Page 32 - Construction_Opportunities_February_2026

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COVER STORY
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ANNIVERSARY
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TK Elevator continues to deliver game-

changing innovations that go beyond

conventional hardware.

TK Elevator offers a comprehensive range of mobility products and services, including passenger, freight
and panoramic elevators, for both low and high-rise properties, its commitment to quality and innovation
covers the entire life cycle of elevators, escalators and moving walks. In an exclusive interview to
CONSTRUCTION OPPORTUNITIES, MANISH MEHAN, CEO & MD, TK ELEVATOR (INDIA) PVT. LTD, gives an
overview of the Indian elevator & escalator industry, innovative technologies and a lot more.

Give us an overview on the Indian Elevators & Escalators market, latest
technology trends and market dynamics.
India’s elevators and escalators market continues to be one of the
fastest-growing and most dynamic segments of the built environment,
driven by rapid urbanisation, rising high-rise construction, expanding
infrastructure and increasing demand for smarter vertical transport.
According to a recent industry report by IMARC Group, the combined
Indian elevator and escalator market was valued at approximately USD
14.6 billion in 2024 and is expected to grow steadily through 2025–26,
supported by sustained construction activity and the increasing
adoption of digital and connected technologies. Near-term forecasts
suggest the market could expand at an annual growth rate of around
6 percent, driven by rising new installations and growing modernisation
demand across residential, commercial and public infrastructure
segments.
Market growth is underpinned by several structural drivers: rapid vertical
real estate development across Tier-1, Tier-2 and Tier-3 cities; large-
scale infrastructure programmes such as metro rail networks, airports
and transit hubs; and government initiatives like Smart Cities and
affordable housing that are accelerating demand for reliable vertical

32 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2026