The lathe machines market size is projected to be worth USD 40.22 billion by 2026, from USD 25.01 billion as in 2018. The forecast period is set from 2019 to 2026, and the market is anticipated to exhibit a CAGR of 6.0%. A recent report by Fortune Business Insights titled, “Lathe Machines Market Size, Share & Industry Analysis, By Product (CNC, Conventional), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecasts, 2019-2026,” discusses the market and its trajectories in details. As per current market trends, the automotive segment is leading in terms of application with 43.0% market share.
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Some of the significant lathe machines market manufacturers are listed below:
- Yamazaki Mazak Pvt. Ltd
- Samsung Machine Tools
- Hardinge Inc.
- Doosan Machine Tools Co., Ltd.
- Dalian Machine Tool Corporation
- Ace Micromatic Group
- Yamazaki Mazak Corporation
- HMT Machine Tools Ltd.
- Haas Automation, Inc.
- Okuma Corporation
- DMG Mori Co., Ltd.
The report on lathe machines market contains the following:
- 360-degree overview of the lathe machines market and major key drivers and restraints.
- Important segments in which the market is categorized and the contribution of every segment to the overall market revenue.
- Interesting insights into the market in the form of recent innovations, developments, and market trends.
- Names of players enlisted in the market and their key strategies such as company collaborations, product launches, mergers and acquisitions, and others.
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Advent of Internet of Things to Promote Market Growth
The advent of technological advancements is a major factor augmenting the lathe machines market growth. The rise in adoption and utilization of real-time information access is promoting the use of Internet of Things or IoT-enabled devices. This is because IoT devices provide cost and energy efficiency and are capable of tracking the energy consumed, thus providing greater visibility on product schedule optimization and saving energy. Thus, the surge in demand for human-machine interaction is also projected to promote the use of IoT-enabled devices.
In addition to that, the rise in need for CNC lathes is also boosting the market growth. The high operating accuracy that CNC machines provide results in reduced wastage and the use of optimum raw materials, thus anticipated to accelerate the lathe machines market share. Furthermore, the rise in demand for critical component product manufacturing and the high accuracy provided by it is further prognosticated to help increase the lathe machines market size in the forecast period.
Increasing Adoption of Machinery and Equipment to Help Dominate Market in Asia Pacific
The lathe machines market is geographically categorized into Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa. Among these, Asia Pacific dominated the market, on account of the rising adoption of Industry 4.0 trend. In 2018, Asia Pacific held a lathe machines market size of USD 12.64 billion. In addition, there is a rise in demand for machinery and equipment especially from developing nations such as China and India. The Chinese government is promoting industrialization by taking initiatives such as “Made in China 2025,” under which they are aiming at becoming the high-end producer of goods in terms of machinery and equipment. Such initiatives are expected to help the regional market continue its dominance in the forthcoming years as well.
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Geographical Expansion of Companies will Prove Beneficial for Market Players
Lathe machines market manufacturers are emphasizing on expanding their geographical presence and increasing their product portfolio worldwide. This will help to cater to the needs of customers worldwide and generate huge lathe machines market revenue in the forecast duration. Furthermore, the development of 5-axis multitasks lathes, and other multitask lathes will further propel the lathe machines market growth in the years to come.
Key Industry Developments
Some of the key industry developments in the lathe machines market include:
September 2018 – The Hanwha sliding head CNC lathes and collaborative robots (Cobots) was launched by Dugard at the Dugard open house. The company aimed to be at the top of CNC automatic lathe manufacturers and invented the Cobots for application in various sectors such as defense, automotive, electronics, medical, and aerospace.
October 2018 – For catering to the demand of the Chinese customers, a state-of-the-art technological center was built in Shanghai, China, by Ace Micromatic Group (AMG). The product of this company such as grinding machines, machining centers, and CNC lathes, were installed in about more than 60 cities all over China.
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Table of Content
5. Global Lathe Machines Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Sizing Estimations and Forecasts – By Product (Value)
5.2.1.CNC (Computerized numerical control)
18.104.22.168.Vertical CNC Lathe machines
22.214.171.124. Horizontal CNC Lathe machines
5.3.Market Sizing Estimations and Forecasts – By Application (Value)
5.4.Market Analysis, Insights and Forecast – By Region (Value)
5.4.4.Middle East & Africa
6. North America Lathe Machines Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Sizing Estimations and Forecasts – By Product (Value)
6.2.1.CNC (Computerized numerical control)
126.96.36.199.Vertical CNC Lathe machines
188.8.131.52.Horizontal CNC Lathe machines
6.3.Market Sizing Estimations and Forecasts – By Application (Value)
6.4.Market Analysis, Insights and Forecast – By Country (Value)
7. Europe Lathe Machines Market Analysis, Insights and Forecast, 2015-2026
7.1.Key Findings / Summary
7.2.Market Sizing Estimations and Forecasts – By Product (Value)
7.2.1.CNC (Computerized numerical control)
184.108.40.206.Vertical CNC Lathe machines
220.127.116.11.Horizontal CNC Lathe machines
7.3.Market Sizing Estimations and Forecasts – By Application (Value)
7.4.Market Analysis, Insights and Forecast – By Country (Value)
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