| |APRIL 20217Elevators today have become an inherent part of infrastructure. They have now progressed from being a necessity for commute to an aesthetic attribute of buildings. As a result, we are seeing them evolve both in terms of functions and design. By implementing new technologies, manufacturers are making smart elevators which are equipped with sensors and other devices to reduce manual intervention. At the same time, new designs are being used to give an aesthetic appeal to elevators. The global elevator market is expected to grow at a CAGR of around 3 per cent from 2021 to 2027. Proliferation in high-rise buildings and structures across the world is expected to increase the market share for the global vertical transportation sector. In India, the elevator and escalator market is expected to witness steady growth over the coming years, due to the strategic focus of government in revving the construction sector with projects such as Smart Cities Mission. Additionally, ambitious plans such as housing for all, upcoming metro rail projects and development of bullet trains would remain the major driver for the growth of the industry. The construction of new metro stations in cities is leading to an increase in the demand for elevators and escalators. Driving the growth further is the rising need for maintenance and modernization of elevators. Elevators are maintained under full-service contract agreements due to high labour costs and short service cycle. The servicing creates a new dimension to the segment by making manufacturers accountable for their products. After studying this industry segment in-depth, we have come up with the list of Top 10 Elevator Manufacturers who have excelled in this field with their innovative approach. Having proven their dedication to quality and delivery in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd. We look forward to receiving your feedback and suggestions.Sudhakar SinghEditorsudhakar.singh@theindustryoutlook.comElevators Rising in ProminenceVol 2 · Issue 4 - 3 · April 06, 2021Publisher Alok ChaturvediEditor Sudhakar Singh Editorial Team Janifha Evangeline Samrat Pradhan Hridkamal Roy Rajan Sarma Art & Graphics Ashok Kumar Dennis Bennito Sales & MarketingIndranil ChakrabortyVirupakshi Pattarsales@theindustryoutlook.com Editorial Querieseditor@theindustryoutlook.comCirculation Manager Magendran PerumalCover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Publisher Alok ChaturvediCopyright © 2021 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.
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