Electric vehicle sector is a big opportunity for Magal Engineering

Home
Interviews
Electric vehicle sector is a big opportunity for Magal Engineering

Electric vehicle sector is a big opportunity for Magal Engineering

Interviews
Dec 29,23

In this interview M K Narasinga Rao, MD, Magal Engineering Co, shares details about the company’s future plans and new solutions for electric vehicles (EV) and precision sheet metal industries.

Electric vehicle sector is a big opportunity for Magal Engineering

The Bengaluru-based Magal Engineering Co India Pvt Ltd– which offers high-quality, customised solutions for the sheet metal machine tool and fabrication – will showcase latest solutions for electric vehicles (EV) and precision sheet metal industries at IMTEX Forming 2024. In this interview, M K Narasinga Rao, Managing Director, Magal Engineering Co, shares more details about the company’s future plans.

How has been the journey of Magal Engineering for the last more than 25 years?

Magal Engineering's journey over the past 25 years has been marked by innovation, resilience, and a commitment to delivering high-quality sheet metal forming solutions, cementing its position as a trusted and reliable partner in the industry. The company has experienced various phases of expansion, technological advancements, and market fluctuations during this time. Over the years, we diversified product portfolio, expanded geographical reach, and forged strategic partnerships to stay competitive in the global market.

One significant achievement is we had an ongoing agency business with Deratech Industries, which is now a joint venture - Deratech Machines India Pvt Ltd.

How has the sheet metal industry changed over these years? What is the present status of the industry?

Over the past years, the sheet metal industry has undergone significant transformations, largely influenced by technological advancements, shifts in consumer demands, and global market dynamics. The industry has matured a lot and has become very competitive. The sheet metal industry today is a dynamic landscape that values innovation, efficiency, sustainability, and adaptability to meet the evolving needs of various sectors

What are the USPs of your company and its products?

Our company’s moto is ‘Innovative technology, Outstanding Service’. We sell technology with value add and offer tailored solutions. This allows our customers to procure machines to meet their specific needs or preferences. We provide cost-effective solutions without compromising quality.

Our after sales service team has fully trained engineers to attend to all technical issues following a strict process and aid in optimum use of machine.

Which end-user industries are driving the demand for your products & solutions?

Electrical, electrical vehicles (EV) and auto component industries are propelling demand. Auto industry has a huge potential and we are rebooting for this industry.

What kinds of new opportunities are you looking to tap in the coming years?

EV laminations, EV batteries and precision sheet metal industries are some of the potential markets that we are looking to tap. We are meeting the growing demand for customised machines by offering flexible manufacturing solutions and design capabilities.

We are exploring opportunities in emerging markets and diversifying product portfolios to cater to niche markets. We also plan to enhance service offerings, including maintenance, repair, and after-sales support, to create long-term relationships with clients and add value beyond the product itself.

What are key challenges faced by your customers?

Price is the key concern for customers. We are educating them to improve process & reduce wastage, and add value by introducing new technology.

What are some of the emerging trends in the industry? How do you intend to tap them?

Electric vehicle is one big opportunity and we have our plan in place to tap the EV sector.

The adoption of Industry 4.0 principles involves interconnected systems, and data analytics to create smart factories. These technologies optimise processes, reduce downtime, and enhance overall productivity.

Automation continues to evolve with the integration of robotics, AI, and machine learning. Implementing advanced automation systems in sheet metal fabrication can improve efficiency, precision, and production speeds.

What are your plans to maximise your presence at IMTEX Forming 2024?

Our focus will be on EV and precision sheet metal industry. We plan to highlight cutting-edge technologies, showcase our new product and also have live demonstrations at our booth.