Construction Industry News
Otis Elevator Company India Limited is expecting an increase in demand for elevators on the back of an increase in housing sales and the push on investment for the government in infrastructure.
India is the second-largest in the elevator market after China, and the residential segment accounts for almost 80% of the Indian market, said Sebi Joseph, President of Otis India.
He said that the elevator market is expected to increase in the coming years, and major drivers for it would be residential and infrastructure. Although infrastructure contributes only 5%, it is growing with the pushing investment of the government.
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