LATHE MACHINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In September 2023, Star Micronics Co. Ltd, a leading manufacturer of machine tools and precision parts, announced the development of SP-20/23, a CNC Swiss-type automatic lathe capable of supporting parts machining in various industries, including automobiles, hydraulic/pneumatic equipment, and general machinery.
• In December 2022, the Tata Group, a global enterprise with a mission to improve the quality of life of the communities it serves globally through long-term stakeholder value creation based on Leadership with Trust, unveiled a five-year investment plan of US$ 90 billion in semiconductors. This goal involves expanding into sophisticated chip fabrication and fabs in the next years, which is projected to increase demand for lathe machines in the semiconductor industry.