Global Lathe Machines Market Report and Forecast 2024-2032

Global Lathe Machines Market Outlook

The global lathe machines market is significantly supported by the growth of the global industrial machinery market, which is expected to grow at CAGR 6% in the forecast period of 2024-2032. The market is being driven by the widespread adoption of CNC lathe machine and the rise of Industry 4.0.

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The Acceleration of Manufacturing Sector in Developing Nations is Driving the Market

Asia-Pacific holds the major lathe machines market share owing to the increasing demand from developing nations, including India and China. The Chinese government initiatives such as “Made in China 2025” focuses on becoming high end producer of goods. This is expected to result in lathe machines market growth in the near future. The growing demand for the prefabricated metal industry is also expected to earn high revenue across North America and Latin America. The increasing popularity of CNC lathe machines is further expected to drive the lathe machines market in Europe. Furthermore, the rise in demand for precision manufacturing, especially due to the rise of Industry 4.0 in major segments of the manufacturing sector, is driving the market for lathe machines globally.

Lathe Machines: Market Segmentation

Lathe refers to a machines tool that is principally used for shaping articles of wood, metal, or other materials. Lathe machines are one of the significant machines tools used in the metal working industry. They are considered a strong metal shaping machines tools. Lathe machines plays a significant role in the metal-working sector. Lathe machines have widespread applications, including sanding, knurling, cutting and drilling.

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The major type of the lathe machines are:

• Horizontal
• Vertical

 In terms of capacity, the market can be segmented into:

• Heavy duty
• Medium duty
• Low duty

On the basis of machines type, the industry is categorised into:

• Mechanical
• CNC

In terms of operation, the market is divided into:

• Manual chucks
• Power chucks

The market can be broadly classified on the basis of its end uses into:

• Automotive
• Construction
• Electronic
• General Machinery
• Oil and Gas
• Paper and Pulp 
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Demand for Precision Manufacturing and IoT is Boosting the Market for Lathe Machines

The rising demand for lathe machines, especially the CNC type, is expected to drive the market due to features such as high precision along with low operational costs. The increased demand for mass production in reduced time frames and the increasing demand from the critical component product manufacturing sector are projected to drive the lathe machines market. The rise of Industry 4.0 is pushing the demand for interconnected machinery, which in turn is driving the demand for machines conducive to predictive maintenance. This is where more CNC lathe machines are projected to be put to use. The rise in demand for machines from various other sectors such as food processing, construction, packaging is driving the general trend. While complex part manufacturing from aerospace industry and military sector is expected to drive the precision machinery segment.

Key Industry Players in the Global Lathe Machines Market

The report presents a detailed analysis of the following key players in the global lathe machines market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• SMEC CO., LTD
• Haas Automation, Inc
• Okuma Corporation
• Accurate Machines Tools 
• EMAG GmbH & Co. KG 
• Others

 The comprehensive report looks into the macro and micro aspects of the industry. The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report