News & Updates » Elgi aims for 2nd spot in global air-compressor market
Elgi aims for 2nd spot in global air-compressor market
By Harveer Chawla : 1 January 2019
Elgi Equipments is aiming to reach the 2nd position in the global air compressor market by year 2027. At present it is the 7th largest player in the global compressor market.
To achieve its goal, the company will focus on innovation, improving the efficiency of its compressors, removing pollutants by launching ‘oil-free’ compressors and ensuring an ‘error-free’ customer experience.
Earlier, the company welcomed over 200 employees, students and industry representatives to the 1st edition of Technology Day 2018 and unveiled Elgi’s “State of The Future Art”-a signature initiative focused on promoting innovation.
Technology Day 2018 is a platform to engage and build collaboration between young engineering minds and industry experts and the day-long event recognised the significant contribution and complex engineering achievements of the company’s technology team.
This year, as part of Technology Day 2018, Elgi called upon engineering students to author papers on compressor efficiency, reliability and performance enhancements.
While such compressors help eradicate pollutants (as compressors carry oil), it is pricey — almost thrice as expensive as the conventional model.
Elgi has introduced an intermediate range, which is 1.5 times more efficient than the conventional compressor, he said. The company spends close to 2.5 per cent of its revenue on R&D.
On Elgi’s overseas market, he said: “The traction for our products continues to be strong worldwide, especially in the European and US markets. But Elgi as a brand remains relatively unknown outside India. We are focused on giving more, and that incidentally is driving our product pipeline.”
“We are looking at inorganic opportunities to grow in the markets abroad, with a focus on distribution companies,” he said, adding “we are fast reaching scale in the US, where a local assembly line will be justified.”
Elgi Equipments will be displaying their products at the expo to be held in April 2019 in Hanover in Germany.