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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Elevator is speeding up the expansion of the global market for smart lifts.
It is focusing its capabilities on large-scale orders, especially in countries where large-scale infrastructure investments are underway, such as Saudi Arabia and Indonesia. The goal is to enter the top five in the global market with a 5% share of the overseas market in 2030.
According to industries on the 3rd, Hyundai Elevator is spurring orders for smart elevators in emerging markets such as Saudi Arabia, Indonesia and Vietnam.
The global markets that Hyundai Elevator is targeting include Saudi Arabia's Neom City and Indonesia's New Capital Project. We are participating in 'One Team Korea', which is pioneering the market as a team with the government (Ministry of Land, Infrastructure and Transport) and construction companies.
Hyundai Elevator is the number one elevator market share in Korea with more than 40%. However, overseas sales account for 10% of the total (1.2186 trillion won in the first half of this year). The overseas market share is less than 2%.
It is looking for a breakthrough in overseas markets beyond stagnant growth and sluggish domestic market since 2016.
First of all, Saudi Arabia, which is carrying out a project to build a future new city worth more than 600 trillion won, is the largest market Hyundai Elevator aims for. The demand for elevators in Neom City is estimated to be around 1,000.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
