Market Study – Elevator Industry
Market Study – Elevator Industry
Contents: Page No.
1. Introduction 3
2. Background – History of Elevators 4
3. Market Scenario 6
4. Elevator Industry as an Oligopoly 8
5. News from the Industry 10
1. Introduction
Elevators have become an integral part of any building facility over the past few decades. In our everyday life, we depend on them for vertical transportation in offices, schools, public buildings, airports, sub-stations etc. With over 4 million elevators in operation today, it accounts for an important facet of the building industry. To gain some idea of the effect of this one advancement, consider that today, elevators move the equivalent of the world’s population every 72 hours. Thus, it is unarguably an important sector of the building industry and a worthy topic for market research. This report addresses specifically the Indian Elevator market. 5 major players – Otis, Schindler, Thyssen-Krupp, Kone and Johnson dominate the elevator market. Each of these organizations is internationally present and is densely spread out throughout the country. With numerous offices, hundreds of projects running simultaneously and a huge inventory of men, materials and machinery, these companies are reaching new heights as Indian construction industry is progressing. Another key thing to note here would be that all of these companies also manufacture and install escalators and moving walkways. They also provide service and maintenance for elevators and escalators on a contract basis. Otis alone services about 1.2 million elevators and escalators worldwide.
2. Background – History of Elevators
An elevator is a device for vertical transportation of passengers or freight to different floors or levels, as in a building or a mine. The term elevator generally denotes a unit with automatic safety devices; the very earliest units were called hoists. Elevators consist of a platform or car traveling in
Contents: Page No.
1. Introduction 3
2. Background – History of Elevators 4
3. Market Scenario 6
4. Elevator Industry as an Oligopoly 8
5. News from the Industry 10
1. Introduction
Elevators have become an integral part of any building facility over the past few decades. In our everyday life, we depend on them for vertical transportation in offices, schools, public buildings, airports, sub-stations etc. With over 4 million elevators in operation today, it accounts for an important facet of the building industry. To gain some idea of the effect of this one advancement, consider that today, elevators move the equivalent of the world’s population every 72 hours. Thus, it is unarguably an important sector of the building industry and a worthy topic for market research. This report addresses specifically the Indian Elevator market. 5 major players – Otis, Schindler, Thyssen-Krupp, Kone and Johnson dominate the elevator market. Each of these organizations is internationally present and is densely spread out throughout the country. With numerous offices, hundreds of projects running simultaneously and a huge inventory of men, materials and machinery, these companies are reaching new heights as Indian construction industry is progressing. Another key thing to note here would be that all of these companies also manufacture and install escalators and moving walkways. They also provide service and maintenance for elevators and escalators on a contract basis. Otis alone services about 1.2 million elevators and escalators worldwide.
2. Background – History of Elevators
An elevator is a device for vertical transportation of passengers or freight to different floors or levels, as in a building or a mine. The term elevator generally denotes a unit with automatic safety devices; the very earliest units were called hoists. Elevators consist of a platform or car traveling in