Lathe Machines Market Report by Type (Vertical Lathes, Horizontal Lathes), Operation (Conventional Lathes, CNC Lathes), Capacity (Heavy Duty, Medium Duty, Low Duty), End User (Automotive, General Manufacturing, Transportation, and Others), and Region 2024-2032
The global lathe machines market size reached US$ 25.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032.
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 2024-2032. 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 2023?
2. What is the expected growth rate of the global lathe machines market during 2024-2032?
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?