The pandemic affecting the real estate sector created a domino effect on the elevator and escalator industry as it is one of their key buyers. But the recent situation has also compelled the industry to manufacture a variety of gadgets and innovative solutions that will soon become the new norm considering the changing demands of modern infrastructure.
As per reports, the industry is poised to grow by USD 659.2 million during 2020-2024, progressing at a CAGR of over 9%. Touch-free buttons, gesture and voice activated sensors, sanitising systems, online or remote-controlled maintenance systems will no longer be an option of luxury but an integral part of everyday life. Factors like large-scale metro projects, steady growth in high rise buildings, commercial complexes, and need for urbanisation will continue to augment the demand for elevators and escalators in the country.
Over the years, the International Elevator and Escalator (IEE) Expo has been instrumental in providing quality solutions to the industry stakeholders, enabling them to explore new tie-ups, and find suitable partners to source components and end products.
Buyers from 27 states and union territories visited the last edition of IEE Expo in 2020, clearly indicating that the exhibition is a one-stop sourcing destination where one can meet industry experts from all over the country. Held in Mumbai, it witnessed visitors from Gujarat, New Delhi, Telangana, Karnataka, Goa, Rajasthan, Tamil Nadu, West Bengal, Assam with 3,591 buyers from Maharashtra itself.
The event saw live demonstrations of technologies like solar ELOS (a type of solar generator for elevators), hydraulic elevators for passenger and goods, pneumatic vacuum elevators and smart elevator control panels with cloud and advanced components. The show helped suppliers and manufacturers to build business connections with their targeted audience as a majority of the buyers belonged to the elevator installer sector (17%), elevator/escalator manufacturers (16%), maintenance and repair (11%), component manufacturers (10%), along with other important buying segments like builders/developers, architects, rail and metro authorities, city planners, etc.
IEE Expo’s influence on the elevator and escalator industry is evident as it sees strong support from industry associations and government bodies like the Ministry for Housing, Government of Maharashtra, National Buildings Construction Corporation (NBCC), Indian Electrical and Electronics Manufacturers Association (IEEMA), Mumbai Metro Rail Corporation (MMRC), Maharashtra Chamber of Housing Industry-Confederation of Real Estate Developers Association of India (MCHI-CREDAI), All India Lift Upliftment Federation, and Gujarat Elevator Industrial Association. Its partnership with CREDAI-MCHI attracted many real-estate moguls to witness the latest trends of elevators for their upcoming building projects.
With so many advancements entering the market, it is crucial for buyers to personally witness the benefits these technologies can provide to enhance modern infrastructural development. The show that is known to provide first-hand experience of the latest trends in elevators, escalators and components has successfully managed to keep the industry close-knit with 6,49,080 second degree connections.
The next edition of IEE Expo will be held from 16 – 18 February 2022 at Bombay Exhibition Centre, Mumbai. IEE Expo is a part of the Building Technology segment that also hosted the E2 Forum in India. The globally renowned conference was supported by a powerful advisory committee that comprised of decision makers from leading elevator and escalator OEMs like Bharat Bijlee, Kone Elevators India, Fujitec India, and Thyssenkrupp India, along with key real estate players Ajmera Realty & Infra Ltd and the Runwal Group, apart from industry partner MCHI-CREDAI.
IEE Expo has delivered 8 successful editions in the past and each new edition will continue to be a source of information on the latest products and technologies. Its advisory board conceptualises themes that are future-oriented, relevant to the changing times, and of benefit to buildings of all types and sizes.
