TechNavio today launched its report, Machine Tool Market in India 2012-2016, based on an in-depth analysis focusing exclusively on India. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Engineering team said: ”The increase in globalization and the consequent opportunities have paved the way for the emergence of low-cost manufacturing companies across the country. International players are investing in industries in developing countries such as India. The effective deployment of machine tools among small-scale industrial units enables them to deliver good-quality products in minimal time. However, despite the advantages obtained by the adoption of high-quality machine tools, the high cost of these machines hinders their adoption among companies in the MSME sector. For this reason, some organizations now prefer retrofitted machines. Retrofitting the legacy conventional machines such as machining centers, turning centers, and grinding machines with CNC controllers reduces the overall cost of investment. Thus, organizations across the country are adopting retrofitted grinding machines in order to tap the cost advantage.”
According to the report, one of the main drivers is the increasing need for products with enhanced dimensional accuracy. Therefore, to develop superior-quality products, machine tools are deployed across a range of industries in the country.
Further, the report reveals that one of the main challenges in this market is the increasing need for huge investment.
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/machine-tool-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 – Machine Tool Market in India 2012-2016
