Metal forming industry estimated to grow at a CAGR of around 15%

January 15, 2018 6:31 pm

IMTEX FORMING 2018 & Tooltech 2018 is scheduled to be at Bangalore International Exhibition Centre in Bengaluru between 25th and 30th January. In an interview with OEM Update, V Anbu, Director General and CEO, IMTMA gives an overview of metal forming industry in India and also briefs about the key focus of this international event.

How do you gauge the metal forming industry in India?

The market size of India’s metal forming sector during 2016-2017 was ` 2,450 crore Indian metal forming industry has a market share of around 25 per cent. Around 75 per cent of metal forming machines consumed in India are imported.

India’s metal forming sector contributed around 20 per cent of the total machine tool demand in India during 2016-2017. The long-term prospects look good with demand picking up in consumer durables, electronics and automobile industries.

Metal forming industry is expected to grow at a CAGR (Compound Annual Growth Rate) of around 15 per cent in the next 3-5 years.

How mature is the metal forming industry in India in terms of technology adoption? How do you see the impact of Industry 4.0 on metal forming?

Technology development is crucial for improving productivity, efficiency and competitiveness. With demand for quality on end products increasing, metal forming sector is significantly moving towards intelligent manufacturing as elucidated by the use of Industry 4.0 or Industrial Internet of Things, increasing use of metal additive manufacturing or 3D Printing, etc. Every segment including large original equipment buyers are opting for new premium technologies such as near net shape forming, hydro forming, laser processing, three-point bending and folding, and so on to bring forth products with zero-defect.

Further, there is plenty of scope for automation in sheet metal machines. Indian customers are also realising the potential that automation provides in terms of quality improvement, safety in handling of sheet metal and fatigue of operators, etc. Smaller firms are opting for automated machines selectively.

Could you throw some light on the upcoming IMTEX FORMING 2018 & Tooltech 2018?

IMTMA is organising IMTEX FORMING 2018 & Tooltech 2018 from 25th to 30th January at Bangalore International Exhibition Centre in Bengaluru.

Innovations in metal forming technologies, robotics and automation, welding and joining, wire-forming and drawing, presses, die casting, hydro forming, sheet metal forming machines, presses for special applications, dies and moulds, hydraulic and pneumatic systems and elements, testing machines, and so on are expected to be showcased.

The exhibition will feature a large number of global companies introducing new technologies to suit many user industries such as aerospace, defence, automobiles, auto components, capital goods, electrical and electronics, earth moving and construction, food processing and dairy equipment, and many others. High level delegations from public and private sector industries will be present as trade delegations.

Coinciding with IMTEX FORMING 2018, IMTMA is also organising an International Seminar on Forming Technology (a seminar on trends in metal forming) on 24th January.

 

With demand for quality on end products increasing, metal forming sector is significantly moving towards intelligent manufacturing.

V Anbu, Director General and CEO, IMTMA