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The India machine tools market is expected to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Machine tools are utilized to perform a wide range of operations, such as cutting, forming, drilling, grinding and abrading. These tools enhance product uniformity and reduce the manual efforts required. At present, various machine tools are available in the Indian market, ranging from small workbench mounted instruments to large devices that are employed in the automotive, aerospace and electronics industries.
Rising industrial automation to increase the overall productivity and improve the ergonomics represents one of the significant factors stimulating the market growth in India. Apart from this, an increase in the number of small and medium-sized enterprises (SMEs), along with stringent evaluation criteria on product quality, is bolstering the market growth. Furthermore, due to lower labor and raw materials costs and reduced tax rates, several foreign companies are setting up their manufacturing bases in India. This is further providing growth opportunities to these manufacturers to expand their consumer base in the country. Moreover, the escalating energy demand is leading to the exploration of new oil and gas fields in India, which is expected to create a positive influence on market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the India machine tools market, along with forecasts at the country and regional level from 2021-2026. Our report has categorized the market based on tool type, technology type and end use industry.
Breakup by Tool Type:
Breakup by Technology Type:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2020|
|Segment Coverage||Tool Type, Technology Type, End Use Industry, Region|
|Region Covered||North India, West and Central India, South India, East India|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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