Machine Tool Market in India 2022-2026

Global Machine Tool Market 2022-2026

Technavio has been monitoring the machine tool market and it is poised to grow by $ 2.54 bn during 2022-2026, accelerating at a CAGR of 13.04% during the forecast period. Our report on the machine tool market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current country market scenario, latest trends and drivers, and the overall market environment. The market is driven by rising industrial automation in India, growing demand for machine tools from ICE-based automobiles, and growing demand for CNC machine tools.

The machine tool market analysis includes the technology and type segments and geographic landscape.

Technavio's machine tool market is segmented as below:

By Technology

• CNC machine tools
• Conventional machine tools

By Type

• Metal cutting machines
• Metal forming machines

By Geographical Landscape

• India

This study identifies the adoption of 3D printing technology as one of the prime reasons driving the machine tool market growth during the next few years. Also, growing digitization in machine tools and the growing popularity of all-electric vehicles influencing the demand for machine tools will lead to sizable demand in the market.

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

• Machine tool market sizing
• Machine tool market forecast
• Machine tool market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading machine tool market vendors that include Alex Machine Tools Pvt. Ltd, Bharat Fritz Werner Ltd, BHURJI MACHINE TOOLS AND BMT ENGINEERS, Birla Precision Technologies Ltd, Geeta Machine Tools Pvt. Ltd., HMT Ltd., ITL Industries Ltd, Jai Industries, Jyoti CNC Automation Ltd., LAKSHMI MACHINE WORKS LTD., Lokesh Machines Ltd, Machine Tools India Ltd., Micromatic Machine Tools Pvt. Ltd., Okuma India Pvt. Ltd., Om International Machine Tools, TUSSOR MACHINE TOOLS INDIA PVT. LTD., Yamazaki Mazak Corp, Yash Machine Tools, and DMG MORI Co Ltd. Also, the machine tool market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.