India Machine Tools Market
Machine tools are instruments that are used to handle machining metal or other hard materials. Milling machines are quite versatile and can carry out a wide range of tasks, including gear cutting, filleting, turning, chamfering, and drilling, among others. They also come with certain cutting- and shaping-related equipment. Machine tools, by definition, are tools that make people's labor easier.
Increasing Demand for Smart Machine Tools
Manufacturing may become more intelligent by using smarter processes. The planning and selection of product lines, manufacturing processes, supply chains, logistics networks, customers, markets, and product development are all optimized in smart manufacturing. In order to improve industrial efficiency and technological competitiveness, smart manufacturing integrates manufacturing, information, and communication technologies, introduces optimized domain knowledge and smart technologies, and connects the entire manufacturing system from the supply chain to the outlets. Robots, the Internet of Things (IoT), big data, CPS, lean management, 3D printing, and sensor technologies are examples of intelligent technology used in industrial systems. Digital technique transforms data into information, which is subsequently transformed into the right actions.
- Control Layer Thecontrol layer focuses on real-time monitoring and control of the manufacturingprocesses. It involves collecting data from various sensors, machines, andproduction systems to provide real-time visibility and control. The datacollected includes information, such as machine performance, energyconsumption, product quality, and process parameters. Advanced analytics andalgorithms are applied to this data to optimize the performance of individualmachines or systems. The control layer aims to maximize production throughput,minimize energy consumption, reduce defects, and ensure smooth operations.
- Planning Layer Theplanning layer operates at a higher level and is responsible for long-termplanning and optimization of the manufacturing operations. It involvesstrategic decision-making processes, such as production scheduling, capacityplanning, resource allocation, and supply chain management. The planning layerutilizes historical data, demand forecasts, market trends, and other relevantinformation to optimize the overall manufacturing operations. It aims tobalance production capacity with customer demand, minimize lead times, optimizeinventory levels, and streamline the entire production process.
Rising Uptake of Additive Manufacturing & Hybrid Machine Tools to Boost Market
Additive manufacturing may find application in CNC manufacturers’ operations. For instance, Okuma intends to release its new Laser EX machines over a couple of years, which will support self-cooling, heating by laser emission, and laser hardening for carbon steel materials. These creative technological pairings are likely to support the India machine tools market in the coming years.
Additive manufacturing is described as the "process of joining materials to make parts from 3D model data, typically layer by layer, as opposed to subtractive manufacturing and formative manufacturing methodologies" in the ISO/ASTM 52900 International Standard Terminology for Additive Manufacturing Technologies. The Powder Bed Fusion (PBF) and Directed Energy Deposition (DED) methods have been chosen by the industry as the most frequent methods used in manufacturing of machine tools among several metal additive manufacturing technologies found at.
There is no denying that production paradigms are shifting as a result of additive manufacturing technologies. They enable the fabrication of components that were previously impractical since their combination with subtractive operations helps in overcoming the low accuracy, precision, and high roughness, often associated with additive manufacturing. Although the latter is a mature technology, combining additive and subtractive operations into a single machine has its own complications.
Nevertheless, a more effective use of the resources at hand, leading to shorter process chains, with subsequent time and financial savings, can be described as the main benefit of hybrid machines. Technically speaking, hybrid machines make it possible to produce components with a higher level of complexity, allowing for the creation of more adaptable new designs with improved properties. When creating these new machine tools, the industrial sector has already begun to take this into account to address issues, such as user safety, machine guarding, and residue treatment, among others.
Demand for Mass Production
India's manufacturing sector is showing great potential in employment creation and propelling economic growth during this decade. India has a huge capacity to participate in the global markets due to various elements, such as electricity expansion, long-term employment possibilities, and skill paths for millions of people. Their potential is influenced by several things. First of all, India's assets in terms of raw materials, industrial know-how, and entrepreneurship are well-positioned to benefit these value chains.
According to preliminary estimates of the gross domestic product (GDP) for the first quarter of 2024-2032–2022, India's GDP for the first quarter of FY22 was Rs 51.23 lakh crore (USD 694.93 billion) at current exchange rates. In the third quarter of FY22, the manufacturing GVA at current exchange rates was expected to be USD 77.47 billion, and during the previous ten years, it has provided roughly 16.3% of the nominal GVA. By 2030, India could serve as a hub for global manufacturing and contribute more than USD 500 billion yearly to the global economy.
Recent Developments
- In the field of shared mobility, India is on the way to become a world leader by 2030, greasing the wheels for autonomous and electric automobiles. Electric vehicles are gaining ground as a means of reducing pollution. Five crore jobs are projected to be created by the electric vehicle market by 2030. An estimated 32.84 billion USD in cumulative equity foreign direct investment (FDI) inflows were attracted to the automotive sector between April 2000 and March 2022. As sales of electric vehicle is increased so machine tool market will grow.
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Market Segmentation
Market Players
| Attribute | Details |
| Base Year | 2023 |
| Historic Data | 2024-2032 – 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2025 – 2029 |
| Quantitative Units | Revenue in USD Million, CAGR for 2024-2032-2023 and 2024-2029 |
| Report Coverage | Revenue forecast, company share, growth factors, and trends |
| Segments Covered | Tools Type Technology Application Sales Channel End User |
| Region Scope | West, North, South, East |
| Key Companies Profiled | Electronica Hitech Engineering Pvt. Ltd., Ace Micromatic Group, Bharat Fritz Werner Ltd., DMG MORI Co. Ltd., HMT Ltd., ITL Industries Ltd., Jyoti CNC Automation Ltd., Lakshmi Machine Works Ltd., Machine Tools India Ltd., Micromatic Machine Tools Pvt. Ltd. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing And Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
