Indian Elevator industry:Growth and Future Aspects

India has witnessed tremendous growth in residential complexes, hospitals, IT parks, educational institutions, laboratories, airports, corporate offices, and government buildings. This is putting enormous pressure on the resource demand such as energy, water, materials, and cost. The boost in Indian construction sector and urbanization after the financial crisis has created a huge demand for elevators. With millions of people relocating to cities each year there is an increasing scarcity of land and buildings growing taller resulting into the high demand of elevators. Elevator companies are increasingly focused on offering complete and reliable solutions looking at the rapid increase in diversity and growth in Indian realty market.

Five years ago the situation was very different. The elevator  business in the country had slumped, following the slowdown in the real estate market. Manufacturers had to bide time for a recovery, as their fortunes are linked to home sales, especially high-rise residential apartments. Almost 60% of projects that were launched before 2008 in cities like Mumbai, NCR, Chennai and Bangalore, were delayed by more than two years, But many of these projects are finally reaching the end of the construction cycle. 

India has continued to register economic growth of 5-6 percent in the last 2-3 years, despite the global recession. Owing to this growth, the real estate market in India is expanding at a fast pace. Real estate projects in India that touched USD 100 Billion in 2010 is expected to touch USD 265 Billion in 2020. But this year growth rate is again slumped down and direct effect can be seen on elevator industry also. Adding to growth of the real estate market, the Government’s push to improve infrastructure in the 12th Five Year Plan (FYP) has also been a major boost to the elevators and escalators market. The Government of India has approved the 12th FYP that aims to achieve an annual average GDP growth of 8.2 percent between 2012 and 2017. Although this GDP growth has been downgraded in the recent past to 4 percent. That is big concern for real state market and elevator market also.

"There has been growth in demand from tier II & III cities and we do not envisage any delay in smaller projects. Rescission is affecting real estate market also  effect is not that much strong as like three years ago  but as the realty market changing  it will affect  our margins but not the volumes," Said Mr. Sahadevan  - DGM sales and marketing Escon Elevators.

Currently, metros like Mumbai, Delhi-NCR, Bangalore and Chennai, drive the demand for elevators with a 60% share while the rest comes from smaller towns like Bhopal, Nagpur, Indore, Aurangabad and Surat, where the real estate business has been growing.

One of the key Mega Trends unfolding in India is Urbanization. Under this, the four main trends are: development of Mega Cities, Mega Regions, Mega Corridors and Mega Slums, which is anticipated to give a strong impetus to the elevators and escalators market. Frost & Sullivan estimates that this trend will have a sustained impact and set the stage for visionary innovation, transformation of societies, markets and cultures.

India is expected to have 25 Mega Cities with a population of 8 million or more and a GDP of USD 250 million.  When cities combine with suburbs or other nearby cities, Mega Regions are created.  India is expected to witness the creation of four Mega Regions by 2025, each with a population of over 15 million.  Few notable Mega Regions would be:

· New Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad with a combined population of 28.5 Million

· Mumbai and nearby towns of Bhiwandi, Kalyan, Thane, Ulhasnagar together with a population of 34.4 Million

This expansion will definitely affect Real estate market in positive manner and when Real estate market will grow in a high pace elevator industry will also grow simultaneously. 

Currently the elevators market in India is clocking sales of about 40,000-45,000 units per year, compared to 14,000-15,000 units 10 years ago. The strong growth witnessed in the residential real estate segment is boosting this market. "The residential real estate segment contributes to more than 50 percent of elevator sales in India. With several cities and state governments pursuing reforms to relax norms for environmental clearances, higher multi-storeyed buildings on smaller roads and lanes will soon become a reality. High-rise apartments are being touted as a panacea for rapidly overcrowding cities and the elevators market is expected to grow at 15-17 percent in the next 5-7 years", said Frost & Sullivan's research analyst.

The commercial segment, particularly office space and mall space, has remained flat and shown signs of slowdown in the recent past. However, new office space, malls, hospitals, hotels, and residential projects will be back on track once the credit rates and inflation soften. In major cities, horizontal growth is limited and municipal corporations are finding favor with construction of high-rises, augmenting elevators and escalators market.

The Indian elevators and escalators market has enough space for all major manufacturers in this sector to grow and succeed. In this scenario the best practice would be to undertake a comprehensive market due diligence investigation covering industry analysis, customer analysis, and competitor analysis before embarking on a long-term strategic road map.

Positives Of A Home Elevator

A home elevator is a source of ultimate comfort and convenience for disabled and non-disabled people. This device is used to relieve homeowners who lead stressful lives. An elevator is particularly useful in moving heavy items from pianos to furniture. It is an ideal addition to an old-fashioned or newly constructed house. Residential Elevator providers will find the best design that matches the style of any home. Learn about the benefits of owning a home elevator system.
The main benefits of an elevator include convenience and ease of use. It is a reliable way to move easily between floors. In some cases, using an elevator is wiser than using the stairs. For disabled people, one fall can lead to a severe, long-lasting injury. Also, a home elevator usually frees up space that can be used for other endeavors. Even if you have a basic home, install an elevator without making significant changes to the overall structure. Residential Elevator professionals know how to look over your house and build an ideal system that either stands out or blends into the background.
Advanced safety is another benefit. For a safe ride, designers incorporate features like alarms, lights, rails, phones and an emergency stop system. Door interlocks stop the door from opening and closing when the elevator is moving. An emergency lowering system becomes effective when it stops working. If you want a home elevator  unit, know about all the advanced safety tools.
Tax benefits are available to some owners of home elevators. If you use this system for a medical condition, you may be able to reduce certain taxes. Contact a tax lawyer if you want to find the specific rules for a deduction.
An elevator is guaranteed to improve the financial value and unique style of a house. Choose a system that is quiet and simple to maintain. It should also be user-friendly so that anyone can use it with ease. Improve the lives of all residents with the use of a reliable home elevator  system. Contact Escon and they will help you choose the best system for your needs.

ESCON: Products*

Inclined Auto-Walk:

The Escon Autowalk provides high level of comfort and security. It allows easy and safe access to all parts of the building, even when moving with a  loaded cart or trolley. Maximum safety is built into the design of the Escon Inclined Autowalk  and ensured through various testing process under real on-site conditions. The Escon range of moving walkways form integrated horizontal and  vertical transport systems that will enhance bot h the appearance and operation of any building or infrastructure development. A wide range of finishes and materials are available according to your need  and budget. Features Elegant timeless design that complements the architecture of any building Smooth ride with synchronized handrail speed to maximize safety Numerous lighting options that guide the customers and enhance the shopping atmosphere Advance control system for more safety and availability. Fast and effective troubleshooting through built-in diagnostics Environmental and fire safety options. Least maintenance required. The simple and fashionable streamline appearance.

ESCON: Fun Theory

What Workers Want: Employer Branding in a Rebounding Job Market...

"An employer brand is a billboard for the organization, and the importance of this public sentiment goes beyond recruitment efforts," said Jim Link, managing director of human resources for Randstad US. "Clearly, company reputation impacts attractiveness among potential candidates. It is also clear a strong employer brand will further drive bottom-line results by creating a stable workforce, increasing productivity, and engaging key stakeholders. This affects all aspects of the organization, and when managed effectively, can elevate leadership and visibility within the company's industry."

In order to help employers learn how to develop and deliver on this brand promise, Randstad took a closer look at what workers expect and want from a prospective employer. Key findings include:

Show Me The Money...And, Give Me Security And A Nice Working Environment

Top Three Factors in Choosing a New Employer

1.     Competitive salary and benefits

2.     Long-term job security

3.     Pleasant work atmosphere

Over the last several years, many Americans have witnessed or personally experienced salary freezes, temporary furloughs, layoffs, and even long periods of unemployment. Given these recent strains, along with continued unease around the state of the economy, it may come as no surprise that US workers seek financial security first and foremost. Even so, money isn’t everything. A pleasant work atmosphere follows closely as one of the top factors in choosing a new employer.

It’s All About R-E-S-P-E-C-T

• A majority of workers want recognition for their good work (52 percent)
• Around half of employees tout the importance of open and honest communication (51 percent)
• Forty-nine percent of America’s workforce wants the respect of their colleagues

A pleasant work atmosphere is linked closely with job recognition, open communication, respect, and even fun and friendship. A good first step in building and sustaining an employer brand is to craft a culture that values employees, recognizes their contributions, and celebrates successes. Encouraging social connections among workers will not only nurture a sense of team spirit, it will also strengthen and solidify a feeling of shared commitment and accountability.

Pique the Interest of Peak Talent

• Just over half of workers find a job interesting when it makes good use of their existing skills
• Even so, 43 percent of employees are interested in the acquisition of new skills
• For 39 percent of US workers, a job is considered “interesting” when new ideas are valued

People seek employers that offer the opportunity to acquire new skills while making use of their existing capabilities. In order to attract and retain top talent, companies must provide an avenue for continued learning, whether through traditional training channels or participation in cross-functional teams and activities. Supporting professional development initiatives and fostering career advancement will go a long way in retaining talent and maintaining a high performing workforce.

Spread the Word

Employers should research what people are already saying about the company when drafting a blueprint for their employer brand. In a social media age, word of mouth communication is both accelerated and amplified. Company decision makers should use these digital conversations as an informal focus group and consider what’s being said online as a benchmark for their brand value. Employers can facilitate positive social mentions by encouraging current employees to serve as brand ambassadors. Additionally, engaging in dialogue with potential candidates will create an online talent community, which will establish a pre-employment connection with prospective employees.

A strong employer brand not only attracts high performing talent, but it also promotes retention, creates a stable workforce, and increases organizational success. Moreover, high retention rates reduce search and selection costs and help employers more effectively manage their cost structure, driving the company’s bottom line. With a strong employer brand that clearly defines and delivers on its promise, organizations can attract and retain great talent, enhance productivity, and elevate market leadership.

Survey Methodology

Randstad’s Employer Branding survey is based on perceived attractiveness of companies amongst 7,000 students, employed and unemployed workers between the ages of 18 and 65. Samples are based on national demographics with a slight emphasis on respondents aged below 40, as potential job seekers, or those most likely to be in the job market, are the target audience of the survey. Each sample is representative of age, region, gender and education.

Respondents are invited by means of online interviews to select the companies they know from a random list; each company is set to appear approximately 1,500 times at random during the entire survey.

The margin of error on a sample of 1,500 is plus or minus 1.245 percentage points at the 95 percent level of confidence. This means that there is a 95 percent chance that the responses of the target population as a whole would fall somewhere between 1.245 percent more or 1.245 percent less than the responses of the sample (confidence interval of 2.49 percent on the worst case percentage of 50 percent).

For the Award, the attractiveness of the company is defined by the number of people that like to work for a company compared to the number of respondents who know the company (not the total sample); the higher respondents’ awareness of a company, the more observations can be measured for this company.

ESCON: Info

EXTERNAL OBSERVATION ELEVATOR...

 

ESCON: Products

Commercial Escalators

   ESCON is one of the reputed names engaged in offering commercial escalators. Appropriately designed to suit the specific requirements of the clients, our escalators are made in compliance with the highest quality standards. Widely used in malls, restaurants, metro stations, airports and various other places, our escalators enhance the look of the place and building. These are customized and installed by us, at most competitive price.

  Product Features

• Indoor or Outdoor
• Speeds up to 120 ft/min
• Balustrade Styles Include Stainless Steel, Bronze, Brass, Glass, Ambient Glass 
• Painted steps in silver & black
• Floor Plates in Aluminum and Stainless Steel
• Step widths: 610-, 812- and 1016-mm
• Over 30 Included Safety Features

  Commercial Installation

  We work co-ordination with your architect or general contractor to ensure that all specifications, requirements, dimensions and design elements are met for the installation of your new elevator.

  ESCON Elevators Supervisor will handle the co-ordination of the entire installation process and ensure that it is completed on time and quality process. Our courteous, professional team of installers will arrive promptly, complete the installation in a timely manner, thoroughly check your new elevator's operation and perform a quality evaluation.

  To keep your new elevator system efficient, reliable and safe, ESCON ELEVATORS Maintenance Program will provide a trained and experienced technician on the job to make certain your system is well-maintained and operating properly.

ESCON: Fun Theory

 According to an article on the Travel+Leisure Magazine blog, the walls inside the elevator are decorated with nightclub-ready LEGO characters, a strobe light hangs from the ceilings, and when the doors close, the lava floor panels light up and the music kicks in: ABBA, the BeeGees, the Village People.  Has your mind already visualized that?  Well, if you are having a hard time because it’s too early in the morning, too late in the afternoon, or has just been “that kind of day”, then you are in luck.  Just view the video below for the full effect.