DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/mttkrw/machine_tool) has announced the addition of the "Machine Tool Market in India 2012-2016" report to their offering.
One of the key factors contributing to this market growth is the upsurge in the Indian auto ancillary industry. The Machine Tool market in India has also been witnessing the increased adoption of retrofitted machines. However, the threat of recession in the Indian market could pose a challenge to the growth of this market.
The key vendors dominating this market space are Gildemeister AG - Mori Seiki, Makino Milling Machine Co Ltd., and Yamazaki Mazak Corp.
The other vendors mentioned in the report are Okuma Corp., GF Agie Charmilles, Kitamura Machinery, Toyoda, Femco Machine Co LLC, Jyothi, Leadwell Machine Tools, ACE Micromatic Group, Lakshmi Machine Works Ltd, Bharat Fritz Werner Ltd, Batliboi Group, TAL Manufacturing Solution Ltd, Lokesh Machine Tools ltd, HMT Machine Tools ltd, Doosan, and Hass Automation Inc.
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.
For more information visit http://www.researchandmarkets.com/research/mttkrw/machine_tool