Messe Frankfurt acquires IEE Expo
Messe Frankfurt Trade Fairs India announces the acquisition of International Elevator and Escalator (IEE) Expo, the fourth largest elevator & escalator fair in the world.
Messe Frankfurt Trade Fairs India, the Indian subsidiary of Messe Frankfurt Exhibition has entered into a definitive agreement to acquire the International Elevator and Escalator Expo from Virgo Communications and Exhibitions. With a well-timed launch of Electrical Building Technology show scheduled this year, the acquisition is expected to further broaden Messe Frankfurt’s participation in the building technology sector, taking the number of events organised by the Indian subsidiary to 20.
Messe Frankfurt in India has been committed to continue expanding its position and presence locally while consolidating existing platforms with new value additions for the benefit of customers. "The International Elevator and Escalator Expo is the only dedicated show focusing on elevators and escalators market in India, making it an important addition to our portfolio of b2b fairs. This acquisition allows us to strengthen our position in the building technology sector and we are excited about the new opportunities this will create for our growth," Wolfgang Marzin, President and CEO of Messe Frankfurt, said.
India is the second largest market in the world for the elevators and escalators which is growing rapidly and its significance is increasing with the vertical real-estate growth. By 2035, nearly 50 per cent of the country’s population, close to 750 million, will need to be housed in urban areas and the elevator industry will be one of the major beneficiaries of this migration to urban areas. The sector forecasts indicate growth at a CAGR of 14.3 per cent, touching 103,000 units by 2018 while the escalator market is estimated at about 1,800 units per annum.
International Elevator and Escalator Expo, being the fourth largest elevator & escalator fair in the world, has been an exclusive platform for vertical transportation industry players in the Asian region and will continue to facilitate business and networking as a niche brand in Messe Frankfurt’s Technology and Production segment from the 2018 edition. Both the organisers will continue to work closely together to enhance the exhibition experience and ensure a seamless transition for its customers and stakeholders.
The 2016 edition, organised by Virgo Communications and Exhibitions, featured 169 exhibitors showcasing the latest technology and design in elevators, escalators, components and accessories to 10,153 trade visitors across 13,000 sqm of exhibition space in Mumbai.