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General
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Engineering products includes Aerospace products, Automotive
products, Medical products, Construction equipment, Electronic
products, Electrical products , Consumer products, Etc.
Technology
- In recent
years, a new technological discipline has been created -
mechatronics. The aim is to stimulate a perception of the fields
of mechanical engineering, electrical engineering, electronics
and information technology not as separate areas but as an
overall system.
- Numerous
other trends can be observed throughout the field of power
transmission engineering. Important development criteria include
fail-safe functions, low maintenance, good price-performance
ratios and high efficiency. There is also an increasing trend
towards the integration of mechanical and electrical
transmission engineering components (mechatronics), with, for
example, more and more manufacturers offering geared motors and
frequency inverters (so-called inverter-fed motors) as single
units. These are ideal for integration into ‘intelligent’
production systems.
Demand
- The demand
for electric motors, generators and transformers in the EU
slightly decreased to more than € 34 billion in 2005. The demand
for bearings, gears, gearing and driving elements increased to €
24 billion that year. The demand for lifting and handling
equipment also grew, to almost € 42 billion. The demand for
hydraulics was estimated to have grown to more than € 7 billion
in 2004, for pneumatic products it was € 2.8 billion that year.
The demand for machine tools continued it slow recovery, to €
11.7 billion in 2005. Germany is the largest market for all
products, while other main markets are Italy, France, Spain and
the UK.
Market
- Industrial
products and engineering sector has emerged rather gradually in
the Indian scenario. Growth has been 6% to 25% in past few years
in different sub sectors. And so has been the growth in exports.
- It is a
wide sector that caters to multiple industries. In India, it is
highly scattered and fragmented. These products have a large
domestic market and the demand in developing countries,
especially the ones with manufacturing based economy, is high.
Indian engineering products have an added advantage of being
cost effective.
- The
engineering products market is mostly a subcontracting industry,
supplying a wide range of industries. Customers of engineering
products are Original Equipment Manufacturers (OEM) as well as
their main suppliers. These OEMs manufacture industrial
machinery from the modules and parts and deliver them to the end
user, which in most cases are industrial customers.
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