Latest News- Machine Tool Market in India: CNC machine tools is expected to lead the Technology segment during 2025-2029

The Machine Tool Market in India is being driven by Rising industrial automation in India

The Machine Tool Market in India is expected to grow at a CAGR of 11.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3081 million. The machine tool market in India is witnessing a shift towards additive manufacturing, or 3D printing, due to its numerous advantages. This technology, which includes Directed Energy Deposition (DED), is gaining traction in the manufacturing sector due to its cost-effective production, rapid manufacturing process, ease of upgrades, energy efficiency, and minimal waste generation. International machine tool manufacturers have already started integrating 3D printing technology into their offerings. In a significant development, IIT engineers unveiled a metal 3D printer using DED technology in June 2023. The adoption of 3D printing in machine tools will increase in India, as it enables adherence to the diverse specification requirements of customers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • CNC machine tools
  • Conventional machine tools
• Type
  • Metal cutting machines
  • Metal forming machines
• Action Mechanism
  • Semi-automatic
  • Fully automatic
• Application
  • Automotive
  • Aerospace and defense
  • Heavy Engineering
  • Electronics
• Sales Channel
  • Direct Sales
  • Distributors
  • Online Sales
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising industrial automation in India
• Growing demand for machine tools from ICE-based automobiles
• Growing demand for CNC machine tools

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices used in machine tools production
• Ongoing slowdown of Indian economy
• Availability of used machine tools

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Market Scope in Machine Tool Market in India Research Report

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Research Analysis Overview

The Indian machine tool market encompasses a range of machinery including lathe machines, milling machines, drilling machines, grinding machines, and various other types. These machines facilitate turning, milling, boring, honing, and lapping operations. Advanced features such as tool wear monitoring, spindle speed control, feed rate optimization, chip control, coolant systems, and safety systems are increasingly being adopted. Machine design incorporates linear motors, servo drives, PLC programming, SCADA systems, and human-machine interfaces. Additionally, industries focus on material handling, waste management, CNC retrofitting, machine rebuilding, spare parts supply, technical training, maintenance contracts, and process monitoring.

Market Research Overview

The Machine Tool Market in India is a significant segment of the larger Global Industrial Machinery and Supplies and Components Market. This market encompasses businesses specializing in the production of CNC machining centers, metal cutting tools, high-speed machining, and precision grinding equipment. According to Technavio, the Global Industrial Machinery and Supplies and Components Market size is determined by the consolidated revenue generated by manufacturers of machinery and components employed in industrial applications. The expansion of the global economy, particularly in developing countries, is driving market growth. Factors contributing to this growth include increasing industrial output in process and discrete industries, rising demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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