Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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Due to rapid urbanization, Elevators and escalators are likely to see a great spike in demand due to an increase in the number of contemporary malls, high-rise buildings, metro railway stations, etc. Demand for larger and better-equipped apartments worldwide, has been boosted by the rise in the purchasing power of the middle-class population.

An efficient method of transportation between floors is necessary since the amount of energy used by elevator and escalator systems ranges from 2% to 10% of the total building energy consumption. As a result, energy-efficient solutions are being used in green buildings across the globe.

The trends in elevator design are always changing. In recent years, the elevator business has seen a rise in the use of “greener” or more environment-friendly elevators.

There has been a growing interest in reducing energy consumption in buildings, and this trend is projected to be a major priority for elevator companies throughout the world, working together to create new technologies and designs that are more sustainable and less energy consuming. An increasing emphasis on technical and environmentally friendly components of elevators is expected to be a focus of the market in 2022. Elevators, on the other hand, will be the primary emphasis. A more sustainable lifestyle and a smaller environmental imprint are attainable, thanks to advancements in technology.

Commercial, residential, hospitals, and other end-use sectors are driving the elevators and escalators market’s rapid expansion. Because of the increased need for fast public transportation and the increasing emphasis of governments on infrastructure development, the elevators and escalators industry is likely to rise. Elevators and escalators are also predicted to be in high demand due to the expansion of public infrastructure, such as train stations, airports, and shopping malls.

India is the second most important market for elevators and escalators. The requirement for smart and efficient technology to enable development will expand as urbanization increases the demand for homes. As a result, ‘green’ elevators, which employ non-regenerative motors and may cut energy usage by up to 75%, are in high demand. This elevator may be made more energy-efficient by incorporating VF drives into the door system and elevator control system. This improves energy efficiency by allowing far more precise power control. Indian cities are seeing a surge in the development of mid and high-rise structures, which is driving demand for high-speed elevators. Elevator manufacturers are continuously working on new models with energy-saving regenerative drives that feed power back into the building since speed increases consumption in the same way. Manufacturers must provide economical elevator models to suit the need of price-sensitive sectors in the lucrative Indian market.

More energy-efficient and secure elevator systems are in store for the future. The advent of the digital age has provided new opportunities for the sector, and the advances it has brought about have had a tremendous impact.

High quality elevators are being produced by elevator manufacturers that are exceptionally energy efficient. There are newer traction elevators that not only consume less energy but are also considerably smaller, more efficient, and even produce power that a facility may utilize, making them more environmentally friendly than older models.

In the future years, India’s building automation market is expected to develop rapidly due to the emergence of smart cities and the consequent rise in urbanization. There will be a lot of opportunity and demand for energy-efficient elevators as a result of this growing need. Perhaps India will be able to produce energy-efficient technology in the near future.

Authored by – Amit Gossain, Managing Director, KONE Elevators India

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members