India Industrial Automation Market to Grow with a CAGR of 12.9% During 2021-2025; Market to Grow on Account of Growing Initiatives of the Government of the Nation
Kenneth Research published a report titled India Industrial Automation Market: Global Demand Analysis & Opportunity Outlook 2025 which delivers detailed overview of the India industrial automation market in terms of market segmentation by type, component, technology, and by end-user.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The India industrial automation market is anticipated to grow with a CAGR of 12.9% during the forecast period, i.e., 2021-2025. The market is segmented by type into fixed automation, programmable automation, and flexible automation, out of which, the fixed automation segment is anticipated to garner the largest market revenue of USD 2556.9 Million by the end of 2025. Moreover, in the year 2020, the segment generated a revenue of USD 1507.9 Million.
The India industrial automation market is further segmented by component into industrial sensors, industrial robots, industrial 3D printers, machine vision systems, field instruments, vibration monitoring, and others, out of which, the industrial robots segment is anticipated to garner the largest revenue of USD 1702.4 Million by the end of 2025. Moreover, in the year 2020, the segment generated a revenue of USD 913.8 Million.
The India industrial automation market is estimated to garner a revenue of USD 6624.1 Million by the end of 2025, up from a revenue of USD 3760.4 Million in the year 2020. Rising focus of the government of the nation to promote the industrial sector, along with the rise in adoption of industrial robots across different industries, are some of the major factors anticipated to drive the growth of the market in the coming years.
Increasing Number of Government Initiatives Aimed at Promoting the Industrial Sector to Drive Market Growth
Over the past few years, the Government of India (GOI) has taken several key initiatives, such as the SAMARTH Udyog Bharat 4.0, Make in India, improving ‘Ease of Doing Business’ and others to promote the industrial sector in the country. With these initiatives set in place, the industries have witnessed a massive surge in the inflow of foreign direct investments (FDI). Besides this, the industries are also focused on enhancing their operational efficiency and reduction of operational costs by the adoption of industrial robots. Such factors are therefore anticipated to drive the growth of the market in the coming years.
However, the high capital expenditure and maintenance cost is expected to operate as key restraint to the growth of India industrial automation market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the India industrial automation market which includes company profiling of Siemens AG, Endress+Hauser Group Services AG, ABB Ltd., Schneider Electric, Enpro Industrial Automation Pvt. Ltd., General Electric, ifm electronic India Pvt. Ltd., B&R Industrial Automation Pvt. Ltd., Mitsubishi Electric Corporation, Rockwell Automation, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the India industrial automation market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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