Major challenge is lack of standardisation of safety norms

Indiabulls Store One is leading rental equipment provide working on PAN India basis. Indiabulls Store One is constantly working towards providing innovative solution to customer in selection of new equipment, rental and leasing solutions to large and medium sized construction and real estate customers. Our strong product support along with high quality equipment minimises the downtime and maximises profitability for its customers. Today, the company is operating pan India with five yards and eight regional offices and have the capability to provide solutions at extreme locations in India and overseas. Munish Taneja, President, Equipment Hiring Business, speaks on the key growth drivers of construction hoists.

How is the market progressing for construction hoists in terms of production and sales? How do you see the demand for construction hoists in future?

Indiabulls Store One is a major player in the rental of construction hoist. We are offering Rentals of passenger hoist, material hoist and mast climbing platform. We are seeing huge demand for construction hoist from all across India. Earlier demand was restricted to tier I cities, but now tier II and tier III cities are also having demand of construction hoist on rentals. In next 3 to 5 years, we expect construction hoist demand to grow by 20-25 per cent.

Which are the key growth drivers of construction hoists?

Key growth drivers of construction hoist are faster execution of project, higher productivity of the labour employed, safety of the man and material deployed at site and more high-rise building being constructed. Apart from this rental rates of construction hoist have dropped in last couple of years, which has helped to feel the demand, as it is economical for the contractors. Indiabulls Store One also offers construction hoists on long term lease, which is even better than short term rentals.

What are the key technology trends in construction hoists?

Technology for construction hoist is evolving as customer are more conscious on the safety aspects and speed. Construction hoist are coming with speed in range of 50-60 metre/minutes, which are much faster than older construction hoist or local brands available in India. Also with the use of encoder as a standard fitment, construction hoist can be operated in auto mode with floor setting, which makes then faster and efficient.

What are the major challenges for the construction hoists market in the current scenario?

The major challenges for the construction hoist market is the lack of standardisation of the safety norms. As, these Hoist are used for shifting of the man and material across the floor in a project, safety should be a high priority. Indiabulls Store One pays lot of attention towards safety of the construction hoist deployed at our rental sites.

What are the opportunities emerging in construction hoists?

Due to increased demand in construction hoists and shorter tenure of projects more and more customers are demanding rental solution for the construction hoists. They don’t want to own these assets, as it is very difficult to store and maintain these Hoist when not in demand. Apart from this, we see huge opportunity for mast climbing platforms. These mast climbing platforms are very efficient in for external finishing works and manpower productivity increases many folds.