The elevator and escalator market share in India is expected to post an incremental growth of USD 522.84 million, accelerating at a CAGR of 9% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. In addition, our report offers a deep understanding of the key market players and their product portfolios. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects. Unlock Free Sample Analysis Report
The elevator and escalator market in India is segmented by product (elevator and escalator) and end-user (residential and non-residential).
The elevator and escalator market growth in India by the elevator segment will be significant during the forecast period. Due to the increasing technological advances in the elevator segment, market vendors have begun offering innovative elevator designs that are not only cost-effective but also energy-efficient compared with conventional elevators.
The rising demand for customized elevators is the major elevator and escalator market trend in India which will positively influence the market growth.
The growing number of high-speed metro projects is one of the primary factors driving the elevator and escalator market growth in India. However, the high cost of repair and maintenance will be the major hindrance for the market vendors.
The report provides a detailed study of all the factors likely to boost the market. An understanding of the key drivers will enable businesses to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.
The market is fragmented due to the presence of several players. Some of the major elevator and escalator market vendors in India are:
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