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India Elevator and Escalator Market Synopsis
India Elevator and Escalator Market has promising growth prospects over the next few years. This growth is primarily driven by the rising number of construction projects across the country as well as gradually increasing investment in infrastructure and construction projects post the Covid-19 Pandemic. Additionally, growing commercial and residential activities across several parts of the country have also spurred the growth of the Elevator and Escalator Market in India. However, the market witnessed a decline in growth as a result of delays in major construction projects along with shrinking investment in infrastructural development activities especially during the pandemic. Currently, the market has recovered and is expected to gain momentum in the future.
India Elevator and Escalator Market: Key Players
Some of the major players operating in the market are:
- Otis Elevator Company India Ltd.
- Johnson Lifts Pvt Ltd.
- KONE Elevators India Pvt Ltd.
- Schindler India Pvt Ltd.
- Mitsubishi Electric India Private Limited
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Base Year: 2019
- Forecast Data until 2026.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
COVID-19 Impact on India Elevator and Escalator Industry
The pandemic had a key impact on the Elevator and Escalator Market in India. With the imposition of lockdowns as well as social distancing measures, construction activities were completely hindered, which led to a reduction in demand for new installations. Additionally, maintenance schedules were completely disrupted owing to restrictions on movement, which led to a rise in breakdowns as well as repairs, further affecting the revenue generated by elevator and escalator players. However, with the ease of restrictions as well as the resumption of construction activities, there was a gradual recovery in demand for the new installations. Players were also adapting by offering remote monitoring solutions that enable for timely maintenance.
Key Highlights of the Report:
- India Elevator and Escalator Company Profiles
- India Elevator and Escalator Key Strategic Recommendations
- Market Opportunity Assessment By Types
- Market Opportunity Assessment By Services
- Market Opportunity Assessment By End-User
- India Elevator and Escalator Price Trends
- India Elevator and Escalator Porter's Five Forces
- India Elevator and Escalator Industry Life Cycle
- Forecast of India Elevator and Escalator Market, 2026
- India Elevator and Escalator Market Trend Evolution
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