The Indian machine tools industry, though highly fragmented, is projected to grow at 5.5 per cent annually through 2019, driven particularly by expanding demand in China and other developing countries.

With presence of several small, medium and large suppliers, including international and regional players, the companies engaged in machine tools manufacture compete in product differentiation, service portfolio and pricing.

Core trends

“Process automation, additive manufacturing and the rise of electric vehicles are the three core trends that are changing the dimensions of the machine tool industry,” notes Cyril Pereira, Managing Director, Reed Triune Exhibitions Pvt Ltd.

Stating that the industry is growing at an exponential rate and is presently estimated at around ₹6,000 crore, he said the manufacturers will need to develop capabilities to cater to the demand and investments in this area could yield long-term benefits.

In a chat with BusinessLine , he said that the industry has advanced significantly in hardware and software applications. The future includes automation of processes into manufacturing and engineering sectors. Reduced manual intervention in process control using machine tool control system and smart tooling would be the key to optimise cost, reduce scrap and improved machine utilisation.

India stands 17th in production and 12th in the consumption of machine tools in the world, he said citing an IBEF report on machine tools market and opportunities. The industry faces stiff competition from China, Germany and the US.

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