LATHE MACHINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global lathe machine market has been witnessing steady growth over the past couple of decades. Lathe machines are versatile metal-cutting machines essential for various manufacturing industries such as automotive, electronics, aerospace and defense amongst others. They are used for turning, revolving or rotating workpieces to cut them to precise dimensions and desired shapes. Technological advancements in machine tools have resulted in development of computer numerical control (CNC) lathes with features such as automatic tool changers, programmable logic controllers and computer-aided manufacturing (CAM) interfaces. This has improved productivity and enabled mass production with high precision. Moreover, factors such as rapid industrialization, growing automotive industry and adoption of advanced manufacturing technologies are expected to drive the demand for lathe machines globally during the forecast period.
Market Dynamics:
The global lathe machine market growth is driven by growing demand from end-use industries, rising automation in manufacturing and technological advancements. Rapid industrialization in developing nations has boosted manufacturing activities. This has increased the demand for metal cutting machines for automotive, precision engineering and other metal-based components manufacturing. Moreover, increasing automation in manufacturing processes has propelled the adoption of CNC lathes over conventional lathes for higher productivity and precision. Manufacturers are also developing advanced lathes with features such as integrated IoT connectivity and multi-tasking capability. However, high initial investments for advanced lathes and availability of substitutes such as machining centers are some of the factors hindering the market growth. Going forward, emerging applications of lathes in micro manufacturing and adoption of 3D printing technology are expected to provide several lucrative growth opportunities for market players.
Key features of the study:
- This report provides in-depth analysis of the global lathe machine market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global lathe machine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Dalian Machine Tool Corporation, DMG Mori Co., Ltd., Doosan Machine Tools, EMAG Group, Haas Automation Inc., Hardinge, Inc., HMT Machine Tools, INDEX and TRAUB, JTEKT Corporation, Okuma Corporation, Samsung Machine Tools, Shaanxi Qinchuan Machine Tool and Tool Group, Tsugami Corporation, and Yamazaki Mazak Corporation
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global lathe machine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global lathe machine market.
Detailed Segmentation:
Table of Contents
*Browse 60 market data tables and 40 figures on "Global Lathe Machine Market - Global forecast to 2031”
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