Market Forecast By Type (Agriculture, Construction, And Mining Machinery, Industrial Machinery, Commercial And Service Industry Machinery, Ventilation, Heating, Air-Conditioning, Commercial Refrigeration Equipment), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others, Others), By Nature (Organic, Conventional) And Competitive Landscape
Product Code: ETC433160 | Publication Date: Mar 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
India Machinery Market is growing steadily and is expected to continue its upward trend in the years to come. The market has been through several latest development in the past few years. For instance, the manufacturing sector in India has been growing steadily and the government's initiative has been instrumental in boosting manufacturing in the country. Moreover, the government has been investing heavily in infrastructure development, which has created a significant demand for construction and earthmoving equipment. The adoption of automation and digitalization in the manufacturing sector is increasing and, in turn, driving demand for advanced machinery.
The rapid pace of industrialization in India has led to an increase in demand for machinery across the agriculture, manufacturing, and healthcare sectors. With a growing population, the demand for food and healthcare products is increasing in India. India has a large export potential for machinery, particularly in the neighbouring countries of Southeast Asia and Africa. As a result, the growth of India Machinery Market size has increased and is expected to continue to do so in future years.
The India Machinery Market is projected to grow more in the near future. The market is primarily driven by the growing construction industry, followed by the manufacturing and mining sectors.
Construction machinery includes equipment such as excavators, loaders, dozers, graders, and compactors. The growth of this market is attributable to the government's initiatives such as Make in India, Smart Cities Mission, and Housing for All by 2022. These initiatives are expected to boost the demand for machinery in India.
Manufacturing machinery includes equipment such as machine tools, material handling equipment, packaging machinery, and textile machinery. Mining machinery includes equipment such as crushers, screeners, drills, and conveyors.
According to 6Wresearch, the India Machinery Market size is expected to grow during 2022-2028. The India Machinery Industry is the country's largest and most important manufacturing sector. It comprises a wide range of sub-sectors that include agricultural machinery, construction machinery, mining machinery, and textile machinery. The machinery industry in India has been growing at a rapid pace in recent years with the country's economy expanding and industrialization picking up pace. Construction equipment accounts for the largest share of the India Machinery Market, followed by agricultural equipment and mining equipment.
The imposed lockdown due to the sudden outbreak of the COVID-19 pandemic declined the evolution of the India Machinery Market. Sectors that are the biggest consumers of machinery in India were completely shut down. The shutdown of consumer industries impacted negatively the development of the Machinery Market in India. Industries such as construction and automobile were completely shut down, therefore, it impacted the growth of this market negatively. The market is now recovering from the negative impacts of the pandemic since consumer industries started working and progressing effectively.
On the basis of type, the market is segmented into Agriculture, Construction, Mining Machinery, Industrial Machinery, Commercial and Service Industry Machinery, Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment. Among these, the construction segment is dominating the market.
On the basis of distribution channels, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, and Others. These segments have been performing well in the market.
On the basis of nature, the market is segmented into Organic and Conventional. The organic segment is expected to grow more in the years to come.
The Machinery Market in India is highly competitive. There are a large number of manufacturers competing for market share. The competition is intense in terms of price, quality, and product offerings.
The leading manufacturers in the India Machinery Market are JCB India, Caterpillar India, BEML India, John Deere India, and Komatsu India. These companies have a strong brand presence in the market and offer a wide range of products.
JCB India is the market leader in the excavator segment. Caterpillar India is the second-largest player in the market. BEML India is the third-largest player. John Deere India and Komatsu India are the fourth- and fifth-largest players in the India Machinery Industry.
India Machinery Market which is a vital part of the Asia-Pacific Machinery Market is growing effectively. The country's construction sector is expected to remain the key driver of demand for construction equipment, due to the continued implementation of large-scale infrastructure projects.
The mining sector is also anticipated to provide significant growth opportunities for construction and mining equipment manufacturers in India, due to the ongoing reforms in the sector and the government's focus on boosting the production of minerals. In addition, growing demand from the food & beverage processing industry is expected to drive sales of packaging machinery in India over the forecast period.
The major factors driving the growth of the India machinery market include the growing demand from the construction and automotive industries, increased foreign investment, and government initiatives.
The construction industry is one of the major consumers of machinery in India. The sector is expected to grow at a rapid pace during the forecast period. This growth is attributed to the increasing urbanization and infrastructure development activities in the country. The automotive industry is also a major consumer of machinery in India.
The government initiatives such as 'Make in India' and 'Skill India' are expected to create a positive environment for foreign investors and promote domestic manufacturing. These initiatives are likely to result in an increased demand for machinery from various sectors such as construction, automotive, food & beverage, pharmaceuticals, etc.
The report offers a comprehensive study of the subsequent market segments:
1. What are the major growth factors for the market?
The major factors driving the growth of the machinery market include the growing demand from the construction and automotive industries, increased foreign investment, and government initiatives.
2. Who are the key players in India Machinery Industry?
The leading manufacturers in the India Machinery Market are JCB India, Caterpillar India, BEML India, John Deere India, and Komatsu India.
3. Will the Machinery Market in India grow more?
Yes, the market is expected to grow more in the near future.
4. Does the report cover COVID-19 impact?
Yes, the report covers the impacts of the pandemic on the market.
1. Executive Summary |
2. Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope and Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. India Machinery Market Overview |
3.1 India Machinery Market Revenues (2018-2028F) |
3.2 India Machinery Market Industry Life Cycle |
3.3 India Machinery Market Porter’s Five Forces Model |
3.4 India Machinery Market Revenue Share, By Type (2021 & 2028F) |
3.5 India Machinery Market Revenue Share, By Distribution Channel (2021 & 2028F) |
3.6 India Machinery Market Revenue Share, By Nature(2021 & 2028F) |
4. Impact Analysis of COVID-19 on the India Machinery Market |
5. India Machinery Market Dynamics |
5.1 Impact Analysis |
5.2 Market Drivers |
5.3 Market Restraints |
6. India Machinery Market Trends & Evolution |
7. India Machinery Market Overview, By Type |
7.1 India Machinery Market Revenues, By Agriculture (2021-2028F) |
7.2 India Machinery Market Revenues, By Cosntruction (2021-2028F) |
7.3 India Machinery Market Revenues, By Mining Machinery (2021-2028F) |
7.4 India Machinery Market Revenues, By Industrial Machinery (2021-2028F) |
7.5 India Machinery Market Revenues, By Commercial and Service Industry Machinery (2021-2028F) |
7.6 India Machinery Market Revenues, By Ventilation (2021-2028F) |
7.7 India Machinery Market Revenues, By Heating (2021-2028F) |
7.8 india Machinery Market Revenues, By Air-Conditioning (2021-2028F) |
7.9 India Machinery Market Revenues, By Commercial Refrigeration Equipment (2021-2028F) |
8. India Machinery Market Overview, By Distribution Channe; |
8.1 India Machinery Market Revenues, By Supermarkets/Hypermarkets (2021-2028F) |
8.2 India Machinery Market Revenues, By Convenience Stores (2021-2028F) |
8.3 India Machinery Market Revenues, By E-Commerce (2021-2028F) |
8.4 India Machinery Market Revenues, By Others (2021-2028F) |
9. India Machinery Market Overview, By Nature |
9.1 India Machinery Market Revenues, By Organic (2021-2028F) |
9.2 India Machinery Market Revenues, By Conventional (2021-2028F) |
10. India Machinery Market - Key Performance Indicators |
11. India Machinery Market - Opportunity Assessment |
11.1 India Machinery Market Opportunity Assessment, By Type (2028F) |
11.2 India Machinery Market Opportunity Assessment, By Distribution Channel (2028F) |
11.3 India Machinery Market Opportunity Assessment, By Nature (2029F) |
12. India Machinery Market - Price Trend Analysis |
13. India Machinery Market Competitive Landscape |
13.1 India Machinery Market Revenue Ranking, By Companies (2021) |
13.2 India Machinery Market Competitive Benchmarking, By Operating Parameters |
14. Key Strategic Recommendations |
15. Disclaimer |