India Industrial Automation Market Latest Industry Trends, Market Size, Market Share by Application and Regional Forecast 2022-2031

The India industrial automation market is estimated to garner a revenue of USD 6624.1 Million by the end of 2031 by growing at a CAGR of 12.9% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2020, the market in the country registered a revenue of USD 3760.4 Million. The growth of the market can be attributed to the increasing focus of the government of the nation to support the adoption of industrial automation, and for the rising adoption of industrial robotics. The Government of India, over the past few years have taken several initiatives, such as SAMARTH Udyog Bharat 4.0, Make in India, improving ‘Ease of Doing Business’ and others to promote the industrial sector. As the nation moves forward towards the adoption of Industry 4.0, and industrial internet of things (IIoT), the transformation in the industrial sector is anticipated to witness manifold growth. Additionally, several industrial sectors, such as automotive, pharmaceutical, and several manufacturing organizations are increasingly adopting industrial robots so as to increase their process efficiency and also to reduce operational costs. Industrial robots also help to provide enhanced worker safety by eliminating monotonous, repetitive and hazardous activities. Besides this, the growing manufacturing sector, construction industry, as well as other end-user industries are also expected to boost the market growth in the coming years. According to the statistics by the National Investment Promotion & Facilitation Agency of the Government of India, the construction industry in India is projected to reach USD 1.4 Trillion by 2031. Moreover, till June 2021, under the Smart Cities Mission, a total of 2734 projects had been completed out of the 5956 projects.

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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

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The market is also anticipated to grow on account of the growing foreign direct investments (FDIs) across different industrial sectors in the nation, and for the growing economy of the country. According to the statistics by the Department for Promotion of Industry and International Trade (DPIIT), between April 2000 and June 2021, the cumulative FDI inflows in the manufacturing subsectors amounted to USD 100.35 Billion. Additionally, according to the statistics by the India Brand Equity Foundation (IBEF), the Government of India (GOI) increased FDI in the defense manufacturing sector under the automatic route in May 2020 from 49% to 74%. On the other hand, according to the statistics by the World Bank, the gross domestic product (GDP) in current US$ in India grew from USD 1.676 Trillion in the year 2010 to USD 2.871 Trillion in the year 2019.

Growth Drivers and Challenges Impacting the Growth of the India Industrial Automation Market

Growth Drivers

  • Growing Manufacturing Sector in the Country
  • Increasing Supportive Policies Developed by the Government
  • Rise in Adoption of Industrial Robotics

Challenges

  • High Capital Expenditure and Maintenance Cost

India Industrial Automation Market Segmentation Synopsis

The India industrial automation market is segmented by type into fixed automation, programmable automation, and flexible automation. Out of these, the fixed automation segment is anticipated to garner the largest market revenue of USD 2556.9 Million by the end of 2025, up from a revenue of USD 1507.9 Million in the year 2020. By component, the market is further segmented into industrial sensors, industrial robots, industrial 3D printers, machine vision systems, field instruments, vibration monitoring, and others. Out of these, the industrial robots segment is anticipated to garner the largest revenue of USD 1702.4 Million by the end of 2025, up from a revenue of USD 913.8 Million in the year 2020. By technology, the market is segmented into supervisory control & data acquisition (SCADA), distributed control system (DCS), programmable logic controllers (PLC), manufacturing execution systems (MES), programmable automation controller (PAC), human-machine interface (HMI), and others. Out of these, the supervisory control & data acquisition (SCADA) segment is anticipated to garner the largest revenue of USD 1232.1 Million by the end of 2025. By end-user, the market is segmented into oil & gas, aerospace & defense, metals & mining, semiconductors & electronics, automotive & transportation, machine manufacturing, pharmaceuticals, food & beverages, chemicals, and others. Out of these, the automotive & transportation segment is anticipated to garner the largest revenue of USD 1086.4 Million by the end of 2025, up from a revenue of USD 609.2 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the India industrial automation market that are included in our report are 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.

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