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MITSUBISHI ELEVATOR INDIA TARGETS 20% MARKET SHARE
Mitsubishi Elevator India Pvt. Ltd. aims to capture at least 20% of the domestic market in the next three to four years as it seizes opportunities in the high-end commercial and residential segments, various news outlets, including the Business Standard, report, quoting Deputy Managing Director Pravin Rao. Declining to disclose current market share, Rao observed demand for elevators in India was more than 50,000 units in fiscal 2018, with year-on-year growth of up to 6% forecast. Mitsubishi Elevator India expects tier II and III cities in non-metro areas to grow, fueled by factors like uninterrupted power supply. The company has an Indian factory where it manufacturers its NEXIEZ-LITE machine-room elevators and recently launched production of them.
Image credit: Picture (of the NEXIEZ-LITE) courtesy of Mitsubishi Electric.
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