India Machine Tools Market is anticipated to grow at
a steady pace during the forecast period, thanks to technological developments such as
multi-axis arms and robots and the expansion in the manufacturing sector. In
addition, the increased emphasis on rising productivity and decreasing downtime
is fueling market expansion. In September 2021, the government approved a PLI
scheme worth Rs 26,058 crores (USD 3.53 billion) for the auto industry and
drone industry to boost India’s manufacturing capabilities, which is expected
to aid the machine tools market in India over the next few years.
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
Technological developments, such as the growing use of robotics and
human-machine interaction, are seen to have a positive impact on market growth
at present. The demand for real-time connectivity is also fueling the emergence
of cloud-enabled smart factories. As a result, smart machine tools are becoming
an essential component of smart systems and are anticipated to boost the
popularity of the product over the forecast period. Sophisticated equipment that
is used in making tools for machine has sensors that help schedule maintenance
and optimize the machine time.
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: The
control layer focuses on real-time monitoring and control of the manufacturing
processes. It involves collecting data from various sensors, machines, and
production systems to provide real-time visibility and control. The data
collected includes information, such as machine performance, energy
consumption, product quality, and process parameters. Advanced analytics and
algorithms are applied to this data to optimize the performance of individual
machines or systems. The control layer aims to maximize production throughput,
minimize energy consumption, reduce defects, and ensure smooth operations.
- Planning Layer: The
planning layer operates at a higher level and is responsible for long-term
planning and optimization of the manufacturing operations. It involves
strategic decision-making processes, such as production scheduling, capacity
planning, resource allocation, and supply chain management. The planning layer
utilizes historical data, demand forecasts, market trends, and other relevant
information to optimize the overall manufacturing operations. It aims to
balance production capacity with customer demand, minimize lead times, optimize
inventory levels, and streamline the entire production process.
Rising Uptake of Additive Manufacturing &
Hybrid Machine Tools to Boost Market
The
market is being driven by an increase in the application of additive
manufacturing. Manufacturers are moving toward efficient and quick production
methods, which is reflected on additive manufacturing. Furthermore, it is
anticipated that the market will expand in the coming years as a result of the
growing popularity of manufacturing capabilities for heterogeneous materials.
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 available.
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
The top five
sub-sectors of manufacturing are food products, basic metals, rubber and
petrochemicals, chemicals, and electrical machinery, The manufacturing sector
is crucial for the employment generation and the development of an economy. The rise in the demand for mass production
across several industries, including the aerospace and defense sectors, is
likely to fuel the need for machine tools in India. With the rising use of metal
in industries, the demand for metal-cutting tools has increased as well. When
production is rigorously controlled, mass production yields exact assembly
because production line machines have predetermined standards. Labor expenses
are frequently lower for things that are manufactured in bulk. The development
of automated assembly line techniques that use fewer workers saves a lot of
cost. Also, due to improved automation and performance, the assembly of
mass-produced goods is completed more quickly. This quick assembly aids in the
quick production and sale of a company's products, allowing it to gain a
competitive edge and increase earnings.
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 2021–2022, 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.