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India’s Machine Tool Market to Grow by USD 2.78 Billion (2024-2028), with AI-Driven Insights on Rising Industrial Automation Boosting Revenue – Technavio

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NEW YORK, Oct. 4, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Machine Tool Market in India  size is estimated to grow by USD 2.78 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 11.89%  during the forecast period. Rising industrial automation in India is driving market growth, with a trend towards adoption of 3D printing technology. However, fluctuations in raw material prices used in machine tools production  poses a challenge – Key market players include 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., and Om International Machine Tools.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (CNC machine tools and Conventional machine tools), Type (Metal cutting machines and Metal forming machines), and Geography (APAC)

Region Covered

India

Key companies profiled

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., and Om International Machine Tools

Key Market Trends Fueling Growth

The machine tool market in India is witnessing a notable trend towards the adoption of additive manufacturing, or 3D printing, technology. This technology offers several advantages, including lower manufacturing costs, faster production, ease of upgrades, low energy consumption, and reduced waste. International machine tool manufacturers are increasingly incorporating 3D printing technology into their offerings. In June 2023, IIT engineers introduced a metal 3D printer using Directed Energy Deposition (DED) technology. The ability to meet customer specification requirements is another significant factor driving the adoption of 3D printing in machine tools. Technavio predicts that prominent market vendors will focus on developing this technology further during the forecast period. The advancements in 3D printing are expected to significantly contribute to the growth of the machine tool market in India. 

The Indian machine tool market is witnessing significant growth, driven by trends in turning machines, electrical discharge machining, grinding machines, drilling machines, and eco-friendly coolants. Automation, advanced manufacturing processes, multi-axis arms, and robotics are also gaining popularity. Downtime reduction is a key focus, with electric vehicles and automotive components leading the way. Eco-friendly practices, artificial intelligence, and the Internet of Things are transforming manufacturing. Aerospace, precision manufacturing, 3D printing, CAD, and CAM are also thriving. Foreign direct investment in advanced machining techniques, high precision manufacturing processes, and integrated systems is increasing. Sustainable manufacturing, electrification, and high-quality components are essential for the future. Metal cutting and forming, 5-axis CNC milling, mechanical engineering, and metalworking continue to be core sectors. The market is poised for growth in sectors like aerospace, aircraft manufacturing, and semiconductor manufacturing. 

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Market Challenges

The machine tool market in India is significantly influenced by the price fluctuations of its major raw material, steel. The Russian-Ukrainian crisis and subsequent increase in steel prices have impacted the industry, with Russia being the second-highest exporter of semi-finished steel to India. The price volatility of base iron ore, a primary component of steel, also affects the market. In 2020, the pandemic led to a negative impact on raw material prices due to disrupted supply chains and lockdowns. However, in 2021, the resumption of supply chain operations and large-scale vaccination drives led to a decrease in raw material prices. Despite these fluctuations, the increasing competition among raw material suppliers due to the expansion of production facilities in various end-user industries compels them to pass on price increases to downstream industries, including machine tool manufacturers. These uncertainties in raw material procurement plans may hamper the growth of the machine tool market in India during the forecast period.The Indian machine tool market is witnessing significant growth due to increasing demand for precision manufacturing in sectors like aerospace, automotive, and electronics. Challenges include adopting advanced machining techniques such as 3D printing, Computer-Aided Design (CAD), and Computer-Aided Manufacturing (CAM). Digital transformation through Computerized Numerical Control (CNC) and smart manufacturing is crucial. Aircraft manufacturing and metal & mining require high-quality components, driving investment in advanced machine tools. Precision engineering, customization, and real-time monitoring are essential for sustainable manufacturing. Foreign direct investment in India’s manufacturing sector is expected to boost the market, with trends like electrification, adaptive control, and integrated systems shaping the future. CNC lathes, routers, and milling machines are popular choices for mechanical engineering and metalworking industries. Standardization through MTConnect and smart factories ensure efficient production and customization. Semiconductor manufacturing and manufactured goods also benefit from high-precision components and digital technologies.

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Segment Overview 

This machine tool market in India report extensively covers market segmentation by

Technology 1.1 CNC machine tools1.2 Conventional machine toolsType 2.1 Metal cutting machines2.2 Metal forming machinesGeography 3.1 APAC

1.1 CNC machine tools-  In India’s manufacturing sector, the demand for machine tools is on the rise, with a particular focus on Computer Numerical Control (CNC) machines. Manufacturers are prioritizing productivity and reliability, leading to the integration of industrial automation. CNC machines offer additional flexibility and computational capabilities compared to conventional tools. These advanced metalworking machines are used in various applications, including lathes, mills, lasers, abrasives, punches, presses, and more. CNC milling tools are commonly used in the automotive industry for manufacturing components such as transmissions, gearbox cases, engine cylinder heads, flywheels, wheels, pistons, and fuel injectors. Traditional lathe solutions, like vertical turning lathes, are also utilized for heavy-duty cutting in brake disc applications. The increasing production requirements and competition among manufacturers are driving the adoption of CNC machines in India. Key vendors in the market, like Lakshmi Machine Works Ltd., are introducing new products, such as the Smart Minimaster, an ultra-compact CNC lathe, to expand their market share. Automated machine tools, such as CNC machines, increase throughput and lower cycle times, ensuring product quality and consistency. Manufacturers are adopting various CNC machines, including grinding machines and vertical or horizontal machining centers, to manufacture components at higher production rates. This trend is expected to fuel the growth of the CNC machine tools segment of the machine tool market in India during the forecast period.

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Research Analysis

The Machine Tool Market in India is witnessing significant growth due to the increasing demand for manufactured goods and the production of advanced machine tools. Precision is a key factor in the Indian machine tool industry, with a focus on customization and the production of high-precision components. Multi-axis arms, robotics, and computerized numerical control (CNC) machines are popular technologies used in the industry. Downtime is a critical concern for machine tool manufacturers, leading to the adoption of smart manufacturing, integrated systems, and artificial intelligence. The Indian machine tool industry is also leveraging the Internet of Things (IoT) and electrification to improve efficiency and productivity. The market for machine tools in India is diverse, catering to various industries such as automotive components, electric vehicles, aerospace, precision manufacturing, metal & mining, and high-quality components. The adoption of sustainable manufacturing practices is also gaining momentum in the industry, making it an exciting space to watch.

Market Research Overview

The Machine Tool Market in India is witnessing significant growth due to the increasing demand for manufactured goods that require high-precision components. Advanced machine tools, such as CNC lathes, milling machines, turning machines, drilling machines, grinding machines, and electrical discharge machining, are in high demand for producing components with utmost precision. Digital technologies like Computer Numerical Control (CNC), real-time monitoring, adaptive control, and MTConnect are transforming traditional machine tools into smart manufacturing systems. The market is also witnessing the adoption of digital technologies like artificial intelligence, Internet of Things, and automation, leading to the development of smart factories. The market caters to various industries, including automotive, aerospace, metal & mining, and electronics, among others. Eco-friendly coolants and sustainable manufacturing practices are gaining popularity to reduce the carbon footprint. The market is expected to witness significant growth due to foreign direct investment, advanced manufacturing processes, and the increasing demand for high-quality components in various sectors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyCNC Machine ToolsConventional Machine ToolsTypeMetal Cutting MachinesMetal Forming MachinesGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Air Products to Expand Industrial Gas Supply for Samsung Electronics’ Next-Generation Semiconductor Fab in South Korea

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New investment underscores the company’s long-term commitment to Korea and its leading role in the global semiconductor industry 

LEHIGH VALLEY, Pa., April 29, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company and serving Samsung globally, today announced it has been selected by Samsung to supply industrial gases for its new advanced semiconductor fab in Pyeongtaek, Gyeonggi Province, South Korea.

Under the agreement, Air Products will build, own and operate multiple state-of-the-art production facilities and a bulk specialty gas supply system to supply nitrogen, oxygen, argon, and hydrogen for Samsung’s new semiconductor fab. The new facilities are expected to come onstream in multiple phases from 2028 through 2030.

Air Products has a long track record of executing multiple phase expansions in Pyeongtaek to support Samsung’s growing manufacturing needs. This latest project represents Air Products’ largest investment to date in the semiconductor industry and will establish Pyeongtaek as the company’s single largest operations site globally supporting the electronics industry. 

“Air Products is honored to be selected once again by Samsung and to have their continued confidence as a trusted partner supporting their strategic growth plans,” said SR Kim, President, Air Products Korea. “This significant investment reinforces Air Products’ role as a leading global supplier to the semiconductor industry and underscores our long-standing commitment to supporting our strategic customers with safety, reliability, efficiency and excellent service.”

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies. The company has operated in Korea for more than 50 years and has established a strong position in electronics and manufacturing sectors.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

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SOURCE Air Products

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