Elevator and Escalator Market in India 2010
Elevators and escalators are becoming a necessity for buildings and construction projects being executed all over India with high end techniques and latest designs. India is experiencing a rapid growth in its construction sector wherein large industrial as well as residential houses are being developed. Owing to this phenomenon, the need for escalators and elevators is rising. Revenue sources for players in this space not only include equipment sales but also maintenance and servicing of the installed equipment. A large number of foreign companies are entering India to utilize the opportunity of constructing large buildings with greater expertise and designs. Government is also showing greater interest in establishing infrastructural spaces with greater usage of escalators and elevators.
The report begins with the market overview section highlighting the size of the elevator market in terms of units. It includes segmentation of the elevator market in terms of installed space. The market size for escalators has also been highlighted. It provides the various business segments in the market as well as the products and services offered by players and the dominance of the same in the market.
This is followed by the section which highlights the factors of growth in the market. An analysis of such drivers include lack of housing space due to increasing population and urbanization, increased spending on infrastructure and global real estate players entering India. The key challenge identified includes lack of trained manpower and non-mandatory regulations. Key trends of the market have been analyzed including introduction of green elevators, increasing role of elevator consultants and increasing use of elevators and escalators in infrastructure development. The following section highlights the regulatory structure of the market in the Indian context. It includes the description of the National Building Code of India 2005 and the standards set for installation of lifts and elevators in India. It also includes guidelines set for elevator and escalator safety and other general guidelines governing the market.
The competition section provides an overview of the competitive landscape of the market. It highlights the market share of the players. It also includes the product sourcing landscape of elevators in the market by various companies operating in this space. It includes brief profiling of players in the market. Key developments section has been added to show the latest happenings in the market over the past one year.
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Elevator and Escalator Market in India 2010
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