According to the plan of IMTMA, by the end of its 12th Five Year Plan, the market demand for CNC cutting machine equipment in India will increase 2.3 times, reaching the level of 237 billion rupees. From 2010 to 2011, the market demand for CNC cutting machines in India was 103 billion rupees, an increase of 28.7% compared with 80 billion rupees in 2009-2010.
IMTMA also predicted that in 2016-2017, the turnover of CNC cutting machine equipment in India increased from the current 36 billion rupees to 139 billion rupees, with an average CAGR of 25%. In the current fiscal year, the industry growth rate is likely to reach 25%.
CNC cutting machine equipment is widely used in India's domestic industrial field. It refers to the equipment driven by electricity to drill, mill, grind or shape metal products.
Mlokeswara Rao, chairman of IMTMA, pointed out that in order to achieve the growth of turnover in the local market, it is also necessary to increase the market share of India's CNC cutting machines and strive to increase the market share of 2016-2017 from 35% in 2010-2011 to 50%.
Rao also mentioned that in the 12th Five Year Plan, the development of CNC cutting machine industry will focus on the development of technology and strive to make breakthroughs in some major parameters, including: high-precision CNC cutting machine, multi spindle composite intersecting WEDM machine, Heavy CNC cutting machine, various metal plasma CNC cutting machine, key mechanical components, CNC system and other subsystems, and Design / analysis / simulation software, processing and manufacturing. At present, India CNC cutting machine industry these technologies are quite lagging behind.
Another focus of the industry is skill development and workforce replenishment. At present, there are 30000 employees in India's CNC cutting machine industry, and the number of labor force is expected to double by 2016-2017.