According to the latest report by IMARC Group, “Global Lathe Machines Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global lathe machines market reached a value of US$ 22.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 31.12 Billion by 2027 exhibiting a CAGR of 5.10% during 2022-2027.
Lathe machines are the machines that are utilized to shape wood, metal, and other materials into desired sizes and shapes. They comprise of the leg, bed, chuck, headstock, tailstock, carriage, saddle, cross-slide, apron, compound rest, tool post feed rod, lead screw, and the main spindle. Lathe machines operate on the rotating workpiece principle and use fixed cutting tools for facing, centering, chamfering, drilling, boring, reaming, tapping, knurling, thread cutting, and parting off operations. Consequently, they find widespread applications in woodturning, thermal spraying, glass working, parts reclamation, metal spinning, etc.
Lathe Machines Market Trends and Drivers:
The emerging trends of industrial automation and precision manufacturing are primarily driving the lathe machines market. Besides this, the growing product usage in manufacturing medical implants and equipment, on account of its high speed, accuracy, reduced operating costs, etc., is further catalyzing the market growth.
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Moreover, the inflating demand for fuel-efficient automobiles that offer advanced safety features is propelling the adoption of lathe machines for producing various parts of the vehicles. This, in turn, is also positively influencing the global market. In addition to this, the advent of Industry 4.0 and the increasing integration of the Internet of Things (IoT) technologies are anticipated to stimulate the lathe machines market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Lathe Machines Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
DMG Mori Co. Ltd, Doosan Machine Tools Co. Ltd., EMAG GmbH & Co. KG, Fair Friend Group, Haas Automation Inc., Hardinge Inc., HMT Machine Tools Limited (HMT Limited), Hurco Companies Inc., JTEKT Corporation, Macpower CNC Machines Limited, Mazak Corporation, Okuma Corporation and SMEC CO. LTD.
The report has segmented the market on the basis of region, type, operation, capacity and end user.
Breakup by Type:
- Vertical Lathes
- Horizontal Lathes
Breakup by Operation:
- Conventional Lathes
- CNC Lathes
The Breakup by Capacity:
- Heavy Duty
- Medium Duty
- Low Duty
Breakup by End User:
- General Manufacturing
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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