Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "India Elevators Market By Type of Carriage (Passenger, Freight & Others), By Type of Machinery (Traction & Hydraulic), By Type of Elevator Door, By Weight, By End User, By Value, By End User, By Volume, By Region, Competition Forecast and Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
India Elevators Market was valued at USD 1466.28 million in 2022 and is anticipated to project robust growth during the forecast period at a CAGR of 5.82% owing to the high pace of industrialization and increasing construction of skyscrapers etc.
A building's elevator or lift is a device put there to carry, lift, transport, or move people and things from one floor to another. A passenger or item can be transported from one level to another via an elevator in a variety of environments, including residential communities, commercial buildings, malls, hospitals, etc. Elevators can also be used in industrial settings such as factories to move equipment, supplies, and finished goods between levels.
Increasing Demand for MRL (Machine Room Less) Elevators
The benefits of machine room-free elevators include improved energy efficiency, lighter weight and more design options, best use of hoist-way space, etc. The demand for high-speed traction elevators is skyrocketing as there are more and more high-rise office and residential buildings around the nation. For unique customer needs, market participants are launching high-speed, ultra-high-speed, and machine room-less elevators to meet the expanding market demand.
High-Rise Buildings Using UltraRope Technology
The elevator can travel up to a height of around 1,000 meters thanks to the ultra-lightweight hoisting technology known as UltraRope. The demand for UltraRope is rising along with the number of high-rise office and residential structures.
For instance, KONE UltraRope gets rid of the drawbacks of current steel ropes such as excessive energy consumption, rope stretch, big moving masses, and downtime brought on by building wobble. As it is made of a carbon fiber core and a special high-friction coating, the KONE UltraRope is incredibly light. This results in an 11% reduction in elevator energy usage.
Energy-saving Regenerative Drives are a New Innovation in Elevator Technology
The usage of equipment with improved energy efficiency is urgently required. Solar-powered elevators have been created by businesses such as Schindler, which save a large amount of energy while drawing power straight from the sun. Due to decreased operating costs and lesser wear and tear, these regenerative drives and eco-efficient solutions also guarantee an extended equipment life.
Market Segmentation
India Elevators Market, By Type of Carriage:
- Passenger
- Freight
- Others
India Elevators Market, By Type of Machinery:
- Traction
- Hydraulic
India Elevators Market, By Type of Elevator Door:
- Automatic
- Manual
India Elevators Market, By Weight:
- Up to 550kg
- Up to 350kg
- Up to 750kg
- Up to 1150kg
- More than 1150kg
India Elevators Market, By End User
- Residential
- Commercial
- Industrial
- Government Institution
India Elevators Market, By Region:
- South
- West
- North
- East
A selection of companies mentioned in this report includes
- KONE Elevator India Private Limited
- Johnson Lifts India Private Limited
- Schindler India Pvt. Ltd.
- OTIS Elevator Company (India) Ltd.
- TK Elevator India Private Limited
- Mitsubishi Elevator India Pvt. Ltd.
- Fujitec India Pvt. Ltd.
- Escon Pvt Ltd.
- Hitachi Lift India Pvt. Ltd.
- Blue Star Elevator Pvt. Ltd.
- Express Lift Ltd.
- Omega Elevators
- Eros Elevators Pvt. Ltd.
- Orbis Elevators Co Ltd.
- Supreme Elevators & Company
For more information about this report visit https://www.researchandmarkets.com/r/6a0s6i-elevators?w=12
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