BUSINESS

Urbanising India needs sustainable solutions: Otis

Otis India, the subsidiary of Otis Elevator Company, the world’s leading manufacturer of elevators, escalators and walkways, has entered the high-volume elevators market for affordable housing by introducing energy-efficient elevators in the Indian market.

Called Gen2 Core, these elevators can attain a speed of 0.7 metres per second and provides options of machine room or machine-less room arrangements. They are designed for low-rise residential buildings with a height of seven floors.

Affordable homes make up almost 90 per cent of the demand for homes in India and this has become one of the focus areas for Otis, a top official said.

Otis already had been deploying Gen2 technology in elevators for high-rise buildings since 2010 and the Gen2 Core elevators are built on this technology platform.

This product is an upgrade from traditional rope-geared systems to the permanent magnet (PM) gearless-belted technology ensuring energy-saving.

“The Gen2 Core uses Otis’s patented, flexible polyurethane-coated steel belts, the ReGen regenerative drive, which captures energy that is normally wasted during braking and feeds it back into the building’s electric grid, compact gearless machine and pulse monitoring system,” said Sebi Joseph, President, Otis India.

The Gen2 Core, he said, offered the affordable housing segment an elevator that is ‘environmentally responsible’. As India continued to urbanise, it needed sustainable solutions, he said, adding, “The Gen2 offers just that through its energy-saving and space conservation features.”

The Gen2 Core will be manufactured in India at Otis’ facility in Bengaluru with a delivery schedule of five weeks.

Affordable Housing

The current housing deficit in India stands at 19 million units and 95 per cent of this deficit is around the Economically Weaker Sections and Low Income Group segments. This segment is likely to get a boost as the government is aiming to provide housing for all by 2022.

“Affordable homes do not just mean the cost accessibility of the home but also lower operational and maintenance costs. Sustainable features are key to any affordable housing project. This product will help us to penetrate across the country especially into tier-1 and -2 cities,” Mr. Joseph said.

Gen2 Core would cost approximately 15 per cent more compared with products with similar speeds in the market.

India’s new elevator market is estimated at 48,000 units per year and overall, the market is growing by 7 to 8 per cent.

However, Otis India, with a market share in the ‘mid-teens,’ has reported 20 per cent growth in its order book so far this year.

This year the firm bagged new orders from Mantri Developers and Indiabulls, out-bidding rivals. Otis will supply 1,000 elevators and escalators to Mantri Developers for its projects and 37 high-speed elevators, including 18 SkyRise elevators to the Indiabulls BLU Project in Mumbai.

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