MRO Magazine

Research and Markets: India Elevators Market Forecast and Opportunities, 2020 – KONE, Otis, Schindler, Johnson, and ThyssenKrupp Dominates the $1.6 Billion Industry

September 15, 2015
By Business Wire News


Research and Markets ( has announced the addition of the “India Elevators Market Forecast and Opportunities, 2020” report to their offering.

Elevators market in India is projected to exhibit significant growth over the next five years, with the market forecast to surpass US$ 1.6 billion in 2020.

Growth in the market is anticipated on account of growing infrastructure development projects in the country, which require elevators for vertical transportation. Metro projects across various major cities are also expected to fuel demand for new equipment installation, along with maintenance and modernization of already installed elevators. In 2014, residential sector was the largest end-user of elevators, followed by commercial, industrial and government sectors. Major players operating in India elevators market include KONE, Otis, Schindler, Johnson, and ThyssenKrupp.

Increasing number of residential projects coupled with rising population density in metros and major cities in India have been driving the country’s elevators market over the last five years. The need to provide accommodation to the continuously growing urban population has led to an in an increase in the number of high rise building in the country, thereby resulting in rising skyline of cities. Also, rising foreign investments in the country have stimulated the demand for office spaces over the last decade. In consonance with these developments, the demand for elevators from residential and industrial units has been increasing to facilitate vertical commute of people and transportation of freight. Moreover, with rapid development of infrastructure in urban regions, the number of commercial complexes and office buildings in India has also been increasing. These commercial buildings have also been contributing to the surge in demand for sophisticated vertical transportation systems in the country.

India Elevators Market Forecast & Opportunities, 2020 report discusses the following aspects of elevators market in India:

  • High Speed Elevators
  • Smart Elevators
  • Energy Efficient Elevators
  • Expanding Market for Elevators
  • Solar Elevators

Key Topics Covered:

1. Research Methodology

2. Analyst View

3. Product Overview

4. Global Elevators Market Overview

5. India Elevators Market Outlook

6. India Residential Elevators Market Outlook

7. India Commercial Elevators Market Outlook

8. India Industrial Elevators Market Outlook

9. India Government Institutional Elevators Market Outlook

10. Value Chain Analysis

11. Policy & Regulatory Landscape

12. Import-Export Analysis

13. Market Dynamics

14. Market Trends & Developments

15. Pricing Analysis

16. India Economic Profile

17. Competitive Landscape

18. Strategic Recommendations

Companies Mentioned

– Blue Star Elevators India Ltd

– Fujitec India Pvt. Ltd

– Hitachi Lift India Pvt. Ltd

– Johnson Lifts Pvt. Ltd

– KONE Elevator India Pvt. Ltd

– Mitsubishi Elevator India Pvt Ltd

– Omega Elevators Pvt. Ltd

– Otis Elevator Company (India) Ltd

– Schindler India Pvt. Ltd

– ThyssenKrupp Elevator India Pvt. Ltd

For more information visit

Research and Markets
Laura Wood, Senior Manager
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Sector: Computing and Technology, Elevators and Escalators