From the Archimedes's cab on the hemp rope powered by hand to hydraulic elevators to energy efficient, environment friendly elevators, vertical transportation has seen a sea change in the Indian market in terms of high speed, safety and smooth ride as the demand of elevators witnesses a sharp increase in the last few years.
"The most important growth driver of elevator business in our industry is urbanisation. The annual gross domestic product growth has remained at a solid 6-8 per cent and the elevator market has grown up to 20 per cent on annual basis," says Minna Mars of Kone Corporations, one of the largest elevator companies in India.
The elevator industry in India today is approximately 26,000-27,000 elevators per annum. There are players like Mitsubishi, Kone, Schindler
There is no doubt that with changing lifestyle the consumer preference for the elevators has also changed and when a client comes to us for booking, he also enquires about the kind of elevator we are providing, says an executive of a construction company.
"With the scarcity of land in major cities, the need is now more than ever before for a vertical growth instead of a horizontal expansion, one of the key reasons why we see more and more of 20 plus floor buildings coming up across major cities," he further says.
"In the last five years, the Indian market has seen some changes, like even tier-2, tier-3 cities are growing and lot of malls and residential apartments are coming up," Mars adds.
