Strong growth continued in the Asia-Pacific region
In the Asia-Pacific region, strong growth continued in most markets. The new equipment market continued to be driven by strong urbanization and economic growth. Orders received developed well for KONE in China, India, Australia and Southeast Asia.
In the Chinese market, KONE continued to expand its product offering. KONE also widened its geographical presence in the country. In 2007, KONE was one of the fastest growing elevator and escalator companies in China and became the market leader in machine-room-less (MRL) solutions. The MRL segment accounts for approximately one-fifth of the new equipment market in China.
Strong growth was also experienced in India. The Indian new equipment market today accounts for about five percent of the global market. Predominantly, the growth is driven by urbanization and India’s strong GDP growth.
Australia performed favorably in terms of both volume and major projects and business developed well also in the Southeast Asia.
The modernization market grew strongly in Australia. Favorable progress was also made in Hong Kong.
Selection of design options extended
As part of the KONE FourSeasons™ design concept, collections of different designs and feature options were released in the Asia-Pacific region to increase the flexibility of an elevator’s
Good performance in all main markets
In the Asia-Pacific region, KONE’s success in strengthening its position in major projects was particularly encouraging.
In Thailand, KONE secured an order to supply and install all the elevators for a prestige condominium development in Bangkok called the MET.
In India, KONE won an order to supply all elevators for the second phase of construction of the Delhi Metro, as well as a major order for the design, supply and installation of 40 elevators for the Jupiter Mills high-end commercial development in Mumbai.
In China, KONE received an order to supply and install elevators for the new Shanghai International Finance Centre (IFC).
In Australia, KONE won several significant projects – e.g. an order to supply and install all the elevators for a project located in the Brisbane Central Business District, as well as an order to supply and install all elevators for the Southern Cross West Tower project in Melbourne. In addition, KONE was awarded a contract to supply all elevators and escalators for a new multi-purpose development in Perth.