Lathe Machines Global Market Report 2024

A lathe machine is a versatile machining tool that revolves a workpiece around an axis, allowing for operations such as cutting, sanding, drilling, and turning. This machine is instrumental in shaping both wooden and metallic products, removing excess material to achieve the desired form. The process involves the use of a tool that moves across and penetrates the workpiece, generating chips as it interacts with the rotating material.

The two primary types of lathe machines are vertical lathes and horizontal lathes. Vertical lathes position the spindle in a fixed vertical plane. Operations can be conventional or controlled by CNC (Computer Numerical Control), and the machines come in various capacities, such as heavy duty, medium duty, and low duty. Industries utilizing lathe machines include automotive, general manufacturing, transportation, and others.

The lathe machines market research report is one of a series of new reports from The Business Research Company that provides lathe machines market statistics, including lathe machines industry global market size, regional shares, competitors with a lathe machines market share, detailed lathe machines market segments, market trends and opportunities, and any further data you may need to thrive in the lathe machines industry. This lathe machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The lathe machines market size has grown steadily in recent years. It will grow from $11.53 billion in 2023 to $11.93 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The historical growth of lathe machines can be attributed to the rise of industrialization and manufacturing, the expansion of the automotive industry, increased demand from the aerospace and defense sectors, general machinery production, and the need for repair and maintenance services.

The lathe machines market size is expected to see steady growth in the next few years. It will grow to $13.41 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The forecasted growth of lathe machines can be attributed to factors such as global manufacturing resilience, the growth of the renewable energy sector, expansion in medical device manufacturing, and global infrastructure development. Key trends in the forecast period include the integration of automation and robotics, customization to meet specific industry needs, a focus on user-friendly human-machine interfaces (HMIs), and an emphasis on predictive maintenance technologies.

The anticipated growth in the lathe machine market is driven by the escalating demand for automobiles. Automobiles, primarily four-wheeled vehicles predominantly designed for passenger transportation and powered by internal combustion engines, rely on lathe machines for the production of their components and the precision repair of damaged parts. Notably, as reported by the European Automobile Manufacturers Association in May 2023, global motor vehicle production surged by 5.7% from 80.14 million in 2021 to 85.4 million in 2022. Additionally, new commercial vehicle registrations within the European Union experienced a notable increase of 7.7%, rising from 329,984 vans in 2022 to 355,553 vans in 2023. This burgeoning demand for automobiles serves as a pivotal driver propelling the expansion of the lathe machine market.

The growth trajectory of the lathe machine market is expected to be influenced by the burgeoning utilization of robotic devices. Robotic devices, programmable machines capable of task execution without human intervention, are poised to enhance manufacturing processes by integrating lathe machines. These machines within robotic frameworks automate various tasks, including loading, unloading, and machining operations, resulting in heightened efficiency, productivity, and cost-effectiveness. Lathe machines integrated into robotic systems facilitate activities such as deburring, cleaning, and inspection. For example, data from the International Federation of Robotics in June 2022 revealed a substantial rise in industrial robot shipments globally in 2021. Europe witnessed a 27% increase with 48.68k units, the US saw a 27% surge with 4.9k units, and Asia experienced a 33% increase with 3.54k units shipped in 2021 compared to 2020 figures. This upsurge in the adoption of robotic devices signifies a pivotal catalyst in driving the growth of the lathe machines market in the foreseeable future.

The growth prospects of the lathe machine market face significant implications due to the presence of alternative machining technologies offering capabilities akin to lathe machines. These alternative technologies, encompassing metal laser melting, specialized machining processes such as electrical discharge milling, and others, present comparable functionalities to traditional lathe machines. As highlighted by Thomasnet in May 2023, milling machines, grinding machines, and other alternatives offer capabilities akin to lathe machines, thereby posing a challenge to the growth trajectory of the lathe machine market.

Key players within the lathe machine market are dedicated to pioneering innovative products, exemplified by the development of automated lathes, to fortify their market standing. Automated lathes, controlled by computer numerical control systems, offer an automated cutting process capable of executing various complex machining operations. For instance, in September 2021, Star Micronics Co Ltd. introduced the SL Series Swiss-type automated lathes-SL-7 and SL-10-tailored to address the intricate machining requirements prevalent in data and communication, automobile, and medical sectors. These models enhance Star's multi-processing capabilities, handling material sizes as small as 7mm and 10mm for the SL-7 and SL-10, respectively. Their improved back-working multi-processing capacity minimizes cycle time through efficient process division, accentuating high efficiency, productivity, accuracy, operability, and usability.

In August 2021, Nidec Corporation completed the acquisition of Mitsubishi Heavy Industries Machine Tool Co. Ltd., an undisclosed transaction aimed at synergizing both companies' existing business landscapes. This acquisition strategically aligns with Nidec's objectives, enabling them to expand their machine tool business by leveraging Mitsubishi Heavy Industries Machine Tool's technology. The integration of Mitsubishi Heavy Industries Machine Tool's expertise is poised to enhance Nidec's capabilities in the machine tool sector, reinforcing their position in the market. Mitsubishi Heavy Industries Machine Tool Co. Ltd., known for manufacturing and developing machine tools and lathe machines, adds substantial value to Nidec's aspirations for growth and technological advancement in the industry.

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.

Asia-Pacific was the largest region in the lathe machines market in 2023. The regions covered in the lathe machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the lathe machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The lathe machine market consists of the sale of speed lathes, capstan lathes, tool room lathes, bench lathes, and gap bed lathes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Lathe Machines Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on lathe machines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for lathe machines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lathe machines market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Doosan Machine Tools Co. Ltd.; JTEKT Corporation; EMCO Corporation; DMG Mori Co. Ltd.; Yamazaki Mazak Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.