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Toshiba Targets 8% Revenue From Elevator Sales in India

Japanese manufacturing company Toshiba, targets the Indian market to contribute 8% to its global revenues. The company’s elevator making arm, seeks to achieve $125 million in revenues by 2015, from the country.

Toshiba Logo

Toshiba Logo

The company aims to capture 10% of the premium market, with a targeted sales figure of 1,600 annually, says Mr Shinichiro Akiba, the company’s chief executive and Toshiba Elevator & Building Systems president.

The company entered the market in the 2011, and presently has an order 29 units, from two real estate players. The company aims to capture the high-end market first, and then move into the larger market once the company has established a name for itself in the region, added Mr Akiba.

At present, the company has specifically decided to focus on the Delhi-Mumbai corridor, but will ultimately expand nationally, probably by the year 2014 to 2015.

The company has been drawn into the domestic elevator market, due to its growing CAGR of 11%.

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