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Mechanical Engineering Business Ideas
Mechanical Engineering is a money-spinning career path for engineering students. There are numerous ways to get into entrepreneurship for mechanical engineers.
This discipline of engineering involves designing, production, and operation of machinery. Mechanical is a lucrative stream in the engineering career for the students. And after getting the degree, mechanical engineers can choose both the job or entrepreneurship career in the professional life.
As you become an expert in the mechanical field, you can open a business in the both light or heavy engineering segment. However, here we have compiled a list of mechanical engineering business ideas that demand comparatively small capital investment in starting.
List of 20 Business Ideas in Mechanical Engineering Field
1. Aluminum Door Window Manufacturing & Fabrication
Aluminium door window and other aluminium fabricating products are highly trending now in the construction industry. Technology is also upgrading day-by-day. Basically, it provides durability and stylish look than any other conventional items like wood or iron. With a 1000 Sq Ft workspace, you can start this business. Basically, you can cater both the domestic and industrial consumers.
One of the best aspects about this business is that the start-up costs are low and only a minimal inventory must be stocked, as all the window orders will be custom sizes, and doors can also be manufactured on an ordered basis.
2. Auto Body Store
The automobile is a natural choice for the mechanical engineers. In this segment, you can start an auto body store with quality tools and equipment. Generally, you can provide services both the auto body repairing and new body building as well as selling spare parts and accessories related to the vehicle body.
3. Automobile Spare Parts Store
Automobile spare parts market is huge. The vehicle population is growing rapidly. Therefore, people always look for the several spare parts for their vehicles. In starting this business, you must study your local market demand. And start with either two-wheeler or four-wheeler spare parts. Never mix up in starting. The business demands moderate capital investment for keeping inventory.
4. CNC Machining Business
Many products that businesses use and sell are made through a highly precise process called computer numerical control (CNC) machining.
CNC is the process of mechanizing machine tools that are operated by precisely programmed commands encrypted on a storage medium as opposed to controlled manually by devices. The Machine Shop Services industry steadily expanding these days with a great revenue growth. Industrial machinery is one of the prominent end users of the market, owing to its varied applications such as pipe cutting, tube cutting, and welding preparations.
5. Computer Assembling
With an adequate knowledge in the computer hardware, you can start computer assembling business. In addition, the business demands comparatively small startup capital investment. Basically, computer assembling also allows the customized PC making service. Because of the high price of branded computer, many people go for high-configuration assembled computers.
6. E-vehicle Assembling
E-vehicle is getting immense popularity these days in the both developed and developing countries. And the reputed manufacturing companies are already trying to tap this market with giving the value-addition. Definitely, the business demands a lot of capital to start with.it demands strategic marketing and financial planning also.
7. E-waste Recycling
By starting an e-waste recycling business one can make money out of helping environment toxic free. The objective to start an e-waste recycling company is to create an opportunity to transfer e-waste into socially and industrially beneficial raw materials like valuable metals, plastics, glass etc. by using simple cost effective technology.
8. Generator Manufacturing
the generator provides a definite and alternate source of electricity at the time of power cut. An electrical generator is a device that generates electricity from mechanical energy, usually via electromagnetic induction. The diesel generators market is expected to grow from an estimated USD 13.06 Billion in 2015 to USD 16.96 Billion by 2020, at a CAGR of 5.4% from 2015 to 2020. Growing need for continuous power supply and increasing power outages are driving the diesel generators market worldwide.
9. LED Light Manufacturing
LED lights are available in wide range of colours from 2700K to 6500K which are dark, yellow, mild yellow and ultra white. Generally, LED consumes low energy and gives brighter performance compared to a bulb, CFL or tube light. The business demands moderate capital investment.it is advisable to study the market first to get an adequate idea about the current trends.
10. Machinery Designing
This in one of the most profitable knowledge-based business in the mechanical engineering field. Basically, the machine manufacturing companies highly depend on the designer. Nowadays, you can also use 3d technology instead of create costly machine models. Though the machine design procedure is not standard, there are some common steps you can follow. These can be followed as per the requirements wherever and whenever necessary.
11. Machinery Distribution & Installation
Machine is an integral part of our life. And any type of domestic or commercial operation involves different types of machine operation. Apart from the manufacturing industry, the retail, construction, transport and other industries also look for the differnt type of machines for the smooth operation. You can start distribution and installation of the machinery in your area. However, it is advisable to start with a targetted niche audience.
12. Nut Bolt Manufacturing
Nut bolts are industrial fasteners.They are widely used in the various industrial purpose. You can start nut bolt manufacturing business as small scale basis. Additionally, the small-scale operation demands small startup capital investment also.
Nuts and bolts are key industrial fasteners that are used in every machines, structures and products. These are light engineering products and do not require heavy investments. You will also get enough clients for these products as there are lots of SMEs who look for nuts and bolts in small and huge quantities.
13. Solar Panel Installation
solar is the best source of the alternate energy solution. And the solar panel is the most cost-effective way of getting solar energy for the household or industrial purpose. Installation of the panels has been deemed as a lucrative business as it gives huge profits with minimal investment and manpower. Solar panels can be placed on the roof of homes, businesses, or remote research stations, and can be used independently of or in conjunction with the local power grid.
14. Solar Product Manufacturing
different types of traditionally and innovative solar products are getting huge popularity these days. Some of the popular items are solar LED lantern, street light, solar CFL inverter, torch etc. The manufacturing technology is available. Additionally, you can procure the raw materials from the local wholesale market.
15. Welding Unit
A welding shop with portable welding facility is a profitable business to start. However, you need to have an uncontrollable desire to succeed and enjoy dealing with people. When it comes to welding skills, it is not easy to give a one-size-fits-all answer simply because welding is involved in so many industries. However, you must have the basic knowledge and skill for starting the business.
16. Product Assembly Service
This business involves assembling of products for manufacturers who are looking to save up on their expenses while also giving young entrepreneurs the chance to earn something. This particular business will give you the freedom to work with multiple companies at your own pace and comfort.
17. Mechanical Engineering Consultancy Firm
Apart from mechanical skills, math skills, creativity and communication skills, which you have learned in your college, you need practical experience in designing, testing, manufacturing, tools, and machines to shine in this field. As a mechanical engineering consultant, most of your tasks will revolve around solving problems in real-world scenarios. There are many businesses that are looking for a consultancy that would support them in mechanical engineering services.
18. Supply Chain Management
You can make good money from supply chain management. This refers to several activities including the production, design, and transportation of raw materials for the final products, as well as quality control and distribution of the final products to the end customers. Here, your role will be to help the manufacturers make the supply chain process easier and smoother by designing cost-effective ways for them.
19. Chemical Industry Machines Designing
As a mechanical engineer, you can put your skills to good use in the chemical industry by designing machines that can be used in producing chemicals.
20. Scrap Metal Business
There are a great number of options open to the creative entrepreneur who is considering starting a recycling business focusing on scrap metals. You can specialize and operate a scrap metal depot that sells various reclaimed metals to metal recycling companies.
this is a good choice for a recycling business start-up, and the investment can vary from a few thousand dollars to hundreds of thousands of dollars.
We hope this list of 20 most profitable mechanical engineering business ideas will help you in starting your own business in the field.
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