A lathe is a tool that rotates any workpiece on its axis to carry out numerous operations such as cutting, deformation or drilling, knurling, and so on with tools applied on that workpiece to create a symmetrical object about an axis of rotation. In short, a lathe machine is used to shape various workpieces. Lathe machines have many applications; lathe machines are used in woodturning, metalworking, metal spinning, glass working, and thermal spraying. The main purpose of a lathe machine is to facilitate unfinished to finished metal product transformation.
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There are different types of lathe machines depending on the material being worked upon. There are three types of lathe machines – engine lathes, special purpose lathes, and turret lathes. Each of these types has its respective characteristics and applications. Engine lathes are the most popular. The best thing about engine lathes is that they can transform different materials other than metal. Turret lathes are used for sequential machining of single workpieces. Sequential machining helps in eliminating errors in the work alignment. With turret lathes, machining is done with better efficiency, reducing errors, increasing speed, and correspondingly reducing working time. Special purpose lathes are used for carrying out special procedures and processes (e.g. heavy-duty production of identical parts), and hence the name special purpose lathes.
The global lathe machines market is expected to flourish over the next decade and is likely to incur massive revenues during the forecast period. This growth can be attributed to an impressive development in the global automotive industry. The rise in demand for new, fuel-efficient, advanced automobiles with enhanced safety features is one of the main reasons for the global automotive boom, which has increased the demand for lathe machines in the automotive industry.
Global Lathe Machines Market: Drivers
The major factor likely to drive the growth of the global lathe machines market is automation. With growing awareness of quality, manufacturers have automated their production processes. The increased need to provide superior products has pushed manufacturers to use advanced automated systems. Integrating the Internet of Things (IoT) in manufacturing (Smart Manufacturing) is one of the new trends in the global lathe machines market that will gain sufficient traction in the coming years. To add to this, manufacturing industries in advanced and developing countries are focussing on replacing manually controlled lathe machines with computer numerical controlled (CNC) lathe machines to enhance industrial productivity and efficiency.
Growing urbanization has fueled market demand in the automotive, general machinery, and transport industries. The growth in these three main sectors has led to an augmented demand for metal machine tools and, are the growth accelerators of the global lathe machines market.
Global Lathe Machines Market: Restraints
One of the key factors likely to inhibit the growth of the global lathe machines market during the forecast period is the relatively high costs associated with deploying lathe machines. Significant U.S import restraints are another aspect likely to affect the growth of the global lathe machines market.
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Global Lathe Machines Market: Key Regions
The Asia Pacific is expected to be the most dominant market in the global lathe machines market and is predicted to be the fast-growing regional market in the coming years. Many initiatives such as “Make in India” along with rising automotive production have made APAC the focal point in global manufacturing, which is the main reason for the fast upsurge of the lathe machines market in this region. The highest growth is expected to be witnessed in India, followed by Japan. After APAC, the European lathe machines market will probably gain speed in the global lathe machines market. Effective measures and initiatives are driving the growth of the lathe machines market in developed regions such as the UK, France, Germany, Italy, and the rest of Europe.
Global Lathe machines market: Key Market Players
The key players in this market strive to remain competitive by focusing on collaborations, new product developments (NPD), and partnerships. Some of the key players operating in the global lathe machines market include Dalian Machine Tool Group Corporation, DMG Mori Co., JTEJT Corporation, Yamazaki Mazak Corporation, HMT Machine Tools, Samsung Machine Tools, Haas Automation, Okuma Corporation, Ace Micromatic, and Benzinger.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types, and applications.
Lathe Machines Market Key Segmentation
The global lathe machines market is segmented based on type, by operation, end-use industries, and geography.
By Type:
Vertical lathes, Horizontal lathes
By Operation:
Conventional lathes, CNC lathes
By End-user:
- Automotive, General manufacturing, Transportation, Others.
By Geography:
North America – U.S., Canada, Mexico.
Europe – UK, Germany, France, Italy, Rest of Europe
Asia-Pacific – China, Australia, Japan, India, Rest of Asia-Pacific
LAMEA – Middle East, Latin America, Africa
Key Players
Dalian Machine Tool Corporation, DMG Mori Co., Ltd, Doosan Machine Tools, Haas Automotive Inc., Hardinge, Inc., HMT Machine Tools, JTEKT Corporation, Okuma Corporation, Samsung Machine Tools, Yamazaki Mazak Corporation.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC, S. Africa, N. Africa)
This report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Lathe Machines Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint