Connect with us

Technology

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

Published

on

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.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

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. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

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.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

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.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/indias-machine-tool-market-to-grow-by-usd-2-78-billion-2024-2028-with-ai-driven-insights-on-rising-industrial-automation-boosting-revenue—technavio-302267145.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

NorthX invests $3 million in breakthrough decarbonization solutions

Published

on

By

Funding to accelerate industrial emissions reductions, scale clean technologies, and strengthen low carbon supply chains

VANCOUVER, BC, April 29, 2026 /CNW/ – NorthX Climate Tech (NorthX) today announced $3 million in non-dilutive investments in four companies developing breakthrough technologies to decarbonize some of BC’s highest-emitting industrial sectors. The funding will support ShiftX Technologies, Kinitics Automation, CURA, and Hydron Energy–accelerating pilot deployments, de-risking early-stage technologies, and advancing pathways to commercial scale across energy, heavy industry, and resource-based systems.

“Clean technology innovation is essential to strengthening Canada’s industrial and climate competitiveness,” said the Honourable Tim Hodgson, Minister of Energy and Natural Resources. “Projects like these are made-in-Canada solutions to improve efficiency, build stronger supply chains, and create good jobs, while positioning Canada as a clean energy superpower and the strongest economy in the G7.”

BC’s industrial sectors represent some of the province’s largest emissions sources and some of its greatest opportunities for economic and climate impact.

“Reducing emissions and building a thriving economy are not mutually exclusive – by driving industrial decarbonization, you can have it both ways,” said Adrian Dix, Minister of Energy and Climate Solutions. “By funding cutting-edge companies like ShiftX Technologies, Kinitics Automation, CURA, and Hydron Energy, NorthX is not only supporting our government’s methane emission reduction and industrial decarbonization goals but is also making BC more competitive on the world stage.”

NorthX is pleased to support the following companies, each addressing a distinct piece of the decarbonization puzzle:

ShiftX Technologies is developing a cleaner, more compact hydrogen production system that operates at lower temperatures and costs than conventional methods, making it well suited for industrial and marine fuel applications. Its sorbent-based reactor technology is designed to scale, and NorthX is backing a first-of-its-kind pilot to accelerate its path to commercialization.Kinitics Automation is commercializing a zero-emission, drop-in replacement for the methane-venting pneumatic devices widely used in natural gas operations. Its non-venting electric actuator eliminates methane leaks at the source while improving efficiency, reliability, and reducing maintenance demands. The market opportunity is substantial as more than 261,000 of these devices across Canada must be replaced by 2030.CURA is producing zero-carbon lime at commodity-competitive prices through an electrochemical process that captures pure CO₂ for permanent storage. The technology is designed to retrofit directly into existing cement and lime plants, requiring no new supply chains or changes to existing processes, lowering the bar for industry-wide adoption. CURA’s pilot project is progressing toward commercial-scale production, targeting one of the most emissions-intensive sectors in the industrial economy.Hydron Energy is expanding its RNG-based platform into direct air capture, enabling carbon-negative CO₂ removal while recovering rare gases critical to satellite propulsion and other high-value applications. By extracting these gases at ambient conditions, rather than through energy-intensive cryogenic distillation, Hydron delivers a lower-cost, lower-emissions alternative that also reduces Canada’s dependence on geopolitically vulnerable supply chains.

Driving industrial competitiveness through decarbonization

As global demand for low carbon products accelerates, industrial decarbonization is becoming essential to maintaining access to capital, customers, and international markets. Clean technology adoption can also improve operational performance, including enhanced efficiency, reduced fuel consumption, lower waste, and streamlined production processes.

Together, these investments reflect NorthX’s commitment to scaling Canadian climate innovation and accelerating the deployment of practical, high-impact decarbonization solutions across industry.

“Industrial decarbonization is one of the most important and complex opportunities in the global energy transition and we believe BC is uniquely positioned to lead,” said Sarah Goodman, CEO of NorthX. “These companies are developing the kinds of hard tech solutions that can transform how major industries operate, reducing emissions while strengthening economic growth and long-term climate competitiveness.”

Impact at a glance:

$57.6 million in non-dilutive funding deployed$301M million project value supported89 projects supported874 jobs created$621 million in follow-on funding catalyzed

About NorthX:
Founded in 2021 with an initial investment from the BC Government, the Government of Canada, through Natural Resources Canada’s Energy Innovation Program, and Shell Canada, NorthX Climate Tech (NorthX) is a catalyst for climate action, funding the climate hard tech solutions that transform industries and build lasting prosperity.

Rooted in British Columbia but global in vision, we unite visionaries, investors, industry, government, and partners to scale technologies that drive deep decarbonization and economic growth for Canada. Like the “X” on a map, we pinpoint that pivotal moment when potential is immense, but capital is scarce, that place where local strengths become global solutions.

SOURCE NorthX Climate Tech

Continue Reading

Technology

MEDIA ADVISORY: StarlingX, Infrastructure of Choice for Distributed Cloud and World’s Largest Telecommunications Providers, Available in Version 12.0 Today

Published

on

By

Version 12.0 of StarlingX is here. StarlingX is an open source cloud infrastructure software stack that makes it simple to deploy, distribute and manage both distributed (edge) applications and centralized cloud.

AUSTIN, Texas, April 29, 2026 /PRNewswire/ —

What: An OpenInfra Foundation project, StarlingX combines the strengths of successful open source cloud technologies—including OpenStack, Kubernetes, Ceph, and QEMU/KVM—and reconfigures them into a platform for distributed applications of all kinds, accounting for geographic dispersion, low-overhead communication, and the need to manage very large hardware deployments.

Who: StarlingX is widely used in production among large telecom operators around the globe, such as T-Systems, Verizon, Vodafone, KDDI and others. Hardened and stress-tested by telecoms, StarlingX is now a highly performant distributed cloud architecture ideal for demanding use cases such as railway systems, autonomous driving platforms, aerospace communication and flight systems, drones, critical energy infrastructure, industrial automation and more.

Why: The StarlingX platform has been extensively hardened in production environments for years. With each new release, the open source community continues to refine its capabilities, security and operational efficiency to meet evolving industry demands. Learn more about the enhancements in StarlingX 12.0: https://www.starlingx.io/blog/starlingx-release-12/

“StarlingX continues to advance cloud technologies for mission-critical industries. As an ongoing supporter of the project and original contributor to the code base, we are encouraged by its growing commercial adoption within the ecosystem. We look forward to further supporting this momentum with our ongoing collaboration and by delivering expertise with our commercial distribution of StarlingX in Wind River Cloud Platform.” — Paul Miller, CTO, Intelligent Systems, Software and Services, Aptiv

“StarlingX 12.0 represents a significant leap forward in edge scalability and operational efficiency. By refining our core architecture and expanding our support for diverse hardware profiles, we are ensuring that the community has the tools necessary to meet the evolving demands of the next generation of edge infrastructure. It’s a proud day for the project and everyone involved in this milestone.” — Shuquan Huang, StarlingX Technical Steering Committee member

“We are thrilled to witness another StarlingX release and all the results delivered by this amazing community. StarlingX 12.0 brings important new features for authentication and security, OS and Kubernetes updates and OpenStack support to the new version (OpenStack 2025.1 – Epoxy) and new external storage options. The community engagement and the ecosystem are shining and bringing accelerated results. Encora is excited to continue supporting the expansion of StarlingX.” — Thales Elero Cervi, Encora, StarlingX OpenStack project lead, StarlingX Technical Steering Committee member

Where: Download StarlingX 12.0 at https://opendev.org/starlingx

Learn More:

Release blog post: https://www.starlingx.io/blog/starlingx-release-12/Release notes: https://docs.starlingx.io/releasenotes/index.html#release-notesProject documentation: https://docs.starlingx.io/Website: https://www.starlingx.io/

About the OpenInfra Foundation

The OpenInfra Foundation builds communities who write open source infrastructure software that runs in production. With the support of over 110,000 individuals in 187 countries, the OpenInfra Foundation hosts open source projects and communities of practice, including infrastructure for AI, container-native apps, edge computing and datacenter clouds. The OpenInfra Foundation is part of the nonprofit Linux Foundation. Join the OpenInfra movement: www.openinfra.org

Contact: 

Robert Cathey
Cathey Communications for the OpenInfra Foundation
robert@cathey.co 

Allison Price
OpenInfra Foundation
allison@openinfra.org 

View original content to download multimedia:https://www.prnewswire.com/news-releases/media-advisory-starlingx-infrastructure-of-choice-for-distributed-cloud-and-worlds-largest-telecommunications-providers-available-in-version-12-0-today-302756934.html

SOURCE OpenInfra Foundation

Continue Reading

Technology

Youth for Neurodiversity Inc. (YND) Unveils Ally App at CA School Health Conf. Apr 27-28, 2026

Published

on

By

Founded by Aashna Parsa, youth-led YND’s innovative gamified Ally in Training™ app, supported by 26 student leaders across nine states, fosters vital neurodiversity allyship and self-advocacy skills.

LOS ANGELES, April 29, 2026 /PRNewswire/ — Youth for Neurodiversity Inc. (YND), a youth-led nonprofit, is showcasing its gamified app Ally in Training™ through an interactive youth-led exhibit at the California School Health & Behavioral Health Conference (April 27–28 at the Hilton Los Angeles/Universal City).

Aashna Parsa & team embody the future of authentic, youth-led advocacy with unique perspectives sparking breakthroughs.

The exhibit highlights allyship, strengths-based understanding of neurodiversity, and student mental health, featuring live demos of Ally in Training™ alongside CalHOPE’s youth mental health app Soluna.

Founded by Aashna Parsa, a rising high school student at Stanford Online High School and incoming freshman at The Harker School, YND brings together neurodivergent and neurotypical youth to promote inclusive learning, peer connection, and strengths-based understanding.

Based in San Jose, Parsa’s inspiration to take action emerged from her personal journey navigating neurodiversity within her family and close community, alongside adapting to physical challenges following an injury last summer. She further drew motivation from the 2025 Stanford Neurodiversity Summit and Vanderbilt University’s Neurotech Frontiers conference organized by the Janus Innovation Hub and the Frist Center for Autism & Innovation. Moreover, she developed and submitted a written research input to the United Nations Office of the High Commissioner for Human Rights’ 2026 youth mental health, facilitated by a worldwide consultation of youth leaders and changemakers supported by the United Nations Youth Office.

“Growing up around neurodiversity and navigating my own challenges showed me how isolating differences can feel,” said Parsa. “Rooted in the principle “Nothing About Us Without Us,” I built Ally in Training™ to make learning allyship feel like play. Our participation in this significant conference allows Youth for Neurodiversity Inc. to connect directly with the educators and health professionals who are instrumental in shaping supportive environments for neurodivergent youth. We believe our unique youth-led approach and the innovative Ally in Training™ app are powerful tools for fostering peer connection and driving our mission forward.”

YND is growing rapidly with 26 student leaders and members across nine U.S. states and Africa, with strong representation across California, including Los Altos, San Jose, Saratoga, Palo Alto, Redwood City, Los Altos, San Mateo, and Morgan Hill.

At the conference, Parsa is joined by fellow student leaders Annie Liu and Jisoo Hur from Los Altos High School, and Unaysah Ron and Omar Ron from Ocean Grove Charter, to demonstrate the app and engage with educators and health professionals.

YND is a community member of the United Nations Youth Office’s flagship initiative on Youth Mental Health and Wellbeing and a proud partner of the California School-Based Health Alliance. The organization is also a community member of Office of Community Partnerships and Strategic Communications under Gavin Newsom, reflecting its engagement within California’s youth health and education ecosystem.

YND student leaders also participated in advocacy efforts on April 15, 2026 in Sacramento, supporting California Assembly Bills 2071 (Digital Wellness) and 1669 (Student Mental Health) with co-sponsor of the bills GENup, a California-based nationwide student-led organization dedicated to transforming education policy by amplifying youth voices.

Maxwell Palance, mentor to Aashna Parsa and Co-Chair of the Stanford Network for K-12 Neurodiversity Education & Advocacy (NNEA), 2026 Davos Neurodiversity Summit Leadership Wall Honoree, and NASA Neurodiversity N3 Network Research Intern and Scholar, said:

“Aashna Parsa and the Youth for Neurodiversity team embody the future of authentic, youth-led neurodiversity advocacy. Neurodiverse minds bring unique perspectives and ways of thinking that challenge assumptions and spark breakthroughs. By creating spaces where different ways of thinking are supported, we expand what’s possible for everyone. Their gamified Ally in Training™ app is an innovative tool designed to bring neurodivergent and neurotypical teens together to build allyship and self-advocacy skills. I’m excited to see them sharing this work at the California School Health & Behavioral Health Conference.”

About Youth for Neurodiversity Inc.

Youth for Neurodiversity Inc. is a California-based, international youth-led 501(c)(3) nonprofit that breaks barriers for neurodivergent and differently-abled youth by celebrating differences, championing strengths, and mobilizing allies. The organization brings together neurodivergent and neurotypical teens worldwide to build connections, reduce stigma, and promote universal design, assistive technology, sensory-friendly spaces, and youth-centered policy. Learn more at youthfornd.org.

Website: youthfornd.org Instagram: @youthfornd

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/youth-for-neurodiversity-inc-ynd-unveils-ally-app-at-ca-school-health-conf-apr-27-28-2026-302756689.html

SOURCE Youth for Neurodiversity Inc.

Continue Reading

Trending