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

Regional Analysis

To learn more about this report, request sample copy

North America has established itself as the dominant regional market for lathe machines. The region is estimated to account for 40.6% of the market share in 2024. With a robust manufacturing sector concentrated in countries like the U.S. and Canada, the region accounts for the largest number of metalworking companies globally. This extensive industrial base has created consistent demand for CNC and conventional lathe machines over the years.

The presence of leading machine tool manufacturers such as Hardinge, Index, and Southwestern Industries has further strengthened the regional lathe industry's supply chain. These companies have huge manufacturing plants and distribution networks within North America allowing for easy access to products. Additionally, associations like the AMT - The Association for Manufacturing Technology collaborate closely with metalworking businesses to understand market needs and help domestic manufacturers.

Meanwhile, Asia Pacific has emerged as the fastest growing regional market for lathe machines. Countries like China, India, and Vietnam have witnessed tremendous growth in their engineering and automotive industries which use lathe machines extensively. While China dominates global machine tool exports, other developing nations are also establishing domestic manufacturing bases. Their lower production costs have made Asia Pacific an attractive sourcing destination for machine tools globally.

The availability of relatively cheaper labor and raw materials in Asia Pacific provides local lathe manufacturers a competitive edge over global peers. This has helped Chinese brands such as RIFA, Dalian, and Leader gain international recognition. Rising export orders from developed markets and strong intra-regional trade have further propelled the Asia Pacific lathe industry. Governments of various nations are also introducing supportive policies and infrastructure developments to strengthen their domestic machine tool sectors.