Ad Here  
April
May
June
July
August
September
 
 
The gainers and the losers Increasing market share Carnival Films acquiring 3000 screens pan India Bajaj Finserv – Q1: fare well Shriram Life clocks more than Rs.1000 crore premium in 2015-16 Daimler grows sales and share in India Forging industry worried over lower supply of steel and its price TVS Automobile invests Rs.75 crore in start-up firms Daimler’s truck exports from Chennai cross 5000 units A niche in FMCG business... Is this a generation gap? Right to privacy – now it’s fundamental! L&T bags the Mumbai Trans-harbour link order Preparing for the next growth curve Gamesa to set up a plant in Nellore AL wins Deming prize again When small is not so beautiful… Solar installations exceed 2015 capacity in five months E.I.D Parry (India) Ltd: another sweet year Michelin to double Chennai capacity Eyes strong growth in 2016-17 Welcome focus to improve rural India... ITC – steep excise hike Dish TV – subscriber additions encouraging Land wars Singur minus Nano – victory or folly? Tata gets 4-star rating for Zest L & T set bigger ambitions in defence business Smartphone onslaught by Chinese brands Titan Company – sales recovery to kick in IOB on turnaround path Back in growth mode Sundram Fasteners rejigs international Hindalco – re-rating AL secures orders for 3600 buses LVB posts 31 per cent growth in Q1 net profit TVS Srichakra plans capacity expansion HPCL plans Rs.61,000 crore capex over 5-years L&T profit up by 11 per cent Consolidating leadership position in smartphones Tata Motors aims to be among the Top 3 global CV & PV firm Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Sivasankaran enters taxi space to take on Uber and Ola Toyota and Suzuki to introduce EVs in India by 2020 AL introduces Guru & Partner Housing demand revival PSU non-life firms seek to protect share It takes two to tango Tata Motors charts investments in PV and CV businesses M & M unveils driverless technology for tractors Rane targets Rs.5500 crore topline by 2018-19 29 per cent jump in TCS revenues He excels in the nuts and bolts of entrepreneurship Chinese smart phones flourish in small towns too! CAPITAL NOTES TN government keen on revival of operations at Nokia complex Maruti – for young buyers Smooth sailing of SAIL V-Guard launches app-enabled water heater system Ode to Ratan Tata Hyundai to focus on SUVs and AMT variants Tata Motors bets on new launches Mercedes-Benz sales continue to zoom Wabco launches safety system Hyundai India achieves 7 mn production at Chennai factory Aurobindo Pharmacy: good turnaround Are they really independent? Nissan exit shouldn’t affect ALL Emami – a new growth mantra Tata Motors joins compact SUV bandwagon with Nexon Yamaha unveils scooter boutique L & T’s floating dock for navy TI Cycles plans retail expansion to drive sales for premium bicycles Tata Steel, ThyssenKrupp sign MoU to merge European units Record two-wheeler sales Last stages A welcome initiative-even critics are recognised RoC in the dock... From the toughest to the best year ITC chairman calls for policy impetus to transform agriculture New India Assurance posts impressive show PPP model for infrastructure development Kone India eyes further growth in elevator market The unexpected exit Vellayan is back, after 150 days
 
Kone India eyes further growth in elevator market

Leading elevator firm Kone is bullish on growth prospects in the Indian market, one of its principal growth countries. The company expects its manufacturing-cum-service expansion and launch of digitally enabled products to gain an edge over the competition.

The Finnish firm expects growing urbanisation to drive the expansion of the major cities and development of new industrial corridors. It will augur well for the growth of the elevator market.

India is the second largest elevator and escalator market with annual volumes of 45,000-50,000 units.

President  & CEO of Kone Corporation, Henrik Ehrnrooth, who was in Chennai recently, indicated that while Chinese market was slowing down, India to gain more attention over the decade or so.  He pointed out that apart from new orders, existing customers would also provide some business opportunity by way of new service contracts.

The company is setting up a new factory at Pillaipakkam near Chennai to double its capacity given a favourable market outlook. It is expected to commission operations in a couple of years.

Kone is also keen to ride the growing digital flavour across product segments in India. It is presently working on rolling out connected-elevators and escalators, which could be remotely managed. These type of elevators will be launched in India in the next two years.

Kone’s market share is estimated at 20 per cent in the Indian elevator and escalator market.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com