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 used to transform wood, metal, and other materials into desired shapes and dimensions. These machines work on the rotating workpiece principle and rely on fixed cutting tools for tapping, thread cutting, facing, centering, knurling, drilling, boring, reaming, chamfering, and parting off. They consist of the leg, bed, tool post, lead screw, chuck, apron, headstock, tailstock, carriage, saddle, cross-slide, compound rest, feed rod, and main spindle. They help enhance product uniformity and improve the value chain. Currently, lathe machines find extensive applications in metal spinning, glass working, thermal spraying, woodturning, and parts reclamation.
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Lathe Machines Market Trends and Drivers:
The global lathe machines market is primarily driven by the rising trend of precision manufacturing and industrial automation. Moreover, the surging adoption of lathe machines for fabricating different parts of vehicles due to the escalating demand for fuel-efficient automobiles with advanced safety features is positively influencing the market growth. Additionally, several foreign firms are setting up manufacturing facilities in emerging countries, such as India and China, due to the widespread availability of technical expertise, cheap labor, and economical raw material costs.
This, in turn, offers lucrative opportunities for manufacturers to expand their consumer base and maintain a competitive edge. Furthermore, the rising applications of lathe machines to manufacture medical implants and equipment owing to their accuracy, high speed, and low operating costs have catalyzed market growth. Other factors, including the advent of the Fourth Industry Revolution (Industry 4.0), growing automotive production demand, and technological advances, are also anticipated to drive the market further.
Global Lathe Machines Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Lathe Machines Companies:
Hardinge Inc., HMT Machine Tools Limited (HMT Limited), Hurco Companies Inc., DMG Mori Co. Ltd, Doosan Machine Tools Co. Ltd., EMAG GmbH & Co. KG, Fair Friend Group, Haas Automation 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 type, operation, capacity, end user and region.
Breakup by Type:
- Vertical Lathes
- Horizontal Lathes
Breakup by Operation:
- Conventional Lathes
- CNC lathes
Breakup by Capacity:
- heavy duty
- medium duty
- Low Duty
Breakup by End User:
- Automotive
- general manufacturing
- Transportation
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- 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.
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