Are you a mechanical engineer? And searching for profitable mechanical engineering business ideas to start entrepreneurship? Find here 15 most profitable mechanical engineering business opportunities for your ready reference.
Mechanical engineering is a lucrative stream in engineering-related fields for the students. And after getting the degree, mechanical engineers can choose either a job or entrepreneurship career in professional life. As you become an expert in the mechanical field, you can open a business in both light or heavy engineering segments. However, here we have compiled a list of mechanical engineering business ideas that demand comparatively small capital investment.
List of 15 Business Ideas for Mechanical Engineers
Can Mechanical engineers start a business? Yes, they can. There are plenty of businesses can be started by people having a mechanical engineering background. Almost all industry sectors offer scopes to mechanical engineering graduates to start a business with less money.
Let us explore the best mechanical engineering business ideas and opportunities:
#1. Aluminum Door Window Manufacturing
The aluminum door window and other aluminum 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 to both domestic and industrial consumers.
The automobile is a natural choice for 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 bodybuilding as well as selling spare parts and accessories related to the vehicle body. The business is very lucrative for new entrepreneurs.
#3. Automobile Spare Parts Store
The automobile spare parts market is huge. The vehicle population is growing rapidly. Therefore, people always look for several spare parts for their vehicles. In starting this business, you must study your local market demand.
You can start with either two-wheeler or four-wheeler spare parts. Never mix up these two in the initial stage of the business. The business demands moderate capital investment for keeping inventory.
#4. CNC Machining Business
This is another great business to start for mechanical engineers. Basically, 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 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.
People having knowledge in computer hardware can start computer assembling business. This business venture demands comparatively small startup capital investment. Basically, computer assembling also allows the customized PC making service. Because of the high price of branded computers, many people go for high-configuration assembled computers.
#6. E-vehicle Assembling
E-vehicle is getting immense popularity these days in both developed and developing countries. And the reputed manufacturing companies are already trying to tap this market with giving the value-addition.
One thing is for certain. E-vehicle business will require considerable investment at the initial phase. Additionally, it demands strategic marketing and financial planning also.
By starting an e-waste recycling business one can make money out of helping the 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
Basically, 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. The growing need for continuous power supply and increasing power outages are driving the diesel generators market worldwide.
LED lights are available in a wide range of colors 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 LED light manufacturing business demands moderate capital investment. Additionally, it is advisable to study the market first to get an adequate idea about the current trends.
#10. Machinery Designing
This is one of the most profitable knowledge-based businesses in the mechanical engineering field. Basically, machine manufacturing companies highly depend on the designer. Nowadays, you can also use 3d technology instead of creating 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
The 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, retail, construction, transport, and other industries also look for the different types of machines for smooth operation.
You can start the distribution and installation of the machinery in your area. However, it is advisable to start with a targeted niche audience.
#12. Nut Bolt Manufacturing
Nut bolts are industrial fasteners. They are widely used in various industrial purposes. You can start a nut bolt manufacturing business on a small scale basis. Additionally, the small-scale operation demands small startup capital investment also.
#13. Solar Panel Installation
Basically, 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.
The U.S. installed 1,665 megawatts (MW) of solar PV in Q1 2016 to reach 29.3 gigawatts (GW) of total installed capacity, enough to power 5.7 million American homes. 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
This is another great business you can start with moderate capital investment. Basically, different types of traditional 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 easily available nowadays. Additionally, you can procure the raw materials from the local wholesale market.
#15. Welding Unit
A welding shop with a 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.
Basically, entrepreneurship demands an attitude with passion and constant dedication. Additionally, you must identify the specific demand and the target consumers of your products or services. We hope this list of 15 most profitable mechanical engineering business ideas will help you in starting your own business in the field.