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.