The global automation and control solution major Honeywell is planning to augment its business operations in the Asian region, especially China and India.
At present Honeywell Automation India Ltd., the Indian subsidiary has five offices across India with corporate office in Pune and around 40 channel partners serving customers. In Asia Pacific, Honeywell have approximately 200 authorised dealers.
With the economic and manufacturing growth in India, Honeywell is geared to effectively capture the market space. Honeywell has its existing manufacturing facilities in China and India, which will be augmented based on business growth, said Vinod Bambarkar, Vertical Market Manager, Sensing and Control, Honeywell Automation India Ltd.
He said Honeywell sensors viz. position and humidity sensors are used in pharma industry in tablet, capsules and drug manufacturing machines. Besides this, environment and combustion control business provides environmental control products to maintain desired temperature. Honeywell sensors are used in critical life saving machines such as ventilators, respiratory equipments, incubators, blood dialysis machines, etc that form the part of medical devices.
Increase demand in the rural healthcare segment in India, which forms the largest segment of the population world drive the medical and pharma market, which is expected to grow at a CAGR of 18% as per Government of India data. The market holds strong opportunity for indigenisation, R&D hub for global players and for offering high-end value products. Honeywell develops high-end system critical products for industry applications and would continue to launch such products in the Asian region, he said.
The Indian healthcare industry is estimated to be Rs.1800 crore comprising of high-end machines like, MRI, cancer treatment equipments and medium tech machines like respiratory and ventilators. Approximately 60% of the market size is made of disposables viz. syringes, swabs and bandages. More than 100 players are in India operating in the medium tech machines manufacturing sector.
Honeywell sensors are integral part of the industry, and its share needs to be looked at in perspective of market size in instruments only and not entire healthcare industry. In these sensors for instruments segment, Honeywell enjoys a market share of 30%. Honeywell, MSI, Nova Sensor, Druck are the leading sensor suppliers in this industry, he said.
Honeywell has a strong policy of developing high-end system critical products for industry applications. Most of its products are customised based on industry need. A System-Critical solution from Honeywell Sensing and Control is a potent form of preventive medicine. Whether it's for life support equipment, diagnostics, dialysis or portable infusion pumps, Honeywell offer a wide variety of sensing and control products that will provide greater reliability, longer product life and greater accuracy, at the lowest total cost, claimed the company official.