Lathe Machines Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Lathe Machines Market

The lathe machines market size was valued at USD 25.01 billion in 2018, and the market is now projected tgrow from USD 57.54 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period of 2019-2026.

The rising demand for CNC lathe machines is boosting the market due tbenefits such as high accuracy, efficiency and reduced operational costs. CNC machines optimize raw material usage, minimize wastage and support mass production. Software updates enhance performance, cutting prototype development time. They lower labor costs as one operator can manage multiple machines. The high demand for precision in critical component manufacturing is further driving the lathe machine market growth.

Adopting IoT-enabled the market by enhancing real-time data access and operational efficiency. These machines track energy use, optimize production and save costs. Sensors provide insights for future needs, boosting productivity. IoT advancements enable remote machine monitoring and status updates. Increased focus on human-machine interaction and tool optimization further fuels the lathe machines market share.

Comprehensive Analysis of Lathe Machines Market

The lathe machines market and machinery and equipment industry is rising at an exponential rate due tits market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the machinery and equipment industry. These segmentations are methodically segregated by Product and by Application. The product includes, CNC and Conventional. The application includes, Automotive, General Machinery, Precision Machinery, Transport Machinery and Others.

Asia Pacific leads the lathe machines market, driven by rising demand from China and India. China’s “Made in China 2025” initiative boosts machinery needs for high-end production. Government policies supporting industrialization are accelerating market growth. Expanding manufacturing sectors in developing nations fuel demand. This trend is expected tsustain market growth.

The top players in the market play a crucial role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include, DMG Mori Co., Ltd., Dalian Machine Tool Corporation, Okuma Corporation, Doosan Machine Tools Co., Ltd., Haas Automation, Inc., Hardinge Inc., HMT Machine Tools Ltd., Samsung Machine Tools, Yamazaki Mazak Corporation, Yamazaki Mazak Pvt. Ltd and Ace Micromatic Group. These market players provide a level-playing competitive landscape.

In September 2018, During the open house, Dugard demonstrated the Hanwha brand of sliding head CNC lathes and collaborative robots (Cobots). These machines are specialised for medical electronic, defense, aerospace and automotive industries.

Segmentation Table

Global Lathe Machines Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 5.6% from 2019 t2026

Historical Period 2015-2017

Unit Value (USD Billion)

Segmentation By Product, Application, and Region

By Product

CNC (Computer Numerical Control)

Vertical CNC Lathe machines

Horizontal CNC Lathe machines

Conventional

By Application

Automotive

General Machinery

Precision Engineering

Transport Machinery

Others (Energy, Electrical and others.)

By Region

North America (U.S. and Canada)

Europe (Germany, UK, Russia, Italy, and the Rest of Europe)

Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

Latin America (Brazil, Mexico, and the Rest of Latin America)