Elevators to New Heights: The Skyscraper Revolution in Indian Metropolises

The skyline of the Indian market has seen remarkable changes in recent years, primarily driven by the rise of skyscrapers that have not only pushed the limits of architectural design but also energized growth within the elevator industry. The use of prefabrication and modular construction transforms how buildings are erected by minimizing time and waste through the offsite assembly of components. In this evolving landscape, innovative elevators like TWIN are playing crucial role by catering to the needs of taller, more densely populated structures.
TWIN is the world’s first elevator to have two cabins operating independently in the same shaft. This means that it is capable of transporting up to 40% more passengers while requiring 25% less of a building’s valuable floorspace than conventional mobility solutions. TWIN has opened new design concepts for architects and given owners significant savings on the energy used in a building.
Emerging Urbanization and Skyscrapers
According to recent data from the World Bank Group, India is among the fastest-urbanizing countries globally. By 2036, an estimated 600 million people-approxi-mately 40% of the population-will reside in urban areas, up from 31% in 2011. These urban centers are projected to contribute nearly 70% of the nation’s GDP. This rapid urbanization is driving significant real estate development, particularly in metropolitan cities like Mumbai, Delhi, Bengaluru, and Hyderabad. An Anarock report further reveals that the Mumbai Metropolitan Region alone had 154 completed towers exceeding 40 floors by 2023, with an additional 207 towers expected to be completed between 2024 and 2030—a remarkable 34% increase.
Technological Advancements in Elevators
The elevator industry itself has made substantial technological advancements. Innovations like machine-room-less (MRL) elevators, energy-efficient systems, and smart controls have surged in popularity, enhancing vertical trans-portation efficiency while significantly decreasing the carbon footprint of buildings. According to SNS Insider, the smart elevator market was valued at approximately USD 14.75 billion in 2023, with expectations to soar to USD 32.58 billion by 2032, reflecting a compound annual growth rate (CAGR) of 9.21% from 2024 to 2032.
Market Dynamics and Economic Factors
Several market dynamics and economic factors are propelling the elevator industry’s growth within the context of skyscrapers.

• Real Estate Boom: The Indian real estate market is projected to reach USD 1 trillion by 2030, largely attributed to the development of skyscrapers. As vertical living becomes increasingly common, there is a direct correlation between the growth of the elevator industry and real estate trends.
• Government Policies: Initiatives like the Housing for All scheme, the Smart Cities Mission, and the Make in India campaign have sparked infrastructure develop-ment, leading to accelerated skyscraper construction. These policies promote investments in high-rise buildings, thereby increasing demand for modern elevators.
• Safety and Regulations: Evolving regulatory frameworks around building safety have necessitated the adoption of advanced elevator technology. Compliance with fire safety regulations, accessibility standards, and energy-efficient guidelines has driven developers to invest in state-of-the-art elevator systems.

The rapid urbanization of Indian cities, coupled with ongoing technological advancements and supportive govern-ment policies, is reshaping the landscape of skyscrapers and the elevator industry, making them integral to the future of urban living.

Conclusion
The rise of skyscrapers in Indian metropolises is more than a mere architectural trend; it signals a wider economic and social evolution. As urbanization accelerates and the demand for vertical living spaces rises, the elevator industry is set to soar alongside. With technological advancements and favourable government policies driving growth, the future of the elevator market in India appears bright.

TK Elevator India
Web : www.tkelevator.com/in-en