Capitalising on high growth in India to expand its control business
Yokogawa Electric Corporation announces that Yokogawa India, a wholly owned subsidiary, will launch production on March 28 of a principal Yokogawa field instrument product line, the DPharp EJA-E series differential pressure/pressure transmitters.
The decision to launch production in India comes in response to a rising demand for control devices in this market, which has been driven in part by Indian government policies that seek to foster stable growth in the mid-to-long term through the promotion of projects for the construction of oil, petrochemical, and power plants and other types of industrial infrastructure. The launch of production in India will allow Yokogawa to better meet the needs of its Indian customers by, for example, speeding up product delivery and providing customised solutions.
To start, three DPharp EJA-E series products that are in particularly strong demand will be produced in India, and other products may be added at a later date. Already one of the largest suppliers of differential pressure/pressure transmitters in India, Yokogawa aims to capitalise on the high growth in this market to expand the scale of its business. Yokogawa plans to produce 100,000 units annually in India by fiscal year 2020.
Differential pressure/pressure transmitters measure pressure, flow rate, and liquid level, and play an important role in the oil, petrochemical, chemical, iron and steel, power, and other industries in processes that involve the handling of liquids, vapors, and gases. Globally, some 300 billion yen worth of these products are sold each year, making this the largest segment in the field instrument market (based on a March 2016 survey by Yokogawa). In addition to production in Japan of core components and finished differential pressure/pressure transmitters for the global market, Yokogawa produces these transmitters in China, the United States, Bahrain, Singapore, and Brazil. Following the launch of differential pressure/pressure transmitter production in India, Yokogawa plans to also introduce production of these products in Russia, Germany, and Saudi Arabia.
In 2015, Yokogawa celebrated its 100th anniversary and established “Co-innovating tomorrow” as its corporate brand slogan, based on which it is seeking to establish even stronger bonds of trust with its customers by working with them to create value and stimulate growth. By launching production of these products in India, Yokogawa will establish a foothold that will allow it to build ever stronger relationships with its customers and expand its control business in the Indian market.