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© This is a licensed product of Ken Research and should not be copied

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TABLE OF CONTENTS

1. India Elevator And Escalator Market Overview

1.1. Life Cycle of Elevators and Escalators

1.2. India Elevator And Escalator Market Size, FY’2007-FY’2013

1.2.1. By New Equipment Installations, FY’2007-FY’2013

1.2.2. By Revenue, FY’2007-FY’2013

1.2.3. By Maintenance and Modernization, FY’2007-FY’2013

2. India Elevator Market Introduction

2.1. India Elevator Market Size, FY’2007-FY’2013

2.1.1. By New Equipment Installation, FY’2007-FY’2013

2.1.2. By Revenue, FY’2007-FY’2013


2.2. India Elevator Market Segmentation

2.2.1. By End Usage, FY’2011-FY2013

2.2.2. By Types of Machinery (Hydraulic and Traction), FY’2011-FY’2013

2.2.3. Traction Machinery Segmentation, FY’2011-FY’2013

2.2.3.1. By Gear and Gearless Types, FY’2011-FY’2013

2.2.3.2. By MR and MRL, FY’2011-FY’2013

2.2.4. By Door Types, FY’2011-FY’2013

2.2.5. By Types of Carriage (Passenger Lifts and Freight Lifts), FY’2010-FY’2013

2.2.6. By Speed in meters per second, FY’2013

2.2.7. By Regional and State Wise- Demand, FY’2013

3. India Escalator Market Introduction

3.1. India Escalator Market Size, FY’2007-FY’2013

3.1.1. By New Equipment Installation, FY’2007-FY’2013

3.1.2. By Revenue, FY’2007-FY’2013

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3.2. India Escalator Market Segmentation, FY’2013

3.2.1. By Regional Demand, FY’2013

3.2.2. By End Usage, FY’2011-FY’2013

4. Elevators and Escalators Market: Trends and Development

Focus on High Speed Elevators

Focus on Modernization

Stress on Attractive designs

Advent of Smart Elevator Technology

Focus on Green Elevators

Increased Migaration to Urban Areas

Increasing Role of Service Personnel

Growing Number of Moving Walks

5. India Elevator And Escalator Market Value Chain

6. Market share of the Major Players in India Elevator and Escalator Market

6.1. Price Comparison of Elevator and Escalator of Major Players in the Industry

7. Company Profiles of Major Players in India Elevators and Escalators Market

7.1. Kone India Private Limited

7.1.1. Company Overview

7.1.2. Business Strategy

Energy efficient and cost saving measures

Focus on expanding production base

7.2. Johnson Lifts



Expanding Operating Network and Increasing Investment in R&D

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7.3. Otis Elevator Company (India)



Focus on Customer Satisfaction

Eco-friendly and Cost Effective Solutions

Focus on Increasing the Scale of Operations

Focus on Increasing Service Centers

7.4. Schindler India Private Limited



Focus on Green Technology

Focus on Expansion

7.5. ThyssenKrupp Elevator India Private Limited



Focus on Launching New Manufacturing Plants

Increasing Focus on Research and Development

8. India Elevator And Escalator Market Future Outlook and Projections, FY’2014-FY’2018

8.1. India Elevator Market Future Outlook and Projections, FY’2014-FY’2018

8.1.1. By New Installations and Revenue, FY’2014-FY’2014

8.1.2. By Maintenance and Modernisation, FY’2014-FY’2018

8.2. India Escalator Market Future Outlook and Projections, FY’2014-FY’2018

8.2.1. By New Installations and Revenue, FY’2014-FY’2018

8.2.2. By Maintenance and Modernisation, FY’2014-FY’2018

8.3. Cause and Effect Relationship of India Elevator and Escalator Industry

9. Macroeconomic Factors of Elevators and Escalators Market in India: Historical and Projected

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9.1. Urban Population, 2007-2018

9.2. Number of New Residential Units Completed, 2007-2018

9.3. Ageing Population, 2007-2018

9.4. Gross Domestic Product, FY’2007-FY’2018

10. Appendix

10.1. Market Definitions

10.2. Abbreviations

10.3. Research Methodology

Data Collection Methods

Approach

Variables (Dependent and Independent)

Multi Factor Based Sensitivity Model

Final Conclusion

10.4. Disclaimer

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LIST OF FIGURES

Figure 1: Scheme of Elevator Installation in a Building Facility

Figure 2: Installed Base of Elevators per Thousand Persons across Various Countries, FY’2012

Figure 3: Life Cycle Elevator and Escalator Equipment in India

Figure 4: India Elevator and Escalator Market Size by New Equipment Installations in Units and Growth Rate in Percentage (%), FY’2007-FY’2013

Figure 5: India Elevator and Escalator Market Size by Revenue Generated Through New Equipment Installations in INR Million, FY’2007-FY2013

Figure 6: India Elevator and Escalator Market Size by Revenue Generated through Maintenance and Modernization in INR Million, FY’2007-FY2013

Figure 7: India Elevator Market Size by New Equipment Installations in Units, FY’2007-FY’2013

Figure 8: India Elevator Market Size by Revenue Generated Through New Equipment Installations in INR Million, FY’2007-FY2013

Figure 9: India Elevator Market Size by Revenue Generated through Services and Maintenance in INR Million, FY’2007-FY’2013

Figure 10: India Elevators Market Segmentation by End Usage on the Basis of Contribution in Percentage (%), FY’2012-FY’2013

Figure 11: India Elevators Market Segmentation by Hydraulic and Traction Machinery on the Basis of Contribution in Percentage (%), FY’2011-FY’2013

Figure 12: India Elevator Traction Machinery Market Segmentation by Gear and Gearless Types on the Basis of Contribution in Percentage (%), FY’2011-2013

Figure 13: India Elevator Traction Machinery Market Segmentation by MR and MRL Types on the Basis of Contribution in Percentage (%), FY’2011-2013

Figure 14: India Elevators Market Segmentation by Automatic and Collapsible Manual Doors on the Basis of Contribution in Percentage (%), FY’2011-FY’2013

Figure 15: India Elevators Market Segmentation by Passenger and Freight Elevators on the Basis of Contribution in Percentage (%), FY’2011-FY’2013

Figure 16: India Elevator Market Segmentation by Speed in Meters per Second on the Basis of Contribution in Percentage (%), FY’2013

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Figure 17: India Elevator Market Segmentation by Demand from West, South, North and East Regions on the Basis of Contribution in Percentage (%), FY’2013

Figure 18: India Elevator Market Segmentation by State Wise Demand on the Basis of Contribution in Percentage (%), FY’2013

Figure 19: India Escalators Market Size by New Equipment Installations in Units, FY’2007-FY’2013

Figure 20: India Escalators Market Size by Revenue Generated Through New Equipment Installations in INR Million, FY’2007-FY2013

Figure 21: India Escalator Market Size by Revenue Generated through Maintenance and Modernization in INR Million, FY’2007-FY’2013

Figure 22: India Escalators Market Segmentation by Regional Demand on the Basis of Contribution in Percentage (%), FY’2013

Figure 23: India Escalator Market Segmentation by End Usage on the Basis of Contribution in Percentage (%), FY’2011-FY’2013

Figure 24: Value Chain of India Elevator and Escalator Market

Figure 25: Market Share of Major Players in Elevator and Escalator Market in India in Percentage (%), FY’2013

Figure 26: India Elevator Market Future Projections by Number of Units Installed and Revenue in INR Million, FY’2014-FY’2018

Figure 27: India Elevator Market Future Projections by Maintenance and Modernization on the Basis of INR Million, FY’2014-FY’2018

Figure 28: India Escalator Market Future Projections by Number of Units Installed and Revenue in INR Million, FY’2014-FY’2018

Figure 29: India Escalator Market Future Projections by Maintenance and Modernization Revenue on the Basis of INR Million, FY’2014-FY’2018

Figure 30: India’s Urban Population in Million, 2007-2018

Figure 31: Number of New Residential Units Completed in India in Thousands, 2007-2018

Figure 32: India’s Ageing population in Million, 2007-2018

Figure 33: India’s GDP in INR Million, FY’2007-FY2018

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LIST OF TABLES

Table 1: India Vertical Transport Market Segmentation by New Equipment Installations of Elevator and Escalator on the Basis of Contribution in Percentage (%), FY’2007-FY’2013

Table 2: India Vertical Transport Market Segmentation by New Equipment Installations of Elevator and Escalator in Units, FY’2007-FY’2013

Table 3: India Elevators Market Segmentation by End Usage on the Basis of New Equipment Installed in Units, FY’2012-FY’2013

Table 4: India Elevators Market Segmentation by Hydraulic and Traction Machinery on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

Table 5: India Elevators Market Segmentation by Gear and Gearless Type on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

Table 6: India Elevators Market Segmentation by MR and MRL Type on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

Table 7: India Elevator Market Segmentation by Demand from West, South, North and East Regions on the Basis of New Equipment Installed in Units, FY’2013

Table 8: India Escalators Market Segmentation by Regional Demand on the Basis of New Equipment Installed in Units, FY’2013

Table 9: India Elevators Market Segmentation by End Usage on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

Table 10: New Equipment Installations of Major Players in Elevator and Escalator Market in India in Units, FY’2013

Table 11: Price Comparison of Elevator and Escalator of Major Players in the Industry

Table 12: List of Important Orders Received by Schindler Elevator from India, FY’2012

Table 13: Cause and Effect Relationship between Industry Factors and India Elevator and Escalator Industry Prospects

Table 14: Correlation Matrix of the India Elevator and Escalator Industry

Table 15: Regression Coefficients Output of the India Elevator and Escalator Industry

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INDIA ELEVATOR AND ESCALATOR MARKET SIZE, FY’2007-FY’2013

BY NEW EQUIPMENT INSTALLATIONS, FY’2007-FY’2013

The elevator and escalator sales rest importantly upon the status of the real estate market in India. The growth in the real estate sector of the country particularly residential coupled with increased public infrastructure projects including metro…the elevator market contributed around railway nsit industry in India 95.9% share…

Indian elevator and escalator market has grown remarkably at a compound annual growth of 10.3% from FY’2007-FY’2013. The overall vertical transport market in India stood at ~ units in FY’2013 as compared to 26,473 units recorded in FY’2007. The major slowdown in the growth rate was evidenced during the fiscal year 2009….

In FY’2012, the market showcased steady growth of 10.6%...majorly contributed by the escalators sales which were stimulated on account of the continued growth in…

Figure: India Elevator and Escalator Market Size by New Equipment Installations in Units and Growth Rate in Percentage (%), FY’2007-FY’2013

26,473

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

0.0

5,000.0

10,000.0

15,000.0

20,000.0

25,000.0

30,000.0

35,000.0

40,000.0

45,000.0

50,000.0

FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013

Gro

wth

Rat

e (%

)

Uni

ts

New Equipment Installations Growth Rate (%)

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BY REVENUE, FY’2007-FY’2013

The elevator and escalator equipment sales in India have been driven by the demand from real estate sector particularly the residential segment, increased migration, ageing population and others. Of the aforementioned factors, real estate has been the most important aspect followed by increased migration of people from rural to urban cities….

The industry recorded revenue worth INR ~ million in FY’2007 which grew at the rate of 12.8% in FY’2008 reaching INR ~ million during the year. on account of the global recessionary pressure which was prevalent during FY’2009. The market however observed buoyant sales growth in the fiscal year 2010… This growth in the sales revenue has been majorly propelled by the augmenting public and private…

Figure: India Elevator and Escalator Market Size by Revenue Generated Through New Equipment Installations in INR Million, FY’2007-FY2013

29,507.0

0.0

10,000.0

20,000.0

30,000.0

40,000.0

50,000.0

60,000.0

FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013

INR

Mill

ions

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INDIA ELEVATOR MARKET SIZE, FY’2007-FY’2013

BY NEW EQUIPMENT INSTALLATION, FY’2007-FY’2013

The elevator market in India has escalated at a steady rate since FY’2007. The country has observed remarkable growth in residential …This has put a substantial thrust on the resource demand such as … The growth in Indian real estate market combined with the ongoing urbanization … Additionally, elevator firms have been increasingly shifting their focus ...

The elevator market in India has witnessed growth at a CAGR of 10.2% since FY’2007 to FY’2013. In FY’2007, total elevators installed in the country amounted to 25,546 units which surged to ~ units in FY’2008, thereby registering growth of ~% during the period. This increase in the demand for new equipments has been attributed to …

During FY’2009, the elevators market in India recorded installations of ~ units at a relatively slower growth rate of ~% over the previous year, as …

In FY’2010, elevators market in India posted growth at a relatively healthier rate of ~%, recording sales of ~ units during the year. This can be attributed to … Further on account of an increase in the … the total number of elevators installed in India reached to ~ in FY’2013.

Figure: India Elevator Market Size by New Equipment Installations in Units, FY’2007-FY’2013

25,546

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

0.0

5,000.0

10,000.0

15,000.0

20,000.0

25,000.0

30,000.0

35,000.0

40,000.0

45,000.0

50,000.0

FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013

Gro

wth

Rat

e (%

)

INR

Mill

ions

By Volume (Units) Growth Rate (%)

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BY MAINTENANCE AND MODERNIZATION, FY’2007-FY’2013

Elevators have been the leading contributor to the maintenance and modernization revenue of the overall industry of vertical transportation in India. The share of elevators in maintenance and modernization market of elevators and escalators in the country was around ~% in FY’2013. Even though the share of elevators in revenue from maintenance and modernization is higher, the same has been witnessing a steady decline over the past few years. This fall in the share can be attributed to …

In FY’2007, the revenue generated from elevator service and modernization was INR ~ million, which grew at the rate ~%, thus reaching INR 7,046.9 million in FY’2008 owing to … In FY’2009, the service and modernization market, however, witnessed downslide in the revenue attributed to … During the subsequent year FY’2010, the revenue from services grew at a healthy rate of 13.2% over FY’2009 on account of the … In FY’2012, the elevator service contract market revenue in the country reached INR ~ million, thus growing by ~% over FY’2011 and further reached INR ~ million in FY’2013.

Figure: India Elevator and Escalator Market Size by Revenue Generated through Services and Maintenance in INR Million, FY’2007-FY’2013

7,046.9

0.0

2,000.0

4,000.0

6,000.0

8,000.0

10,000.0

12,000.0

14,000.0

FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013

INR

Mill

ions

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INDIA ELEVATOR MARKET SEGMENTATION

BY END USAGE, FY’2011-FY2013

India has been amongst the most rapidly developing economies in the world, with majority of the developments taking place in a few metro cities of the country including … There has been significant migration of people to these areas as witnessed over the years. People from less developed rural and few semi urban areas in search of employment opportunities and better standard of life migrate to the developed cities in the country. This has resulted in …

The public infrastructure projects including airports, metro, railways and foot over bridges constituted the second highest share in the overall demand for elevators in the country accounting for ~% share in terms of the new elevators installed in the country in FY’2013. Their share is expected to surge in the coming years owing to …

The market share of malls in the overall demand for elevators in India was observed to be the third highest accounting for ~% share in the total number of elevators installed in India in FY’2013. Nearly ~ elevators have been installed in malls across India until FY’2013. The Indian retail real estate underwent a drastic change in the recent years…

Figure: India Elevators Market Segmentation by End Usage on the Basis of Contribution in Percentage (%), FY’2012-FY’2013

3.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

FY'2012 FY'2013

Perc

enta

ge (%

)

Residential Public Infrastructure Malls Hospitals Hotels

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TRACTION MACHINERY SEGMENTATION, FY’2011-FY’2013

BY GEAR AND GEARLESS TYPES, FY’2011-FY’2013

Geared mechanism has been the traditional elevator running technology based on … Geared traction machines are majorly impelled by AC or DC electric motors. These machine types use worm gears to … These machines can offer speeds up to … Geared traction machines entail relatively higher maintenance cost as these are more prone to general wear and tear as compared to the gearless machinery.

The gearless traction machines, on the contrary, are high torque electric motors driven by permanent magnet AC motors. These have strengthened their existence in the country since the advent of MRL elevators in 2007. Owing to the presence of permanent magnet, the motor involved in gearless mechanism functions on the basis of repulsion technology… \

The present market for elevators in India has been majorly dominated by the geared technology elevator. Their contribution to the total market for elevators stood at ~% as recorded in FY’2013. However, over the past few years, there has been a consistent decline witnessed in its market share owing to the …

Figure: India Elevator Traction Machinery Market Segmentation by Gear and Gearless Types on the Basis of Contribution in Percentage (%), FY’2011-2013

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

FY'2011 FY'2012 FY'2013

Perc

etag

e (%

)

Gear Gearless

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Table: India Elevators Market Segmentation by Gear and Gearless Type on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

By Traction Machinery Segmentation FY'2011 FY'2012 FY'2013

Gear

Gearless

Total

Table: India Elevators Market Segmentation by MR and MRL Type on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

By Machine Room FY'2011 FY'2012 FY'2013

MR

MRL

Total

BY DOOR TYPES, FY’2011-FY’2013

The purpose of door in an elevator is to ensure safety and security of passengers by preventing them from falling into the hoist way while lifting them to the upper or lower floors. There are generally two major types of elevator doors, manual doors and automatic doors. In FY’2013, manual collapsible doors commanded a market share of ~% in the entire elevator market in India. However, owing to the …

Automatic lift doors, on the contrary, are typical door types that are found in modern day lifts. These are equipped with various safety sensors and equipment ensuring protection of the passengers. These are installed with mechanical buffers or safety edges, which make …

The share of elevators with automatic doors in India was observed considerably higher at around ~% in the total number of elevators installed in the country during FY’2013. The share of these door types is expected to gain further traction in the coming years…

…automatic doors have been further segregated under various formats available for installations such as ……

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Figure: India Elevators Market Segmentation by Automatic and Collapsible Manual Doors on the Basis of Contribution in Percentage (%), FY’2011-FY’2013

BY REGIONAL AND STATE WISE- DEMAND, FY’2013

The Western region of the country dominated the market for elevators with around ~ installations, contributing ~% share in the total number of elevators installed in the country during FY’2013. From the western region, Mumbai alone accounted for ~% share of the overall market for elevators in the country during the FY’2013. The share of Western region in the total elevator market in the country has been further anticipated to augment on account of …

…in FY’2013, the southern region of the country was recorded to be the second largest market for elevators in India, with total installations summing up to ~ units capturing a share of nearly ~% in the total number of elevators installed in the country during the year. The market for elevators in this region has been majorly led by the metro cities including…

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0%

100.0%

FY'2011 FY'2012 FY'2013

Perc

enta

ge (%

)

Auto door Colapsable Mannual Door

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Figure: India Elevator Market Segmentation by Demand from West, South, North and East Regions on the Basis of Contribution in Percentage (%), FY’2013

Figure: India Elevator Market Segmentation by State Wise Demand on the Basis of Contribution in Percentage (%), FY’2013

West

South

North

East

2.6% Mumbai

Delhi NCR

Hydrabad

Banglore

Kolkatta

Kochi

Ahemdabd

Chennai

Others

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INDIA ESCALATOR MARKET SIZE, FY’2007-FY’2013

BY REVENUE, FY’2007-FY’2013

The market for escalators is majorly contributed by the prospects of growth and development of the organized retail sector including …

In FY’2013, total revenue garnered by the India escalator market was recorded to be INR ~ million as compared to the INR ~ million in FY’2007. The market for escalators in the country has grown favorably over the past years on account of the …the market witnessed growth at a CAGR of 11.4% in the revenue terms from FY’2007-FY’2013. During FY’2009, the country witnessed …

In FY’2010, the escalator market in India grossed revenue worth INR ~ million at the growth of ~% over the previous year. In FY’2011, the escalator market in the country witnessed mild slowdown in the growth rate owing to the …

Figure: India Escalators Market Size by Revenue Generated Through New Equipment Installations in INR Million, FY’2007-FY2013

3,241.2

0.0

1,000.0

2,000.0

3,000.0

4,000.0

5,000.0

6,000.0

FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013

INR

Mill

ion

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INDIA ESCALATOR MARKET SEGMENTATION, FY’2013

BY END USAGE, FY’2011-FY’2013

Escalator market in India has showcased significant traction in its sales over the last decade and is witnessing growth at a remarkable rate. Malls were observed to be the biggest buyers of escalators till FY’2010. However, with the slowdown in the realty sector in the last couple of years, mainly prompted after the period of great depression, the market of escalators over the recent years has been primarily led by the demand from the public infrastructure projects which were dominated by the progress of the ….

…share of public infrastructures in the overall market for escalators was registered to be significantly higher at ~% in FY’2013. At ~%, the market contribution of the shopping malls was observed to be the second highest with total installations of nearly ~ units in the fiscal year 2013. It has been observed that the share of malls in the escalators demand in India has showcased decline from ~% in FY’2011 to ~% in FY’2013 owing to …

Figure: India Escalator Market Segmentation by End Usage on the Basis of Contribution in Percentage (%), FY’2011-FY’2013

39.5%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

FY'2011 FY'2012 FY'2013

Perc

enta

ge (%

)

Mall Public Infrastructrure Others

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Table: India Elevators Market Segmentation by End Usage on the Basis of New Equipment Installed in Units, FY’2011-FY’2013

By End Use (Units Installed) FY'2011 FY'2012 FY'2013

Mall

Public Infrastructure

Others

Total

MARKET SHARE OF THE MAJOR PLAYERS IN INDIA ELEVATOR AND ESCALATOR MARKET

The elevator and escalator industry has been one of the most highly concentrated markets in the country. The market has been majorly regulated by the multinational corporations. The contribution of the MNC’s to the entire industry stood at ~% as recorded in FY’2013. Although, the share of regional companies is lower, but remains significant in terms of their contribution to the overall market. Some of the prominent domestic elevator and escalator companies in India include …

In the organized segment, on the other hand, the market has been dominated by only few handfuls of players operating in the space. Kone was observed to be the largest player in the elevator and escalator market in India commanding the share of ~% in FY’2013…

Figure: Market Share of the Major Players in Elevator and Escalator Market in India in Percentage (%), FY’2013

Kone

Johnson Lifts

Otis Elevators

Schindler Elevators

Thyssenkrupp

Mistibushi Elevators

Others

21


Table: Major Players in Elevator and Escalator Market in India on the Basis of New Equipment Installation in Units, FY’2013

Company Number of Installations (Units)

Kone Elevators

Johnson Lifts

Otis elevators

Schindler elevators

Thyssenkrupp elevators

Mistibushi elevators

Others

Total

PRICE COMPARISON OF ELEVATOR AND ESCALATOR OF MAJOR PLAYERS IN THE INDUSTRY

The elevator and escalator market in India can be effectively segregated into two types of the structures: organized market structure and the unorganized market structure. In FY’2013, the organized segment constituted around ~% of the total elevator and escalator market in the country…

The average price of an elevator purchased from the organized market was observed to be significantly higher as compared to the unorganized sector, as they come equipped with advance features and safety standards which the local players often lack….

The unorganized sector of the industry generally manufactures elevators. The companies operating in the unorganized segment offer elevator equipment under two categories including the sale of elevator equipment assembled with the local parts…

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Table: Price Comparison of Elevator and Escalator of Major Players in the Industry

Elevator Companies in India

Models Starting Price

Kone India Private Limited

Johnson Lifts

Schindler India Private Limited

OTIS Elevator Company (India)

ThyssenKrupp AG Elevators India Private Limited

Mitsubishi Electric India

INDIA ELEVATOR AND ESCALATOR MARKET FUTURE OUTLOOK AND PROJECTIONS, FY’2014-FY’2018

INDIA ELEVATOR MARKET FUTURE OUTLOOK AND PROJECTIONS, FY’2014-FY’2018

BY NEW INSTALLATIONS AND REVENUE, FY’2014-FY’2014

The Indian elevator market is expected to grow in the coming years owing to persistent incline in the real estate sector and several upcoming public infrastructure projects such as metro, railways, airports and others expected to be completed in the near future. The elevator market which recorded sales of 45,638 units in FY’2013 is expected to grow to nearly 78,579 units in FY’2018 at a CAGR of 11.5% from FY’2013 to FY’2018. …

The growth in the elevator market tends to remain conducive to the status of the economy’s real estate scenario. The real estate market which has been majorly dominated by the residential sector is likely to witness surge in the coming years on account of…

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Increasing urbanization in the country has led to the migration of people from rural to urban cities in hope of desired employment, education and better standards of living. This increased migration of people coupled with the affordable housing properties has led to an incline in the demand for housing in the metro cities….

Furthermore, the future is expected to fully replace the collapsible door fittings with the automatic elevator doors that ensure greater safety…. market share of freight elevators, on the other hand, is likely witness incline in the coming years on account of the increased industrialization taking place in the country…

However, the tier 2 and tier 3 cities presents a huge untapped market potential for the installation of the elevators in the future. Stimulated by the growing incomes…the scope of elevator installations in these regions is expected to surge in the coming years.

Thus, triggered by higher sales volume, the elevator industry in India is expected to escalate remarkably at a CAGR of 14.2% in revenue terms, reaching sales worth INR ~ million by FY’2018 as compared to INR ~ million registered in FY’2013…

Figure: India Elevator Market Future Projections by Number of Units Installed and Revenue in INR Million, FY’2014-FY’2018

56,221

71,558.2

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

0.0

10,000.0

20,000.0

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40,000.0

50,000.0

60,000.0

70,000.0

80,000.0

90,000.0

FY'2014 FY'2015 FY'2016 FY'2017 FY'2018

INR

Mill

ion

Uni

ts I

nsta

lled

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