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Mitsubishi eyes 20% market share in elevator space


Date: 01-04-2019
Subject: Mitsubishi eyes 20% market share in elevator space
Japanese conglomerate Mitsubishi is aiming at around 20 percent market share in elevator segment in next 3-4 years, said a top company official. Mitsubishi Elevator India, a subsidiary of Mitsubishi Electric Corporation, is targeting the opportunities emerging from premium building space like IT offices, luxury hotels and residential segment, among others.

"Our target is to achieve more than 20 percent of the market share in our target segment in the next 3 to 4 years," Mitsubishi Elevator India Deputy Managing Director Pravin Rao told PTI.

In FY 2018, the demand for elevators in India was over 50,000 units and the segment is having a year-on-year growth of around 5 to 6 percent, he added.

The company did not disclose the present market share in India.

Japanese conglomerate Mitsubishi is aiming at around 20 percent market share in elevator segment in next 3-4 years, said a top company official. Mitsubishi Elevator India, a subsidiary of Mitsubishi Electric Corporation, is targeting the opportunities emerging from premium building space like IT offices, luxury hotels and residential segment, among others.

"Our target is to achieve more than 20 percent of the market share in our target segment in the next 3 to 4 years," Mitsubishi Elevator India Deputy Managing Director Pravin Rao told PTI.

In FY 2018, the demand for elevators in India was over 50,000 units and the segment is having a year-on-year growth of around 5 to 6 percent, he added.

The company did not disclose the present market share in India.

Source: moneycontrol.com

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