Auto And Farm Equipment Manufacturers Are Making Hay. The Market Is Ready For New Technologies And Over The Last Couple Of Years, There's Been A Flood Of New Products.
SUPER-EFFICIENCY OF PRODUCTS, MAINLY owing to self-steering systems, is driving the business for auto and farm machinery. Say what you might, but just like the food business, auto and farm equipment business will always see brisk business.
Over the last couple of decades, India has advanced much in terms of auto components and farm equipment manufacturing. In terms of auto components, according to a report by Automotive Component Manufacturers Association of India (ACMA), the Indian auto components industry is expected to register a turnover of $100 billion by 2020, backed by strong exports ranging between $80-100 billion by 2026, from the current $11.2 billion.
The farm equipment sector, which mainly comprises tractors and implements for farming, is set to grow moderately between 6-7% in FY19, given the high base attained in the current fiscal, predicts ICRA.
“The government remains committed towards rural development and agri-mechanisation, a critical component in improving the state of agriculture in the country, coupled with other factors such as increasing rural wages and scarcity of farm labour are likely to aid growth in industry volumes over the long term,” says said Anupama Arora, VP & sector head, corporate sector ratings, ICRA Ratings.
Global autonomous farm equipment market share is anticipated to exceed 7.5 million units by 2024. Shifting trends towards usage of advanced systems, precision farming, adaptation of GNSS system and
TECHNOLOGY INCLINED
There are reasons that attribute to the rapid growth of this industry. This includes suppliers’ ability to manufacture at scale, a buoyant end-user market, adequate liquidity, and improved consumer sentiment.
هذه القصة مأخوذة من طبعة June 2018 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 June 2018 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
Innovate & integrate
The recently concluded roundtable on ‘Manufacturing Reimagined: A digital Leap with ServiceNow' focused on the role of digital transformation in manufacturing and supply chain management, emphasising the integration of digital technologies to enhance operational efficiency, sustainability, and business growth.
India's path to global semiconductor dominance
In conversation with Ashok Chandak, President IESA and Dr V Veerappan, Chairperson, IESA
Hydrogen: A catalyst for decarbonisation
Hydrogen is gaining momentum as a versatile solution with the potential to decarbonise various sectors. Exploring the current state of hydrogen, challenges and prospects that lie ahead.
Al's silent cyber attack
Take a sneak peek into the escalating threat of AI-driven cyber-attacks, along with the intricate challenges and imperative strategies in safeguarding against digital invasions.
Revolutionising energy efficiency
Effective electric motor rewinding practices are vital for enhancing energy efficiency and mitigating carbon emissions.
BEYOND TRACKS
From high-speed trains, metros, monorails, to turnkey systems, services, infrastructure, signalling and digital mobility, Olivier Loison, Managing Director of Alstom India delves into the company's century-old legacy and its stride towards the future.
Enhancing asset management with forefront RFID technology
Track, manage and monitor inventory of high-value assets using Zebra Integrated RFID technology to optimize workflow.
The role of robotics, automation & network integration
There is a symbiotic relationship between robotics, automation, and network technology. With the Internet of Things projected to exceed 25 billion devices, the integration of cutting-edge robots into interconnected systems is rapidly becoming a reality.
Pune Machine Tool Expo and FACTEQ 2024 to propel manufacturing progress in India
The four-day event featured around 230 exhibitors
UltraTech Cement's ₹800 crore investment
UltraTech's board greenlights capacity expansion at the Parli facility by 1.2 million tonnes