Second largest market for elevators, India to reach 104,600 units by 2021: Report
by Prashant Kapadia/NHN
Mumbai, 16thFebruary, 2018: With the growing space crunch in metros and plans for smart cities already underway, the number of high-rises is only going to go up. For the period 2017 to 2021, the market forecast pegs the growth average of 2,500 to 3,000 escalators per annum. In the case of elevators, the 2016 elevator market size estimated at 68,200 units is forecast to reach 104,600 units by 2021. While this vertical expansion will no doubt solve space issues in metros, it will also necessitate deployment of intelligent technology systems – elevators that are high-speed, use energy economically and can bring down the operating costs of a building. The upcoming International Elevator and Escalator Expo to be held at Mumbai from 27th February-1st March, 2018 will address the issues and showcase technological innovations, aesthetic designs and the progress in the vertical transportation industry.
The trade fair as attracted support from the Government of Maharashtra and Honourable Minister Mr. Chandrashekhar Bawankule, Energy, News & Renewable Energy State Excise Govt. of Maharashtra who said that he was glad to know that Messe Frankfrut India is organising International Escalators and Elevators-2018 at Bombay Exhibition Centre. “It is regarded as one of the largest elevator and escalator fair in India. IEE is a platform for the building and vertical transportation industry to meet, share and showcase their innovative solutions and technology with relevant decision makers and managers under one roof. Further he added that, Elevators and escalators play an important role in the ever growing skyline of Indian cities due to rapid urbanisation ,India’s elevator and escalator market is the world’s second largest.
India is amongst the most potential markets in the entire Asian region and stands as the second largest elevators and escalator market in the world. The demand for escalators is mainly driven by the numerous Metro rail networks projects planned across the country in several cities, as well as Modernisation and redevelopment of various Indian Railways stations – improving passenger “amenities” – includes escalators.
With only a few weeks left, the country’s leading trade fair for Elevator and Escalators – IEE Expo 2018, Is all set to being leading players like Fujitec, Hitachi, City Lifts, AV Cam , Mas Industries , Inditech Systems, Montanari , Gefran , Avire, Wittur, Fermator, Kinetek for a grand showcase of vertical transportation technologies Overall the trade fair will see 170+ companies from 10 countries. International participation is seen growing from China, Italy, Germany and the USA eyeing the growth prospects of the Indian market.
As urbanisation drives the increased need for housing, the elevator industry plays an important role in supporting that growth. Moreover, increasing urbanization, growing demand for high rise buildings and government initiatives such as 100 Smart Cities and AMRUT cites are fueling the need for smart and efficient technologies to support urban growth. Covering technological advancements and new product developments like safety, speed, advanced control systems, passenger convenience & comfort, Energy efficiency features for high rise buildings, IEE Expo will bring the industry together under one roof to network, discuss and collaborate.
The first edition organised under the umbrella of Messe Frankfurt Trade Fairs India is scheduled to take place from 27 February – 1 March 2018 at Bombay Exhibition Centre in Mumbai. www.ieeexpo.com
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