March 2018
With a growth expectancy of over 50 percent in the next four years, the Indian elevator and escalator sector is scaling high making India one of the biggest markets for this industry.
The International Elevator and Escalator Expo 2018 reflected a similar growth stride, with 174 exhibiting companies from 10 countries that included India, China, Germany, Japan, Italy, the Netherlands, Switzerland, Turkey, the UK, and the USA, marking a 20 percent increase in the international participation and 15 percent increase in the total exhibition space.
The key business event had magnificent real-life samples of elevators and escalators to give the visitors a personalised experienced of luxury and high end technology. The show was bustling with exhibitors and visitors and discussing business with prospective buyers. With a total of 9,400 visitors recorded at the fair, the show was a clear win – win situation for both exhibitors and business visitors.
In an insightful seminar about the current dynamics of the vertical transportation sector, Mr Shankar Gopalkrishnan, President, Madras Consultancy Group stated: "The elevator and escalator market stood at USD 115 billion in the year 2017 and is expected to reach USD 175 billion by the year 2021. Major demand is expected from the affordable housing sector which needs innovative solutions to supplement vertical real estate growth."
The industry was seen eyeing this premium business fair as many notable members from the sector made their presence felt. The exhibition had back to back seminars from industry leaders like Gefran, Fujitec, Nidec, Otis, Hiteachi, Intellithink, Wittur, Schmersal and Monteferro who touched vital topics within the industry giving the attendees better clarity about the sector.
Apart from the technical seminars, the International Elevator and Escalator Expo 2018 had panel discussion on interdisciplinary coordination in planning and design of tall buildings, workshop on elevators for firefighting and emergency evacuation, and introduction of section 5, part B in the National Building Code (NBC) 2016.
Talking about the amendments done in the guidelines in regards to safety concerns during building construction, Mr Sanjay Pant, Scientist and Director (Civil Engineering), Bureau of Indian Standards, said: "The International Elevator and Escalator Expo is a very interesting platform with a large number of players involved. The national Building Code which was recently revised in 2016 has incorporated a detailed chapter on escalators and added a new chapter on travelator, structural glazing, and Asset Facility Management. The panel discussion that took place will definitely go a long way in ensuring that the code is rightly implemented in the country."
Also talking about the industry as a whole was real estate mogul Mr Niranjan Hiranandani, Co-founder and Managing Director, Hiranandani Group shared: "51 percent of the population in India is moving to the urban areas which will lead to congestion, eventually leading to an aggressive growth in elevators. For now the demand comes from the higher segment but over a period of time, as housing for all will make its way, the bottom of the pyramid will grow faster and that’s where elevators industry professionals will have to be more cautious."
With the towering future this industry possesses, it will be exciting to see what the next edition of IEE Expo which will be held from 27 – 29 February 2020 will have in store for the Indian market.
Digitalpaper
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