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1.Humanising Industry 2.0

Sebi Joseph highlights how digitisation is rewriting industry and service narratives.

2.Elevating Value

New developments in the vertical mobility solutions market include elevators tailored for affordable as well as premium realty, and 24 x 7 service assurances.

3.Know how advanced technologies are gradually finding acceptance in India's elevators market

Industry estimates suggest that India has a market for 48,000 to 54,000 new elevators against China's demand for about 500,000 units a year. In fact, India is the world's second largest market for elevators but demands far fewer escalators, just around 1,500.

4.The only way is up

India is the world's second-largest market for elevators and escalators, behind China, with elevator demand expected to stand at 49,000 units at the end of this year, according to Sebi Joseph, President, Otis India.

5.We have the largest service portfolio, with about 70,000-odd units

Otis is among the world's leading manufacturer and maintainer of people movers, offering products - elevators, escalators and moving walkways - in over 200 countries and territories.

6.A New Era

Indian real estate is all set to embark on a new phase with the advent of multiple policy reforms in the past nine to 10 months, such as demonetisation, RERA, infrastructure status to affordable housing and GST.

7.Otis India strengthens its presence with a new office in Vijayawada

With a new office in Vijayawada, Andhra Pradesh, Otis Elevator Company (India) is ready to meet the growing demand in the region. The new office strengthens the company’s existing service presence and will cater to the growing demand for vertical transport solutions in the city and surrounding areas, enabling Otis to develop closer relationships with customers to better serve them. Otis, the world’s leading manufacturer and maintainer of elevators, escalators and moving walkways, has is a unit

8.The New Metro Rail Policy and investment in making 500 railway stations disabled-friendly will provide a boost to the elevator and escalator industry in the long term

The Union Budget 2017-18 aims at comprehending the dream of building a transparent and sustainable economy by providing an impetus to rural economy, road infrastructure, airports and railways, which is a welcome move. The focus on few crucial aspects like digital and black economy augurs well.

9.Going Places

With an annual market size of about 58,000 units, India is the world´s second-largest elevator market after China and the fastest growing, expanding at ´approximately 11.2 per cent annually (CAGR),´ according to Bharat Vishnani, Managing Director, Thyssenkrupp Elevator India. ´India´s escalator market is pegged at about 1,800 units per annum,´ he adds.

10.Growth Uplift

According to a United Nations report, 54 per cent of the world´s population lives in urban areas, a proportion that is expected to increase to 66 per cent by 2050. Projections show that urbanisation, combined with overall growth of the world´s population, could add another 2.5 billion people to urban populations by 2050, with close to 90 per cent of the increase concentrated in Asia and Africa.

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