Lathe Machines Market Overview:
Global lathe machines market size was valued at $9,925 million in 2015. The lathe machines market is projected to grow at a CAGR of 2.6% and is forecast to reach $12,012 million by 2022. The global lathe machines market is largely driven by the growing automotive production demand, high demanding end-user industries, growing dominance of CNC lathes, and increasing need for smart and sustainable manufacturing. However, the market growth for lathe machines is restrained by factors such as the slowdown in Chinas economic growth and uncertainty in the global manufacturing sector.
Lathe is a machine tool that is principally used for shaping articles of metal, wood, or other materials. Lathe machines are one of the most important machine tools used in the metal working industry. Lathes are considered as powerful metal shaping machine tools. They can transform the unfinished metal sheet into a variety of finished metal products, precise machine components, automotive spares and body parts, and much more. Lathe machines include metal cutting tools that cut the metal sheets into required sizes and engrave desired designs in order to create customized shapes by shaving off the unwanted metal from the surface.
The global lathe machines market is segmented based on type, operation, end-user industries, and geography. Based on type, the lathes are classified into vertical and horizontal lathes. By mode of operation, the lathe machines industry is segmented into conventional or manually operated type and CNC lathes. CNC lathes accounted for a dominant share in 2015 and are expected to maintain their position over the forecast period. CNC lathes help the end-user industries to meet the requirements of high production rates, uniformity, and consistent part quality.
The global lathe machines market based on end-user industries is categorized into automotive, general manufacturing, transportation, and others. The automotive industry accounted for a larger share of the market in 2015 and is projected to grow at a CAGR of 6.3% over the forecast period. The growth of the lathe machines market in the automotive industry is driven by the growing automotive production demand and the requirement of complex CNC machines due to toughness of materials, complex geometries, and tight tolerances that are required for manufacturing automotive parts.
Geographically, the lathe machines market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Australia, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). The Asia-Pacific region generated the maximum revenue, and is estimated to grow at a CAGR of 3.2%, followed by Europe. The emergence of Asian countries as global economic powers and their increasing interest in developing their local manufacturing base has fueled the market for machine tools such as lathes in the region.
Global Lathe Machines Market Segmentation
Top Investment Pockets for Global Lathe Machines Market
The top investment pockets for the global lathe machines market is analyzed across the regions of North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the most dominant region for lathe machines market accounting for $4,345 million in 2015. The Asia-Pacific market is the engine of the global economic demand. Although the external demand for the region remains sluggish, the growth is being supported by the increasing domestic demand. China and Japan are the two most dominant markets for lathe machines in the Asia-Pacific region. The demand for lathe machines in China is expected to remain moderate over the forecast period as the economy in the country continues its rebalancing of shifting away from manufacturing and investment to services and consumption. The highest growth from Asia-Pacific is being witnessed in India supported by the governments initiative to promote India as the worlds most preferred hub for manufacturing. The Indian government launched the Make in India program which plans to place India on the world map as a manufacturing hub and provide momentum to the Indian economy.
Europe is the second most dominant market for lathe machines globally. Europes machine tool industry is one of the most globally competitive sectors and generates more than one third of the world machine tool production and half of the worlds exports. Over the past few years, Europes position has been severally challenged by the emergence of low cost Asian countries. However, the lathe machines market growth in Europe is being supported by the economic recovery in Europe and growing demand for automotive and aerospace production.
- This study provides an in-depth analysis of the global lathe machines market along with current trends and future estimations to identify the potential investment pockets for stakeholders.
- It presents information regarding key drivers, restraints, and opportunities along with their impact analysis.
- Porters Five Forces analytical model illustrates the competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, strength of the buyers, and strength of the suppliers.
- Quantitative analysis of the current market and estimations from 2014 to 2022 is provided to highlight the financial competency of the market.
Lathe Machines Market Key Segmentation
The global lathe machines market is segmented on the basis of type, by operation, end-use industries, and geography.
- Vertical lathes
- Horizontal lathes
- Conventional lathes
- CNC lathes
- General manufacturing
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Middle East
- Latin America
- 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