The robust growth in residential projects as well as commercial office spaces over the last decade has been the key drivers for the elevators market in India. In 2012, residential and commercial sectors accounted for a whopping 80% share in the India’s elevators market. In addition, High-speed and smart elevators which until now have been underperforming the broader elevator market are the emerging trends in the Indian elevators market.
According to “India Elevators Market Forecast & Opportunities, 2019”
residential sector accounts for the highest revenue share in the elevators market in India. However, with growing safety concerns, technological advancements and increasing number of high rise buildings, the elevator market in the country has been growing in commercial, hospitality and retail sectors as well.
During the forecast period, declining prices, increasing energy efficiency and speed, and enhanced security features of elevators are expected to surge the elevator demand in the country at a CAGR of 12% during 2014-19. The leading elevators manufacturers operating in India include Otis India Private Ltd., Kone Elevators India Private Ltd., Johnson Lifts India Private Ltd. and Schindler India Private Ltd. “India Elevators Market Forecast & Opportunities, 2019”
discusses the following aspects of elevators market in India:
Why You Should Buy This Report?
- India Elevators Market Size, Share & Forecast
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- To gain an in-depth understanding of elevators market in India
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The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with elevator manufacturers, channel partners and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.