New developments have accelerated demand for smart and efficient escalator and elevator systems in India

- Manish Mehan

CEO and MD, TKE (India)

How do you view the elevator and escalator market in India and what by what rate it is growing?

The elevator and escalator market in India is expected to grow by $522.84 mn during 2021-25, progressing at the rate of 9%. This is propelled by the growing number of metro and airport projects and high economic growth. Infrastructure growth in India is expected at a CAGR of approximately 7% as the government is projected to invest about Rs 102 lakh crore in infrastructure projects by 2024-2025.

India has been witnessing a rapid increase in investments in large-scale metro projects, especially in tier-1 and tier-2 cities, to support the transportation and development needs of India as cities urbanize. Over the past decade, new metro rail lines have been added in areas near Delhi. Similarly, metro rail projects have been introduced in other Indian cities such as Bengaluru, Hyderabad, Chennai and Pune, with further plans to enhance connectivity in the future.

How is energy efficient product driving the way forward and what future do you envisage in the coming years?

India aims at building new airports to cater to the needs of increasing domestic and international air traffic. The rise in number of airports is expected to go up from 153 in 2020 to around 200 by 2040. Promoting India's Smart Cities Mission, these advancements in the field of infrastructure and technology with their integration will bring India one step closer to becoming an advanced aviation hub in the region.

These developments have accelerated demand for smart and efficient escalator and elevator systems in India resulting in new opportunities for leading manufacturers. Shortening travel times and making journeys safe and hassle-free for travellers are the main tasks of elevators and escalators at airports and metro stations. They help passengers navigate through distant and complex spaces to catch flights, and move quickly and seamlessly between terminals while their luggage gets maneuvered through various sections of an airport.

Especially with the latest mobility solutions, the development of elevators and escalators has become much more efficient. Smart elevators such as IoT-based elevators can monitor performance, offer real-time maintenance recommendations, provide updated status, advance reporting, control, and monitor the elevator remotely.

Can you give an overview of TK Elevator and the products on offer?

TK Elevator's, 'AX', is a game-changing predictive and pre-emptive maintenance solution that extends remote monitoring capabilities to dramatically increase current availability levels of existing and new elevators. Utilizing the power of Internet of Things (IoT) and Microsoft's Azure cloud computing technology, MAX predicts maintenance issues before they occur, and empowers elevator engineers by flagging the need to replace components and systems before the end of their lifecycle.

Speaking on sustainability, how is your company placed and to which major airports your products are in operations?

Sustainability is often a key factor for project owners when choosing between mobility solutions. Modern airports and transportation hubs look for mobility systems that are more energy-efficient, more intelligent and more integrated into the building operations workflow. Leading and more innovative players in the market have more comprehensive and innovative solutions in place to satisfy these requirements, and would be able to better capture these opportunities.

Elevators, escalators and moving walks from TK Elevator have a significant presence in international and domestic airports across the globe, also supporting some of the top airports in Asia Pacific and the Middle East including the Qatar Hamad International Airport, Singapore Changi and Hong Kong International Airport. TK Elevator's market-leading presence in various high-speed rail, train and subway stations across Asia Pacific highlights the company's capability in providing safe, high performing and reliable solutions to airports and large-scale infrastructure projects.

How do you view the market post-Covid?

As the Covid-19 pandemic stabilizes in India and globally, the aviation and railway sectors are expected to benefit from the post-Covid resumption of domestic and international travels. With a more positive outlook on tourism over the next few years, more subway and railway network expansion in the pipeline, and new transportation infrastructure continuously being built across India, we see enormous opportunities for leading manufacturers of elevators, escalators and moving walks.

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