India Machine Tool Market Analysis, Size, and Forecast 2025-2029

India Machine Tool Market Size 2025-2029

The India machine tool market size is forecast to increase by USD 3.08 billion at a CAGR of 11.6% between 2024 and 2029. The market is experiencing significant growth, driven by the increasing adoption of industrial automation and the integration of advanced technologies such as 3D printing. This automation wave is transforming various industries, leading to an escalating demand for precision machine tools.

Major Market Trends & Insights

• Based on the Technology, the CNC machine tools segment led the market and was valued at USD 3 billion of the global revenue in 2022.
• Based on the Type, the Metal cutting machines segment accounted for the largest market revenue share in 2022.

Market Size & Forecast

• Market Opportunities: USD 180.21 Million
• Future Opportunities: USD 3.08 Billion
• CAGR (2024-2029): 11.6%

Furthermore, the adoption of 3D printing technology is revolutionizing the manufacturing sector, enabling the production of complex components with minimal wastage and reduced production time. However, the market faces challenges in the form of volatile raw material prices used in machine tool production. These fluctuations pose a significant risk to manufacturers, requiring them to maintain price competitiveness while managing their input costs. To capitalize on the market opportunities, companies must focus on innovation, efficiency, and cost management. Strategic partnerships, collaborations, and mergers and acquisitions could also be crucial in navigating the competitive landscape and staying ahead of market trends.

What will be the size of the India Machine Tool Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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• The market continues to evolve, with various sectors adopting advanced technologies to enhance productivity and efficiency. Grinding machines and lapping operations have gained significant traction in the automotive industry, while milling machines and milling operations dominate the manufacturing sector. The integration of chip control, servo drives, safety systems, coolant systems, and process monitoring has led to feed rate optimization and tool wear monitoring, resulting in a 10% increase in productivity for several manufacturers. Moreover, the implementation of SCADA systems, PLC programming, and machine rebuilding has facilitated spindle speed control, human-machine interface, and waste management. CNC retrofitting and machine tool design have further boosted the market, with linear motors and technical training enabling machine rebuilding and spare parts supply. The metal cutting machines segment is the second largest segment of the type and was valued at USD 3.08 billion in 2022.
• The industry is expected to grow at a rate of 12% annually, driven by the ongoing demand for precision engineering and automation in various industries. For instance, drilling machines have seen increased adoption in the construction sector, contributing to its growth.

How is this India Machine Tool Market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

• Technology
  • CNC machine tools
  • Conventional machine tools
• Type
  • Metal cutting machines
  • Metal forming machines
• Action Mechanism
  • Semi-automatic
  • Fully automatic
• Application
  • Automotive
  • Aerospace and defense
  • Heavy Engineering
  • Electronics
• Sales Channel
  • Direct Sales
  • Distributors
  • Online Sales
• Geography
  • APAC
    • India

By Technology Insights

The CNC machine tools segment is estimated to witness significant growth during the forecast period. The segment was valued at USD 3 billion in 2022. It continued to the largest segment at a CAGR of 9.92%.

In the dynamic Indian manufacturing landscape, industrial advancements have been a driving force for growth. CNC machining centers, a key component of industrial automation, have gained significant traction due to their ability to enhance productivity and reliability. These advanced metalworking machines, used in various applications such as lathes, mills, lasers, abrasives, punches, and presses, enable manufacturers to produce complex parts for tech industries. The integration of Computer Numerical Control (CNC) technology with other systems, like Automated Guided Vehicles (AGVs) and Quality Control Systems, optimizes processes and reduces defects. Additionally, the implementation of machining simulation, process capability analysis, and tolerance analysis further improves manufacturing efficiency.

The adoption of Digital Twin Technology and Predictive Maintenance facilitates proactive machine tool maintenance, ensuring longer tool life and minimizing downtime. Furthermore, the surge in demand for high-precision components has led to the increasing popularity of Precision Grinding and High-Speed Machining. The Indian machine tool market is expected to grow by approximately 10% annually, as manufacturers continue to invest in advanced technologies to meet the evolving needs of their customers. For instance, a leading automotive component manufacturer reported a 15% increase in sales after implementing a CNC machining solution with advanced tool life optimization and machining simulation capabilities.

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Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

• The market is witnessing significant growth due to the increasing demand for high-precision metal cutting techniques in various industries. CNC machine tool accuracy specifications have become a crucial factor in this trend, as manufacturers seek to improve product quality and meet tight tolerances. Automated machine tool loading systems and machining process optimization strategies are also gaining popularity to increase efficiency and reduce labor costs. Advanced CNC programming techniques and digital twin applications in machining are transforming the way machine tools are operated, enabling real-time monitoring and predictive maintenance for machine tools. Effective coolant management techniques and optimizing tool life in CNC machining are essential to ensure consistent performance and minimize downtime.
• Implementation of advanced machining processes, such as high-speed machining and five-axis machining, requires careful design considerations for machine tool fixtures and the integration of CAD-CAM software solutions. Advanced quality control methods for machined parts, including non-destructive testing and statistical process control, are essential to maintain high-quality standards. Effective machine tool thermal management and reducing vibration in high-speed machining are critical to ensure consistent performance and prolong the life of machine tools. Maintenance procedures for CNC machine tools, including regular cleaning, lubrication, and calibration, are essential to maintain optimal performance. Best practices for machine tool safety, such as proper guarding and operator training, are crucial to minimize risks and ensure a safe working environment.
• Selection of cutting tools for specific materials and economic analysis of machine tool investment are also important factors to consider when investing in machine tools for Indian industries.

What are the India Machine Tool Market drivers leading to the rise in adoption of the Industry?

• Rising industrial automation serves as the primary driver for India's market growth.

• The Indian machine tool market is experiencing significant growth due to the increasing demand for automation in manufacturing. Automation is driving productivity and reducing labor inputs, making it a priority for Indian manufacturers. This trend is reflected in the double-digit growth rate of industrial automation in India since 2015, reaching over 10%. As a result, there is a growing need for advanced machine tools to meet the complex machining requirements of automated technologies.
• For instance, the production of high-tech machinery will necessitate the use of sophisticated machine tools. This market dynamic underscores the importance of machine tools in the manufacturing sector's transformation. The market is expected to continue growing robustly, with industry experts projecting a substantial increase in demand.

What are the India Machine Tool Market trends shaping the Industry?

• The adoption of 3D printing technology is becoming increasingly mandated in various industries. This emerging market trend signifies a significant shift towards advanced manufacturing processes.

• The market is witnessing a surge in the adoption of additive manufacturing technology, also known as 3D printing. This trend is primarily driven by several factors, including the cost-effectiveness of manufacturing, faster production times, ease of upgrading, and energy efficiency. Consequently, international machine tool manufacturers are increasingly integrating 3D printing technology into their offerings. For instance, engineers from the Indian Institute of Technology (IIT) developed a metal 3D printer using Directed Energy Deposition (DED) technology in June 2023. The implementation of 3D printing technology in machine tools is expected to grow significantly due to its ability to meet the specific requirements of various customers.
• Overall, the market for machine tools in India is poised for robust growth, offering numerous opportunities for businesses in this sector.

How does India Machine Tool Market face challenges during its growth?

• The volatility in the pricing of raw materials essential for machine tool manufacturing poses a significant challenge to the industry's growth trajectory.

• The market is influenced by the volatility of steel prices, which is a primary raw material. Steel's fluctuating cost, driven by macroeconomic factors such as inflation, labor costs, and regulatory policies, significantly impacts the industry. For instance, the Russian-Ukrainian crisis in early 2022 caused a surge in steel prices, negatively affecting machine tool manufacturing in India due to Russia's status as a significant global steel exporter.
• Furthermore, the growing number of production facilities in various end-user industries intensifies competition among raw material suppliers, adding to market dynamics. According to recent reports, the machine tool industry in India is expected to expand by over 10% in the coming years, demonstrating its robust growth potential.

Exclusive India Machine Tool Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Accusharp Cutting Tools Pvt. Ltd.
• Ace Multi Axes Systems Ltd.
• Ahire Machine Tools
• Ajinkya Industries
• Alex Machine Tools Pvt. Ltd.
• Bharat Fritz Werner Ltd.
• Bhavya Machine Tools
• Birla Precision Technologies Ltd.
• DMG MORI Co. Ltd.
• Gamut Machine Tools
• Geeta Machine Tools Pvt. Ltd.
• General Machine Tools
• HMT Ltd.
• ITL Industries Ltd
• Jyoti CNC Automation Ltd.
• Lakshmi Machine Works Ltd.
• Lokesh Machines Ltd.
• Makino Milling Machine Co. Ltd.
• Okuma Corp.
• Om International Machine Tools

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Machine Tool Market In India

• In January 2024, Tata Technologies, a leading engineering and technology services company, announced the launch of its advanced manufacturing solutions for the machine tool industry in collaboration with Siemens AG. This strategic partnership aimed to provide Indian manufacturers with state-of-the-art digital manufacturing solutions (Source: Business Wire).
• In March 2024, the Indian government approved the establishment of the National Tool Room and Training Centre under the Ministry of Heavy Industries, with an investment of INR 100 crore. The center will focus on tool design, manufacturing, and training to boost the machine tool industry (Source: PIB India).
• In July 2024, Schaeffler India, a leading automotive and industrial supplier, announced the expansion of its machine tool production capacity in Pune, Maharashtra. The investment of INR 150 crore will increase the company's annual production capacity by 50% (Source: Money Control).
• In May 2025, the Indian Machine Tool Manufacturers' Association (IMTMA) signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT) Madras to collaborate on research and development projects in advanced manufacturing technologies. The partnership will focus on developing innovative solutions to meet the growing demands of the machine tool industry (Source: IMTMA Press Release).

Research Analyst Overview

The market continues to evolve, driven by advancements in various sectors. Thermal management solutions, for instance, are gaining traction as industries seek to enhance production efficiency and reduce downtime. Automated guided vehicles (AGVs) are increasingly being integrated into manufacturing processes to optimize workholding systems and improve process capability analysis. Quality control systems, a critical component of industrial automation, are being augmented with advanced inspection techniques and machining process optimization. For instance, a leading automotive component manufacturer reported a 20% increase in sales due to the implementation of a robust quality control system. The machine tool industry is expected to grow at a steady pace, with industry growth expectations hovering around 10%.

Metal cutting tools and CNC machining centers are being augmented with digital twin technology and machining simulation to improve surface finish and precision grinding. Industrial automation is further being enhanced through the integration of CAD software and robotics, enabling multi-axis machining and predictive maintenance. Additive manufacturing, including 3D printing metals, is disrupting traditional manufacturing processes, while high-speed machining and cutting fluid selection are being optimized for increased productivity. Metrology equipment and G-code programming are essential tools for ensuring tolerance analysis and tool life optimization. Vibration analysis and computer numerical control (CNC) programming are also crucial for maintaining machine tool performance and productivity.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Machine Tool Market in India insights. See full methodology.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2025 and 2029
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across India
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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