Kone Elevator India expects to post a 15% growth during calendar year 2023, despite market constraints, said Managing Director Amit Gossain.
“So far, we have posted 15% growth year-on-year in the escalator business and this is over and above the industry growth of 10%,” he told the media.
“We hope to maintain the growth rate for the remaining months also. Currently, Kone India has a market share of 25% in the elevator business,” he said.
The company is all set to inaugurate its ₹100-crore elevator testing facility, including tower and labs, at Sriperumbudur on Wednesday, said President and CEO Henrik Ehrnooth.
According to him, the test tower contains multiple shafts, many of which could be reconfigured for testing new high and mid-rise solutions and laboratories for the elevator and escalator components’ testing.
“India and China are the only two facilities that are capable of producing both escalators and elevators at the same facility. Initially, the product will be made for the Indian market and later it could be exported,” said Mr. Ehrnooth.
Mr. Gossain announced that Kone India’s Sriperumbudur facility would start producing escalators. In the first year, pilot run and testing would be carried out. Next year, we will localise production and would produce couple of hundreds.
“The Sriperumbudur facility was inaugurated during 2019. At that time, we had invested a huge sum for making escalators and elevators. Hence, it will be difficult to state how much is invested for escalators,” he said.
