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Machinery Industry in India

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MACHINERY SECTOR OVERVIEW

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

Machinery

Growth Drivers​

  • Govt has released a number of schemes to provide loans to farmers to buy agricultural machinery. ​

  • India is the favored outsourcing location by global manufacturing firms.​

  • Electrical machinery now allows 100% FDI in the sector.​

  • There is a rising global demand for better textile machinery.

Sub industries​

  • Construction Machinery & Heavy Trucks​

  • HVAC (this includes cooling towers)​

  • Industrial Machinery​

  • Material handling equipment​

  • Oil & Gas and Mining equipment​

  • Packaging machinery​

  • Pump & Compressor​

  • Tools including Hand tools​

  • Woodworking machinery​

Opportunities

  • The Indian electrical machinery industry is completely de-licensed and allows 100% FDI.​

  • The government’s Make in India scheme to make the country a manufacturing hub will lead to increased demand for machinery.​

  • Indian Electrical Equipment Industry Mission Plan (2012-22), was introduced by the government that aims to make India a preferred location for the production of electrical equipment.​

Challenges

  • With the looming fear of the third wave of COVID-19, the future of manufacturing is still uncertain.​

  • A number of projects have simply not started because of the pandemic. ​

    How we can help you:
    – Product-Pricing analysis

    – Strategies for – product/service localization

    – Market research to sell effectively

Summary/Snapshot​

  • The Indian textile machinery industry is expected to touch the $6 billion mark by 2022. It is one of the largest segments of the machinery manufacturing industry in India.​

  • India is the 4th largest importer of textile machines globally due to local production being unable to meet the growing demand. This points to growth potential for domestic manufacturing.

  • Amended Technology Upgradation Fund Scheme (ATUFS): This scheme aims to enable technology up-gradation in the textile sector. It provides capital investment subsidies across different segments of the textile value chain. ​

  • The government has approved a total of 15 Special Economic Zones or SEZs for the engineering sector, and electrical machinery is a part of the sector.​

  • The countries investing in electrical machinery in India are Japan, France, the UK, USA and Italy.​

  • The agriculture machinery sector is largely agricultural tractors. The Indian tractor industry is the world’s largest and contributes to one-third of the global production. They are exported to Malaysia, Turkey, and other countries.​

Key Investment Opportunities​

Material handling equipment has four categories: ​

  • storage and handling equipment​
  • engineered systems​
  • industrial trucks​
  • bulk material handling ​
  • The Indian machinery industry has the potential to become to meet the demand of both the domestic and international markets.​
  • With the government’s focus on manufacturing with the Make in India and AatmaNirbhar Bharat campaigns, there is a potential for growth for local machinery manufacturers.​

COVID Impact​

How has COVID affected the industry?

  • The industries that were dependent on the imports of heavy machinery and equipment were heavily hit during the pandemic.​

  • During the lockdown, manufacturing almost came to a grinding halt.​

  • Covid-19 also introduced several challenges including ensuring the safety of your employees, travel restrictions, mitigating the risk of future disruptions.​

Key Players in India

National

  • Voltas​

  • Larsen & Toubro​

  • Volvo Construction Equipment India​

  • Escorts Construction Equipment​

  • Terex Vectra Equipment Salgaocar Engineers​

  • B G Shirke Construction Equipment​

  • Bharat Earthmovers​

  • Telco Construction Equipment​

  • Ingersoll Rand India​

  • Caterpillar India​

     

     

     

     

     

International

  • JCB India​

  • Metso Minerals​

  • Atlas Copco​

  • Trane Technologies​

     

Map Clusters

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