Ideas for Mechanical Engineers to establish start-up businesses

Nowadays, there are plenty of business opportunities available for mechanical engineers after completing education. 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.

Here are some start-up business ideas available for mechanical engineers:

1. Nuts and bolts manufacturing

A majority of industries these days use nuts and bolts for enhancing the production levels to a great extent. A mechanical engineer can start this business because it doesn’t require heavy investments. Apart from that, nut and bolts manufacturing make feasible ways to get clients while marketing them.

The bolt manufacturing industry is anticipated to grow by 5.5 percentage by 2026 globally.

With the advancement of construction industries, various types of bolt are used across industries. Some of the popular variants are:

• Carriage bolts: These bolts are also known as coach bolts. Their structure is different from others. Its upper part is domed and the square section below the grips is fastened which restricts its movement when it is tightened.
• Hex head bolts: Just as the name suggests these equipment are designed in a hexagonal shape and are driven with a wrench.
• Machine screws: These types of screws have a flat point. They are used for various applications but are mainly used in tapped holes.
• Shoulder bolts: These bolts has a thread in the space between the head of the tool and the screw and are helped with the help of a socket drivers.

Click Here to see Project Report On Nuts And Bolts M.S., H.T. And S.S.

2. Solar panel installation

Solar panels are becoming a popular one these days because they contribute more to increase the power production significantly. On the other hand, installing them is a lucrative business enabling mechanical engineers to generate more revenues.

The India solar power market is expected to grow at a CAGR of more than 40% during the forecast period 2020-2025. Major factors driving the market studied are the declining cost of the solar module and the government policies like allowing 100% FDI under automatic route for renewable power generation and distribution projects which is expected to increase the participation from global players into the Indian market.

Click Here to visit all project reports related to SOLAR AND SOLAR BASED PROJECTS (POWER PLANT, GEYSER, CELL, MODULAR ETC.)

3. Mechanical engineering consultancy firm

Starting a mechanical engineering consultancy firm is one of the best ideas because it allows an engineer to earn high returns. In fact, it offers solutions for problems in industries that will help accomplish goals effectively.

The scope of mechanical engineering no longer remains limited to just manufacturing and testing of huge machinery and equipment. With technology making new advancements, there are several new domains in mechanical engineering which are being taken up by passionate engineers. These domains include robotics, new materials, nanotechnology, computer-aided design, geomechanics, etc. The two highly pursued domains are robotics and mechatronics, both of which combine the knowledge of mechanical engineering with other streams to deliver state of the art products.

Robotics – Robotics is an interdisciplinary stream of engineering that combines mechanical engineering, electrical engineering and computer science with an aim to design and develop robotic systems along with computer systems to control them. With the AI revolution already started, Robotics as a stream has been on the rise and is expected to grow in both reach and demand in the coming decade.

Mechatronics – Mechatronics too, is an interdisciplinary branch of engineering which usually combines mechanical engineering, electrical engineering and Information technology. A mechatronic engineer is responsible for designing complex engineering systems, can assist in process automation and also test the systems in use in the processes.

From automobiles to heavy-duty lifting machines and even the modern aircrafts that defy speed barriers, a variety of modern systems are being designed under the supervision of expert mechanical engineers. You will not find mechanical engineers limiting themselves to the manufacturing industry anymore. Mechanical engineers are being welcomed in various industries with open arms and high compensation packages, provided that the candidates are skilled and proficient.

4. Waste management

The waste management industry is expanding day by day and mechanical engineers can get best opportunities in this sector. A mechanical engineer can guide government and private companies to manage their waste without any hassles. Furthermore, using simple innovative technologies in e-waste business will result in major advantages.

The Indian garbage to offer a business opportunity of USD 14 billion by 2025, set to unlock new business avenues in the waste treatment industry. The growing economies across the globe are observing an increase in urban population, rise in per capita income level and increasing consumption level.

The Global Smart Waste Management System Market is expected to grow at an impressive Compound Annual Growth Rate (CAGR) from 2018 to 2025. The major forces driving the Smart Waste Management System Market include a rise in smart city initiatives across different regions and stringent regulations and compliance requirements for environment protection & waste management. Recently, integration of Internet of Things (IoT) across different verticals is providing good opportunities for the growth of the Smart Waste Management System Market by providing real-time intelligence, thus, leading the organizations to shift towards deployment of smart solutions.

Click Here for Project Reports on Products from Waste

5. Machinery designing

Since design is very important for any machine, a mechanical engineer can recommend the same to companies. It is a wise one to follow the latest technologies including 3D to create the designs with creativity and innovation.

The design engineers are now a days in demand, due to new technologies developing in india. Even the 3D printing technology requires a software Crafted design for printing.

The design engineers uses softwares such as Solidworks, Creo, Autocad, Soldiedge For Drafting and designing. The designing team has a work of creating Machine Parts or Products from the Scratch through R&D and Brainstorming. The parts created are sometimes revised upto 50 times just becauses of shapes or not getting desired property.

Every company uses different software for CAD, CAM and CAE. so sometimes it becomes a difficult task to find a job in designing for the softwares you know and you have learned. While there are also possibilities that you have to upgrade your skill sets becauses the softwares also gets updated with new features from time to time.

6. Automobile showroom

Starting an automobile showroom is also one of the great ideas for mechanical engineers because they help earn high profits. However, it should meet certain requirements for making the business a successful one. Some of them include location, manpower, dealership, capital, and vehicle wholesale accessories supplier that can help reach the next levels.