Boston, MA -- (SBWIRE) -- 06/01/2016 -- Machine tools are used to cut and shape metals and other materials based on the specifications of a product. They provide an effective and efficient method of manufacturing critical components with ease and accuracy. Machine tools can be either computer numeric controlled (CNC) or non-CNC. Non-CNC tools are also known as conventional machine tools, and are classified into machining centers, turning machines, grinding machines, and others.

The automotive industry is one of the largest consumers of machine tools in India. Machine tools are used extensively by companies across several applications such as die molding, part manufacturing, aerospace, shipbuilding, electrical and electronics, healthcare, and consumer durables. With rising population of middle class in India, the demand for automobiles is expected to increase.

Get More Details on this Report and a Full Table of Contents at Machine Tool Market in India 2016-2020

Technavio's analysts forecast the Machine Tools Market in India to grow at a CAGR of 12.6% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the Machine Tools Market in India for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of machine tools, indicated by consumption value in the report. The report provides market size based on both production and consumption of machine tools.

Technavio's report, Machine Tools Market in India 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

-ACE Micromatic
-Bharat Fritz Werner (BFW)
-HMT Machine Tools
-Jyoti CNC Automation
-Lokesh Machines

Other prominent vendors

-Francis Klein
-Heavy Engineering Corporation
-ITL Industries
-Lakshmi Machine Works
-MACPOWER CNC
-Makino India
-Miven Machine Tools
-Okuma
-Parirobotics

Market driver

-Growth of automotive industry in India
-For a full, detailed list, view our report

Market challenge

-Need for cost-effective technological solutions
-For a full, detailed list, view our report

Market trend

-Emergence of optimized machine tools
-For a full, detailed list, view our report

Key questions answered in this report

-What will the market size be in 2020 and what will the growth rate be?
-What are the key market trends?
-What is driving this market?
-What are the challenges to market growth?
-Who are the key vendors in this market space?
-What are the market opportunities and threats faced by the key vendors?
-What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst's time when you purchase this market report. Details are provided within the report.

Companies Mentioned in this Report: ACE Micromatic, Bharat Fritz Werner, HMT Machine Tools, Jyoti CNC Automation, Lokesh Machines, Francis Klein, Heavy Engineering Corporation, ITL Industries, Lakshmi Machine Works, MACPOWER CNC, Makino India, Miven Machine Tools, Okuma, Parirobotics, PMT Machines, Premier

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