The elevator & escalator market in India is experiencing substantial transformation.

Amit Gossain, Managing Director, KONE Elevators India
How do you view India's journey in infrastructure development? What are the key highlights?
India's journey in infrastructure development has been significant and according to Global Quality Infrastructure Index (GQII), it stood 10th worldwide with respect to overall quality infrastructure environment in the country. Infrastructure is a key enabler in helping India become a US$26 trillion economy.
There are several key highlights marking the development - India's population growth and economic development, policy support, increasing investments, digital infrastructure, railway modernization, metro projects, road infrastructure, renewable energy infrastructure, ports and airports, affordable housing, water & sanitation to name a few.
India's infrastructure journey is ongoing, and the government's commitment and continued efforts have been increasing in various sectors and contributing to India's overall growth.
How is elevator and escalator market making a transformation in India? What is trending now?
The elevator & escalator market in India is experiencing substantial transformation. The sector is witnessing several trends and developments aimed at enhancing safety, experience, and sustainability. Here are some of the key trends that have been influencing the elevator and escalator market in India:
IoT-based Smart elevators: These elevators host advanced features such as predictive maintenance, real-time monitoring and remote control, improving reliability and reducing downtime.
Energy-efficient Solutions: With a focus on sustainability and energy conservation, energy-efficient elevators and escalators are in demand. Manufacturers are incorporating technologies like regenerative drives, LED lighting, and sleep mode functions to reduce energy consumption.
Green building initiatives: The growing emphasis on green building certifications and sustainability lead to an increased demand for eco-friendly elevators and escalators. These products are designed with materials and technologies that reduce environmental impact.
How is the company contributing to the transformation of elevator market in India?
Elevators and escalators are the lifelines of any infrastructure, especially in regions where high-rise buildings have become a norm. And as we are moving towards a connected form of flow solutions, it is difficult to imagine productivity without them.
KONE has taken an innovative three-pronged approach in the elevators and escalator sector:
Smart elevators: We are aiming to pioneer the concept of elevator digitization. We launched the first digitally connected elevators in the world - the DX elevators. These smart elevators are 24/7 connected - allowing the maintenance operators to keep an eye on their functionality. Moreover, the internet connectivity within the elevators themselves will enable people to stay productive while they flow. Furthermore, the KONE Jumplift technology improves people and material flow within a building.
Faster: When we talk about the aspect of 'fast' within the context of elevators, we aren't only talking about the flow speed but the accelerated construction. KONE believes that any infrastructure's lifeline of escalators and elevators shouldn't take too long to integrate. Thus, we have taken a unique and conducive approach to design our elevators so they can be installed ahead of schedule and at a low cost.
Sustainable: The KONE DX elevators focus on providing greener flow solutions to the masses. We understand the rapid pace at which India is being urbanized. And to make that transition greener, we are focusing on energy-efficient solutions in our elevators and escalators. We are also pursuing carbon neutrality and are targeting a 40% reduction of greenhouse gas emissions related to emissions and lifetime energy use of our product. These aren't just claims but aims that have been verified by Science Based Targets Initiative.
What are the latest developments from the company for the future needs? How is the demand trend?
KONE has revolutionized the user experience by increasing the attractiveness of elevators and providing digitized solutions to add value to the building. Our KONE DX Class elevators implement the human insight-driven design. The automated building operations from the KONE DX Class create an access bridge to KONE's digital solutions, which can further be leveraged with the KONE Partner Ecosystems for efficient management.
With our flagship proactive maintenance service - KONE 24/7 Connected Services, we can more accurately anticipate the need for maintenance. Hence, we ensure elevator and people flow experience is safe and seamless. It allows for quick hassle-free repairs, open communication platforms, which will further lead to a more dependable and safer customer experience with our products.
The demand for elevators is rising due to rising urbanization and standard of living. As a result, the development of high-rise structures, many of which have smart elevators, is fuelling the market for residential elevators. Vertical transportation is increasingly in demand as a result of growing urbanization and development. There will be a greater requirement for industrial areas as urbanization increases.
The company has introduced the world's largest passenger elevator in India. Can you give us an update on its current operation in Mumbai?
We are proud of our marvel - the world's largest passenger elevator running smoothly at the Jio World Centre in Mumbai. It's the size of a studio apartment, weighs 16 tons and can carry over 200 people at a time between five floors. KONE's new elevator at the Jio World Centre in the Indian financial capital truly takes People Flow to a new level. Designed to cater for large wedding groups or high volumes of conference or exhibition visitors, the 25.78 m2 elevator offers all-round scenic views of the newly opened convention centre and its gardens. The elevator uses KONE technology to carry users between five stops smoothly and efficiently, maximizing People Flow at the large convention and exhibition centre.
What are your major sustainability initiatives?
Our India factory at Sriperumbudur has been established taking into consideration several eco-friendly parameters in design, construction and operation to create a positive impact, preserve natural resources and improve the quality of life of employees who work at the facility and is sustainable in the future as well. The Indian Green Building Council awarded a Gold Certificate to our world-class factory and a Platinum Certificate to the office building and cafeteria, acknowledging the standards achieved.
Our current machine-room-less volume elevator, KONE MonoSpace® 500, is up to 90% more energy efficient than our elevators from the '90s. By modernizing an elevator, there can be energy savings of up to 70%. Our modernization solutions range from retrofitting LED lights to a completely new elevator with energy-regeneration technology.

Hits: 30