Kone India launches 2 mid-range lifts

    Kone India launches 2 mid-range lifts
    Kone India, which is an arm of the Finnish escalator and elevator company Kone, has recently launched a new range of elevators, U MonoSpace and U MiniSpace, for the growing mid-range market. The company with its manufacturing facility on the outskirts of Chennai, is in the process of setting up a second plant at Sriperumbudur, which is likely to be commissioned by the second quarter of 2019, Managing Director of Kone Elevator India, Amit Gossain said that the new products of the company have 26 cars with visuals inspired by Navratna, the nine gems. These designs are unique and help differentiate in the market place and enhance the customer experience. Since the demand for aesthetics is gaining importance, the new collection is set to create a lasting user experience.

    He further said that India is the second largest elevator and escalator market in the world and accounts for about 50,000 units sales per annum, where Kone India commands 20% market share and is expecting to see the market growth by about 6-7 per cent this year, thereby, it is poised to see a double-digit growth rate. He, however, admitted that last year was tough for the elevators and escalators' business in the country as it had to bear with the impact of the demonetization, GST transition, and RERA. This resulted in a flat business and the industry managed to get through the phase riding on orders which were under execution. However, he sees the real estate, which accounts for nearly 70% of the total demand in the country, to order for more as new projects get executed. Globally, Kone has tied up with IBM Watson to offer IoT (Internet of Things) connected elevators and the company expects to launch these IoT solutions too in India within a year, he claimed.
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