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ELEVATORS & ESCALATORS
LEAD STORY

Scaling Heights

Just like every other industrial segment, Covid-19 pandemic has also
negatively impacted the elevator and escalator market as the sales
and demand for the product saw a significant decline. As the global
economy and especially Indian economy is getting back on track,
the demand for the products is slated to increase with the construction
industry and allied segments working in full force to nullify the prolonged
impact of the pandemic. The elevator and escalator market has the
potential to grow by 142.05 thousand units during 2021-2025.
The rapidly growing popularity of smart elevators and their augmenting
demand will drive the growth of this segment in the near future writes,
PRERNA SHARMA.

Globally, revenue generated by the elevator to achieve green building certifications
& escalator market was valued over US$31.6 such as Building Research Establishment
billion in 2020, which is expected to expand at Environmental Assessment Method (BREEAM)
a CAGR of 7%, in terms of value in the future. and Leadership in Energy and Environmental
With the growth of the global construction Design (LEED) for their projects. This increased
market, construction companies around focus on reducing overall energy consumption
the globe are focusing on reducing their levels is aiding the growth of the elevators and
energy consumption levels and also planning escalators market.

82 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2022