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India engineering goods market: 15.4% CAGR growth forecast between 2012-55

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Engineering Goods Market In India 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-31 00:10:01
The India engineering goods market is to grow at a CAGR of 15.42 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growth of end-user industries. The Engineering Goods market in India has also been witnessing recent technological advancements. However, the lack of skilled workforce could pose a challenge to the growth of this market.

One of the major trends in the Engineering Goods market in India is the increase in technological advancements. Many vendors have come up with advanced technologies in the course of producing engineering goods. The increased productivity and the reduced cost of production have made this trend popular among many of the vendors across the country. Even though this trend is in its nascent stage, it is expected to gain popularity and acceptance among the vendors within a few years.

One of the major drivers in the market is the growth of the end-user industries. The growth of end-user industries such as Power, Infrastructure, and Manufacturing has increased the demand for engineering goods in India.

One of the major challenges in the market is the lack of a skilled workforce, as this is an integral part of the Engineering Goods market in India.

The key vendors dominating this market space are ABB Ltd., Caterpillar Inc., Gildemeister AG, Komatsu Ltd., L&T Ltd., Kirloskar Brothers Ltd. And, Siemens AG. Other vendors are Alstom T&D India Ltd., BEML Ltd., BHEL, Crompton Greaves Ltd., Deere and Co., EMCO Ltd., Godrej Group, Ingersoll Rand Inc., L&T Ltd., Powerica Ltd., Tata Hitachi Construction Machinery Co. Ltd and, Vijai Electricals Ltd.

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