Market Overview

India is emerging as a global hub for high-growth industries, driven by innovation, investment, and increasing demand for advanced technologies. The following sectors represent significant opportunities and underline India’s potential in shaping the future of global manufacturing and exports :

• Medical Devices

  The medical devices sector is a sunrise industry in India, poised for rapid growth. Valued at approximately USD 11 billion in 2020, the Indian medical devices market is projected to expand to USD 50 billion by 2030, with an impressive CAGR of 16.4%. This robust growth highlights India’s position as a key player in the global healthcare technology landscape.

• Aerospace and Defense

  India’s aerospace and defense industry is experiencing unprecedented growth, driven by rising exports and increased domestic production. Defense and aerospace exports reached a record USD 2.63 billion (Rs. 21,083 crore) in FY 2023-24, marking a 32.5% growth over the previous year. Over the last decade, defense exports have grown 31-fold, reflecting the sector’s expanding global footprint. The Indian aerospace and defense market, valued at USD 27.1 billion in 2024, is projected to reach USD 54.4 billion by 2033, with a CAGR of 6.99%.

• Electric Vehicles (EV)

  India’s EV market is accelerating at a remarkable pace, reflecting the nation’s commitment to sustainable mobility. The market is expected to reach USD 7.09 billion (Rs. 50,000 crore) by 2025. According to the CEEW Centre for Energy Finance, the EV sector presents a USD 206 billion opportunity by 2030, requiring an estimated USD 180 billion investment in vehicle manufacturing and charging infrastructure.

  India’s thriving growth across these high-tech sectors underscores the nation’s role as a global innovation and manufacturing hub. At Micron EMS, we are proud to contribute to this transformative journey by delivering cutting-edge solutions tailored for these dynamic industries.