NEW YORK, June 2, 2023 /PRNewswire/ -- The elevator and escalator market size in India is forecast to increase by USD 784.24 million from 2022 to 2027, at a CAGR of 8.9%, according to the recent market study by Technavio. The growth of the market will be driven by the growing number of high-speed metro projects, rising disposable income and economic growth, and growing number of office spaces and commercial establishments.

Technavio categorizes the global elevator and escalator market in India as a part of the global industrial machinery market. The report extensively covers market segmentation by product (elevator and escalator) and end-user (residential and non-residential).

Charts & data tables about market and segment sizes for a historic period of five (2017-
2021) years have been covered in this report. Download Sample Report

Technavio has extensively analyzed 15 major vendors, including Beacon Elevator Co. Pvt. Ltd., Blue Star Elevators India Ltd., City lift India Ltd., Easa Elevators Pvt. Ltd., ESCON Elevators Pvt. Ltd., Express Lifts Ltd., Fujitec Co. Ltd., Grj Elevator Pvt. Ltd., Hitachi Ltd., Johnson Lifts Pvt. Ltd., Kinetic Hyundai Elevator and Movement Technologies Ltd., KONE Corp., Mitsubishi Electric Corp., Otis Worldwide Corp., RP Bidyut Elevator, Schindler Holding Ltd., SEPL India Ltd., thyssenkrupp AG, Toshiba Corp., and TRIO Elevators Co. India Pvt. Ltd.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by Product (Elevator and Escalator) and End-user (Residential and Non-residential)

Segmentation by Product

During the forecast period, the elevator segment will contribute significantly to market growth. In the past, commercial buildings in India would install a typical set of elevators. However, a number of vendors, including Schindler Holding Ltd., thyssenkrupp AG (thyssenkrupp), and KONE have showcased a detailed technical advancement. Schindler has started to offer cutting-edge elevator designs that are not only more affordable but also more energy-efficient.
The amount of vertical housing has increased in India as a result of the country's expanding population. In many Indian cities, population densities are rising as a result of rapid urbanization, which also contributed to this development. These skyscrapers need elevators to allow occupants to travel between floors. It is challenging for people to use stairs to travel between floors in structures with four or more stories. The movement of people and goods is made easier in these structures by the use of elevators. During the anticipated period, these factors will hasten market expansion.

Segmentation by End-user

The end-user segment will be dominated by the residential sector. The need for elevators and escalators in the residential sector will be directly impacted by factors like the nation's aging population and its growth. The need for and use of elevators in the residential sector has also grown as a result of the shift from small, one-story houses to multi-story high-rise structures. The demand for elevators and escalators in the residential segment of the elevator and escalator market in India is anticipated to be driven by such construction activities during the forecast period.

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What are the key data covered in this Elevator And Escalator Market Report In India?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Elevator And Escalator Market In India between 2023 and 2027
• Precise estimation of the size of the Elevator And Escalator Market size In India and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Elevator And Escalator Market across India
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Elevator And Escalator Market vendors In India

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Table of Contents 

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 11: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 12: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Elevator and escalator market in India 2017 - 2021
• Exhibit 15: Historic Market Size – Data Table on Elevator and escalator market in India 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021
• Exhibit 16: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021
• Exhibit 17: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 25: Chart on Product - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 6.3 Elevator - Market size and forecast 2022-2027
• Exhibit 29: Chart on Elevator - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Elevator - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Elevator - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Elevator - Year-over-year growth 2022-2027 (%)

• 6.4 Escalator - Market size and forecast 2022-2027
• Exhibit 33: Chart on Escalator - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Escalator - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Escalator - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Escalator - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 37: Market opportunity by Product ($ million)
• Exhibit 38: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 39: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 40: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 41: Chart on Comparison by End-user
• Exhibit 42: Data Table on Comparison by End-user

• 7.3 Residential - Market size and forecast 2022-2027
• Exhibit 43: Chart on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 45: Chart on Residential - Year-over-year growth 2022-2027 (%)
• Exhibit 46: Data Table on Residential - Year-over-year growth 2022-2027 (%)

• 7.4 Non-residential - Market size and forecast 2022-2027
• Exhibit 47: Chart on Non-residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Non-residential - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Non-residential - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Non-residential - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 51: Market opportunity by End-user ($ million)
• Exhibit 52: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 53: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Impact of drivers and challenges 
• Exhibit 54: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 
• Exhibit 55: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 56: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 57: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 58: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 59: Matrix on vendor position and classification

• 11.3 Beacon Elevator Co. Pvt. Ltd. 
• Exhibit 60: Beacon Elevator Co. Pvt. Ltd. - Overview
• Exhibit 61: Beacon Elevator Co. Pvt. Ltd. - Product / Service
• Exhibit 62: Beacon Elevator Co. Pvt. Ltd. - Key offerings

• 11.4 Blue Star Elevators India Ltd. 
• Exhibit 63: Blue Star Elevators India Ltd. - Overview
• Exhibit 64: Blue Star Elevators India Ltd. - Product / Service
• Exhibit 65: Blue Star Elevators India Ltd. - Key offerings

• 11.5 City lift India Ltd. 
• Exhibit 66: City lift India Ltd. - Overview
• Exhibit 67: City lift India Ltd. - Product / Service
• Exhibit 68: City lift India Ltd. - Key offerings

• 11.6 Easa Elevators Pvt. Ltd. 
• Exhibit 69: Easa Elevators Pvt. Ltd. - Overview
• Exhibit 70: Easa Elevators Pvt. Ltd. - Product / Service
• Exhibit 71: Easa Elevators Pvt. Ltd. - Key offerings

• 11.7 ESCON Elevators Pvt. Ltd. 
• Exhibit 72: ESCON Elevators Pvt. Ltd. - Overview
• Exhibit 73: ESCON Elevators Pvt. Ltd. - Product / Service
• Exhibit 74: ESCON Elevators Pvt. Ltd. - Key offerings

• 11.8 Express Lifts Ltd. 
• Exhibit 75: Express Lifts Ltd. - Overview
• Exhibit 76: Express Lifts Ltd. - Product / Service
• Exhibit 77: Express Lifts Ltd. - Key offerings

• 11.9 Fujitec Co. Ltd. 
• Exhibit 78: Fujitec Co. Ltd. - Overview
• Exhibit 79: Fujitec Co. Ltd. - Business segments
• Exhibit 80: Fujitec Co. Ltd. - Key offerings
• Exhibit 81: Fujitec Co. Ltd. - Segment focus

• 11.10 Hitachi Ltd. 
• Exhibit 82: Hitachi Ltd. - Overview
• Exhibit 83: Hitachi Ltd. - Business segments
• Exhibit 84: Hitachi Ltd. - Key news
• Exhibit 85: Hitachi Ltd. - Key offerings
• Exhibit 86: Hitachi Ltd. - Segment focus

• 11.11 Johnson Lifts Pvt. Ltd. 
• Exhibit 87: Johnson Lifts Pvt. Ltd. - Overview
• Exhibit 88: Johnson Lifts Pvt. Ltd. - Product / Service
• Exhibit 89: Johnson Lifts Pvt. Ltd. - Key offerings

• 11.12 KONE Corp. 
• Exhibit 90: KONE Corp. - Overview
• Exhibit 91: KONE Corp. - Product / Service
• Exhibit 92: KONE Corp. - Key news
• Exhibit 93: KONE Corp. - Key offerings

• 11.13 Mitsubishi Electric Corp. 
• Exhibit 94: Mitsubishi Electric Corp. - Overview
• Exhibit 95: Mitsubishi Electric Corp. - Business segments
• Exhibit 96: Mitsubishi Electric Corp. - Key news
• Exhibit 97: Mitsubishi Electric Corp. - Key offerings
• Exhibit 98: Mitsubishi Electric Corp. - Segment focus

• 11.14 Otis Worldwide Corp. 
• Exhibit 99: Otis Worldwide Corp. - Overview
• Exhibit 100: Otis Worldwide Corp. - Business segments
• Exhibit 101: Otis Worldwide Corp. - Key news
• Exhibit 102: Otis Worldwide Corp. - Key offerings
• Exhibit 103: Otis Worldwide Corp. - Segment focus

• 11.15 Schindler Holding Ltd. 
• Exhibit 104: Schindler Holding Ltd. - Overview
• Exhibit 105: Schindler Holding Ltd. - Product / Service
• Exhibit 106: Schindler Holding Ltd. - Key news
• Exhibit 107: Schindler Holding Ltd. - Key offerings

• 11.16 thyssenkrupp AG 
• Exhibit 108: thyssenkrupp AG - Overview
• Exhibit 109: thyssenkrupp AG - Business segments
• Exhibit 110: thyssenkrupp AG - Key offerings
• Exhibit 111: thyssenkrupp AG - Segment focus

• 11.17 Toshiba Corp. 
• Exhibit 112: Toshiba Corp. - Overview
• Exhibit 113: Toshiba Corp. - Business segments
• Exhibit 114: Toshiba Corp. - Key news
• Exhibit 115: Toshiba Corp. - Key offerings
• Exhibit 116: Toshiba Corp. - Segment focus

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 117: Inclusions checklist
• Exhibit 118: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 119: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 120: Research methodology
• Exhibit 121: Validation techniques employed for market sizing
• Exhibit 122: Information sources

• 12.5 List of abbreviations 
• Exhibit 123: List of abbreviations

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