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Machinery Industry in India- An Overview

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MACHINERY SECTOR OVERVIEW-2020

Statistics, news & updates: everything you need to know about the Entertainment Industry in India

 

Snapshot

Summary

India Machinery industry around which all the industrial manufacturing takes place in the country. The Machinery industry in India has a potential in meeting the enormous demand of goods, both in the domestic as well as the international market. As a matter of fact, the machinery industry in India forms the backbone of the manufacturing sector by supplying all the necessary equipment’s and machinery required for production. Machinery of various types is required for production. Consequently it Depends on the field where their use is, machinery can be large scale, medium scale or small scaled. Additionally, India is one of the leading exporters of machines for the steel industry, mining equipment’s for the mining industry, and equipment’s for the fertilizer industry, cement industry, petrochemical manufacturing industry and heavy engineering equipment’s.

Covid Impact
Imports of heavy machinery and equipment on which our manufacturing and other industries are crucially dependent have been going down. The import of these capital goods is important for maintaining a threshold on output expansion, as many sectors that feature in India’s major exports are also in India’s top imports.

In March 2021 the IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) slipped to a seven-month low of 55.4 from 57.5 in February 2021. Data for April indicates a slight improvement to 55.5 after declining to a seven-month low in March at 55.4. According to a survey conducted by United Nations Industrial Development Organization (UNIDO), after the lockdown was imposed last year, manufacturing in India had stopped, except for the rice milling sector where production reportedly dropped by half. In manufacturing, some of the most affected industries have been metals and chemical products, motor vehicles, machinery and equipment, textiles, etc.

The statistics below is from Industry data available on pre-Corona virus impact.

Key Players in India

National

  • Voltas
  • Telco Construction Equipment
  • Bharat Earthmovers
  • B G Shirke Construction Equipment
  • Terex Vectra Equipment Salgaocar Engineers
  • Volvo Construction Equipment India
  • Larsen & Toubro
  • Ingersoll Rand India
  • Caterpillar India
  • Escorts Construction Equipment

International

  • JCB India
  • Metso Minerals
  • Atlas Copco
  • Trane Technologies
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