India Machine Tools Market By Tools Type (Metal Cutting Machines v/s Metal Forming Machines) By Technology (CNC Machines v/s Conventional Machines) By Application (General Purpose Machines v/s Special Purpose Machines) By Sales Channel (Direct v/s Indirect) By End User Industry (Automotive, Electrical & Electronics, Railways, Consumer Durables, Government & Defense, Others) By Company, By Region, Forecast & Opportunities, FY2027

India machine tools market is expected to grow at a steady CAGR for the forecast period, FY2023-FY2027. High-end investments by leading players for technological advancements to upgrade the existing machine tools and innovate new technologies for better performance and higher efficiency from machine tools. Advent of machine tools such as multi axis and robotic arm is fueling the demand of machine tools in the region. Growth of oil and gas industry, railway sector and automotive industries is boosting the demand for machine tools market. Demand for smart functions across various end-user industries for reduced power usage and higher energy efficient machines is creating the demand for machine tools in the region. Rise in demand for heterogenous material for manufacturing process to facilitate the flexibility in design and optimize the operational and maintenance costs is increasing the demand for advanced machine tools. Growing focus of manufactures for increasing the speed of production and procure cost-effective methods is aiding to the machine tools market growth. Growth in general machinery and vehicle production machinery is paving the way for high demand of machine tools in the forecast period.

India machine tools market is segmented into tools type, technology, application, sales channel, end user industry, regional distribution, and company. Based on tools type, market is further bifurcated into metal cutting machines and metal forming machines. Metal cutting machines is expected to dominate the market for the forecast period. Milling machines are aiding to high market demand of metal cutting machines. Milling machines can perform a variety of functions such as gear cutting, filleting, churning, turning, among others. These find applications in railway industries, automotive industry, aerospace, and defense industry.

The major players operating in the India machine tools market are 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., Okuma India Pvt. Ltd, Tussor Machine Tools India Pvt. Ltd., and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023–FY2027

Objective of the Study:

• To analyze the historical growth of the market size of India machine tools market from FY2017 to FY2020.
• To estimate and forecast the market size of India machine tools market from FY2021 to FY2027 and growth rate until FY2027.
• To classify and forecast India machine tools market based on tools type, technology, application, sales channel, end user industry, regional distribution, and company.
• To identify dominant region or segment in the India machine tools market
• To identify drivers and challenges for India machine tools market
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India machine tools market.
• To identify and analyze the profile of leading players operating in India machine tools market.
• To identify key sustainable strategies adopted by market players in India machine tools market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturerswho could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of India machine tools market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Machine tools manufacturing companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to machine tools market

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India machine tools market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India Machine Tools Market, By Tools Type:

• Metal Cutting Machines
• Metal Forming Machines
• India Machine Tools Market, By Technology:
• CNC Machines
• Conventional Machines
• India Machine Tools Market, By Application:
• General Purpose Machines
• Special Purpose Machines
• India Machine Tools Market, By Sales Channel:
• Direct
• Indirect
• India Machine Tools Market, By End User Industry:
• Automotive
• Electrical & Electronics
• Railways
• Consumer Durables
• Government & Defense
• Others
• India Machine Tools Market, By Region:

• North
• East
• West
• South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India machine tools market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).