LONDON--(BUSINESS WIRE)--The elevator and escalator market in India is poised to grow by USD 659.2 million during 2020-2024, progressing at a CAGR of over 9% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Elevator and Escalator Market in India Analysis Report by Product (Elevator and Escalator), End-user (Residential and Non-residential), and the Segment Forecasts, 2020-2024".
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The market is driven by the growing number of high-speed metro projects. In addition, the rising number of office spaces and commercial establishments is anticipated to boost the growth of the elevator and escalator market in India.
Urban areas are witnessing a scarcity of efficient transport systems due to large scale migration of people from towns and rural areas and rapid rise in urbanization. The government of India and private organizations are increasingly making investments to provide an effective transport system to consumers. This is encouraging them to initiate large-scale metro projects, especially in tier-1 and tier-2 cities. The population of Delhi extensively depends on metro rail as their prominent transportation source. The construction of new metro stations in cities is leading to an increase in the demand for elevators and escalators. Thus, the growing number of high-speed metro projects is expected to drive market growth during the forecast period.
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Major Five Elevator and Escalator Market in India Companies:
ESCON Elevators Pvt. Ltd.
ESCON Elevators Pvt. Ltd. operates the business under various segments such as Products, Services, and Modernization. The company offers a range of elevators for commercial, industrial, and residential use. It also provides auto walks for big stations or airports.
Fujitec Co. Ltd.
Fujitec Co. Ltd. offers products through the following business units: Japan, North America, Europe, South Asia, and East Asia. The company caters to the rising demand from hospital, airport, offices, hotels, apartments, and stations by offering ZEXIA and REXIA elevators.
Hitachi Ltd.
Hitachi Ltd. operates under various business segments, namely Information & Telecommunication Systems, Social Infrastructure & Industrial Systems, Construction Machinery, High Functional Materials & Components, and Other. The company offers Elevators and Escalators.
Johnson Lifts Pvt. Ltd.
Johnson Lifts Pvt. Ltd. offers products through the following business segments: Elevators and Escalators. The company’s product portfolio includes specialty elevators, gearless motor series elevators, machine room less elevators, and geared elevators. The company also provides travellators and heavy-duty escalators.
KONE Corp.
KONE Corp. offers products through the following business segments: New equipment and Services. The company offers elevators such as KONE U MonoSpace, KONE A MonoSpace, KONE I MonoSpace, KONE U MiniSpace, and KONE A MiniSpace.
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Elevator and Escalator Market in India Product Outlook (Revenue, USD Million, 2020-2024)
- Elevator
- Escalator
Elevator and Escalator Market in India End-user Outlook (Revenue, USD Million, 2020-2024)
- Residential
- Non-residential
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