Machine tools manufacturing Industry is a very planned and important industry today. Indian manufacturing industry has grown many fold be it automobiles, aerospace, defense, electric machinery. For a country to progress, to become influential it must progress in technology. Today technology and industry play a very important role in our lives. Take a look around yourself, almost everything is machine made or machine operated.
Machine Tool Industry Market in India
At present the machine tool industry in India is worth two billion US dollars and is estimated to boost to 4 billion dollars according to ( IMTMA) Indian Tool Manufacturers Association. Globally, in the field of production India ranks 13th. There are about 450 industrial units manufacturing tools, parts, accessories, attachments and parts. The organized sector has about 150 units and 70% of the production output is by the key ten manufacturing units.
Growth of Machine Tool Industry Market
Since 2002 industry has experienced an excellent rate of growth. This happened because the main global industries outsourced manufacturing to India which in turn led to increase in demand. Now the Indian industry is exporting to various countries. As the government is laying emphasis on more investment in this tool industry, it is sure to grow and become the global hub for manufacturing tools.
A wide range of metal cutting and metal forming equipments are being manufactured by the Indian machine tool industry. They are making manually operated machines as well as computer numerically controlled machines. More people are now opting for superior numerically controlled machines as less man power is needed for these and the output is enhanced.
Different Machines in Machine Tool Market
Indian industry is also designing and producing machines for special purpose like TPM friendly machines, handling systems, robotics etc. These have integrated the sophisticated and complex features of technology from many advanced countries. Value added low cost machines are also made to meet specific requirements of customers.
The main raw materials needed by the machine tools industry like ferrous, non ferrous metals (steel and aluminum) are easily available in India. Moreover, India has a stable foundry industry to support industry for complex and good quality castings. As compared to global industry India is the 6th largest producer of castings.
The Bottom Line
The machine tool manufacturing industry of India has experienced a major change in its views. It is known for its low cost but high quality products. The pillars of the complete manufacturing industry are the equipments manufacturers as capital goods are produced by them. The growth of equipments industry has a huge impact on the whole manufacturing industry.
Some of the machines manufactured are lathe machines, drill machines, shearing machines, wood working machines, press brakes, tool room machines, sheet metal machines, power tools, machines accessories, welding machines, automobile and garage machinery etc. These machines and tools are being exported to many countries like South Africa, Zimbabwe, Dubai, UAE, Daman, Saudi Arabia etc.
Indian machine tools manufacturing industry is an extremely innovative industry where products are manufactured by the transferring technology from a leader of technology.