Japanese conglomerate Mitsubishi is aiming at around 20% 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% of the market share in the next 3 to 4 years,” Mitsubishi Elevator India Deputy MD Pravin Rao told. In FY18, the demand for elevators was over 50,000 units with a growth rate of 5 to 6% YoY he added.
Source: The Free Press Journal