India Elevator and Escalator Market Projected to Record Highest CAGR by 2018-2025 An elevator is a mode of vertical transport in a high-rise building. It generally operates on the principle of counterweight systems and drive traction cables or using the pressure of a hydraulic fluid. It is generally run by electrical motors. An Escalator is also a mode of vertical transport in the form of moving staircases. It works by the help of a motor driven series of staircases linked together and moving on a track. The elevators and escalators have become an inseparable part of today and can be found almost everywhere starting from schools, colleges, malls etc. to personal homes too. Factors such as the rising construction of high rise and smart buildings due to rapid urbanization and rising governmental focus for better and improved infrastructure coupled with inflow of funds from both the government as well as the private sectors, are some major drivers for increasing the demand of escalators and elevators. In addition, the introduction of GST has simplified the indirect taxation structure and thus giving a boost to the manufacturing sector, bolstering the growth of India elevators and escalators market further. The rising disposable income of the Indian population is also a major contributing factor towards the rise of Indian elevator and escalator market. Furthermore, the rising population in limited places of commercial importance has created the necessity for vertical construction growth in the surrounding areas. This has further created a need for the elevators and escalators market and is contributing as a major driver for it. High installation costs and low availability of skilled labour for after sales maintenance are the major restraining factors for the India elevators and escalators market. Various notable players in the market includes Johnson Lifts Pvt. Ltd., Kone elevator India Pvt. Ltd., Otis Elevator Company (India) Pvt. Ltd., Schindler India Pvt. Ltd., Thyssenkrupp Elevator (India) Pvt. Ltd., Mitsubishi Elevator India Pvt. Ltd., Fujitech India Pvt. Ltd., Escon Elevators Pvt, Kinetic Hyundai Elevator and moving technology Ltd., Blue star elevators Pvt. Ltd., Hitachi Lift India and Express Lifts. Request for Sample Report https://www.gmiresearch.com/report/india-elevator-and-escalator-market/samplerequest The Indian Elevator and Escalator Market has been segmented by product, by services, by application and key geographies. Based on product type the elevator market comprises of hydraulic based, traction based and machine room-less type, while the escalator market consists of step type and spiral type. The research report “Indian Elevator and Escalator market� provides in-depth analysis of the Indian Elevator and Escalator market based on product, services, application and major geographies for the forecast period from 2018 to 2025. The report also highlights the major market drivers propelling the growth as well as challenges
India Elevator and Escalator Market Projected to Record Highest CAGR by 2018-2025
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.