India Elevators Market [2018-2028] Analysis by Growth, Share, Demands, Forecast

Summary

Report Description

India Elevators Market was valued at USD 1466.28 million in FY2022 and is anticipated to project robust growth during the forecast period at a CAGR of 5.82% owing to the high pace of industrialization and increasing construction of skyscrapers etc.

A building's elevator or lift is a device put there to carry, lift, transport, or move people and things from one floor to another. A passenger or item can be transported from one level to another via an elevator in a variety of environments, including residential communities, commercial buildings, malls, hospitals, etc. Elevators can also be used in industrial settings such as factories to move equipment, supplies, and finished goods between levels.

Increasing Demand for MRL (Machine Room Less) Elevators
The benefits of machine room-free elevators include improved energy efficiency, lighter weight and more design options, best use of hoist-way space, etc. The demand for high-speed traction elevators is skyrocketing as there are more and more high-rise office and residential buildings around the nation. For unique customer needs, market participants are launching high-speed, ultra-high-speed, and machine room-less elevators to meet the expanding market demand.

High-Rise Buildings Using UltraRope Technology
The elevator can travel up to a height of around 1,000 meters thanks to the ultra-lightweight hoisting technology known as UltraRope. The demand for UltraRope is rising along with the number of high-rise office and residential structures. For instance, KONE UltraRope gets rid of the drawbacks of current steel ropes such as excessive energy consumption, rope stretch, big moving masses, and downtime brought on by building wobble. As it is made of a carbon fiber core and a special high-friction coating, the KONE UltraRope is incredibly light. This results in an 11% reduction in elevator energy usage.

Energy-saving Regenerative Drives are a New Innovation in Elevator Technology
The usage of equipment with improved energy efficiency is urgently required. Solar-powered elevators have been created by businesses such as Schindler, which save a large amount of energy while drawing power straight from the sun. Due to decreased operating costs and lesser wear and tear, these regenerative drives and eco-efficient solutions also guarantee an extended equipment life.

Download Free Sample Report

Market Segmentation
The India Elevators Market is segmented based on type of carriage, type of machinery, type of elevator door, weight, end user, region, and company. Based on the type of carriage, the market is further fragmented into passenger, freight & others. Based on the type of machinery, the market is segmented into traction & hydraulic. Based on the type of elevator door, the market is segmented into automatic & manual. Based on weight, the market is segmented into up to 350 Kg, up to 550 Kg, up to 750 Kg, up to 1150 Kg & more than 1150 Kg. Based on end user, the market is further segmented into residential, commercial, industrial & government institution. The market analysis also studies the regional segmentation, divided among North, South, East, and West.

Company Profiles
KONE Elevator India Private Limited, Johnson Lifts India Private Limited, Schindler India Pvt. Ltd, OTIS Elevator Company (India) Ltd, TK Elevator India Private Limited, Mitsubishi Elevator India Pvt. Ltd, Fujitec India Pvt. Ltd, Escon Pvt. Ltd, Hitachi Lift India Pvt. Ltd, Blue Star Elevator Pvt. Ltd, Express Lift Ltd, Omega Elevators, Eros Elevators Pvt. Ltd. are among the major market players in the India platform that lead the market growth of the India elevators market.

Attribute	Details
Market size value in 2022	USD 1,466.28 million
Revenue Forecast in 2028	USD 2,083.91 million
Growth Rate	5.82%
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in (USD million), and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	· Type of Carriage · Type of Machinery · Type of Elevator Door · Weight · End User
Regional Scope	North, South, East & West.
Key Companies Profiled	KONE Elevator India Private Limited, Johnson Lifts India Private Limited, Schindler India Pvt. Ltd, OTIS Elevator Company (India) Ltd, TK Elevator India Private Limited, Mitsubishi Elevator India Pvt. Ltd, Fujitec India Pvt. Ltd, Escon Pvt Ltd, Hitachi Lift India Pvt. Ltd, Blue Star Elevator Pvt. Ltd, Express Lift Ltd, Omega Elevators, Eros Elevators Pvt. Ltd, Orbis Elevators Co Ltd, Supreme Elevators & Company.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, India elevators market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

· India Elevators Market, By Type of Carriage:

o Passenger

o Freight

o Others

· India Elevators Market, By Type of Machinery:

o Traction

o Hydraulic

· India Elevators Market, By Type of Elevator Door:

o Automatic

o Manual

· India Elevators Market, By Weight:

o Up to 550kg

o Up to 350kg

o Up to 750kg

o Up to 1150kg

o More than 1150kg

· India Elevators Market, By End User

o Residential

o Commercial

o Industrial

o Government Institution

· India Elevators Market, By Region:

o South

o West

o North

o East

Competitive Landscape

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

Available Customizations:

With the given market data, TechSci 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).

Table of content

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer

4.1. Brand Awareness

4.2. Duration of Usage

4.3. Factors Influencing Purchase Decision

4.4. User Satisfaction

4.5. Elevator Usage Challenges

4.6. Annual Maintenance Contract (AMC) Expectation

4.7. Annual Maintenance Contract (AMC) Challenges

5. Global Elevators Market Overview

6. India Elevators Market Landscape

7. India Elevators Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.1.2. By Volume

7.1.3. By New Installation

7.1.4. By Maintenance Service

7.2. Market Share & Forecast

7.2.1. By Type of Carriage (Passenger, Freight & Others)

7.2.2. By Type of Machinery (Traction & Hydraulic)

7.2.3. By Type of Elevator Door (Automatic & Manual)

7.2.4. By Weight (Up to 350Kg, Up to 550Kg, Up to 750Kg, Up to 1150Kg & More than 1150Kg)

7.2.5. By End User (Residential, Commercial, Industrial & Government Institution), By Value

7.2.6. By End User (Residential, Commercial, Industrial & Government Institution), By Volume

7.2.7. By Region

7.2.8. By Cities

7.2.9. By Cities

7.3. Product Market Map

7.4. Import-Export Analysis

8. India Residential Elevators Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.1.2. By Volume

8.2. Market Share & Forecast

8.2.1. By Type of Machinery

8.2.2. By Type of Elevator Door

8.2.3. By Weight

8.2.4. By Region

9. India Commercial Elevators Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.1.2. By Volume

9.2. Market Share & Forecast

9.2.1. By Type of Machinery

9.2.2. By Type of Elevator Door

9.2.3. By Weight

9.2.4. By Region

10. India Industrial Elevators Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.1.2. By Volume

10.2. Market Share & Forecast

10.2.1. By Type of Machinery

10.2.2. By Type of Elevator Door

10.2.3. By Weight

10.2.4. By Region

11. India Government Institution Elevators Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.1.2. By Volume

11.2. Market Share & Forecast

11.2.1. By Type of Machinery

11.2.2. By Type of Elevator Door

11.2.3. By Weight

11.2.4. By Region

12. India Escalators Market Outlook

12.1. Market Size & Forecast

12.1.1. By Value

12.1.2. By Volume

12.2. Market Share & Forecast

12.2.1. By Type of Machinery

12.2.2. By Type of Elevator Door

12.2.3. By Weight

12.2.4. By Region

13. India Elevators and Escalators Annual Maintenance Contract (AMC) Market Outlook

13.1. Market Size & Forecast

13.1.1. By Value

13.2. Market Share & Forecast

13.2.1. By Region

13.3. Pricing Analysis

14. Market Dynamics

14.1. Impact Analysis

14.2. Drivers

14.3. Challenges

15. Market Trends and Developments

16. Policy and Regulatory Framework

17. Impact of COVID-19 on India Elevators and Escalators Market

18. India Economic Profile

19. Competitive Landscape

19.1. Competitive Benchmarking

19.2. Business Models & Strategies

19.3. Company Profile

19.3.1. KONE Elevator India Private Limited

19.3.2. Johnson Lifts India Private Limited

19.3.3. Schindler India Pvt. Ltd.

19.3.4. OTIS Elevator Company (India) Ltd.

19.3.5. TK Elevator India Private Limited

19.3.6. Mitsubishi Elevator India Pvt. Ltd.

19.3.7. Fujitec India Pvt. Ltd.

19.3.8. Escon Pvt Ltd.

19.3.9. Hitachi Lift India Pvt. Ltd.

19.3.10. Blue Star Elevator Pvt. Ltd.

19.3.11. Express Lift Ltd.

19.3.12. Omega Elevators

19.3.13. Eros Elevators Pvt. Ltd.

19.3.14. Orbis Elevators Co Ltd.

19.3.15. Supreme Elevators & Company

20. Strategic Recommendations

21. About Us & Disclaimer

Figures and Tables

List of Figures

Figure 1: India Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 2: India Elevators Market Size, By Volume (Units), 2018-2028F

Figure 3: India New Installations of Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 4: India Maintenance Services of Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 5: India Elevators Market Share, By Type of Carriage, By Value, 2018-2028F

Figure 6: India Elevators Market Share, By Type of Machinery, By Value, 2018-2028F

Figure 7: India Elevators Market Share, By Type of Elevator Door, By Value, 2018-2028F

Figure 8: India Elevators Market Share, By Weight, By Value, 2018-2028F

Figure 9: India Elevators Market Share, By End User, By Value, 2018-2028F

Figure 10: India Elevators Market Share, By End User, By Volume, 2018-2028F

Figure 11: India Elevators Market Share, By Region, By Value, 2018-2028F

Figure 12: India Elevators Market Share, By City, By Value, 2018-2028F

Figure 13: India Elevators Market Share, By Company, By Value, 2022

Figure 14: India Elevators Market Map, By Type of Carriage, Market Size (USD Million) & Growth Rate (%)

Figure 15: India Elevators Market Map, By Type of Machinery, Market Size (USD Million) & Growth Rate (%)

Figure 16: India Elevators Market Map, By Type of Elevator Door, Market Size (USD Million) & Growth Rate (%)

Figure 17: India Elevators Market Map, By Weight, Market Size (USD Million) & Growth Rate (%)

Figure 18: India Elevators Market Map, By End User, Market Size (USD Million) & Growth Rate (%)

Figure 19: India Elevators Market Map, By Region, Market Size (USD Million) & Growth Rate (%)

Figure 20: India Lifts and Skip Hoists Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842810)

Figure 21: India Lifts and Skip Hoists Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842810)

Figure 22: India Pneumatic Elevators and Conveyors Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842820)

Figure 23: India Pneumatic Elevators and Conveyors Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842820)

Figure 24: India Continuous-Action Elevators and Conveyers Specially Designed for Underground Use for Goods/Materials Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842831)

Figure 25: India Continuous-Action Elevators and Conveyers Specially Designed for Underground Use for Goods/Materials Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842831)

Figure 26: India Other Continuous Action Elevators and Conveyers for Goods/Materials, Belt Type Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842833)

Figure 27: India Other Continuous Action Elevators and Conveyers for Goods/Materials, Belt Type Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842833)

Figure 28: India Other Continuous-Action Elevators and Conveyers for Goods Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842839)

Figure 29: India Other Continuous-Action Elevators and Conveyers for Goods Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842839)

Figure 30: India Residential Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 31: India Residential Elevators Market Size, By Volume (Units), 2018-2028F

Figure 32: India Residential Elevators Market Share, By Type of Machinery, By Value, 2018-2028F

Figure 33: India Residential Elevators Market Share, By Type of Elevator Door, By Value, 2018-2028F

Figure 34: India Residential Elevators Market Share, By Weight, By Value, 2018-2028F

Figure 35: India Residential Elevators Market Share, By Region, By Value, 2018-2028F

Figure 36: India Commercial Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 37: India Commercial Elevators Market Size, By Volume (Units), 2018-2028F

Figure 38: India Commercial Elevators Market Share, By Type of Machinery, By Value, 2018-2028F

Figure 39: India Commercial Elevators Market Share, By Type of Elevator Door, By Value, 2018-2028F

Figure 40: India Commercial Elevators Market Share, By Weight, By Value, 2018-2028F

Figure 41: India Commercial Elevators Market Share, By Region, By Value, 2018-2028F

Figure 42: India Industrial Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 43: India Industrial Elevators Market Size, By Volume (Units), 2018-2028F

Figure 44: India Industrial Elevators Market Share, By Type of Machinery, By Value, 2018-2028F

Figure 45: India Industrial Elevators Market Share, By Type of Elevator Door, By Value, 2018-2028F

Figure 46: India Industrial Elevators Market Share, By Weight, By Value, 2018-2028F

Figure 47: India Industrial Elevators Market Share, By Region, By Value, 2018-2028F

Figure 48: India Government Institution Elevators Market Size, By Value (USD Million), 2018-2028F

Figure 49: India Government Institution Elevators Market Size, By Volume (Units), 2018-2028F

Figure 50: India Government Institution Elevators Market Share, By Type of Machinery, By Value, 2018-2028F

Figure 51: India Government Institution Elevators Market Share, By Type of Elevator Door, By Value, 2018-2028F

Figure 52: India Government Institution Elevators Market Share, By Weight, By Value, 2018-2028F

Figure 53: India Government Institution Elevators Market Share, By Region, By Value, 2018-2028F

Figure 54: India Escalators Market Size, By Value (USD Million), 2018-2028F

Figure 55: India Escalators Market Size, By Volume (Units), 2018-2028F

Figure 56: India Escalators Market Share, By End User, By Value, 2018-2028F

Figure 57: India Escalators Market Share, By Region, By Value, 2018-2028F

Figure 58: India Escalators and Moving Walkways Import Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842840)

Figure 59: India Escalators and Moving Walkways Export Scenario, By Value (USD Million) & By Volume (Thousand Units), 2018-2023 (HS Code: 842840)

Figure 60: India Elevators Annual Maintenance Contract (AMC) Market Size, By Value (USD Million), 2018-2028F

Figure 61: India Elevators Annual Maintenance Contract (AMC) Market Share, By Region, By Value, 2018-2028F

Figure 62: India Elevators and Escalators Annual Maintenance Contract Average Selling Price (ASP), By Value, 2018-2028F

Frequently asked questions

What was the market size of India Elevators in 2022?

The market size of India Elevators was estimated to be USD 1466.28 million in 2022

Which was the dominant segment by the end user in the India Elevators Market in 2022?

In FY2022, the residential end user segment in the India Elevator Market had a market share of USD 847.80 million and is expected to register a CAGR of 6.32% to USD 1240.18 million over the following five years. The National Infrastructure Pipeline (NIP) was started by the Indian government to design, build, and maintain public infrastructure, with a total funding commitment of USD 1.4 trillion by 2024–2025. In addition, it includes 6,835 projects related to the housing, transportation, and energy sectors.

Which is the dominant segment, by machinery in the India Elevators Market in 2022?

With a market share of 94.67% in FY2022, the traction machinery category dominates the elevators market in India. This is a result of the growing environmental worries around hydraulic machine elevators.

What are the major drivers for the India Elevators Market?

Growth in the real-estate sector, increasing construction of skyscrapers, high pace of industrialization and growing urbanization in India are the major drivers for the India Elevators Market.

Related Reports

Srishti Verma

Business Consultant

Talk To Analyst

Press Release

India Elevators Market to Reach USD 2083 Million by FY2028

Nov, 2022

Rising infrastructure development and an increasing number of commercial & residential buildings are driving the growth of the India elevators Market in India during the forecast period.

Buy Now