Chennai, June 2017 – ELGi Equipments (BSE: 522074 NSE: ELGIEQUIP), one of India's leading air-compressor manufacturers, today announced their plans to become World No.2 in the Global market by 2027. The company, also unveiled their new brand identity with a new logo and color scheme for it's entire product range. Red and Black are more distinct and dynamic as compared to orange and grey. Red stands for performance, passion and energy. It reflects the drive to constantly evolve and keep getting better. Black is clear, bold and helps establish a distinct brand world. From the functional stand point, these colors add on to better visibility, consistency in execution and are unique in the industry.

The air compressor market is growing steadily year on year. The market size is anticipated to be USD 20 billion in 2023, with 3.6 per cent CAGR from 2016 to 2023. The company has opted to take the innovation route to be World Number 2 in the global air compressor market by making the products energy efficient, oil free and with an increased uptime reliability. ELGi has always focused on strengthening its attention on indigenous technology, research and development to innovate newer technologies in the air compressor industry.

Speaking at the conference, Dr. Jairam Varadaraj, Managing Director, Elgi Equipments said, "ELGi as a brand that is over 50+ years, has constantly evolved as a global leader in providing complete range of compressed air solutions leaving behind satisfied customers across all industrial verticals. Air-Compressors are the 'life source of all industries' and the need will never diminish. With our best-in-class lifecycle cost driven by low specific power consumption and maintenance cost, we strive to run all manufacturing facilities across the world with ELGi compressors."