Elevator and Escalator Market in India by Product and End-user - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR41568

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The elevator and escalator market size in India is expected to grow by USD 522.84 million and record a CAGR of 8.50% during 2021-2025.

This post-pandemic elevator and escalator market report of India has assessed the shift in consumer behavior and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this elevator and escalator market analysis report of India, key drivers such as the growing number of high-speed metro projects have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as the high cost of repair and maintenance, which will impede the market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Elevator and Escalator Market Size in India be in 2021?

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Who are the Key Vendors in the Elevator and Escalator Market in India?

The elevator and escalator market forecast report of India provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:


  • ESCON Elevators Pvt Ltd.
  • Fujitec Co. Ltd.
  • Hitachi Ltd.
  • Johnson Lifts Pvt. Ltd.
  • KONE Corp.
  • Mitsubishi Electric Corp.
  • Otis Worldwide Corp.
  • Schindler Holding Ltd.
  • thyssenkrupp AG
  • Toshiba Corp.


The elevator and escalator market in India is fragmented and the vendors are deploying various growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

This elevator and escalator market report of India further entails segmentation by product (elevator and escalator) and end-user (residential and non-residential). View our sample report to gather market insights on the segmentations.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post COVID-19 impact on each product and service segments.


Which are the Key Product Markets for Elevator and Escalator Market in India?


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The report offers an up-to-date analysis of the segmentations of the market. To garner further competitive intelligence and opportunities in store for vendors, view our sample report. This report provides estimations of the contribution of all segmentations to the growth of the elevator and escalator market size in India.


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What are the Key Factors Covered in this Elevator and Escalator Market Report of India?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive elevator and escalator market growth in India during the next five years
  • Precise estimation of the elevator and escalator market size in India and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of elevator and escalator market vendors in India 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The elevator and escalator market growth will increase by $659.20 million during 2019-2024.
The elevator and escalator market is expected to grow at a CAGR of 9.02% during 2019-2024.
Technavio has segmented the elevator and escalator market by product (Elevator and Escalator) and geographic (APAC, North America, MEA, South America, and Armenia).
ESCON Elevators Pvt. Ltd., Fujitec Co. Ltd., Hitachi Ltd., Johnson Lifts Pvt. Ltd., KONE Corp., Mitsubishi Electric Corp., Schindler Holding Ltd., thyssenkrupp AG, Toshiba Corp., United Technologies Corp. are a few of the key vendors in the elevator and escalator market.
APAC will register the highest growth rate of 42.39% among the other regions. Therefore, the elevator and escalator market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the elevator and escalator market growth are:
  • Growing number of high-speed metro projects
The elevator and escalator market vendors should focus on grabbing business opportunities from the elevator segment as it accounted for the largest market share in the base year.

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