Urbanisation Fuels Demand for Elevator & Escalator Making India Number two in Market Share
Elevator
& Escalator market to reach 175 billion by 2021 : Mr.Shankar Gopalkrishnan,
President, Madras Consultancy Group
by Shrutee K/DNS
Mumbai: If overwhelming response to opening of the 7th edition
of Messe Frankfurt’s organised IEE expo 2018 is an indication, it is no wonder
that the Indian market for Elevator & Escalators is pegged as second
largest in the world. According to Mr. Shankar Gopalakrishnan of Madras
Consultancy Group, the Elevator and Escalator market will reach Rs. 175 billion
from the current Rs. 115 billion.
All the leading
players including, Fujitec, Hitachi, City Lifts, AVCAM, CREESTA, Fujitec,
Fermator, Gefran, Hitachi, Mas Industries, Montanari, Monteferro, Otis ,
Svchmersal were present during an event. The trade fair brings 170 companies
from 10 including India, China, Germany, Japan, Italy, and the Netherlands,
Switzerland, Turkey, the UK, the USA eyeing the growth prospects in Indian
market.
International
interest was also equally evident within the sector as the fair marked an
increase in international participation this year. Mr Raj Manek, Managing
Director, Messe Frankfurt Trade Fairs India Pvt Ltd shared: “We are happy to
announce that the first edition of IEE Expo under the Messe Frankfurt umbrella
has been successful in bringing the top players from the vertical
transportation sector to the Indian market facilitating business and networking
to cater the demands of a fast developing nation. Looking at the increase in
international participation by 20 % along with a list of insightful fringe
programmes planned for the three-day show, we are confident that our exhibitors
and visitors will be benefited.” Also addressing
the delegates and media present was Mr Ramesh Nair, CEO & Country Head, JLL
India.
“The major demand is expected to come from
residential and new commercial concepts like co-working spaces. By 2022, 20 %
of overall demand is expected from co-working spaces. For residential space
there’s a big opportunity going forward in terms of affordable housing with a
demand of 10 million apartments per year. He further added, the RERA act will
bring in transparency in the sector which in turn will bring in FDI”, he added.
Hon. Shri Chandrakantdada Patil Cabinet Minister of
Revenue Relief & Rehabilitation and Public Works Govt. of
Maharashtra. ” Maharashtra is the best place for
infrastructure and Expo’s such as International Elevator and
Escalator Expo held in Mumbai today will take the industry to the next level”.
The ongoing IEE
expo at Mumbai’s Bombay Exhibition Centre was inaugurated by an esteemed
panel of association heads and industry leaders like:
Mr. Deepak Garodia, VC and MD, Dosti Realty
Mr. Domninic Romell, Director, Romell Group (Secretary- CREDAI MCHI)
Mr. Dhaval Ajmera, Director Ajmera Realty & Infra Ltd.
Mrs. Sonal Shah, Chairperson of Women’s Wing- CREDAI MCHI
Mr. Ramesh Nair , CEO & Country Head, JLL India
Mr. Wolfgang Marzin, President & CEO, Messe Frankfurt
GmbH
Mr. Raj Manek, Executive Director & Board Member, Messe
Frankfurt Aisa Holding Ltd.
MCHI CREDAI takes
great pride in joining hands with Messe Frankfurt as they host the first
edition of the International Elevator & Escalator Expo 2018 bin Mumbai.
Covering technological advancements and new product developments like safety ,
speed, advanced control systems, passenger convenience & comfort, energy
efficiency features for high rise buildings, IEE expo is the perfect platform
that brings the industry together under one roof to network, discuss and
collaborate ,” said, Mr. Mayur Shah, President CREDAI MCHI.
Apart from receiving
record participation from industry leaders, the event has enjoyed tremendous
support from key associations like Government of Maharashtra as well as
key industry bodies such as CREDAI MCHI, Department of Electrical Inspectorate
in India and Bureau of Indian Standards.
About Messe Frankfurt
Messe Frankfurt
is the world’s largest trade fair, congress and event organiser with its own
exhibition grounds. With more than 2,500* employees at some 30 locations, the
company generates annual sales of around €661* million. Thanks to its
far-reaching ties with the relevant sectors and to its international sales
network, the Group looks after the business interests of its customers
effectively. A comprehensive range of services – both onsite and online –
ensures that customers worldwide enjoy consistently high quality and
flexibility when planning, organising and running their events. The wide range
of services includes renting exhibition grounds, trade fair construction and
marketing, personnel and food services. With its headquarters in Frankfurt am
Main, the company is owned by the City of Frankfurt (60 %) and the State of
Hesse (40 %). * Preliminary numbers 2017. www.messefrankfurt.com | www.congressfrankfurt.de | www.festhalle.de
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