COVID-19 Impacts: Machine Tool Market in India will Accelerate at a CAGR of almost 13% through 2020-2024 | Rising Industrial Automation in India to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#MachineToolMarketinIndia–Technavio has been monitoring the machine tool market in India and it is poised to grow by USD 1.9 billion during 2020-2024, progressing at a CAGR of almost 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions-

• What was the value of the machine tool market in India in 2019?
  Technavio says that the value of the market was USD 2.3 billion in 2019 and is projected to reach USD 4.19 billion by 2024.
• At what rate is the market projected to grow during the forecast period 2020-2024?
  Growing at a CAGR of almost 13%, the market growth will accelerate in the forecast period of 2020-2024.
• What is the key factor driving the market?
  Rising industrial automation in India.
• Who are the top players in the market?
  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. are the top players in the market.
• Which market segment is expected to hold the highest market share?
  CNC machine tools.
• What is the major trend for the machine tool market in India?
  Adoption of 3D printing technology.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants. Although the rising industrial automation in India will offer immense growth opportunities, the availability of used machine tools will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Rising industrial automation in India has been instrumental in driving the growth of the market. However, the availability of used machine tools might hamper market growth.

Machine Tool Market in India 2020-2024: Segmentation

Machine Tool Market in India is segmented as below:

• Type
  • Metal Cutting Machines
  • Metal Forming Machines
• Technology
  • CNC Machine Tools
  • Conventional Machine Tools

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Machine Tool Market in India 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our machine tool market in India report covers the following areas:

• Machine Tool Market in India size
• Machine Tool Market in India trends
• Machine Tool Market in India industry analysis

This study identifies the adoption of 3D printing technology as one of the prime reasons driving the machine tool market growth in India during the next few years.

Machine Tool Market in India 2020-2024: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the machine tool market in India, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research reports on the machine tool market in India are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Machine Tool Market in India 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist machine tool market growth in India during the next five years
• Estimation of the machine tool market size in India and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the machine tool market in India
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of machine tool market vendors in India

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Technology

• Market segments
• Comparison by Technology placement
• CNC machine tools – Market size and forecast 2019-2024
• Conventional machine tools – Market size and forecast 2019-2024
• Market opportunity by Technology

Market Segmentation by Type

• Market segments
• Comparison by Type placement
• Metal cutting machines – Market size and forecast 2019-2024
• Metal forming machines – Market size and forecast 2019-2024
• Market opportunity by Type

Customer Landscape

• Overview

Drivers, Challenges, and Trends

• Market drivers
• Volume driver – Demand led growth
• Volume driver – Supply led growth
• Volume driver – External factors
• Volume driver – Demand shift in adjacent markets
• Price driver – Inflation
• Price driver – Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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.
• Tussor Machine Tools India Pvt. Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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