In 2011, Stone India looked beyond its conventional Railway Equipment business and introduced Platform Screen Door System to Indian Metro Rail market and achieved success with a prestigious project at Delhi Metro Rail Corporation. This transformation is being looked as a big leap for the company to become a completed system supplier.
On its mission to grow in aforementioned strategic approach and simultaneously looking beyond the conventional railway business Stone India introduced another engineering item which is related to infrastructure development of varied applications and market segments, they are Escalators and Elevators.
India has continued to register high economic growth in the last 2-3 years, despite the global recession. Owing to this growth, the real estate market in India is expanding at a fast pace. Real estate projects in India is expected to touch USD 265 Billion in 2020. It will continue to grow on the back of strong drivers such as high disposable incomes, young workforce, and large base of middle-class households.
Analysts find that the major drivers for the growth of elevators and escalators market are increase in commercial space such as office, retail, and hospitality, demand from new housing units and infrastructure development. One of the key Mega Trends unfolding in India is Urbanization. Under this, the main trends are : development of Mega Cities, Mega Regions, Mega Corridors and Mega Slums, which is anticipated to give a strong impetus to the elevators and escalators market.
Development of monorail, light rail, metro rail, and modernization of existing airports and railway stations, and construction of new airports is expected to gain pace. This also heralds good news for the elevators and escalators market, which would have widespread applications in these projects.
It is extremely important to assess the product quality that is important because escalators & elevators are considered to be a safety device by all means across the world – Stone India is committed to deliver high quality products to create safe vertical transportation solutions.