Industrial ProductsElevators & Escalators

L&T Technology Services (LTTS) offers customized elevator and escalator solutions which are completely aligned with local and global compliance standards, enabling manufacturers to reduce time-to-market significantly. Our value engineering services ensure products are optimized for cost, and customers can deploy innovative, eco-friendly solutions.

STATE OF THE MARKET

The global population is steadily growing at a rate of 1.13% every year, driving real estate, urban development, and housing markets worldwide. The APAC region alone is home to 60% of the world’s population, and is witnessing a sharp rise in the demand for high rise apartments and smart housing mobility solutions. Consequently, the elevators and escalators market is poised to grow at a CAGR of 6.01% to reach $125.22 billion by 2021. Escalating demand can be marked up to two segments of the end-user industry—residential and commercial. Over the next 5 years, the residential segment is expected to drive primary demand with property developers quickly adopting intelligent, energy efficient, high rise mobility solutions. The commercial sector is likely to be the second-fastest growing segment due to the expanding number of business spaces and shopping malls. However, government and regulatory bodies have been consistently pushing elevator and escalator manufacturers to adhere to stringent quality and safety standards. Not only does this add to the growing complexity of modifying solutions, it also restricts manufacturers to operate within delimited geographies. Moreover, existing mobility products also need to be upgraded and integrated with smart technologies to reduce energy consumption, improve ride quality, and diminish downtime.

SERVICE OFFERINGS

L&T Technology Services (LTTS) offers customized elevator and escalator solutions which are completely aligned with local and global compliance standards, enabling manufacturers to reduce time-to-market significantly. Our value engineering services ensure products are optimized for cost, and customers can deploy innovative, eco-friendly solutions. Additionally, our technical documentation, and regulatory and certification support help manufacturers to deploy market-ready solutions across geographies in record time.

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BENEFITS

  • Minimize carbon footprint by harnessing energy efficient solutions and smart power management tools.
  • Reduce time-to-market and ensure product quality with our remote monitoring and analytics  solutions.
  • Align products to local market requirements by maximizing on our R&D and design capabilities.
  • Design building mobility solutions in line with established regulatory and safety standards.

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L & T Technology Services

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