Lathe Machines Market By Type (Horizontal, Vertical), By Operation (Conventional, CNC), By End user industry (Automotive, Industrial Machinery, Transportation, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global lathe machines size was valued at $12,937.6 million in 2021, and is projected to reach $17,798.85 million by 2031, registering a CAGR of 3.1% from 2022 to 2031.
A lathe machine can be defined as a stationary machine tool that is used to shape metal and wood workpieces. Lathe machines rotate the workpiece in a horizontal or vertical plane to remove the unwanted materials from the workpiece and produce the required shape.
Lathe machines are typically made of components such as main bed, main spindle, sub spindle, chuck, guideway, headstock, tail stock, tool turret and computer numerical control (CNC) systems and are available in a wide range on configurations. Vertical lathes rotates the workpiece in a vertical plane and the machinist works the workpiece in a top to down fashion, conversely a horizontal lathe rotates the workpiece in a horizontal plane and the machinist works the workpiece in a side to side fashion.
According to International Energy Agency, India has approximately 25 vehicles per thousand people as of 2020, and the number is expected to cross 150 vehicles per thousand people by the year 2040. The, rise in automobile sales is anticipated to drive the growth of lathes market as lathe machines are used for producing important automotive components such as nuts, bolts, piston, baseball bat, crankshafts, gearbox cases and cylindrical heads.
According to the World Bank have estimated that the world population is projected to reach above 9 billion in 2050, from around 7 billion in 2020. In addition, improvements in economic conditions across the world has enabled people to spend significantly on life enhancing and relatively luxurious products such as better furniture and cars. This, in turn, increases the use of lathe machines as they can be used for producing important automotive components such as nuts, bolts, piston, pump part, ram, train parts, gun barrels, candlesticks, cue sticks, wooden bowls, baseball bat, and crankshafts.
The global lathe machines market is segmented into type, operation, and end-user industry. By type, the market is categorized into horizontal and vertical. By operation, the market is bifurcated into conventional and CNC. By end-user industry, the market is categorized into automotive, industrial machinery, transportation and other. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition AnalysisThe major players profiled in the lathe machines market report include Dalian Machine Tool Group Corporation, DMG Mori Co., Ltd., Ellison technologies, Haas Automation, Inc., Hardinge Inc., HMT Machine Tools Limited, JTEKT Machinery Americas Corporation, Okuma Corporation, SMEC CO., LTD. and Yamazaki Mazak Pvt. Ltd.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lathe machines market analysis from 2021 to 2031 to identify the prevailing lathe machines market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the lathe machines market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global lathe machines market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeHorizontal
Vertical
By OperationConventional
CNC
By End user industryAutomotive
Industrial Machinery
Transportation
Other
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Dalian Machine Tool Group Corporation
DMG Mori Co., Ltd.
Ellison Technologies
Hardinge Inc.
HMT Limited
Okuma Corporation
Yamazaki Mazak Corporation
Haas Automation, Inc.
TEKT Corporation
Samsung Electronics Co., Ltd. (SMEC Machine Tools)
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