DUBLIN–(BUSINESS WIRE)–The “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, By End User, By Region, By Company, Competition, Forecast & Opportunities, FY2027F” report has been added to ResearchAndMarkets.com’s offering.
The Indian Elevators Market stood at USD 1351.53 million in FY2021 and is forecast to grow at a CAGR of 5.22% until FY2027, owing to the increasing urbanization, augmented government support, and entrance of foreign players in the market.
Moreover, with the growing number of high-rise commercial and residential buildings across the country, the need for high-speed traction elevators is increasing tremendously, which in turn is pushing product demand over the coming years.
The Indian Elevators Market can be segmented based on the Type of Carriage, Type of Machinery, Type of Elevator Door, Weight, End-User, Region and Company. Based on Type of Carriage, the market can be segmented into Passenger, Freight and Others. Passenger type of carriage is expected to lead the market as these types of lifts are specifically designed to give the passengers a sense of comfort and spaciousness and moreover are highly recommended when it comes to installation in residential and commercial areas.
Based on Type of Machinery, the market can be segmented into Traction and Hydraulic. The market is anticipated to be dominated by the traction sector in the study period owing to their high energy efficiency and faster speed in comparison to hydraulic type of machinery.
Based on Type of Elevator Door the market can be bifurcated into Automatic and Manual. The automatic segment dominates the market and will continue its dominance in the forecast period as well due to high durability and retentive functional life of elevators with automatic doors.
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, and More than 1150 kg. Up to 550 segment is expected to lead the market in the forecast period because they are highly preferred in residential and commercial sectors and can carry a decent number of passengers, hence saving time.
Based on end-user, the market can be apportioned into Residential, Commercial, Industrial and Government Institution. Residential segment is expected to dominate the market in the forecast period as more property owners have started to consider seriously the aesthetical value of their buildings’ elevators in order to ensure that they make the best first impression on visitors and clients.
The companies operating in the market are focusing on expansion and mergers & collaborations to increase their share in the market.
Some of the players in the Indian Elevators Market include
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 Express Lift Ltd Omega Elevators Eros Elevators Pvt Ltd Orbis Elevators Co Ltd Supreme Elevators & Company Report Scope:
Years considered for this report:
Historical Years: FY2017-FY2020 Base Year: FY2021 Estimated Year: FY2022E Forecast Period: FY2023F-FY2027F India Elevators Market, By Type of Carriage:
Passenger Freight Others India Elevators Market, By Type of Machinery:
Traction Hydraulic India Elevators Market, By Type of Elevators Door:
Automatic Manual India Elevators Market, By Weight:
Up to 350 kg Up to 550 kg Up to 750 kg Up to 1150 kg More than 1150 kg India Elevators Market, End-User:
Residential Commercial Industrial Government Institution India Elevators Market, By Region:
South West North East India Elevators Market, By Cities:
Mumbai Bangalore Hyderabad Noida Chennai Gurgaon Delhi Navi Mumbai Pune Ahmedabad Thane Kolkata Other Cities Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Elevators Market Overview
6. India Elevators Market Landscape
7. India Elevators Market Outlook
8. India Residential Elevators Market Outlook
9. India Commercial Elevators Market Outlook
10. India Industrial Elevators Market Outlook
11. India Government Institution Elevators Market Outlook
12. India Escalators Market Outlook
13. India Elevators and Escalators Annual Maintenance Contract (AMC) Market Outlook
14. Market Dynamics
15. Market Trends & Developments
16. Policy & Regulatory Framework
17. Impact of COVID-19 on India Elevators & Escalators Market
18. India Economic Profile
19. Competitive Landscape
20. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/qch8kc