Elevating innovations
Elevating innovations
The growing urban developments and real estate market have pushed the demand for technologically advanced and feature-rich elevators. Construction Times presents an overview on how the market trend and outlook.
India’s elevator market is showing tremendous growth in the current market scenario as infrastructure and real estate markets are showing faster progress with many projects are under development. In the urban infrastructure development sector, elevators and escalators are finding more demand, especially in airports, railways & metros, smart city developments, and in commercial & residential real estate projects. Customers are looking for safe and smart solutions for vertical movements in the transforming life. Indian elevator market is growing rapidly and is anticipated to project robust growth in the forecast period with a CAGR of approximately 9.5% through 2030.
What’s trending?
The elevator & escalator market is driven by rapid urbanization, increasing construction of high-rise buildings and growing demand for residential and commercial spaces. The demand for vertical mobility solutions is increasing as the number of high-rise buildings and commercial complexes rises. This growth is further fueled by the government's focus on housing projects, metro rail networks, and airport expansions. Government initiatives like Smart Cities Mission and affordable housing projects boost market growth.
The expanding real estate market, infrastructural developments and a growing aging population needing mobility solutions contribute to the market’s expansion. Increasing focus on safety standards and modernization of existing infrastructure further propel the market forward.
In the home elevator segment, compact, space-saving elevator designs that complement home interiors are becoming increasingly popular. “Homeowners are seeking elevators that are not only functional but also luxurious. Priorities include energy efficiency, noise reduction, and safety features. There is also growing demand for smart elevators that can be operated through smartphone apps, offering convenience and an enhanced user experience. Traction-based pit-less lifts are also on the rise, as they require fewer structural modifications,” says
Ratan Singh Sehgal, Managing Director, Hybon Elevators & Escalators Pvt. Ltd.
In commercial segment, the customers highly value the reliability, efficiency, and safety of elevators and escalators. They require 24x7 service to ensure continuous operation, minimizing downtime and providing seamless transit. Energy efficiency, advanced security systems, remote monitoring, and the ability to manage heavy foot traffic are also key requirements. Aesthetics play a role, as elevators need to be integrated into the building’s design. Sustainability is another priority, with customers favoring elevators that consume less energy and have a minimal environmental impact.
Innovations
Rising disposable income and improved living standards lead to higher adoption of elevators. Technological advancements such as energy-efficient and smart elevators attract consumers seeking convenience and sustainability. While using the elevators, customers give priorities to energy efficiency, noise reduction, and safety. There is also growing demand for smart elevators that can be operated through smartphone apps, offering convenience and an enhanced user experience. Sehgal elaborates on the innovations in Hybon elevator range, “Our product range includes cutting-edge technologies such as AI-based predictive maintenance, IoT-enabled real-time monitoring systems, and smart touch panels. These features reduce downtime and ensure smooth operation. The ‘Always Connected’ feature is a SIM card-based system, activated on 5 pre-saved mobile numbers when the SOS button is pressed in the lift cabin during an emergency, ensuring swift response and safety.”
Safety & security is a fundamental concern in the elevators and escalators industry due to the potential risks to human life, legal requirements, and the industry's role in facilitating efficient urban mobility. Sehgal explains, “Safety is at the core of our elevator and escalator designs. Our systems include multiple safety layers, such as sensors that detect obstructions to prevent accidents, emergency alarms, and advanced braking systems. In the event of a power failure, modern safety mechanisms like Automated Rescue Devices (ARD) safely transport passengers to the nearest floor. We have also introduced new-age safety features such as the Over Speed Governor (OSG), which activates emergency brakes if the lift exceeds the prescribed speed limit, and the Overload Sensor, which prevents the lift from operating if the load exceeds the set capacity. Our smart technologies monitor elevator health in real-time, notifying maintenance teams of any issues immediately. In addition, our elevators are equipped with seismic and fire safety sensors that meet international safety standards.”
Manish Mehan, CEO & MD, TK Elevator India,
elaborates on the safety features in his product range, “Our elevators are equipped with a host of safety features such as overload protection, door safety curtain, machine overheat protection, unintended movement detection, door lock bypass, rescue operation system, advanced emergency communication systems including intercoms and emergency call buttons, automatic rescue devices, etc., apart from assorted other features that comply with local and international safety standards to ensure safe and comfortable ride for passengers and staff.”
“Innovation is at the core of everything we do at Otis, and our latest range of elevators and escalators is a testament to that commitment. We are not just moving people between floors; we are transforming their experience at every step of the journey,” says Sebi Joseph, President, Otis India, adding, “Our goal is to continue delivering innovations that redefine what it means to move, with a commitment to giving people freedom to connect and thrive in a taller, faster, smarter world.”
Looking ahead
Cities around the world are witnessing a boom in the construction of new buildings and public infrastructure to create living spaces for this increasing population. Going ahead, a large number of people are moving to cities every day around the world, with 67% of the global population expected to be living in cities by 2050. These numbers demonstrate that sustainable urban development is an absolute necessity. Cities around the world are witnessing a boom in the construction of new buildings and public infrastructure to create living spaces for this increasing population.
“We anticipate significant growth in the elevator and escalator industry, driven by the construction of high-rise buildings, smart city projects, and the increasing demand for advanced vertical transportation in housing developments,” says Sehgal.
The innovations in elevators will continue to evolve in the coming years with the developing infrastructure and changing customer needs.
