Subject: MRR
Elevator And Escalator Market Size in India to Grow by USD 522.84 million | ESCON Elevators Pvt Ltd. and Fujitec Co. Ltd. Among Key Vendors | Technavio
NEW YORK, May 16, 2022 /PRNewswire/ -- The elevator and escalator market size in India is estimated to grow by USD 522.84 mn from 2020 to 2025. In addition, the report projects that the market will accelerate at a CAGR of 9% during the forecast period. The growing number of high-speed metro projects is driving the elevator and escalator market growth in India. However, the growth of the market will be challenged by factors such as the high cost of repair and maintenance.
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Elevator and Escalator Market in India: Market Driver and Challenge
The growing number of high-speed metro projects is driving the growth of the elevator and escalator market in India. There has been an increase in investments both by government and private entities on large-scale metro projects in India, especially in tier-1 and tier-2 cities. Rapid urbanization has resulted in the scarcity of efficient transport systems. Real estate investments in the vicinity of metro rail stations will also create a demand for elevators and escalators in India during the forecast period
The high cost of repair and maintenance will challenge the elevator and escalator market in India during the forecast period. New installations of elevators and escalators have an average shelf life of 20-30 years. However, they require continuous maintenance and monitoring. Some of the major issues associated with elevators and escalators are the machines getting stuck, the call box not working, odd noises, and jumpy or bumpy rides. These issues need continuous maintenance and monitoring of elevators and escalators and often require several component replacements. Hence, due to the high repair, replacement, and maintenance costs, most property owners may be hesitant to modernize their lifts and escalators. These factors can challenge the growth of the market during the forecast period
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Elevator And Escalator Market In India: Key Vendors and their Offerings
Some of the major vendors operating in the elevator and escalator market in India include ESCON Elevators Pvt Ltd., Fujitec Co. Ltd., Hitachi Ltd., Johnson Lifts Pvt. Ltd., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Schindler Holding Ltd., thyssenkrupp AG, and Toshiba Corp. among others. The key offerings of some of these vendors are listed below:
- ESCON Elevators Pvt Ltd. - The company offers mobility and parking solutions from manufacturing and installing to servicing and modernizing elevators, escalators, and moving walks.
- Fujitec Co. Ltd. - The company offers research and development, manufacture, marketing, installation, and maintenance of elevators, escalators, moving walks, new transportation systems, and others.
- Hitachi Ltd. - The company offers elevators and escalators capable of flexibly responding to diversifying applications and designs of buildings.
- Johnson Lifts Pvt. Ltd. - The company offers High Speed, Green-Energy Efficient, Technology Compatible Lifts and Escalators having a presence in every segment of the Infrastructure Industry.
- KONE Corp. - The company offers elevators, escalators, and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle.
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Elevator And Escalator Market In India: Segmentation Analysis
- Product
- Elevator
- Escalator
- End-user
- Residential
- Non-residential.
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Elevator and Escalator Market Scope in India | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 9% |
Market growth 2021-2025 | USD 522.84 million |
Market structure | Fragmented |
YoY growth (%) | 8.10 |
Regional analysis | India |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | ESCON Elevators Pvt Ltd., Fujitec Co. Ltd., Hitachi Ltd., Johnson Lifts Pvt. Ltd., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., Schindler Holding Ltd., thyssenkrupp AG, and Toshiba Corp. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Elevator - Market size and forecast 2020-2025
- Escalator - Market size and forecast 2020-2025
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Residential - Market size and forecast 2020-2025
- Non-residential - Market size and forecast 2020-2025
- Market opportunity by End user
Customer Landscape
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ESCON Elevators Pvt Ltd.
- Fujitec Co. Ltd.
- Hitachi Ltd.
- Johnson Lifts Pvt. Ltd.
- KONE Corp.
- Mitsubishi Electric Corp.
- Otis Worldwide Corp.
- Schindler Holding Ltd.
- thyssenkrupp AG
- Toshiba Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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