Engineering industry is a broad, sweeping term that covers many organizations which provide engineering components – either standalone or turnkey or partly assembled for their clients. The clientele served by this industry is diverse. It includes sectors such as infrastructure, energy, automotive, steel, mining, etc.
The Indian Engineering Industry market size is estimated to be $125 billion in 2017. The global potential for business is likely to be several times this figure. The industry is broadly classified into the following.
- Large, Diversified suppliers who serve multiple sectors and also offer turnkey solutions. To be successful, these companies must work on developing engineering expertise as well as excellent project execution capabilities.
- Contract manufacturers who work on specific products on behalf of customers. For these companies, it is critical to identify the product and client portfolio and be able to meet the customer expectations.