Crystal Ball Gazing and Forward-Looking Statements

Whenever someone poses the question “In which direction is the vertical transportation (VT) industry in India headed?” at an industry forum, I do my best to keep a straight face while providing the obvious, one-word response – upwards. It is not just the major metros that have witnessed a surge in high-rise development and malls; even the Tier 2 and 3 cities are experiencing the same trends. 

The demand for VT in India has indeed spread far and wide, covering practically the entire spectrum of real estate, as well as a significant chunk of connectivity infrastructure. That, in effect, sums up the Q3 2023 issue theme, “Growth Drivers Elevating VT in India.” As we take a closer look at the factors that will impact its development going forward, it is clear that there are quite a few additions. 

From the older buildings and railway stations that didn’t have VT to begin with, or those structures where attempts to save a buck by opting for the lowest priced unbranded models have resulted in people using the stairs more often than elevators, the candidates that will be driving demand for new elevators across India are truly manifold.  

Development and redevelopment are simultaneously recreating the skyline on a daily basis, with skyscrapers coming up at an even faster pace in the post-pandemic era. Metro networks are coming up rapidly, and due to them, the related demand for VT from the connectivity infrastructure segment is literally progressing on the fast track. New airports are coming up, as well, to provide the proverbial icing on the cake.   

So, the next logical question is “Where’s the cherry on top?” Well, that is where technology advances and their adoption come into the picture. From the integration of VT within buildings’ mobility systems and ensuring that the people flow is more efficient due to proactive maintenance and remote monitoring, the quest for easier access, a smoother ride and faster arrival to the destination are facilitating the selection of top-of-the-line models or upgrades to a higher level at a later stage.

The question is not really “In which direction is the VT industry in India headed?” as that is a given. The only aspect that needs to be analyzed or calculated is the speed at which it is headed upward!