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| Title | India Elevator and Escalator Market 2025 | Worth USD 22.20 Billion by 2033 |
|---|---|
| Category | Business --> Information Technology |
| Meta Keywords | India Elevator and Escalator Market |
| Owner | Ranjeet Sharma |
| Description | |
| The latest report by IMARC Group, titled “India Elevator and Escalator Market
Size, Share, Trends and Forecast by Type, Service, End Use, and Region,
2025–2033,” offers a comprehensive analysis of the India elevator and escalator
market growth. The report also includes competitor and regional analysis, along
with a breakdown of segments within the industry. The India elevator and
escalator market size reached USD 14.60 Billion in 2024. Looking forward, IMARC
Group expects the market to reach USD 22.20 Billion by 2033, exhibiting a
growth rate (CAGR) of 4.30% during 2025–2033. Base Year: 2024 Forecast Years: 2025–2033 Historical Years: 2019–2024 Market Size in 2024: USD 14.60 Billion Market Forecast in 2033: USD 22.20 Billion Market Growth Rate 2025–2033: 4.30% India Elevator and Escalator Market Overview The India elevator and escalator market is experiencing
steady growth, driven by rapid urbanization, increased high-rise constructions,
and government initiatives like the Smart Cities Mission and Pradhan Mantri
Awas Yojana (PMAY). The rising demand in metro stations, airports, and
commercial spaces, along with technological advancements in energy-efficient
and IoT-enabled elevators, is further propelling the market. Request For Sample Report: https://www.imarcgroup.com/india-elevator-escalator-market/requestsample c Trends and Drivers Key trends influencing the India elevator and escalator
market include: Rapid Urbanization and Increased High-Rise Constructions:
India's urban population is projected to reach 40.76% by 2030, up from 34.93%
in 2020. This urban growth necessitates vertical infrastructure expansion,
boosting the demand for elevators and escalators. Government Initiatives: Programs like the Smart
Cities Mission, aiming to develop 100 smart cities, and PMAY, targeting 20
million affordable houses by 2022, are driving infrastructure development and,
consequently, the elevator and escalator market. Expansion of Commercial Real Estate: India's
commercial real estate sector is expanding, with office space absorption
reaching 42 million square feet in 2022, reflecting strong demand for elevators
in newly constructed office buildings. Integration of Advanced Technologies: The adoption of
energy-efficient and IoT-enabled elevators is on the rise, enhancing
operational efficiency and user experience. For instance, Gujarat had
approximately 1.10 lakh elevators by March 2023, with 11,000 added in the
2022–2023 period, indicating rapid growth. India Elevator and Escalator Market Segmentation
·
Elevators ·
Escalators
·
New Installation ·
Maintenance & Repair ·
Modernization
·
Residential ·
Commercial ·
Industrial
·
North India ·
West and Central India ·
South India ·
East India Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/india-elevator-escalator-market India Elevator and Escalator Market News March 2023: Gujarat had approximately 1.10 lakh
elevators, with 11,000 added in the 2022–2023 period. Ahmedabad led the state
with 41,000 lifts, reflecting the fast growth of India's elevator
installations. Key Highlights of the Report
Note: If you need specific information that is not
currently within the scope of the report, we can provide it to you as a part of
the customization. Ask analyst for your customized sample: About Us IMARC Group is a leading market research company that offers
management strategy and market research worldwide. We partner with clients in
all sectors and regions to identify their highest-value opportunities, address
their most critical challenges, and transform their businesses. IMARC’s
information products include major market, scientific, economic and
technological developments for business leaders in pharmaceutical, industrial,
and high technology organizations. Contact Us IMARC Group | |