Product sales and demand forecasting are crucial for future technological investments and technology strategy formulation. Forecasting technological diffusion plays a vital role in short and long-term product development planning. Extant literature has showcased the significance of diffusion modeling approaches in accurately predicting the production or sales of new products. The present study proposes forecasting the production trends of non-CNC and CNC-based metal-cutting machine tools in the Indian market. The study employs the Bass model to forecast the production of Turning and Milling machines introduced in the last five decades (1970-2019). The results demonstrate a decreasing production trend for non-CNC-based Lathes and Milling machines and an increasing trend for CNC-based Turning and Machining Centres. The study findings also highlight the co-existence of multiple technological generations and its impact on dynamic market demand trends. The study has implications for machine tool manufacturers in anticipating market demand and strategizing technology and product development planning.