Bangladesh’s Elevator Market Grows 10% Annually

Industry: Equipment & Accessories

The elevator market in Bangladesh, valued at Tk 1,500 crore, is expanding by 10% annually due to rising residential and commercial developments, though 70% of demand is still met through imports. Exhibitions at ICCB are showcasing around 150 local and foreign companies. Walton and Pran-RFL are strengthening the local sector, with Walton meeting 15% of the market demand and Pran-RFL’s Property Lifts producing its brand since 2020. Despite local progress, popular brands like Fuji, Sigma, and Kone dominate imports. As global market growth accelerates, policies are needed to boost local manufacturing and attract foreign investment.

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