Press Release

India Machine Tools Market to be Dominated by Metal Cutting Machines through 2029

The growing focus on augmenting productivity and reducing downtime is likely to boost the India Machine Tools Market during the forecast period.


According to TechSci Research report, “India Machine Tools Market - By Region, Competition, Forecast & Opportunities, 2029, the India machine tools market is predicted to proliferate during the projection period, thanks to technological developments, such as multi-axis arms and robots and the expansion of the manufacturing sector. In addition, the increased emphasis on boosted productivity and decreasing downtime is propelling the market. The Indian government projects that an investment of nearly USD 8–10 billion (domestic and foreign, both) will be made in the automotive sector by the end of 2023.

Based on technology, the CNC machine tools segment is expected to dominate the market during the forecast period. Based on technology, the market is divided into the computerized numerical control (CNC) segment and the conventional segment. Due to the rising need for process automation across sectors, the CNC tools segment is anticipated to dominate the market in the near future. Another factor that is expected to boost the India machine tools market is the expanding automation of manufacturing processes due to the rising demand for greater precision and shorter lead times. Thus, major manufacturers are concentrating on developing CNC systems to meet the diverse industry requirements. On the other hand, with end users switching from traditional machines to CNC machines, the conventional tools market is anticipated to rise steadily over the next few years.

CNC tools optimize business operations by speeding up manufacturing and reducing human errors. The rising need in the industrial sector for automated manufacturing has led to an increase in the use of CNC machines. Also, the development of industrial facilities in India has accelerated the industry's use of CNCs. In an effort to gain a competitive edge, many firms concentrate on efficient manufacturing processes. They redesign CNC machines in their buildings. Also, some new production units are increasingly integrating 3D printing with CNC machines, which should improve their multi-material capacity and reduce resource waste.


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Based on tools type, the metal cutting tools segment is expected to dominate the market over the forecast period. The high demand for metal cutting tools in the construction and automotive sectors is aiding the market significantly. Apart from this, the rising demand for these tools in a variety of industries, the segment is anticipated to retain its dominance throughout the forecast period.

The development of the automotive sector has been positively impacted by the ongoing improvements in management and manufacturing processes. The building industry has expanded as a result of the increased demand for office space and residential development. Also, the machine tool business is anticipated to grow over the coming years as a result of the rising demand from the aerospace sector thanks to the cost advantages it offers.

Metal forming tools find considerable application in a variety of operations that includes forming, bending, shaping, pressing, and shearing. The market for metal forming tools is anticipated to be driven by the use of press brake equipment. This is due to the widespread usage of press brake metal forming machines as a tool for sheet bending in numerous production sectors, including agriculture, automotive, aerospace, shipbuilding, and petroleum machinery.

Based on end user, the automotive segment is likely to dominate the India machine tools market during the forecast period. Machine tools are extensively utilized in the manufacturing of vehicle components. They are widely used for metal cutting and the fabrication of small machine components even though the automotive industry uses a range of manufacturing techniques. This is because they offer various benefits, such as enhanced accuracy, dependability, and efficiency.


Key market players in the India Machine Tools Market include:

  • 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.


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“The India Machine Tools Market is expected to expand tremendously during the forecast period. The need for machine tools in the automotive, industrial, and transportation machinery industries has had an impact on their production capabilities. Also, due to the transition from traditional equipment to CNC machines, providers are concentrating on the digital transformation of the machinery. The end-use industry's requirement for high productivity, high quality, and short cycle times is what led to this change, a number of other factors will also propel the market in the near future,” said Mr. Karan Chechi, Research Director at TechSci Research, a research-based global management consulting firm.

India Machine Tools Market –Segmented 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 Country, Competition, Forecast and Opportunities, 2029, has evaluated the future growth potential of India Machine Tools Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India Machine Tools Market.


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