by Kanika Goswami
Wittur Group is one of the world's largest independent suppliers of components and systems for the elevator industry. Its portfolio includes elevator doors, safety components, gearless drives, cabins, car frames and counterweight frames. India's burgeoning elevator market attracted the brand to the country three years ago, and the venture has been successful since.
Speaking on the entry of Wittur in India, R. Sumanth, managing director, Wittur Elevator Components India Pvt. Ltd., says: "India is the second-largest market for elevators in the world, followed by China.
The market is growing 10-13%. The urban population was 3 77 million as per the 2011 census, and this [number] is expected to grow to 590 million by the end of 2030.
This will translate to vertical growth in cities that are starved of construction spaces. [The] estimated urban housing shortage was close to 19 million units in 2012. The building industry that will close this gap will be the target for the elevator market, too, and this will be the biggest driver for the growth of the brand in India."