Elevator companies rejoice as the infrastructure projects take priority in the NaMo Raj
It is expected that the new government’s thrust on infrastructure, including the commissioning of new airports and metro rails, will lead to higher demand for elevators, escalators and travelators (moving walks). This has increased activities in the elevator companies and a dozen odd leading elevator companies in India are competing to grab the orders and enhance their market share.
With the number of high-rise buildings rapidly growing in India and 100 smart cities likely to be commissioned within a decade, the trend is expected to show an upward curve. The elevator manufacturers are gearing up to seize the rising business opportunities.
Global pioneer Elevator Otis Company (I) Ltd., which has been in India for the last 61 years, is making a strong bid to beat the competition through energy-efficient and technologically superior elevators. The Managing Director Sebi Joseph stated that the company is investing in a factory at Bangalore to double the manufacturing capacity. They are also revamping the company structure to stay close to customers so as to enhance business.
Joseph mentioned that other brands are there in India which is good for competition. However he wanted to talk about the market position of Otis and mentioned that Otis invented elevators in 1853, and pioneered many technological innovations. These innovations include Gen2, which was launched globally in 2000. Last year they were the market leaders in India in terms of value. Last year, the company won the largest elevator contract in Indian history from Hyderabad Metro to provide 670 elevators and escalators.
The company takes pride in mentioning that the company has the largest service portfolio of 3,000-odd elevators, which is large part of their revenue.
Source- The Hindu
Elevator Otis Company, Global pioneer Elevator Otis Company, Hyderabad metro, Infrastructure, Projects
