Innovation is always the key for Gates as an organization globally
Mining and metal are two major end market which we are focused on. Not only for product perspective but also from the service side. IMME being the biggest mining exhibition, we are looking for some contracts, associations, meeting with our prospective clients.
– Prabhat Kumar Azad
General Manager – Sales, Industrial Replacement, Gates India
What is your focus at IMME this time?
Mining and metal are two major end market which we are focused on. Not only for product perspective but also from the service side. IMME being the biggest mining exhibition, we are looking for some contracts, associations, meeting with our prospective clients.
What is the present market scenario for hoses?
If you look at the hoses industry from the Gates perspective, we have come back to the pre-covid era. Infact, we have surpassed the covid era. We hope that in the coming years, the industry indicators should be high and better for all. We, at Gates, clearly see that we have not only touched the pre-covid times, but we have surpassed it. There are still challenges in the market. But on the revenue front, we really witnessing the market coming back.
What are the challenges in the market?
In the post-covid era in these two years, the sentiments have gone down. The kinds of investments are picking up, but it is picking up very slowly. There are challenges in the liquidity aspect. Today, the supply-chain is still bouncing back and it is still a challenges for the manufacturers. And atleast, for the next one year, we do not see that the inflation going southwards.
How is Gates different from other manufacturers of hoses?
Innovation is always the key for Gates as an organization globally. Our next-gen product have been launched here. We have come out with our MXT and MXG series which is the lightest hose, having the best MBR (Minimum Bend Radius). To make compact machines, you require hoses which do not only perform, but it can be bend to minimum level that occupies less space, but at the same time, exceeds the standards. Gates’ USP is always innovation with new next-gen products.
What are your export market?
Gates is a global company and our export market is across the world. 50% of what we manufacture, we export. But we export to the Gates’ entities and not to the customers directly. There are product portfolio which we manufacture here, export to US, South-East Asia, rest of the world and visa-versa. On the hoses front, more than 95% we manufacture within country.
How do you look at the future for Gates for the next five years?
Gates as an organization, we are venturing into new markets. Electrical Vehicle (EV) market is also booming slowly. This will be a growth engine for next 2 – 3 years. On this side of end market, mining and metal continues to be our focus areas and with differentiating service factor, we are working on strategic tie-ups in the country.
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