KONE Elevator India Expected To Maintain 15% Growth Rate

KONE Elevator India expects to post a 15% growth rate during calendar year 2023 despite market constraints, according to Managing Director Amit Gossain, The Hindu reports. “So far, we have posted 15% growth year-on-year in the escalator business, and this is over and above the industry growth of 10%,” he told the media. “We hope to maintain the growth rate for the remaining months also. Currently, KONE India has a market share of 25% in the elevator business.” The announcement came the day before the company inaugurated its new elevator testing facility in Sriperumbudur, India. The facility is capable of producing both elevators and escalators, and Gossain announced the company will begin producing escalators at the facility.