TechNavio recognizes the following companies as the key players in the Gear Manufacturing Market in India: Ashoka Machine Tools Pvt. Ltd., Bharat Gear Ltd., and Eaton Corp.
Commenting on the report, an analyst from TechNavio’s Engineering team said: ”Since the global economic downturn, there has been a steady increase in the economy of India. This has paved the way for the emergence of cost-driven manufacturing companies across the country. Several organizations from the Europe, Middle East, and Africa (EMEA) region and the Americas are increasingly outsourcing their manufacturing activities to developing countries such as India and China. This is mainly because of the availability of low-cost labor and a skilled workforce in these countries. In addition, this move helps companies increase their market presence in new geographies. Thus, the increase in the outsourcing of manufacturing activities leads to increased investment from both domestic and international vendors. This in turn drives the growth of the Gear Manufacturing market in India.”
According to the report, a major force driving the market is the increasing demand for gears from the Automotive industry. In addition, the Automotive industry in India is one of the major contributors to the country™s gross domestic product. In 2013, India is expected to become one of the fastest-growing passenger car markets and the second-largest two-wheeler manufacturer.
Further, the report states that a major challenge in the market is the increase in capital expenditure. The prices of gears are increasing due to the increase in the prices of raw materials.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Shanti Gears Ltd., V.V. Enterprises, Bevel Gears Pvt. Ltd., ZF Friedrichshafen AG, Hi-Tech Gears Ltd., SRS Gears and Sprockets, and Mahindra and Mahindra Ltd.
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 a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/gear-manufacturing-market-india-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/engineering-software
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TechNavio Announces the Publication of its Research Report – Gear Manufacturing Market in India 2012-2016
