THE CUTTING TOOLS INDUSTRY LARGELY depends on the automotive sector and hence was hit by tough market conditions last year. Speaking about the market situation, Gautam K. Ahuja, managing director, Dormer Pramet India said, “The demand for cutting tools was quite low in India last year, with GDP growth expected to be around 5% in 2019-20. The automotive industry declined to a historic low of -14% in 2019, which was much worse than the global recession of 2008. Even sectors like oil & gas and textile machinery have taken a big hit. Thus, drilling & boring have not been any different and followed the same path of decline in 2019. However, it seems that we have bottomed out and the demand in early 2020 is slightly better than the second half of 2019. The GDP is expected to be around 5.8% in 202021, which is a little better than the current fiscal year. Dormer Pramet India has started 2020 on a positive note and we expect to continue the momentum.”
Giving overview of the market from his point of view, L. Krishnan, managing director, TaeguTec India says, “The demand for cutting tools is largely correlated with that in the automotive and auto components industry, and this applies for specific manufacturing applications of drilling and boring too. However, there are some pockets like the oil & gas and heavy engineering sectors, which require significant drilling & boring all year long. These sectors are doing reasonably well. Of course, once the auto sector recovers, we expect demand to improve as well.”
هذه القصة مأخوذة من طبعة March 2020 من Manufacturing Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 2020 من Manufacturing Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Optimising milling operations
Exploring innovative strategies that are reshaping the milling landscape to meet the challenges of a competitive global market.
The path to excellence
Tata AutoComp’s Double Deming triumph is testament to quality and innovation
Boosting India's energy efficiency with advanced low voltage motors
Stefan Floeck, Division President of IEC Low Voltage Motors at ABB Motion, discusses the role of low voltage motors in India’s industrial future.
The Tech of E-commerce
Technology is revolutionising e-commerce by enhancing demand forecasting, inventory management, and customer experiences through AI, blockchain, IoT, and real-time data analytics.
Driving Sustainability and Innovation
A conversation with Rajendra B Chunodkar, President Manufacturing Operations, Lupin
The evolution of machining technologies
The evolution of machining technologies is reshaping the manufacturing landscape, offering unprecedented opportunities for efficiency, precision, and sustainability.
Transforming the future of manufacturing technology
A pre-event report on IMTEX 2025: The premier manufacturing and metal cutting technologies event for
THE MAKE IN INDIA JOURNEY
An analysis of the initiative's impact on the manufacturing sector.
Tata Motors Re.Wi.Re: Innovation meets responsibility
Tata Motors advances circular economy via Re.Wi.Re scrapping facility.
After Apple, Google Pixel set to be manufactured in India
Dixon Technologies' alliance with Compal Electronics is poised to further accelerate India's push to become a global hub for smartphone manufacturing.