Machine Tool Market in India by Type and Technology - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41589

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The machine tool market in India has the potential to grow by USD 1.9 billion during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 12.78%.

This machine tool market research report of India provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by type (metal cutting machines and metal forming machines) and technology (CNC machine tools and conventional machine tools). The machine tool market report of India also offers information on several market vendors, including Bharat Fritz Werner Ltd., DMG MORI Co. Ltd., HMT Ltd., ITL Industries Ltd., Jyoti CNC Automation Ltd., Lakshmi Machine Works Ltd., Machine Tools India Ltd., Micromatic Machine Tools Pvt. Ltd., Okuma India Pvt. Ltd., and Tussor Machine Tools India Pvt. Ltd. among others.

What will the Machine Tool Market Size in India be in 2020?

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Machine Tool Market in India: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growth of the automotive industry is notably driving the machine tool market growth in India, although factors such as availability of used machine tools may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the machine tool market in India get your FREE report sample now.

This machine tool market analysis report of India also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Machine Tool Market Vendors in India?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:


  • Bharat Fritz Werner Ltd.
  • DMG MORI Co. Ltd.
  • HMT Ltd.
  • ITL Industries Ltd.
  • Jyoti CNC Automation Ltd.
  • Lakshmi Machine Works Ltd.
  • Machine Tools India Ltd.
  • Micromatic Machine Tools Pvt. Ltd.
  • Okuma India Pvt. Ltd.
  • Tussor Machine Tools India Pvt. Ltd.


The machine tool market in India is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the machine tool market forecast report of India for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Type Segments in the Machine Tool Market in India?

Machine-Tool-Market-In-India-Market-Share-by-Type – 2019*-2019-2024

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The machine tool market share growth in India by the metal cutting machines segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2020-2024 and embrace technologies to improve business efficiency.

Request for a free sample of the report to get an exclusive glimpse of actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the machine tool market size in India.



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What are the Key Factors Covered in this Machine Tool Market Report of India?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive machine tool market growth in India during the next five years
  • Precise estimation of the machine tool market size in India and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of machine tool market vendors in India

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The machine tool market growth will increase by $1897.69 million during 2019-2024.
The machine tool market is expected to grow at a CAGR of 12.78% during 2019-2024.
Technavio has segmented the machine tool market by technology (CNC machine tools and Conventional machine tools) and geographic (Afghanistan and Africa).
Bharat Fritz Werner Ltd., DMG MORI Co. Ltd., HMT Ltd., ITL Industries Ltd., Jyoti CNC Automation Ltd. , Lakshmi Machine Works Ltd., Machine Tools India Ltd., Micromatic Machine Tools Pvt. Ltd., Okuma India Pvt. Ltd., Tussor Machine Tools India Pvt. Ltd. are a few of the key vendors in the machine tool market.
Afghanistan will register the highest growth rate of 50.00% among the other regions. Therefore, the machine tool market in Afghanistan is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the machine tool market growth are:
  • Rising industrial automation in India
  • Adoption of 3D printing technology
The machine tool market vendors should focus on grabbing business opportunities from the cnc machine tools segment as it accounted for the largest market share in the base year.
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