Annual elevator sales is nearing one lakh units, driven by rapid urbanisation and high-rise construction
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India’s elevators and escalators sector, among the world’s fastest-growing vertical mobility markets, has called for a unified ‘One Nation, One Lift Law’ to improve safety, simplify regulations and enable sustainable growth.
With annual elevator sales nearing one lakh units, driven by rapid urbanisation and high-rise construction, the need for a national framework has become critical.
Elevators account for nearly 97 per cent of vertical mobility installations, with 65–70 per cent demand from residential real estate, 25 per cent from commercial developments and 10 per cent from infrastructure projects, including airports, metro stations, hospitals and public buildings. However, fragmented state lift laws continue to create compliance inefficiencies.
Industry leaders, policymakers, regulators and global technology providers will deliberate on a national framework and the future of vertical mobility at Smart Lift and Mobility World 2026 expo to be held on February 5.
Amit Gossain, MD, KONE Elevators said the harmonisation of lift rules into a single national code will ensure uniform safety standards and faster adoption of new technologies.
Industry leaders estimate that a national lift law could boost productivity by 20–25 per cent, promote manufacturing localisation and enhance export competitiveness by aligning India with global standards. The move would also benefit thousands of MSMEs and skilled workers across manufacturing, installation and maintenance through uniform licensing and certification norms, he said.
Anita Raghunath, Director, Virgo Communications, organisers of Smart Lift & Mobility World, said the event serves as a collaborative platform for shaping the future of vertical mobility by bringing together policymakers, developers and global technology providers to discuss future-ready urban mobility she added.
India’s elevator and escalator market stood at $14.6 billion in 2024 and is projected to reach $22.2 billion by 2033, growing at a CAGR of 4.3 per cent, according to IMARC.
“By 2030, over 40% of India’s population will live in urban areas, accelerating the need for robust vertical infrastructure,” said Nakul Gupta, Senior Consultant, IMARC Services.
Published on January 26, 2026
