Lathe Machines Market Research Report 2020-2026

Posted June 10, 2020 by Aashi_K

The global lathe machines market size was USD 25.01 billion in 2018 and is projected to reach USD 40.22 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period.

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.

"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.

List of Key Companies Profiled:
DMG Mori Co., Ltd.
Dalian Machine Tool Corporation
Okuma Corporation
Doosan Machine Tools Co., Ltd.
Haas Automation, Inc.
Hardinge Inc.
HMT Machine Tools Ltd.
Samsung Machine Tools
Yamazaki Mazak Corporation
Yamazaki Mazak Pvt. Ltd
Ace Micromatic Group

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Categories Automotive , Business , Engineering
Tags industry , machinery , manufacturing , Lathe , technology
Last Updated June 10, 2020