluru factory and offers four design themes with two design variants, showing how major suppliers are productizing customization for the Indian market rather than treating it as a bespoke exception.

Segmental Insights

End User Insights

The commercial segment is expected to remain one of the most dynamic areas of the India elevators and escalators market, as expanding office parks, shopping malls, hotels, airports, hospitals, and mixed-use complexes continue to increase the need for reliable vertical transportation systems that can manage dense passenger flows efficiently. This momentum is closely tied to commercial real estate development, where building owners are prioritizing faster movement, better traffic management, stronger accessibility compliance, and premium ride quality to improve tenant experience and support the positioning of modern urban assets.

A clear indicator of this opportunity is CBRE’s finding that India’s office leasing reached a record 82.6 million square feet in 2025, while new office supply rose to 58.9 million square feet across the same year. At the same time, developers increasingly want elevators and escalators that combine visual appeal with destination control, connected monitoring, energy-efficient operation, and dependable after-sales service, because commercial buildings are being judged as much on convenience and sustainability as on location. Manufacturers are responding with solutions tailored for high-traffic workplaces and public-use buildings, and Schindler notes that its commercial elevators and escalators are designed to move passengers safely, quietly, and efficiently during peak periods while its PORT system improves traffic flow and access control.

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Regional Insights

South India is expected to be the dominating region during the forecast period. South India encompasses several major cities, including Bangalore, Chennai, Hyderabad, Kochi, and Coimbatore. These cities are known for their robust economic activities, increasing urbanization, and the development of high-rise buildings, with Hyderabad being the only major city in India with no Floor Space Index (FSI) limit, spurring the construction of towers exceeding 60 stories. These factors create a substantial demand for elevators and escalators in the region.​​

Cities like Bangalore and Hyderabad are prominent IT and industrial hubs, housing numerous tech companies and businesses. The demand for modern office spaces and commercial complexes in these cities has driven the need for advanced elevators and escalators to serve the employees and visitors.​

The government's "Smart Cities Mission" and infrastructure development projects extend to South India, with 29 cities across states like Tamil Nadu, Karnataka, and Andhra Pradesh included in the program. As a result, these cities are witnessing investments in public spaces, transportation hubs, and commercial centers, all of which require efficient vertical transportation systems. Tamil Nadu, in particular, has emerged as a frontrunner in elevator production and is among the top states in utilizing funds for the Smart Cities Mission.​

The residents and businesses in South India often prioritize quality, safety, and technology. They seek elevators and escalators with advanced features, including destination control systems, energy efficiency, IoT connectivity, and customization to enhance user experience and aesthetics. South India, like the rest of the country, is increasingly environmentally conscious. This has led to a demand for energy-efficient elevator and escalator systems that align with sustainability goals.

South India is a vibrant market for the Elevators and Escalators industry, with a burgeoning urban population, economic growth, and a focus on technology and sustainability. Manufacturers and service providers should leverage these opportunities while addressing price sensitivity and navigating a competitive environment to thrive in this dynamic market..

Recent Developments

• In April 2025, Otis India announced a collaboration with Aparna Constructions to supply 178 elevators across five ultra-luxury residential projects in Hyderabad, making it one of the larger residential vertical-mobility deals reported in India that year. In April 2025, the project stood out because Otis said it would deploy high-speed SkyRise, Arise, and Gen2 systems with features such as energy-efficient ReGen drives, quieter cab technology, and LED standby lighting, showing how premium Indian housing projects are increasingly demanding smarter and more sustainable elevator packages.

• In October 2025, Spanish elevator manufacturer MP Lifts signed a strategic partnership with YugX Lifts to enter the Indian market, with YugX set to represent and distribute MP’s full elevator portfolio across the country. In October 2025, the collaboration was positioned as a way to combine European engineering and safety standards with YugX’s local installation and service capabilities, making it a notable cross-border partnership aimed at serving India’s fast-growing residential, commercial, and infrastructure segments.

• In October 2025, Otis India secured another major order, this time from My Home Group, to provide 169 high-speed elevator systems for three luxury residential developments in Hyderabad, including the 234-metre My Home 99 tower. In October 2025, the deal mattered because it expanded a long-running relationship between the two companies and underscored how developers of tall premium towers in India are prioritising next-generation elevator systems engineered for speed, reliability, and premium ride quality.

• In January 2026, KONE announced its entry into India’s villa elevator segment and unveiled the residential-focused product at its manufacturing unit in Sriperumbudur near Chennai. In January 2026, KONE linked the launch to deeper investment in research, development, and innovation in India, with company leadership saying Chennai would continue to be developed as a customer-focused innovation base, which makes the move a clear product-launch development in the home-elevator category.

Key Market Players

• KONE Elevator India Private Limited
• Johnson Lifts India Private Limited
• Schindler India Pvt. Ltd.
• OTIS Elevator Company (India) Ltd.
• ThyssenKrupp Elevator (India) Pvt. Ltd.
• Mitsubishi Elevator India Pvt. Ltd.
• Fujitec India Pvt. Ltd.
• Escon Pvt Ltd.
• Hitachi Lift India Pvt. Ltd.
• Blue Star Elevator Pvt. Ltd. 

Report Scope:

In this report, the India Elevators and Escalators Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• India Elevators and Escalators Market, By Type:

o   Elevator

o   Escalator

o   Moving Walkways    

• India Elevators and Escalators Market, By Elevator Door Type:

o   Automatic

o   Manual  

• India Elevators and Escalators Market, By Elevator Technology:

o   Traction

o   Machine Room-Less Traction

o   Hydraulic    

• India Elevators and Escalators Market, By Service:

o   Modernization and Maintenance & Repair

o   New Installation    

• India Elevators and Escalators Market, By End User:

o   Residential

o   Commercial

o   Infrastructural

o   Institutional

o   Others      

• India Elevators and Escalators Market, By Region:

o   North India

o   South India

o   West India

o   East India      

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Elevators and Escalators Market.

Available Customizations:

India Elevators and Escalators Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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