An Overview of the Indian Elevator Market

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An Overview of the Indian Elevator Market
Since the liberalization of the Indian economy in 1991, there has been a great increase in the demand for elevators, also the government had imposed a ban on collapsible gate elevators, thus creating a path for international players to capture this segment. During this period Schindler was trying to establish at 100% subsidiary to start its operations in India.
Indian customers are considered to be price sensitive and majority of the market preferred single door speed elevators (65%) and then two door speed elevators (20%). Single door speed elevator is a type of elevator door which consists of horizontal sliding panel. Two door speed elevator on the other hand consists of two horizontal sliding panels. Price and simple products are the key factors that are taken into consideration for most Indian buyers, but after sale services too is becoming a major concern in elevator buying decision.
After liberalization there has been a growth in the tourism industry and an increase in foreign tourist and business visitors coming to India. This further leads to the growth of the hotel industry, which is the largest buyer of top line elevators.
The key players in the elevator industry are Otis (50%), Kone (8.8%), Bharat Bijlee limited (8.6%) and ECE industries limited (8.4%). Otis dominated the market, both from product and service point of view and it is also considered to be the most profit making firm in the elevator industry.
Elevator industry in India today
Given the annual growth rate of approximately 8.5% between 2006-07 to 2010-11 and a growth rate of approximately 4%-5% despite the global recession, the real estate market in India is growing at a steady pace and will continue to grow steadi...

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...elevators and 3 Schindler 5400 elevators in residential complex.
Another unique project which was undertaken by Schindler is Mumbai’s luxury hotel, Sahara Star. The structure of this hotel is circular in shape and is designed in such a manner that it looks more like a tropical natural reserve than just a hotel. A distinguishing factor about this hotel is its 3 unique elevators. These elevators were custom made by Schindler in Switzerland. These elevators are more often seen as an experience rather just a means of transportation by visitors. The custom-made glass panoramic elevators give a great view of the entire hotel, as the elevators move upward a wider area of the hotel can be seen. Also the elevators are designed in such a manner that when all the 3 elevators stop at a single floor, they form a hemisphere, a symbol that joins guests with a natural environment.
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