GROWING NEED FOR FUTURISTIC TECHNOLOGY IN DIE AND MOULD MANUFACTURING

India's die and mould sector, one of the prominent contributors to the Indian economy, is set to grow with a CAGR of 9 per cent by 2025. The article explains why Industry 4.0 is necessary for the growing die and mould sector.

- Pankaj Abhyankar

It is undisputed that the foundation and way forward for mass production depends upon the die and mould segment.

The assembly of all physical products begins with a die and mould before being shipped by the company. In India, the die and mould industry has become one of the foremost contributors to the Indian economy due to its progression and technological advancements, with an expected CAGR of 9 per cent by 2025.

GROWING OPPORTUNITIES

Technology has evolved significantly since the invention of handmade tools. Globalisation and Industry 4.0 have emphasised innovation of die and moulds across industry segments. The automotive industry is a key consumer of die and moulds in the country. Apart from the auto industry, the electrical and electronics segments are also projected to drive demand. Some other emerging industries expected to create demand for die and moulds in India include consumer durables, medical, white goods and defence.

The die and moulds segment is driven by new opportunities for the lightweighting of products and safety-critical parts. Simulation technology en les output prediction and helps refine the design before manufacturing. Moreover, the development of 3D printing enables better thermal management of plastic moulds and die casting dies.

CONTRIBUTION TO THE EV REVOLUTION

Recently, the Government of India reiterated its focus on electric vehicles (EVs) as a part of the Union Budget 2022. It has introduced a battery swapping policy that will enable private players to set up battery swapping stations, encouraging further advancements for EVs. The primary components with business opportunities for tool rooms in electric vehicles will be for the motor casing, light-weighting and transmission parts along with their structural parts.