Thyssenkrupp Elevators looking for 8-10% market share
Thyssenkrupp Elevators India is looking to increase their market share to 8-10 % in the mid-term from the current single digit levels. It has seen less than 10% aggregate growth in the last four years.
Company’s 60% revenue currently comes from residential sector while rest of the 40% comes from commercial, hospitality, infra and industrial segments.
Bharat Vishnani, managing director of the company, feels the residential market is now picking up and hence the elevator industry will see growth in coming years. “The affordable housing segment may majorly drive demand of elevators in 3-4 years,” he said.
In terms of new installation vs services and maintenance, about 70% of the revenue is from new installation.