Lift business booms, sans safety regulations

Bangladesh sees lift market making quantum leaps, but largely unregulated to raising  concerns about safety of users, according to industry-insiders.

The market, worth around Tk 12 billion, is dominated by imports which account for around 70 per cent. The rest is supplied by two local suppliers-Pran-RFL Group and Walton-- who together hold around 30 per cent of the market share.

"It remains completely unregulated and poses significant risks of accidents," said Moinul Islam, chief operating officer of Property Lift, a strategic business unit of the Pran-RFL Group, while visiting the lift plant at Polash in Narsingdi.

Imports comes from Finland, Spain and China. There is another group of technicians who assemble and install lifts in buildings. They use local parts and some imported parts for the hybridization. But they allegedly do not comply with all safety issues.

Many make import from China and Europe. And many assemble by procuring some  local markets and some from imported ones.

"This is  no longer a  luxury product. It has become an essential component of modern buildings. Therefore, it must be regulated by appropriate authorities," says the company official.

Property Lift has invested Tk 2.0 billion in its factory. It has now capacity to manufacture  170 units. But it now produces around 100 units.

Pran-RFL Group managing director  RN Paul said that his plant adheres to all compliance requirements and certifications. "We are producing lifts which meet global standards."

He says they now plan to enter export market of neighbouring countries, Middle-eastern countries and African countries.

"We meet all compliance standards.  From 2026, we plan to begin export by diversifying export products," says Mr. RN Paul, who was present during the visit.

Mr. Paul says his company is now actively participating in international lift fairs in Europe and America.

He notes that the lift market is largely concentrated in big cities like Dhaka and Chattogram.

Once production strengthens and supply expands, prices of lifts can decline, which may encourage demand in other cities.

The managing director says that the locally manufactured lifts are cheaper by at least Tk 700,000 per unit than imported ones.

Currently a six-person -capacity lift costs between Tk 1.8 million and Tk 2.0 million compared to similar safety-standard ones at Tk 3.0 million.

The Bangladesh market is primarily driven by passenger lifts followed by cargo lifts used in industrial units.

But, hospital lifts, capsulate lifts, hydraulic lifts, home lifts and dumbwaiter lifts meet customer demands.

jasimharoon@yahoo.com