Johnson Lifts to invest ₹300 cr in R&D, expects 12% residential growth

Johnson Lifts eyes rising home lift demand, plans Rs 300 crore R&D spend and introduces Eazy Ride Plus to tap into India's growing retrofit and premium lift market

India’s elevators and escalators industry is valued at around Rs 15,000 crore. Johnson Lifts, which holds around 20 per cent of the Indian market, said on Tuesday that the residential segment is expected to grow at a rate of 10–12 per cent per annum over the next five years, while the commercial segment may grow faster, further adding to industry growth.

 

“At present, the industry is valued at around Rs 15,000 crore in India. Of this, the residential segment (mainly elevators) is expected to grow at a rate of 10–12 per cent per annum in the next five years,” said V Jagannathan, Managing Director and Chief Executive Officer, Johnson Lifts. The company is also planning to invest around Rs 300 crore in research and development over the next two to three years.

 

 

Johnson Lifts holds around 20 per cent of the organised market despite decades of competition from major multinational manufacturers. Some of its more prestigious installations in India include the New Parliament House, Statue of Unity, metro and railway stations, airports, AIIMS hospitals, IITs, IIMs, and leading commercial and educational institutions.

 

 

The company continues to grow at a rate of 5 per cent annually. It operates four manufacturing facilities located at Poonamallee, Oragadam, Sengadu and Nagpur. As the only Indian elevator company with four full-fledged factories, Johnson offers superior scalability, regional reach and customisation capabilities. Driven by its R&D innovations, the company is indigenously developing high-speed lifts (up to 4 m/s) and is certified to IS 17900 for its production facilities.

 

Yohan K John, Director, Johnson Lifts Ltd, said, “We are optimistic about the growth in the industry and look to invest into the future of our operations. We have just concluded the expansion of our Nagpur unit and opened a new office in Noida, for a total cost of Rs 54 crore. We will also be expanding the existing facility at Sengadu. We see R&D as an integral part of our leadership in this market and will be upgrading our R&D unit with an investment of Rs 250 crore to develop and test lifts with speeds exceeding 4 metres per second.”

 

“As part of our strategic expansion into this segment, Johnson Lifts unveils its latest offering: Eazy Ride Plus, a bespoke elevator designed for existing villas and indoor applications. This product bridges a critical market gap in the premium segment with features like silent operation, reduced pit depth, premium finishes and lower installation time, while being energy efficient. Eazy Ride Plus caters to India’s growing residential retrofit market—lifts for existing houses—which comprises up to 80 per cent of current demand for home lifts,” Jagannathan added.

 

Johnson’s global footprint is expanding with a growing presence in 11 countries across the Middle East, Africa and South Asia, including standout projects such as Dubai Expo 2020 and Skywalk Tower Nepal. Its portfolio includes over 1,93,000 elevators and over 7,000 escalators installed across India, supported by 210 service centres and a pan-India network of over 80 branches.