Lathe Machines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Lathe Machines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global lathe machines market size reached US$ 24.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

Lathe machines are used to shape metal, wood and other materials into desired shapes and sizes. These machines operate on the rotating workpiece principle and utilize fixed cutting tools that help in facing, centering, chamfering, knurling, drilling, boring, reaming, tapping, thread cutting and parting off. They comprise leg, bed, chuck, apron, headstock, tailstock, carriage, saddle, cross-slide, compound rest, tool post, lead screw, feed rod and main spindle. At present, they find extensive applications in woodturning, metal spinning, thermal spraying, glass working and parts reclamation.

Lathe Machines Market Trends:

The growing trend of industrial automation and precision manufacturing represents one of the major factors bolstering the market growth as lathe machines enhance product uniformity and improve the value chain. Moreover, lathe machines are gaining traction in manufacturing various medical implants and equipment on account of their high speed, accuracy and reduced operating costs. Apart from this, the escalating demand for fuel-efficient automobiles with advanced safety features is promoting the adoption of lathe machines for forming different parts of vehicles. Due to the availability of technical expertise, cheap labor and low raw material costs, several foreign firms are setting up their manufacturing facilities in emerging countries like China and India. This is creating lucrative opportunities for manufacturers to expand their consumer base and maintain a competitive edge. Furthermore, the emergence of the Fourth Industry Revolution (Industry 4.0) is encouraging the integration of the Internet of Things (IoT) in lathe machines, which is anticipated to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global lathe machines market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, operation, capacity and end user.

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

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global lathe machines market in 2022?

2. What is the expected growth rate of the global lathe machines market during 2023-2028?

3. What are the key factors driving the global lathe machines market?

4. What has been the impact of COVID-19 on the global lathe machines market?

5. What is the breakup of the global lathe machines market based on the type?

6. What is the breakup of the global lathe machines market based on the operation?

7. What is the breakup of the global lathe machines market based on the capacity?

8. What is the breakup of the global lathe machines market based on the end user?

9. What are the key regions in the global lathe machines market?

10. Who are the key players/companies in the global lathe machines market?