The Manufacturing Market in India Report is Segmented by Ownership (Public Sector, Private Sector, Joint Sector, and Cooperative Sector), Raw Materials Used (Agro-Based Industries and Mineral-Based Industries), and End-User Industry (Automotive, Manufacturing, Textile and Apparel, Consumer Electronics, Construction, Food and Beverages, and Other End-User Industries). The Report Offers Market Sizes and Forecasts in Value Terms (USD) for all the Above Segments.

The India Manufacturing Sector Market offers a diverse range of products, including automobiles, machinery, electronics, and pharmaceuticals. The automotive industry is one of the largest segments, driven by factors such as increasing urbanization, rising disposable income, and government initiatives to promote domestic manufacturing. The machinery segment is also experiencing growth, supported by the expanding manufacturing base and the need for automation. The electronics industry is witnessing significant demand due to the growing adoption of consumer electronics and the proliferation of the digital economy. The pharmaceutical industry is driven by factors such as increasing healthcare expenditure and the rise of chronic diseases. Recent developments include: January 2023: Sundram Fasteners, an auto component manufacturer, secured its largest-ever EV contract in its six-decade history. The Chennai-based company clinched a USD 250 million deal from a prominent global automobile manufacturer to supply sub-assemblies for its electric vehicle (EV) platform. Sundram Fasteners anticipates reaching an annual sales peak of USD 52 million by 2026, with a supply of 1.5 million drive unit sub-assemblies per annum., January 2023: Tata Motors, a multinational automotive manufacturing company based in India, disclosed plans to potentially establish plants in India and Europe for manufacturing battery cells dedicated to electric vehicles (EVs). The Chief Financial Officer of Tata Motors' auto unit revealed this information in an interview with Reuters. Tata Motors, which has sold a total of 50,000 electric cars thus far, dominates India's EV market and aims to introduce 10 electric models by March 2026.. Key drivers for this market are: Increasing demand for products in sectors like automotive, consumer electronics, and pharmaceuticals, both domestically and internationally, is fueling the expansion of manufacturing activities in India. Potential restraints include: Inadequate infrastructure, including poor transportation networks, inconsistent power supply, and inefficient logistics, which raise operational costs and hinder the smooth functioning of industries. Notable trends are: Growing government spending and the large and growing population, coupled with a rising middle class, are driving the market growth.

The manufacturing industry in India has emerged as a fast-growing sector owing to the rapidly increasing population in the country. Investments in the sector have been on the rise and initiatives like ‘Make in India’ aim to the South Asian country into a global manufacturing hub. The annual production growth rate in the manufacturing industry was 4.7 percent percent during fiscal year 2023.

Foreign and domestic enterprises

The gross value added by the manufacturing sector in India has grown steadily however it is still lower than services sector. With the prospect of a huge consumer market, global giants such as Siemens, HTC, Toshiba have already set-up or are in the process of setting up manufacturing plants across the region. Apple has also been setting up nascent operations in India to diversify from China-centered production. On the other hand, the micro, small and medium enterprises sector is also crucial to transforming India from an agriculture-based economy to an industrialized one. MSME's contribution to Indian GDP has remained stable over the last few years.

The future

With technology reaching what previously were unimaginable heights in the last decade, industries need to keep up with the current trends and the technology. The focus is shifting towards machine learning to improve the efficiency and precision of the work. Almost 50 percent of the decision-makers in the machine learning industry believed that machine learning solutions have a high impact on organizations. ‘Smart manufacturing’, a combination of internet of things and artificial intelligence are expected to see a growth in the coming decade.

The smart manufacturing market is experiencing robust growth, projected to reach $24.83 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 16.83% from 2025 to 2033. This expansion is driven by the increasing adoption of Industry 4.0 technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML), across various industrial sectors. These technologies enable enhanced automation, improved efficiency, optimized production processes, and real-time data-driven decision-making, leading to significant cost reductions and increased productivity. The process industry, a major segment, benefits significantly from predictive maintenance capabilities offered by smart manufacturing solutions, reducing downtime and improving operational reliability. Furthermore, the rising demand for advanced human-machine interfaces (HMIs) and manufacturing execution systems (MES) is fueling market growth. North America and Europe currently hold substantial market shares, driven by early adoption of advanced technologies and established manufacturing bases. However, the Asia-Pacific region, particularly China and India, is witnessing rapid growth, fueled by industrialization and government initiatives promoting digital transformation. Several factors restrain market expansion, including high initial investment costs associated with implementing smart manufacturing solutions, cybersecurity concerns related to interconnected systems, and the need for skilled workforce training to effectively manage and maintain these complex technologies. However, the long-term benefits of improved efficiency, reduced operational costs, and enhanced product quality outweigh these challenges. The market is highly competitive, with major players like ABB, Siemens, Rockwell Automation, and others vying for market share through strategic partnerships, acquisitions, and continuous innovation. Future growth will be significantly influenced by the ongoing advancements in AI, cloud computing, and edge computing technologies, allowing for even greater levels of automation, data analysis, and predictive capabilities within the manufacturing sector. The continued integration of these technologies across various industry segments will be pivotal in driving the sustained growth of the smart manufacturing market over the coming decade.

The manufacturing execution system (MES) industry in India is estimated to be valued at USD 1,189.3 million in 2024. From 2024 to 2034, sales of manufacturing execution systems solutions in India are expected to witness a CAGR of 9.5% and total industry size of USD 2,930.3 million by 2034-end.

Zone-wise Insights

Category-wise Insights

In 2023, India's manufacturing sector's GDP share was around 13 percent. The share remained the same as compared to the last year and declined from 17 percent in 2010. Value added is the net output of the manufacturing sector after adding all outputs and subtracting intermediate inputs. The manufacturing sector employs over 27 million workers. Boosting manufacturing As global economies aim to reduce reliance on China or adopt a China-plus strategy, India has emerged as a potent alternative manufacturing hub. The Make in India initiative was launched to foster and strengthen India’s global manufacturing status by enhancing foreign direct investments, skill development, and updating manufacturing infrastructure. Under the Production Linked Incentive (PLI) Scheme, companies are incentivized to promote domestic production and enhance manufacturing competitiveness. Despite efforts, experts expressed doubts about the government’s ambition to raise the share of manufacturing to GDP to 25 percent by 2025.
Hurdles for manufacturing As per the World Bank, India’s share in global trade has not kept pace with its rapidly growing economy. It is losing ground to countries like Bangladesh and Vietnam in key low-cost and low-skill manufacturing export sectors. Manufacturing productivity in India has remained low. and the availability of capital also remains an obstacle for the manufacturing sector. Inadequate investments in technology, infrastructure, and research and development (R&D) can also impact productivity growth. Other factors include regulatory compliance burdens, complex labor laws, red tape, and inefficient supply chains.

A survey conducted among manufacturing companies in the fourth quarter of 2020 showed that 35 percent implemented data analytics skills training among their employees. In the Industry 4.0 era, data analytics would be a key skill for more sustainable manufacturing process, especially concerning artificial intelligence, machine learning, IoT and automation.

Abstract

Introduction

The Annual Survey of Industries (ASI) is one of the large-scale sample survey conducted by Field Operation Division of National Sample Survey Office for more than three decades with the objective of collecting comprehensive information related to registered factories on annual basis. ASI is the primary source of data for facilitating systematic study of the structure of industries, analysis of various factors influencing industries in the country and creating a database for formulation of industrial policy.

The main objectives of the Annual Survey of Industries are briefly as follows:

(a) Estimation of the contribution of manufacturing industries as a whole and of each unit to national income.

(b) Systematic study of the structure of industry as a whole and of each type of industry and each unit.

(c) Casual analysis of the various factors influencing industry in the country: and

(d) Provision of comprehensive, factual and systematic basis for the formulation of policy.

The Annual Survey of Industries (ASI) is the principal source of industrial statistics in India. It provides statistical information to assess changes in the growth, composition and structure of organised manufacturing sector comprising activities related to manufacturing processes, repair services, gas and water supply and cold storage. The Survey is conducted annually under the statutory provisions of the Collection of Statistics Act 1953, and the Rules framed there-under in 1959, except in the State of Jammu & Kashmir where it is conducted under the State Collection of Statistics Act, 1961 and the rules framed there-under in 1964.

Geographic coverage

The ASI is the principal source of industrial statistics in India and extends to the entire country except Arunachal Pradesh, Mizoram & Sikkim and the Union Territory of Lakshadweep. It covers all factories registered under Sections 2m(i) and 2m(ii) of the Factories Act, 1948.

Analysis unit

The primary unit of enumeration in the survey is a factory in the case of manufacturing industries, a workshop in the case of repair services, an undertaking or a licensee in the case of electricity, gas & water supply undertakings and an establishment in the case of bidi & cigar industries. The owner of two or more establishments located in the same State and pertaining to the same industry group and belonging to census scheme is, however, permitted to furnish a single consolidated return. Such consolidated returns are common feature in the case of bidi and cigar establishments, electricity and certain public sector undertakings.

Universe

The survey cover factories registered under the Factory Act 1948.

Establishments under the control of the Defence Ministry,oil storage and distribution units, restaurants and cafes and technical training institutions not producing anything for sale or exchange were kept outside the coverage of the ASI.

Kind of data

Sample survey data [ssd]

Sampling procedure

Sampling Procedure

The sampling design followed in ASI 1998-99 is a Circular Systematic one. All the factories in the updated frame (universe) are divided into two sectors, viz., Census and Sample.

Census Sector: Census Sector is defined as follows:

a) All the complete enumeration States namely, Manipur, Meghalaya, Nagaland, Tripura and Andaman & Nicobar Islands. b) For the rest of the States/ UT's., (i) units having 200 or more workers, and (ii) all factories covered under Joint Returns.

Rest of the factories found in the frame constituted Sample sector on which sampling was done. Factories under Biri & Cigar sector were not considered uniformly under census sector. Factories under this sector were treated for inclusion in census sector as per definition above (i.e., more than 200 workers and/or joint returns). After identifying Census sector factories, rest of the factories were arranged in ascending order of States, NIC-98 (4 digit), number of workers and district and properly numbered. The Sampling was taken within each stratum (State X Sector X 4-digit NIC) with a minimum of 8 samples in each stratum in the form of 2 sub-samples. For the first time, all electricity undertakings other than captive units, Government Departmental undertakings such as Railway Workshops, P & T workshops etc. were kept out of coverage of ASI.

Sampling deviation

There was no deviation from sample design in ASI 1998-99.

Mode of data collection

Face-to-face [f2f]

Cleaning operations

Pre-data entry scrutiny was carried out on the schedules for inter and intra block consistency checks. Such editing was mostly manual, although some editing was automatic. But, for major inconsistencies, the schedules were referred back to NSSO (FOD) for clarifications/modifications.

The final unit level data of ASI 98-99 is available now in electronic media. This document describes additional information regarding ASI 98-99 data from the point of data processing. Users of ASI 98-99 data are requested to read this document carefully before they attempt to process the unit level data for their own purpose. They are also requested to refer to the schedule and the instruction manual for filling up the schedule before interpreting contents of various data fields. A. Contents The CD (or any other media) should contain the following files: ASI99.TXT This file contains unit level detail data of ASI 98-99 as per structure given in ANNEXURE- Total no. of records: 104740 XASI98.TXT (Metadata created from this .TXT file) This file contains unit level detail data of ASI 97-98 for those factories which were found not responding during the survey of ASI 98-99. The record layout is already available with the Computer Centre, New Delhi. Record Length: 135 Total no. of records: 6974 README.DOC This file.

B. Tabulation procedure The tabulation procedure by CSO(ISW) includes both the ASI 98-99 data and the extracted data from ASI 97-98 for all tabulation purpose. To make results comparable, users are requested to follow the same procedure. For calculation of various parameters, users are requested to refer instruction manual/report for the respective years. Please note that a separate inflation factor (Multiplier) is available for each factory against records belonging to Block-A ,pos:38-46 (Please refer ANNEXURE-I) for ASI 98-99 data. Since the data extracted from ASI 97-98 belong to Census Sector no such inflation (Multiplier) factor is required. Industry code as per Return(5-digit level of NIC-98) Industry code as reported by the factories in Block-A, Item 1 has been further codified because of the following two policies practiced at CSO(ISW). Tabulation policy: As per the latest tabulation policy, it has been decided to publish detail information regarding factories belonging to 01 to 37 of industry codes( 2-digit, NIC-98). Factories belonging to other industry groups would be clubbed together and to be published under 'Others'. Accordingly all industry codes other than 01 to 37 were replaced with a 5-digited code 'YYYYY'. Merging and suppression of identity: To suppress the identity of factories, less frequent industry codes were modified accordingly. Example: if a reported industry code is found as 2930Z, this is to be treated as 'other merged industry code under industry group 2930 (4-digit NIC'98)'. Similarly if the reported industry code is found as 293ZZ, the same as to be treated as 'other merged industry code under industry group 293 (3-digit NIC'98)' and so on.

FIXED ASSETS (Block-C) Columnwise relationship (please refer schedule) may not hold true for data in this block. This is because of the lack of information available from the factory owners. E. EMPLOYMENT AND LABOUR COST (Block-E) It has been found that a larger number of factory owners were unable to provide detailed break-up of information regarding provident fund (Block-E, Col.7). Instead they provide total provident fund as a whole for all employees (Block-E, Srl. No. 7, Col.7). Users are requested to use Srl.9, Col.7 for information on provident fund. The total of srl.6 to 8 for Col.7 may not tally with srl.9, col.7. F. ASICC codes in Block H, I & J Because of the proximity of various item's description, it is possible that same ASICC code may appear against multiple records in these blocks. They should not be treated as duplicates. They are clubbed together at the time of tabulation to provide information at ASICC level. G. Record Identification Key Record identification key for each factory is Despatch Serial No. (DSL, pos: 4-8) X Block code (Blk, pos: 3). Please refer ANNEXURE-I for item level identification key for each factory.

Sampling error estimates

Relative Standard Error (RSE) is calculated in terms of worker, wages to worker and GVA using the formula (Pl ease refer to Estimation Procedure document in external resources). Programs developed in Visual Faxpro are used to compute the RSE of estimates.

Data appraisal

To check for consistency and reliability of data the same are compared with the NIC-2digit level growth rate at all India Index of Production (IIP) and the growth rates obtained from the National Accounts Statistics at current and constant prices for the registered manufacturing sector.

Abstract

The Annual Survey of Industries (ASI) is the principal source of industrial statistics in India. It provides statistical information to assess changes in the growth, composition and structure of organised manufacturing sector comprising activities related to manufacturing processes, repair services, gas and water supply and cold storage. Industrial sector occupies an important position in the State economy and has a pivotal role to play in the rapid and balanced economic development. The Survey is conducted annually under the statutory provisions of the Collection of Statistics Act 1953, and the Rules framed there-under in 1959, except in the State of Jammu & Kashmir where it is conducted under the State Collection of Statistics Act, 1961 and the rules framed there-under in 1964.

Geographic coverage

Coverage of the Annual Survey of Industries extends to the entire Factory Sector, comprising industrial units (called factories) registered under section 2(m)(i) and 2(m)(ii) of the Factories Act.1948, wherein a "Factory", which is the primary statistical unit of enumeration for the ASI is defined as:-"Any premises" including the precincts thereof:- (i) wherein ten or more workers are working or were working on any day of the preceding twelve months, and in any part of which a manufacturing process is being carried on with the aid of power or is ordinarily so carried on, or (ii) wherein twenty or more workers are working or were working on any day of the preceding twelve months, and in any part of which a manufacturing process is being carried on without the aid of power. In addition to section 2(m)(i) & 2(m)(ii) of the Factories Act, 1948, electricity units registered with the Central Electricity Authority and Bidi & Cigar units, registered under the Bidi & Cigar Workers (Conditions of Employment) Act,1966 are also covered in ASI.

Analysis unit

The primary unit of enumeration in the survey is a factory in the case of manufacturing industries, a workshop in the case of repair services, an undertaking or a licensee in the case of electricity, gas & water supply undertakings and an establishment in the case of bidi & cigar industries. The owner of two or more establishments located in the same State and pertaining to the same industry group and belonging to same scheme (census or sample) is, however, permitted to furnish a single consolidated return. Such consolidated returns are common feature in the case of bidi and cigar establishments, electricity and certain public sector undertakings.

Universe

The survey cover factories registered under the Factory Act 1948. Establishments under the control of the Defence Ministry,oil storage and distribution units, restaurants and cafes and technical training institutions not producing anything for sale or exchange were kept outside the coverage of the ASI.

Kind of data

Sample survey data [ssd]

Sampling procedure

The sampling design followed in ASI 1984-85 is a circular systematic one. All the factories in the updated frame (universe) are divided into two sectors, viz., Census and Sample.

a) CENSUS : To keep pace with the enormous growth of the factory sector, definition of the census sector was changed from ASI 1987-88 to the units having 100 or more workers irrespective of their operation with or without power and all electrical undertakings. All industrial units belonging to the 12 less industrially developed states/ UT's like Goa, Himachal Pradesh, J & K, Chandigarh, Manipur, Meghalaya, Nagaland, Tripura, Daman & diu, Pondicherry Dadra & Nagar Haveli, and Andaman & Nicobar Islands etc.

b) The rest of of the universe was covered on sampling design adopting State X 3 digit industry group as stratum so as to cover all the units in a span of three years. In any stratum, if the number of units was less than 20, then the entire stratum was enumearted completely along with census factories. In any stratum if no. of unit is between 21 & 60, a minimum sample of size 20 was selected by Circular Systematic Sampling. For all other units a uniform sampling fraction of 1/3 was adopted.

*****Multiplier : How to apply the Multiplier :

      (i)  If Scheme Code = 1 then  Multiplier = 1
          If Scheme Code = 2 then  Multiplier = 2

(ii) During Processing/Tabulating apply the multiplier to each characteristics.

Sampling deviation

There was no deviation from sample design in ASI 1984-95

Mode of data collection

Face-to-face [f2f]

Research instrument

Annual Survey of Industries Questionnaire (in External Resources) is divided into different blocks:

BLOCK1/2/16 : RECORD TYPE 011 : IDENTIFICATION PARTICULARS (Filled by CSO and Industrial Units) BLOCK 4 : RECORD TYPE 011 : SCHEDULE OF FIXED ASSETS BLOCK 4A : RECORD TYPE 011 : EMPLOYMENT AND LABOUR COST BLOCK 5 : RECORD TYPE 011 : SCHEDULE OF WORKING CAPITAL AND LOANS
BLOCK 6 : RECORD TYPE 011 : WORKING DAYS AND SHIFTS BLOCK 7 : RECORD TYPE 011 : EMPLOYMENT BLOCK 8 : RECORD TYPE 011 : LABOUR COST (INCLUDING FOR CONTRACT LABOUR) BLOCK 9 : RECORD TYPE 011 : FUELS, ELECTRICITY AND WATER CONSUMED (EXCLUDING INTERMEDIATE PRODUCTS) BLOCK 10 : RECORD TYPE 011 : OTHER EXPENDITURE BLOCK 11 : RECORD TYPE 011 : OTHER OUTPUT/RECEIPTS BLOCK 12 : RECORD TYPE 011 : ELECTRICITY BLOCK 13 : RECORD TYPE 011 : MATERIALS CONSUMED BLOCK 13 A : RECORD TYPE 011 : INPUT ITEMS (indigenous items consumed) BLOCK 13 B : RECORD TYPE 011 : INPUT ITEMS – directly imported items only (consumed) BLOCK 14 : RECORD TYPE 011 : PRODUCTS AND BY-PRODUCTS (manufactured by the unit) BLOCK 14 A : RECORD TYPE 011 : DISTRIBUTIVE EXPENSES

Cleaning operations

Pre-data entry scrutiny was carried out on the schedules for inter and intra block consistency checks. Such editing was mostly manual, although some editing was automatic. But, for major inconsistencies, the schedules were referred back to NSSO (FOD) for clarifications/modifications.

Code list, State code list, Tabulation program and ASICC code are also may be refered in the External Resources which are used for editing and data processing as well..

Sampling error estimates

Relative Standard Error (RSE) is calculated in terms of worker, wages to worker and GVA using the formula. Programs developed in Visual Foxpro are used to compute the RSE of estimates.

Data appraisal

To check for consistency and reliability of data the same are compared with the NIC-2digit level growth rate at all India Index of Production (IIP) and the growth rates obtained from the National Accounts Statistics at current and constant prices for the registered manufacturing sector.

The India Electric Vehicle Battery Manufacturing Market Report is Segmented by Battery Type (Lead-Acid, Lithium-Ion, Solid State, Nickel Metal Hydride, and Others), Battery Form (Prismatic, Pouch, Cylindrical), Vehicle (Passenger Cars, Commercial Vehicles, Others), Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle). The Report Offers the Market Size and Forecasts for the India Electric Vehicle Battery Manufacturing Market in Revenue (USD) for all the Above Segments.

India predictive maintenance market size reached USD 463.5 Million in ​2024​. Looking forward, IMARC Group expects the market to reach USD 2,837.2 Million by ​2033​, exhibiting a growth rate (CAGR) of 20.4% during 2025-2033. The increasing availability of big data analytics tools, which allows organizations to process and analyze large amounts of data generated by sensors and equipment, is driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, technique, deployment type, organization size, and industry vertical.

Snapshot img

Additive Manufacturing Market Size 2025-2029

The additive manufacturing market size is forecast to increase by USD 46.76 billion at a CAGR of 23.9% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the high demand In the medical device sector for customized implants and prosthetics. This trend is further fueled by the increasing consumer interest in personalized, 3D-printed products across various industries. However, the market growth is not without challenges. Moreover, the precision and customization offered by additive manufacturing make it an ideal solution for producing dental implants and other medical devices. The high initial cost of setting up additive manufacturing facilities remains a significant barrier to entry for many companies. Despite this, the long-term benefits, including reduced material waste, faster prototyping, and increased design freedom, make it an attractive investment for those seeking to innovate and stay competitive. Companies looking to capitalize on the opportunities in this market should focus on cost reduction strategies, collaborations, and partnerships to overcome the initial investment hurdle. By navigating these challenges effectively, they can reap the rewards of this dynamic and innovative industry.

What will be the Size of the Market during the forecast period?

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The market, also known as 3D printing, is experiencing significant growth and innovation as layer-by-layer addition becomes an increasingly viable alternative to traditional subtractive manufacturing methods. The global market size is projected to expand at a strong rate, driven by the prototyping segment, particularly In the automotive industry. Industrial additive manufacturing, utilizing technologies such as stereolithography and fuse deposition modeling, is leading the charge in production applications. Despite this progress, challenges persist, including regulatory scrutiny and the need for consultation solutions and installation services. Mergers and acquisitions continue to shape the competitive landscape, as industry leaders seek to expand their offerings and reduce production expenses.
The market encompasses a range of offerings, from industrial-grade printers to desktop models, catering to various industries and educational purposes. Design software and 3D scanning software capabilities are also critical components of the additive manufacturing ecosystem, enabling users to create and optimize their designs for 3D printing. Overall, the market is poised for continued growth and disruption, offering new opportunities for businesses and innovators alike.

How is this Industry segmented?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Hardware
  Software
  Services


End-user

  Automotive
  Aerospace
  Industrial
  Healthcare
  Others


Material

  Plastics
  Metals
  Ceramics
  Others


Technology

  Stereolithography
  Polyjet printing
  Binder jetting printing
  Laser sintering
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Spain
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America



  Middle East and Africa

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period. Additive manufacturing is a technology-driven process that involves creating three-dimensional objects by adding material layer by layer. This technique, also known as 3D printing, has gained significant traction in various industries due to its rapid manufacturing capabilities and material optimization benefits. The market for additive manufacturing is segmented into several areas, including the prototyping segment and the automotive segment, among others. Industries are increasingly turning to additive manufacturing for applications such as automotive prototyping, functional parts production, and patient-specific healthcare products. 3D printing technology encompasses several methods, including Fused Deposition Modeling (FDM), Stereolithography (SLA), and Selective Laser Sintering (SLS), among others.

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The hardware segment was valued at USD 7.79 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The India Product Lifecycle Management (PLM) market is experiencing robust growth, projected to reach $390.85 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 11.48% from 2025 to 2033. This expansion is fueled by increasing digitalization across various sectors, particularly in automotive, engineering, and high-tech industries. Companies are adopting PLM solutions to streamline product development processes, enhance collaboration, improve data management, and accelerate time-to-market. The rising adoption of Industry 4.0 technologies, including IoT and AI, further fuels this growth, enabling smarter product design and manufacturing. Key segments driving market expansion include software solutions, services, and the automotive and ancillary industries, which are witnessing substantial investments in advanced manufacturing and digital transformation initiatives. The presence of established global players like Siemens, Ansys, and Dassault Systèmes, alongside domestic players like Tata Technologies and HCL Technologies, indicates a competitive and dynamic market landscape. While data privacy concerns and the need for skilled professionals could present challenges, the overall market outlook for PLM in India remains positive, driven by the country's burgeoning manufacturing sector and government initiatives promoting digitalization. The competitive landscape is characterized by a mix of global and domestic players, each offering a range of solutions tailored to specific industry needs. This competition fosters innovation and drives down costs, making PLM solutions more accessible to a wider range of businesses in India. The market is segmented by component (software, services), and end-user industry, allowing for targeted solutions based on the specific needs and capabilities of each sector. Future growth will likely be driven by increasing adoption of cloud-based PLM solutions, offering scalability and cost-effectiveness. Furthermore, the integration of PLM with other technologies, like Artificial Intelligence (AI) and Machine Learning (ML), will lead to more efficient and data-driven product development processes. This trend will further propel the market toward sustained and rapid growth throughout the forecast period. This report provides a detailed analysis of the burgeoning India PLM (Product Lifecycle Management) industry, covering the period 2019-2033. With a base year of 2025 and an estimated year of 2025, this in-depth study forecasts market trends until 2033, leveraging data from the historical period of 2019-2024. The report examines key market segments, competitive landscapes, and growth drivers, offering invaluable insights for industry stakeholders. This analysis focuses on PLM software, PLM services, and their adoption across diverse end-user industries in India, including the automotive, aerospace & defense, and high-tech & electronics sectors. The market size is evaluated in millions of units. Recent developments include: May 2022 - Siemens announced the expansion of its state-of-the-art Siemens PLM software global R&D Center in Pune. The center acts as the Asia-Pacific infrastructure hub focused on cutting-edge software product development., April 2022 - BWC Labs, a digital transformation consulting and solution services company in Pune, signed a value-added reseller (VAR) agreement with Dassault Systemes, aligned on the reach and potential of virtual twin technology. BrainWave and Dassault Systemes will jointly offer Virtual Twin experiences for the manufacturing sector in India., April 2022 - PTC announced an agreement with ITC Infotech to accelerate customer digital transformation initiatives, focused on adopting PTC's industry-leading Windchill product lifecycle management (PLM) software as a service (SaaS). ITC Infotech will acquire a portion of PTC's PLM implementation services business and create a new business unit of ITC Infotech, called DxP Services, that will combine PLM professional services experts from both companies. Together, the two companies will work to deliver 'in-flight' Windchill implementation services for a broad set of existing PTC customers while also enabling a growing number of customers to move from their existing, sometimes highly-customized on-premises implementation of Windchill to next-generation, best-practice SaaS.. Key drivers for this market are: Increasing Need For Higher Efficiency, Productivity And Meeting The Changing Demands, Research And Development Activities From SMBs To Develop Smart Products. Potential restraints include: Increasing Complexity Coupled with High Initial Costs and Maintenance Costs. Notable trends are: Research and Development Activities From SMBs to Develop Smart Products to Drive the Market.

Recent developments include: June 2022: Flex announced the development of its operations in the Mexican state of Jalisco's automotive sector. The business is building a brand-new, cutting-edge 145,000 square foot facility that will act as a strategic in-region automotive manufacturing hub for the production of advanced electronic components that will hasten the transition to the era of electric and autonomous vehicles., March 2022: Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), the largest private sector company in India, and Sanmina Corporation, an integrated manufacturing solutions company, announced their agreement to establish a joint venture through investment in Sanmina's current Indian entity (Sanmina SCI India Private Ltd, or "SIPL").. Key drivers for this market are: Rising global demand for electronics Growing outsourcing trend by OEMs Technological advancements in electronics Emphasis on quality and cost optimization. Potential restraints include: Geopolitical tensions and supply chain disruptions Fluctuating raw material prices Labor shortages and rising labor costs Environmental regulations and sustainability concerns . Notable trends are: OEMs increasingly outsource manufacturing to EMS providers due to cost savings, efficiency, and access to expertise. Innovations in electronics, such as artificial intelligence (AI) and 5G, are driving demand for advanced manufacturing capabilities. The market is witnessing a shift towards more complex and customized products, requiring flexible and adaptable manufacturing processes..

The manufacturing sector in India employed over 18.4 million people in the financial year 2023. This was a growth of over 7 percent as compared to the previous financial year. Industries driving the sector's growth included basic metals, coke and refined petroleum, food products, and chemicals among others.

India Chemical and Chemical Products: Annual Survey of Industry: Percentage of Total Manufacturing Industry: Number of Factories data was reported at 5.200 % in 2017. This stayed constant from the previous number of 5.200 % for 2016. India Chemical and Chemical Products: Annual Survey of Industry: Percentage of Total Manufacturing Industry: Number of Factories data is updated yearly, averaging 5.200 % from Mar 2009 (Median) to 2017, with 9 observations. The data reached an all-time high of 5.400 % in 2009 and a record low of 5.100 % in 2015. India Chemical and Chemical Products: Annual Survey of Industry: Percentage of Total Manufacturing Industry: Number of Factories data remains active status in CEIC and is reported by CEIC Data. The data is categorized under India Premium Database’s Chemical and Petrochemical Sector – Table IN.RHI003: Chemical and Chemical Products: Overview of Annual Survey Industry.

The India's Electric Vehicle Battery Manufacturing Equipment Market Report is Segment by Process (Mixing, Coating, Calendering, Slitting and Electrode Making, and Other Process) and Battery Type (Lithium-Ion, Lead-Acid, Nickel Metal Hydride Battery, and Others). The Report Offers the Market Size and Forecasts in Revenue (USD) for all the Above Segments.

The Report Covers Industrial Automation Companies in India and the Market is is Segmented by Type of Solution (Automated Material Handling Solutions (Hardware (Conveyor/Sortation Systems, Automated Storage and Retrieval Systems (AS/RS), Mobile Robots, and Automatic Identification and Data Capture (AIDC))) and Software - Warehouse Management Systems (WMS)/Warehouse Control Systems (WCS)), by Factory Automation Solutions (Industrial Control Systems DCS, SCADA, PLC, and HMI), Field Devices (Sensors and Transmitters, Electric AC Drives, Servo Motors, Computer Numerical Control (CNC) Machines, Inverters, and Industrial Robots), and Software (Manufacturing Execution System (MES) and Product Lifecycle Management (PLM) (Tools, Digital Manufacturing))), and by End User (Automated Material Handling Market (Manufacturing and Non-Manufacturing (General Merchandise, Healthcare, and FMCG/Non-Durable Goods)) and Factory Automation Market (Food and Beverage, Pharmaceutical, Automotive, Textiles, Power, Oil and Gas, Petrochemicals, and Fertilizers)). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

India Semiconductor Market size was valued at around USD 38 billion in 2024 and is projected to reach USD 105 billion by 2030. with a CAGR of 18%.

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India Machine Tool Market Size 2025-2029

The India machine tool market size is forecast to increase by USD 3.08 billion, at a CAGR of 11.6% between 2024 and 2029.

The market is experiencing significant growth due to several key trends and drivers. One of the primary drivers is the increasing adoption of industrial automation and robotics in various industries, including shipbuilding, steel, and automotive. This automation wave is being fueled by advancements in computer numerical control (CNC) machine tools, computer-aided design, and artificial intelligence. Furthermore, the semiconductor industry's digital transformation is leading to increased demand for precision machine tools. Another trend influencing the market is the adoption of additive manufacturing, or 3D printing, technology. 
This technology is revolutionizing manufacturing processes in industries such as renewable energy, wind energy, and construction. Additionally, the shift towards digitalization in manufacturing is driving the demand for machine tools that can integrate with digital systems and support Industry 4.0 and smart manufacturing. Moreover, the market is witnessing fluctuations in raw material prices, particularly for abrasives and batteries, which are essential components in machine tool production. These price fluctuations can impact the profitability of machine tool manufacturers.

What will be the Size of the market During the Forecast Period?

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The market encompasses the production of advanced machine tools utilized in manufacturing various manufactured goods. This market is characterized by a continuous pursuit of higher precision, customization, and efficiency. High-precision components, multi-axis arms, robotics, and computerized numerical control (CNC) systems are integral components of modern machine tools. Precision manufacturing sectors, including automotive components, aerospace, and electronics, dominate the market. Downtime is a critical concern, driving the adoption of smart manufacturing, integrated systems, and artificial intelligence to optimize production.
Emerging trends include the electrification of manufacturing processes, with electric vehicles and sustainable manufacturing gaining traction. The Internet of Things (IoT) and advanced robotics are also transforming the industry, enabling real-time monitoring and predictive maintenance. High-quality components, customization, and the integration of advanced technologies like AI and CNC are key market drivers. Precision engineering and sustainable manufacturing practices are also essential as industries strive for improved efficiency, reduced waste, and enhanced product quality.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technology

  CNC machine tools
  Conventional machine tools


Type

  Metal cutting machines
  Metal forming machines


Action Mechanism

  Semi-automatic
  Fully automatic


Application

  Automotive
  Aerospace and defense
  Heavy Engineering
  Electronics


Geography

  India

By Technology Insights

The CNC machine tools segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth due to the increasing demand for advanced, high-precision components in various industries, including manufacturing, automotive, aerospace, and electronics. Manufacturers are integrating computer numerical control (CNC) technology into their operations to increase productivity, reduce downtime, and enhance product quality. CNC machines, such as CNC lathes, milling machines, drilling machines, and grinding machines, are essential for producing complex parts with high accuracy and consistency. Digital technologies, including real-time monitoring, adaptive control, and MTConnect, are transforming traditional machine tools into smart manufacturing systems.

Additionally, eco-friendly coolants and automation are gaining popularity to promote sustainable manufacturing practices. Advanced manufacturing processes, such as 5-axis CNC milling, multi-axis arms, robotics, and electrification, are also driving market growth. Overall, the market is expected to continue expanding, driven by the increasing adoption of digital technologies, precision engineering, and advanced machining techniques.

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Market Dynamics

Our India Machine Tool Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

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