KONE India, a branch of the Finnish company specializing in elevators and escalators, introduced the KONE Villa 100, an energy-efficient and compact home elevator tailored for villas and low-rise residences.
The unveiling occurred at KONE’s India Supply Unit in Sriperumbudur, spearheaded by Philippe Delorme, President and CEO of KONE Corporation, alongside Amit Gossain, Managing Director of KONE India and South Asia.
“India is pivotal to KONE’s global expansion strategy,” Delorme remarked, highlighting the country’s vast scale, vibrancy, and long-term potential.
He emphasized that India is among the few global markets where new construction is thriving, coupled with significant modernization opportunities, as many elevators from two decades ago require upgrades.
The KONE Villa 100 is purpose-built for contemporary homes and low-rise projects.
Utilizing permanent magnet synchronous gearless technology with VVVF control, this elevator runs on a 220V single-phase power supply, using considerably less energy than traditional home elevators.
Its intelligent features automatically disable cabin lighting and ventilation when idle, aiding in energy conservation. Furthermore, it requires a minimal pit depth and comes with a built-in shaft, reducing civil construction requirements—a crucial aspect for homeowners.
The company notes that its power consumption is even lower than that of a typical household refrigerator.
In an interview with CNBC-TV18, Amit Gossain mentioned that KONE India has experienced consistent double-digit growth over the last four years, especially after the COVID pandemic. This growth is primarily driven by the residential sector, which constitutes about 60% of the elevator market in India.
Commercial real estate, which initially cooled down after the pandemic, is now rebounding as offices welcome more employees, while the retail sector has also shown unexpected resilience. The infrastructure sector holds the remaining share and continues to perform steadily.
Gossain indicated that KONE is now gaining traction across all market segments, although the residential sector remains the most active. He added that the introduction of the villa elevator enhances KONE’s product lineup in India, targeting a market previously dominated by local manufacturers. The company anticipates significant growth in this segment as the demand for independent homes and villas increases.
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Regarding the order pipeline, Gossain noted that prospects are closely tied to the growth of real estate, and a robust property cycle should lead to increased demands for elevators and escalators.
KONE currently holds about 25% of the Indian market in value and aims to maintain and gradually expand this share. He stated that the strategy focuses on strengthening customer relationships, expanding office locations, and enhancing presence in tier 2 and tier 3 cities to improve service response times.
When asked about a potential listing in India, Gossain dismissed the idea, reaffirming that KONE India is a wholly-owned subsidiary of KONE Corporation and is satisfied being listed in Finland, which provides access to global capital, technology, and expertise.
During an interaction with CNBC-TV18, Delorme identified India as one of the most strategic markets worldwide, alongside the US. He noted that India presents a unique blend of new construction and modernization opportunities.
While demand for housing remains robust due to a shortage, he stated that growth in residential areas will inevitably fuel greater demand for offices, retail, and associated infrastructure.
On potential challenges, both executives highlighted safety in construction as a primary concern for the industry, along with the necessity to ensure that affordable housing projects are equipped with safe and reliable elevators.
Delorme also mentioned that technology is a significant driver of transformation, with AI being increasingly utilized to enhance elevator servicing and maintenance. KONE, he said, is leading the charge in digital and 24/7 service solutions, with a strong emphasis on the modernization prospects in India.
Looking forward, Delorme stated that KONE remains open to acquisitions that could bolster its capabilities, while expressing confidence in the Indian team’s execution speed, culture, and focus on customer satisfaction.
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“I am impressed by what I see here and am very confident that we have the capacity to meet our customers’ needs effectively,” he remarked.
(Edited by : Shoma Bhattacharjee)
