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Top Factor Driving Lathe Machines Market Growth in 2025: Automobile Industry Growth Fuels Surge In Lathe Machine Market
Lathe Machines Market Size
The lathe machines market will grow from $11.93 billion in 2024 to $12.25 billion in 2025, at a CAGR of 2.6%. This growth is attributed to industrialization and manufacturing expansion, increased demand from the automotive, aerospace, and defense sectors, and needs in machinery production, repair, and maintenance.
The lathe machines market will grow to $13.97 billion by 2029, supported by global manufacturing resilience, renewable energy growth, and medical device manufacturing. Trends will include automation, robotics, predictive maintenance, and tailored solutions for specific industries.
What Are the Primary Growth Drivers for the Lathe Machines Market?
The increasing demand for automobiles is expected to propel the growth of the lathe machine market. Lathe machines are used to manufacture and repair automobile components. As global motor vehicle production increases, so does the demand for precision machinery like lathes. For example, the European Automobile Manufacturers Association reported a 5.7% increase in global motor vehicle production in 2022, signaling a rise in demand for lathe machines.
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Who Are the Dominant Companies Influencing Lathe Machines Market Trends?
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.
What Are the Major Trends Shaping the Lathe Machines Market?
Key companies in the lathe machine market are emphasizing the development of advanced products like automated lathes to reinforce their market position. An automatic lathe is a lathe with a computer numerical control system that automates the cutting process, enabling the execution of intricate machining operations. For example, in September 2023, Star Micronics Co. Ltd., a Japan-based manufacturer of electronic components and printers, launched the SP-20/23 CNC Swiss-type automatic lathe. This high-precision machine is designed to produce small, intricate components, catering to the rising demand for advanced machining solutions across industries like automotive, hydraulics, pneumatics, and general machinery. The SP-20/23 offers enhanced versatility, includes cutting-edge features like thermal displacement correction, and integrates an energy-efficient ECO mode, making it ideal for high-precision manufacturing. Its introduction highlights the industry's transition toward automation and smart manufacturing.
What Are the Different Segmentations in the Lathe Machines Market?
The lathe machines market covered in this report is segmented -
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
Subsegments:
1) By Vertical Lathes: CNC Vertical Lathes, Manual Vertical Lathes
2) By Horizontal Lathes: CNC Horizontal Lathes, Manual Horizontal Lathes, Multi-Tasking Horizontal Lathes
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Which Region Is at the Forefront of the Lathe Machines Market?
Asia-Pacific was the largest region in the lathe machines market in 2024. The regions covered in the lathe machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Lathe Machines Global Market Report?
- Market Size Analysis: Analyze the Lathe Machines Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Lathe Machines Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Lathe Machines Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Lathe Machines Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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