Lathe Machines Market Report 2024 - Lathe Machines Market Size And Trends

 What is the present valuation and projected CAGR of the lathe machines market?

The lathe machines market size has grown steadily in recent years. It will grow from $11.93 billion in 2024 to $12.25 billion in 2025 at a compound annual growth rate (CAGR) of 2.6%. The growth in the historic period can be attributed to industrialization and manufacturing growth, expanding automotive industry, aerospace and defense sector demand, general machinery production, repair and maintenance needs.

The lathe machines market size is expected to see steady growth in the next few years. It will grow to $13.97 billion in 2029 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to global manufacturing resilience, renewable energy sector growth, expansion of medical device manufacturing, global infrastructure development. Major trends in the forecast period include automation and robotics integration, customization and tailoring to specific industry needs, focus on user-friendly human-machine interfaces (HMIS), emphasis on predictive maintenance technologies.



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What are the top drivers to the rising demand in the lathe machines market?

The increasing demand for automobiles is expected to propel the growth of the lathe machine market going forward. An automobile is a four-wheeled, mostly passenger-focused vehicle typically powered by an internal combustion engine that burns flammable fuel. Lathe machines manufacture automobile components and repair damaged car parts by turning down or removing defective areas with precision. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Europe-based advocate for the automobile industry, global motor vehicle production increased by 5.7% to 85.4 million in 2022 from 80.14 million in 2021. Further, the number of new commercial vehicle registrations in the European Union increased by 7.7% from 329,984 vans in 2022 to 355,553 vans in 2023. Therefore, the increasing demand for automobiles is driving the lathe machine market.

How is the lathe machines market segmented?
The lathe machines market covered in this report is segmented –

1) By Type: Vertical Lathes, Horizontal Lathes
2) By Operation: Conventional Lathes, CNC Lathes
3) By Capacity: Heavy Duty, Medium Duty, Low Duty
4) By End User Industry: Automotive, General Manufacturing, Transportation, Other End User Industries

Subsegments:
1) By Vertical Lathes: CNC Vertical Lathes, Manual Vertical Lathes
2) By Horizontal Lathes: CNC Horizontal Lathes, Manual Horizontal Lathes, Multi-Tasking Horizontal Lathes

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Who are the top competitors in the lathe machines market?

Major companies operating in the lathe machines market report are Doosan Machine Tools Co. Ltd., JTEKT Corporation, EMCO Corporation, DMG Mori Co. Ltd., Yamazaki Mazak Corporation, Bolton Group, Okuma Corporation, Smec Co. Ltd., Haas Automation Inc., Hardinge Inc., Hurco Companies Inc., Ellison Technologies Inc., Hasegawa Machine Works Ltd., HMT Limited, Batliboi Ltd., Clausing Industrial Inc., Milltronics USA Inc., Goodway Machine Corporation, Fadal Engineering Inc., Chiah Chyun Machinery Co. Ltd., Intelitek Inc., Dalian Machine Tool Group Corporation, Fryer Machine Systems Inc., Fair Friend Group, Ajax Machine Tools International Ltd., American Machine Tools Corporation, Carl Benzinger GmbH, Ace Micromatic Group, Citizen Machinery Co. Ltd., Strojimport A.S.

What significant trends should we anticipate in the lathe machines market over the forecast period?

Major companies operating in the lathe machine market are focused on developing innovative products, such as automated lathes, to strengthen their position in the market. An automatic lathe is a lathe with an automatically controlled cutting process controlled by computer numerical control systems to be programmed to perform various complex machining operations. For instance, In September 2023, Star Micronics Co. Ltd., a Japan-based manufacturer of electronic components and printers, introduced its new SP-20/23 CNC Swiss-type automatic lathe. This high-precision, computer-controlled machine is designed to produce small, intricate parts and addresses the growing demand for advanced machining solutions across industries such as automotive, hydraulics, pneumatics, and general machinery. The SP-20/23 offers enhanced versatility, incorporates advanced features like thermal displacement correction, and includes an energy-efficient ECO mode, making it ideal for high-precision component production. Its launch reflects the industry's ongoing shift towards automation and smart manufacturing.

Which regional trends are influencing the lathe machines market, and which area dominates the industry?

Asia-Pacific was the largest region in the lathe machines market in 2024. The regions covered in the lathe machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Does The Lathe Machines Market Report 2025 Offer?

The lathe machines market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

A lathe machine is a type of machine that rotates a workpiece along an axis of rotation to carry out a variety of operations, including cutting, sanding, drilling, deformation, facing, and turning, using tools used to manufacture symmetrical objects. They are used to shape wooden or metallic products. The lathe machine removes the undesired material from a rotating workpiece in the form of chips with the help of a tool that is traversed across the work and can be fed deep into the work.

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