Having recently overtaken China as the most populated country in the world, India is home to over 104 million elderly persons aged over 60, and over 150 million Indians suffer from knee and other joint-related pains. As a result, the lift & elevator market is witnessing a massive surge in demand in recent times. This is not the case in just industrial and commercial setups; the residential elevators segment too is fast gaining prominence in the country and witnessing a sharp demand growth.
A sedentary lifestyle among today’s youth, growing disposable income and an increased mentality among people today to have something ‘Not- So-Common’ in their homes are some of the major factors fueling this growth. Also, having a lift or an elevator in a residential is no longer seen as a luxury, but as a value-add to the property itself. Thus, having a home elevator is now becoming a common practice among almost all multistoried homes and properties.
While there are a huge number of companies offering lifts and elevators in India, only a handful of them are successful in catering to every customer’s needs and preferences. One such company that has created a niche for itself in the industry by clearly understanding customers’ demands and offering a perfectly suitable product is Chennai-based Nibav Home Lifts. Founded in 2019, the company is among the pioneers in manufacturing one of the most advance home elevator in the world.
Product Portfolio
Majorly being focused on the home elevator manufacturing business, Nibav currently offers three products – ‘Series-3 Elevators’ which are the latest version of elevators, ‘Series-3 Max’ which is the larger sized variant, and ‘Series-2 Elevators’ which are the previous line of products the company offered prior to launching the Series-3 and is currently under the process of being gradually withdrawn from the market. Launched in January 2023, the Series-3 Elevator is a standard-sized elevator that is 1 meter in width and anyone requiring a bigger home elevator can opt for the Series-3 Max version, thus catering to diverse customers’ requirements.
“We are proud to have launched three range of elevators in the last three years, i.e., since our inception. Our Series-3 range of elevators are one of the most advanced home elevator systems in India today. We strictly follow the ‘Make in India’ policy and are a 100 percent Indian company. We are the first Indian TUV-certified company selling home elevators, and our products are the first ones to receive this certification as well. We follow a ‘No Compromise’ attitude towards the safety aspect of our products and thus possess all the necessary safety certifications. This is one of the major factors that have played a key role in placing us a notch higher than our competitor companies in the market”, says Vimal Babu, Founder & CEO, Nibav Home Lifts.
A Tech-Focused Organization
Nibav leaves no stone unturned when it comes to implementing new technologies into its products and their manufacturing process. The company has invested heavily in technology and its wide range of elevators are currently one of the most advanced home elevator systems in the country. Additionally, every elevator that Nibav builds is completely air-driven. In simple terms, they fully function on just air, wherein the air pressure created within the cabin enables the elevator to move up and down. Also, unlike the usual elevator system that function on conventional technologies and are prone to oil leaks, and require frequent maintenance & repair, Nibav’s elevators come with very low maintenance costs and even function efficiently for a longer duration of time.
“Our manufacturing setup is fully compliant with all the industry-specific standards and government regulations. We use the latest CNC machines, the highest quality steel, and aero-grade aluminum in our manufacturing process. Additionally, the entire cabin of our elevators is built using polycarbonate glass which is of world-class quality. We understand the various complexities of building & operating an elevator and are well aware that over 900 components are used in the making of an elevator. Thus, we ensure to only use the finest quality of raw materials in our manufacturing process”, adds Vimal Babu.
The company has invested heavily in technology & its present series of elevators are currently one of the most advanced home elevator systems in the country
Quickest Sales Cycle in the Industry
Whenever a person finds a product online or in any marketing activity and gets in touch with Nibav, the company’s marketing & sales team contacts them back, validates the lead, and a visit is arranged to the customer’s place within 24 hours. A sales executive then visits the client and explains the various features & functionalities of the product. Additionally, the company also has experience centers across the world and around 30 such centers in India alone. Any person who is interested in its product can visit these centers and get a real-life first-hand experience of the products. This has enabled its customers to make an educated selection as to the kind of elevator that suits them, thus in turn strengthening the company’s relationship with its customers.
“I am proud to say that we have one of the fastest sales cycles in the industry, wherein there were even instances of us closing a sale in mere 3-4 hours. We have also installed our elevator systems in six malls – two in Chennai and one each in Ludhiana, Mysore, Thiruvananthapuram, and Kochi. This has also resulted in a lot of our customers approaching us after experiencing the elevators in these malls and being impressed by their functioning. Some of the major factors that have enabled us to attract our customers are 360 Degree Panoramic View, Completely Knocked Down (CKD), Environment Friendly, Light Weight, TUV Certified, and No Necessity for any Pit & Machine Room”, explains Vimal.
The Way Forward
Owing to such industry-best practices, exquisite product offerings, and a customer-first approach, Nibav has grown from just being a small company in 2019 selling just four elevators to having sold over 2,500 to date. Additionally, it has been witnessing a steady 5x growth each year and is now the leader in the Indian home elevator market. When asked about the company’s future roadmap, Vimal says, “We are thoroughly expanding across the globe.
Currently, we have a presence in 14 countries which includes Australia, Malaysia, Thailand, UAE, Canada, Nigeria, Kenya, Ghana, South Africa, Mexico, and many others. Geographical expansion is a very regular affair for us because we keep adding countries to our operational area every month. This year, we have an ambitious plan of foraying into the US, along with a couple of European countries like Germany and the UK as well. Going forward, we have a very clear and well-defined ambition of being the world’s largest home elevator company by 2024”.
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