India Elevators Market to Reach USD1838.90 Million until FY2027
Increasing urbanization, growing
demand for high rise buildings, development in the
transportation and infrastructure sector and augmented government support to drive India Elevators
market through FY2027.
According to TechSci Research report, “India Elevators
Market
By Type of Carriage (Passenger, Freight
and Others), By Type of Machinery (Traction and Hydraulic), By Type of Elevator
Door (Automatic and Manual), By Weight (Up to 350 kg, Up to 550 kg, Up to
750kg, Up to 1150 kg, More than 1150 kg), By End User (Residential, Commercial,
Industrial, Government Institution), By Region, Competition, Forecast &
Opportunities, FY2027F”, India Elevators
market was valued at USD1351.53 million
in FY2021 and is projected to grow at a CAGR of 5.22% during the
forecast period, which can be majorly attributed to the development in the
transportation and infrastructure sector. The growth of the Elevators market can
be attributed to the growing number of high-speed metro projects. Moreover, strategic
focus of government in reviving the construction sector with projects such as
Smart Cities Mission and Atal
Mission for Rejuvenation and Urban Transformation (AMRUT) is further bolstering
the growth of the India Elevators market.
In terms of Type of Carriage, the India Elevators market is categorized into Passenger, Freight
and Others. Among these, the Passenger category accounted for highest market
share in the India Elevators Market in FY2021 and it is anticipated to
remain as the dominating category throughout the forecast period as well. The
growth of the category is majorly attributed to the fact that these elevators
are specifically designed for passenger
carrier and have additional facilities including loudspeakers to play
music or announcements, audio or visual advertising, or television displays.
Browse over 67 market data Figures spread through 158 Pages and an in-depth TOC on "India
Elevators Market"
https://www.techsciresearch.com/report/india-elevators-market/7564.html
Based on the Type of Machinery
the market can be segmented into Traction and Hydraulic. The market is
dominated by the Traction sector and is expected to continue to do so in the
forecast period as well, owing to the energy efficiency and comparatively
faster speed of these elevator types over hydraulic types.
Based on Type of Elevator
Door the market can be split into Automatic and Manual. The Automatic sub
segment is the dominating and is expected to lead the market in future as well due
to their tough construction, longer functional life, regular performance
corrosion resistance and suitability for installation in indoor and outdoor,
offices, buildings, stores, and exhibition halls.
Based on Weight holding
capacity the market can be segmented into Up to 350 kg, Up to 550 kg, Up to 750
kg, Up to 1150 kg, More than 1150 kg. The Up
to 750 segment is the fastest growing and is expected to drive the market because
they are highly preferred in residential and commercial sectors.
Based on End User the market
can be apportioned into Residential, Commercial, Industrial and the Residential
segment is expected to lead the market due to increasing construction of
high-rise residential buildings
Based on Region the South
region is the dominating region and is expected to remain dominant in the
forecast period too, owing to the increasing investment in the construction
sector and rising urbanization and infrastructure development. Also, South
India has continued to maintain its momentum in real estate, strengthening and
building itself as one of the most sought-after destinations in the country for
homebuyers and NRIs, thereby indirectly contributing to the increased demand
for elevators.
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. and others are
some of the leading players operating in India Elevators market. The companies
operating in the market are using organic strategies such as product launches
and inorganic strategies such as mergers and collaborations to boost their
share.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7564
Customers can also
request for 10% free customization on this report.
“India
Elevators market is anticipated to grow at a steady pace during the forecast
period. However, the market witnessed a downfall in FY2021 due to the COVID-19
pandemic. However, the increasing government support, along with the growing
construction sector, urbanization, increasing construction activities of
high-rise residential buildings, and new commercial centers are anticipated to
propel the demand for elevators across the country over the next five years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India Elevators Market By Type of
Carriage (Passenger, Freight and
Others), By Type of Machinery (Traction and Hydraulic), By Type of
Elevator Door (Automatic and Manual), By Weight (Up to 350 kg, Up to 550 kg, Up
to 750kg, Up to 1150 kg, More than 1150 kg), By End User (Residential,
Commercial, Industrial, Government Institution), By Region, Competition,
Forecast & Opportunities, FY2027F” has
evaluated the future growth potential of India Elevators Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in India
Elevators market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web:
https://www.techsciresearch.com/