"THE INDIAN MACHINE TOOL MARKET LIKELY TO SEE A THREE-FOLD GROWTH IN NEAR FUTURE"

With India gradually evolving as a new hub for the manufacturing, TK Ramesh, MD of Ace Designers Pvt Ltd, is confident that the Indian machine tool market has immense potential to witness exponential growth in the next 3-5 years. He also outlined key trends, new services, and technologies launched by his company recently and the perks of associating with a one-of-its-kind platform - Festival of Manufacturing

What, according to you, are the key trends that are shaping the machine and tools industry? 

In the normal course, concerns related to quality, cost, and delivery (QCD) continue to persist. However, two key factors are significantly influencing these matters.

Firstly, there is a growing demand for equipment, be it machinery or any other equipment, which is smart, and will allow them to connect with other manufacturing facilities from within the customer's premises. Basically, they are looking for machines with a layer of intelligence.

This means that individuals not only acquire equipment to enhance productivity and generate parts, but they also seek to gain insights into various aspects. They are interested to learn about what parts were made, activities which occurred during specific time frames (e.g., first shift/second shift), and discover trends. Additionally, if the machines were not functioning, they want to understand the reasons behind this production halt. For instance, was it due to a lack of operators or a shortage of materials? Therefore, there is a genuine demand for intelligent equipment; those that can be connected and possess a layer of built-in intelligence.

The second aspect stems from the increasing pressure of better quality and cost-effectiveness which gets further complicated by disruptions in the supply chain. Thus, people are looking for "just enough" machines and equipment, especially for highly cost-sensitive components and parts, as there is no interest in purchasing technology just for the sake of purchasing it. Instead, they want it to be affordable and deliver an impact. Thus, people are in the search for appropriate technology that aligns with this.