November 29, 2021

USD 1.9 bn growth for Machine Tool Market in India from 2019 to 2024| 17000+ Technavio Reports

NEW YORK, Nov. 11, 2021 /PRNewswire/ — Technavio’s latest research report on the Machine Tool Market In India offers a…

NEW YORK, Nov. 11, 2021 /PRNewswire/ — Technavio’s latest research report on the Machine Tool Market In India offers a comprehensive analysis of new product launches, the latest trends, drivers & challenges. The machine tool market in India is estimated to grow by USD 1.9 billion from 2019 to 2024, growing at a CAGR of almost 13%.

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Market Dynamics

Factors such as the growth of the automotive industry, and rising industrial automation in India will be crucial in driving the growth of the market. But the availability of used machine tools will restrict the market growth.

Company Profiles

The machine tool market in India report includes information on the product launches, sustainability, and prospects of leading vendors including 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., and Tussor Machine Tools India Pvt. Ltd.

Some Companies Mentioned with Key offerings

  • Bharat Fritz Werner Ltd. –  The company offers different types of machine tools such as Five-Axis Machining Solutions, special purpose machines, vertical lathes, vertical machine centers, and others
  • DMG MORI Co. Ltd. – The company offers machine tools under the CLX brand in India.
  •  HMT Ltd.- The company offers CNC flatbed lathes, CNC sant bed lathes, CNC bar turning center, CNC trainer lathe, and other products

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

  • By Type, the market is classified as metal cutting machines and metal forming machines.
  • By Technology, the market is classified as CNC machine tools and conventional machine tools.

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Machine Tool Market In India Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 13%

Market growth 2020-2024

USD 1.9 billion

Market structure

Fragmented

YoY growth (%)

12.54

Regional analysis

India

Performing market contribution

CNC Machine Tools at 89%

Key consumer countries

India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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., and Tussor Machine Tools India Pvt. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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