IEE Expo 2020: Indian elevator and escalator industry to grow at CAGR of 7%
The show saw eminent members from the government and industry showcase latest solutions for vertical transportation
The current edition of International Elevator and Escalator (IEE) Expo 2020 received strong participation from countries like India, Germany, the Netherlands, Spain, and Turkey. The bi-annual show scheduled in Mumbai hosts 135 companies witnessing an array of high-end solutions to help leverage the progressive sector of building technologies.
The grand inauguration was attended by eminent members from the government and industry like: Dhirajkumar S Pandirkar, chief engineer, MHADA; SR Nalavade, superintendent engineer – energy department, government of Maharashtra; Sebi Joseph, chairman, elevators & escalators division, IEEMA and president, Otis Elevator Company (India); Nakul P. Mehta, VC & MD, Bharat Bijlee; R Rajaraman, VP, Bharat Bijlee; Sandeep Shah, assistant VP (head commercial contract and procurement), Omkar; TD Joseph, business head, CREDAI-MCHI; and Raj Manek, executive director & board member, Messe Frankfurt Asia Holdings.
The inauguration soon turned into a gripping session highlighting the latest elevator market trends from a global and domestic perspective. Topics like market trends, geographical product affinity, customer outlook, reasons for market growth and details on the current real estate scenario were shared with the members of the media and other attendees.
Industry expert and consultant, V Jagadish Kumar, director, L’Avenir Consultancy, shared: “Elevators are no more considered to be a luxury but it has become a regular commodity in our lives. Globally, there are nine lakh elevators sold per annum with India being the second largest market in the world. The country has seen an exponential growth of 7-8% and by the next decade, we expect the industry to grow atleast 20%.”
Also, throwing light on the real estate scenario which is a major market for the elevator and escalator industry, Pandirkar shared: “The industry will get added impetus by government housing schemes like Pradhan Mantri Awaz Yojna for the affordable housing sector. The target for the scheme is 19 lakh houses and to support this project and allow smooth vertical mobility, the development of this sector is requisite. With many infrastructural projects in the line, technologically advanced elevators and escalators have become a necessity in the country.”
A meeting ground for the elevator and escalator industry
The leading show is an epicentre to meet and network with prominent component manufacturers, suppliers, OEMs, builders, architects and government officials. Companies like IndiTech Systems, EPIC Elevators, Delta PD Pumps, Spectra Controls, ISTS Inc., Rudraksha Electricals, KY Industries, RITEOHMS (R. B. E Electronics), Tedra Automotive Solutions and Bestomech Industries are some of the companies displaying advanced solutions at the show floor.
Along with the companies displaying technological advancements, top brands at the show include Arkel, Akis Motors, ADCO, Bharat Bijlee, Butkon Asansör, Blain, Canny Elevator, Çelik Ray, EC India, Epic Elevators, Fermator, Genemek India, Inova Automation, Giovenzana, Kinetic, MAS Industries, Marazzi, Montanari, Mahabali Steels, Mayr, Mona Drive, Sigma, Sicor, Raloe India, NBSL, Tectronics, and ZIEHL-ABEGG.
Day two of the show will host a series of seminars and panel discussions throwing light on important topics like the Indian elevator market, future design and developments of energy efficient gearless permanent magnet synchronous machine for elevators, safety updates for the sector and guide rails. The knowledge-oriented sessions will be organised by experts like Vinay Patwardhan, deputy GM, applications engineering, Bharat Bijlee; Anurag Misra, GM, Raloe; and Kumaraswamy, MD, Monteferro to name a few.