According to the latest report of the IMARC group titled “India Machine Tools Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information on Machine tools market in India. The report also includes competitor and regional analysis, as well as contemporary market advancements. the The Indian machine tools market is expected to grow at a CAGR of 11.45% during the period 2022-2027.
Machine tools are motorized devices used to cut, form, drill, grind and abrade metals and fabricated components of identical shapes. These tools use various modes of operation to achieve industrial projects, such as numerical control (NC), computer numerical control (CNC) and direct numerical control (DNC). Machine tools operate through automated, repeatable cutting operations, which improve product consistency and reduce the overall human interaction required in the production process. These tools also offer higher production value, reduced manual effort, improved manufacturing efficiency and greater agility.
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Like the new coronavirus (COVID-19[feminine]) the crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the purchasing behavior of consumers around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Rising industrial automation represents the key driver for the growth of the machine tool market in India. The emergence of various small and medium-sized enterprises (SMEs) and the introduction of stringent product evaluation criteria in the country are further driving the growth of the market. Additionally, the establishment of numerous manufacturing plants in India by international companies is helping the market grow. Additionally, low labor and raw material costs and rising demand for energy have led to an increase in oil and gas exploration activities across the country, creating a positive outlook for the market. .
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Segmentation of the machine tools market in India:
Our report has categorized the market based on region, tool type, technology type, and end-use industry.
Breakdown by type of tool:
- metal cutting
- Metal forming
Breakdown by type of technology:
- CNC (Computer Numerical Control)
Breakdown by end-use industry:
- Aeronautics and Defense
- Electrical and Electronic
- Consumer goods
- precision engineering
Breakdown by region:
- North India
- West and Central India
- South India
- Eastern India
Main highlights of the report:
- Market performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
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