"Catapult Your Business to Fore, Gain Competitive Advantage "

Lathe Machines Market Size, Share & Industry Analysis, By Product (CNC, Conventional), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2019-2026

Region : Global | Published Date: Dec, 2019 | Report ID: FBI101804

 

KEY INDUSTRY INSIGHTS

Play Audio Listen to this report overview

Lathe machines play a significant role in the metal-working sector. Lathe machines have widespread applications including facing, sanding, knurling, cutting, and drilling. Furthermore, the increasing popularity of CNC (Computer Numerical Control) lathes is resulting in rise of lathe machines market revenue. This is attributed to the increasing number of automation industries. To improve the productivity and product quality, the manufacturing sector is continuously shifting towards automatic lathes. Manufacturers are more inclined towards flexible activity and thus are readily adopting technologically advanced lathes.


Get comprehensive study about this report by, request a free sample copy


Adoption of IoT- enabled machine is one of the emerging lathe machine market trends. The increasing adoption and utilization of real-time information access is giving rise to the IoT enabled devices. Surge in demand for time, cost and energy efficiency is resulting in the growth of IoT enabled lathe machines market. The IoT enabled machines can track energy consumption and provide greater visibility on optimization of production schedules and save energy. To better understand the manufacturing equipment’s operation, they are fitted with sensors and the data thus obtained is stored and analyzed for future needs. Furthermore, the advent in technologies such as IoT has resulted in the development of new machine features such as an application that monitors the machine, and timely notifies its's status to operators over computers and mobile phones. The manufacturing sector is focusing on the optimum tool utilization through real-time feed input, which is likely to drive the IoT enabled lathe machines market demand. The increasing need for human-machine interaction is further expected to drive the demand for IoT enabled manufacturing devices.


KEY MARKET DRIVERS


“CNC Lathe Machine is Expected to Propel the Market Revenue Owing to the Benefits such as High Accuracy and Reduced Operational Cost”


The increasing demand for CNC lathes is expected to boost the lathe machine market growth. This is attributed to the various benefits including increased production, high speed, increased safety, high efficiency and accuracy, and reduced production cost. The high operating accuracy of CNC machines results in optimum raw material usage and reduced wastage. Besides, the increasing demand for mass production in reduced time frame is resulting in greater adoption of CNC lathe machines. Additionally, CNC machines can be updated by enhancements in the existing software that is used to drive the machines. It also reduces the time taken to build a prototype as the design can be directly developed. This is expected to result in cost and time efficiency in terms of product manufacturing. Furthermore, the CNC machines have significantly reduced the labor cost in manufacturing industry since an operator can supervise many CNC machines at once. The increasing demand from the critical component product manufacturing is expected to drive the CNC lathe machines market owing to the high accuracy offered by it.


 “Increasing Inclination Towards Industry 4.0 Owing to the Predictive Maintenance Feature Is Driving Market”


The increasing adoption of Industry 4.0 solutions is promoting the smart factories. The increasing demand for real-time connectivity is resulting in the growth of smart machines. This is attributed to the rising demand for high efficiency, productivity, reliability, and reduced waste generation.  Industry 4.0 offers opportunities to optimize operations by projecting the area needing quick attention. The need to significantly reduce the downtime and repair cost is resulting in popularity of predictive and preventive maintenance in the manufacturing industry. The planning of maintenance schedule based on the real-time data helps to understand the exact need of the machine and helps save the hefty downtime and repair cost. Thus, predictive maintenance helps to improve decision making, significantly reducing the repair time.  According to multiple sources, predictive maintenance avoids machine failures reducing downtime by approximately 50%. Furthermore, the Total Quality Management (TQM) is further driving the predictive maintenance as it focuses on the machines capability of meeting accuracy requirements, which ultimately reduces the need for final inspection.


SEGMENTATION


By Product Analysis


“CNC Holds the Major Market Share and Is Expected to Remain Dominant, Owing to Increasing Automation in Manufacturing Sector”


Based on product, the market is segmented into CNC (Computerized Numerical Control) and Conventional. The increasing need for high flexibility and on demand manufacturing is expected to drive the automation in the manufacturing industry. The need for customized mass production in manufacturing is resulting in high speed and quality production which is further expected to boost the CNC lathe machines market. Furthermore, additive manufacturing is likely to result in the increasing adoption of CNC lathe machines. The increasing use of 3D printing in varied applications such as aerospace, defense, and automotive industry is expected to drive the market. The CNC horizontal lathe machines have major market share and are expected to remain the same over the period of time as a result of increasing demand from the automotive sector. The automotive industry has widespread application of lathes including camshafts, gearboxes, CV joints, and crankshafts. Thus, manufacturers are focusing on developing lathes that can perform multiple operations to develop a complex product.  For instance, the Lunan 400MF multi-function CNC lathe developed by Dugard offers high rigidity and low cost of manufacturing per piece. Furthermore, the increasing demand for precision and quality in turning, grinding and measuring operations is expected to result in the growth of CNC lathe machines market. The vertical CNC lathes are used for machining and boring of conical, cylindrical and contoured surfaces, which are further expected to contribute to the lathe machines market growth.  However, the conventional lathe machine segment is expected to witness stable growth as a result of lack of skilled labor. 


By Application Analysis


Based on application, the market is divided into automotive, general machinery, precision engineering, transport machinery, and others.


Batch production in the automotive industry needs the bulk production of similar products at regular intervals. This, results in rise in demand for CNC lathes. The automotive industry requires various parts for production including the engine cylinder heads, gear boxes manufactured using lathe machines and is likely to result in the growth of market. Furthermore, the increasing demand for disk brakes is further expected to drive this market in the near future. The growth is attributed to the advantages provided by the disk brakes including their great stopping power, prevents damage to rim, and precise breaking with less chances of wheel lockup.


To get details on market share, speak to analyst


The rise in demand for machineries from various industries including food processing, construction and packaging is driving the general machinery segment. Besides this, the increasing demand for complex part manufacturing from aerospace and military sectors is expected to drive the precision machinery segment over the forecast period. The increase in global trade is resulting in the growth of transportation machinery and in turn is anticipated to earn high lathe machines market share.


REGIONAL ANALYSIS


Geographically, the scope of the study is segmented across five major regions, such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, which are further categorized into countries.


Asia Pacific Lathe Machines Market Size, 2018 (USD Billion)

To get geographical overview of this market, request a free sample copy


Asia Pacific holds the major lathe machines market share owing to the increasing demand from developing nations such as China and India. The Chinese government initiatives such as “Made in China 2025” focusing on becoming high end producer of goods is expected to result in the increased demand for machinery and equipment. Thus, the government initiatives favoring industrialization is expected to result in the lathe machines market growth in the near future.


The growing demand for prefabricated metal industry is also expected to earn high revenue across North America and Latin America. The increasing popularity of CNC lathe machines is further expected to drive the lathe machines market in Europe.


INDUSTRY KEY PLAYERS


“Leading Players Are Focusing on Development of CNC Lathes “


Manufacturers are focusing on increasing their product portfolio and their geographical reach so as to cater their customers in a better way. The increasing adoption of Industry 4.0 has resulted in increasing penetration of smart machines. The key players are thus focusing on development of multitask lathes such as 5-axis multitask lathes.


List of Key Companies Profiled:



REPORT COVERAGE


To get information on various segments, share your queries with us


The report presents a comprehensive assessment of the global lathe machines market analysis by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per market segments, helping our readers to get a comprehensive overview of the global lathe machines market. 


Report Scope and Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Product



  • CNC (Computer Numerical Control)

    • Vertical CNC Lathe machines

    • Horizontal CNC Lathe machines



  • Conventional



By Application



  • Automotive

  • General Machinery

  • Precision Engineering

  • Transport Machinery

  • Others (Energy, Electrical and others.)



By Region



  • North America (U.S. and Canada)

  • Europe (Germany, UK, Russia, Italy, and the Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)



INDUSTRY DEVELOPMENT:



  • September 2018: Dugard launched the Hanwha sliding head CNC lathes and collaborative robots (Cobots) at the Dugard open house. These machines are focused on medical, electronic, defense, aerospace and automotive industries.

  • October 2018:  Ace Micromatic Group (AMG) built its state-of-the-art tech centre in Shanghai, China to cater to the demand of Chinese customers. AMG’s product such as CNC lathes, grinding machines and machining centers were installed in more than 60 cities in China.



 


Frequently Asked Questions

As per our (Fortune Business Insights) study, the global lathe machines market was valued at USD 25.01 billion in 2018 as a result of increasing demand from various industries such as aerospace, precision machinery and food processing.

In 2026, the global lathe machines market is expected to reach USD 40.22 billion in the future.

The lathe machines market is projected to grow at a CAGR of 6.0% during the forecast period (2019-2026).

The precision machinery segment is expected to lead the lathe machines market during the forecast period owing to the increase in demand from the critical product mass manufacturing

The increasing demand for CNC lathe machines will drive the lathe machines market. In addition, the increasing adoption of industry 4.0 is also resulting in the growth of lathe machines market.

Doosan Machine Tools Co., Ltd., DMG Mori Co., Ltd., Dalian Machine Tool Corporation, and Okuma Corporation are among the few key players in the global lathe machines market.

Asia Pacific is expected to be the fastest-growing region in the lathe machines market owing to the increasing demand from the industries, such as aerospace automotive, and food processing sectors. Furthermore, government initiatives such as ‘Made in China 2025’ by the Chinese government is resulting in the lathe machines market growth.

The adoption of IoT enabled devices for greater connectivity and operational efficiency is the emerging trend in the lathe machines market.

The automotive application segment holds the major market share of lathe machines market. This is attributed to the growing incorporation of automated concepts in the automotive industry.

Based on segmentation by product, the CNC segment is estimated to hold the major share of the lathe machines market and is expected to remain the same over the forecast period. This is owing to the increasing adoption of advanced technology in machinery and equipment.

Lathe Machines Market Size, Share and Global Industry Trend Forecast till 2026
  • PDF
  • 2018
  • 2015-2017
  • 120

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X