Technavio has published its latest research report for India titled “Indian Machine Tool Market 2020-2024″ (Graph: Business Wire).
Technavio has published its latest research report for India titled “Indian Machine Tool Market 2020-2024″ (Graph: Business Wire).
LONDON – (BUSINESS WIRE) – India’s machine tool market is expected to grow by $1.9 billion during 2020-2024 at a CAGR of nearly 13% over the forecast period.Request Free Trial Page
Read TOC’s 120-page report “India Machine Tool Market Analysis Report by Type 2020-2024, by Type (Metal Cutting Machines and Metal Forming Machines), by Technology (CNC Machine Tools and Conventional Machine Tools) and Segment Forecasts.”
The market is driven by the growing industrial automation in India. In addition, the introduction of 3D printing technology is expected to boost the machine tool market in India.
Industrial automation is becoming the norm in all industries as it provides increased reliability and productivity. Numerically controlled (CNC) machine tools are automated tools that replace traditional machine tools because they provide additional computing power and flexibility. This ensures fewer scraps in the final product, eliminates additional labor costs and facilitates the production process. The penetration of CNC milling machines into the automotive industry is increasing for the production of automotive components such as flywheels, wheels, transmission cases, pistons, transmissions and engine cylinder heads. The use of such automated machines reduces cycle times and increases the productivity of the manufacturer. Hence, the growth of industrial automation in India is expected to drive the growth of the market during the forecast period.
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Bharat Fritz Werner Ltd. operates the business under the Products & Services segment. operates the business under the Products & Services segment. Bharat Fritz Werner Ltd. operates a business in the Products and Services segment. Bharat Fritz Werner Ltd. operates in the Products and Services segment. The company offers a variety of machine tools such as vertical machining centers, special purpose machines, 5-axis machining solutions, vertical lathes, and more. The company also offers horizontal turning services, horizontal machining centers and other equipment.
DMG MORI Co. Ltd. supplies products in the following business segments: machine tools and industrial services. The company offers highly efficient and high performance machine tools. They supply cars to India under the CLX brand.
HMT Ltd. manages several business units, namely the food industry, machine tools, projects and others. The company offers CNC training lathes, CNC flatbed lathes, CNC bar lathes, tilt bed CNC lathes, and other products.
ITL Industries Ltd. supplies products in the following business segments: mechanical engineering and trading activities. The company offers machines such as sliding panel saws, sector cutters for large pipes, tube bundles for heat exchangers and cutters for condensers.
Jyoti CNC Automation Ltd. supplies products in the following business segments: Products and Solutions. The company offers CNC horizontal machining centers, CNC vertical machining centers, CNC lathes, CNC multi-tasking machines and 5-axis CNC machining centers. The company also offers various brands of machine tools, including the TMC series.
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Post time: Sep-16-2022