NEW DELHI: Thyssenkrupp Elevators India is looking to increase their market share to 8-10 % in the mid-term from the current single digit levels, said Bharat Vishnani, managing director of the company.It has seen less than 10% aggregate growth in the last four years. "This will be scaled to double-up in the next few years," said Vishnani.
Company's 60% revenue currently comes from residential sector while rest of the 40% comes from commercial, hospitality, infra and industrial segments.
Vishnani 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.