26 March 2019

Editor's Space



Under the census definition, 31 per cent of the Indian population lived in urban areas in 2011. This growing population and the declining ground space has given rise to vertical construction with the country advancing to the stage of ultra-high-rise development spanning at a height of over 300 metres.



According to the Report of the Technical Group on Urban Housing Shortage (2012-2017) (Ministry of Housing and Urban Poverty Alleviation), Rural Housing for XII Five Year Plan (2012-2017) (Ministry of Rural Development, Government of India, 2011) and KPMG analysis in India (KPMG, 2014), the development of this ambitious program requires about 11 crore houses by 2022 with investments of over $2 trillion. The urban housing accounts for about 85-90 per cent of the total investments and affordable housing requirement is about 70 percent of total investments. To meet this huge urban housing demand, precast concrete construction industry can play a crucial role.



Along with high-rise handlers grows the need for elevators. India is witnessing the arrival of a new generation of elevators which have been equipped with innovative technologies offering energy efficiency, cost-effectiveness, and 'smartness'. Increasing urbanization, growing demand for high rise buildings and rising government initiatives such as smart cities and AMRUT cites drive the elevators and escalators market in India.



The movement in the equipment market has propelled the lubricants sector as well. India’s ECE market is projected to grow at a healthy CAGR of 20-25 per cent over the next few years, bringing the market to between $16 billion and $21 billion by 2020. Based on this there will be a concomitant rise in demand for heavy duty lubricants and engine oils in India. The Indian lubricants market size is expected to witness growth over 11 per cent , in terms of revenue. The automotive engine oil market revenues are expected to grow at the CAGR of 19 per cent till 2018.



With so much movement in high rise construction and a feel good factor across sectors the coming years are going to take India to new heights.



Have a wonderful read!


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