Kone India launches 2 mid-range lifts
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.
Published on:
20 July 2018
Share:
We Value Your Comment
