The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 6%
Lathe machines have a significant role to play in the metalworking market. The growing demand for lathe machines, particularly the CNC type, is expected to drive the market due to high precision and low operating costs. Asia-Pacific has the largest market share of machines due to the growing demand from developing countries, including India and China. This is expected to result in the demand growth of lathe machines shortly. Increased demand for the prefabricated metal industry is also likely to produce high revenues throughout North America and Latin America.
Industry Definition and Major Segments
Lathe refers to a machine tool that is mainly used to shape articles of wood, metal or other materials. Lathe machines are one of the most popular machine tools used in the metalworking industry. They are considered a powerful metal forming machine tool.
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The market can be divided into the following segments based on Lathe machine type:
Based on the capacity, the market can be divided into:
- Heavy duty
- Medium duty
- Low duty
The market can be divided on based on machine types into:
Based on operations, the market can be divided by:
- Manual chucks
- Power chucks
The market can be categorized based on end uses into:
- General Machinery
- Oil and Gas
- Paper and Pulp
The leading regional markets for Lathe Machines Market are:
- North America
- Latin Americas
- Middle East and Africa
- Asia Pacific
The increased demand for mass production in a short time and increased demand from the critical component manufacturing sector are expected to drive the market for lathe machines. The rising demand for machines from various other industries, such as food processing, construction and packaging, drives the general trend. However, complex components from the aerospace industry and the military sector are expected to drive the precision machinery segment.
Key Market Players
The major players in the market are SMEC CO., LTD, Haas Automation, Inc, Okuma Corporation, Accurate Machines Tools, and EMAG GmbH & Co. KG among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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