Global Lathe Machines Market to Reach USD 38.8 Billion by 2033, Impelled by Rising Demand for Precision Manufacturing

December 20, 2024 | Heavy Industry

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According to the latest report by IMARC Group, titled "Lathe Machines Market Report by Type (Vertical Lathes, Horizontal Lathes), Operation (Conventional Lathes, CNC Lathes), Capacity (Heavy Duty, Medium Duty, Low Duty), End User (Automotive, General Manufacturing, Transportation, and Others), and Region 2025-2033," the global lathe machines market reached a value of USD 26.3 Billion in 2024. Lathe machines are widely used for shaping and removing unwanted pieces from wood or metal products. Besides this, they are also utilized for reaming, drilling, tapping, grooving, knurling, threading and facing of a workpiece. They comprise a bed, tailstock, headstock, tool rest, spindles, feed rod, lead screw, speed controller, chip pan and motor that help in achieving the desired shapes and size of the final product. As a result, they are gaining widespread prominence across the globe and are employed across several industries for metalworking, glass processing, thermal spraying and wood tuning of various artistic products.

Global Lathe Machines Market Trends:

The global market is primarily driven by the increasing demand for precision manufacturing across the industrial sector. Coupled with the rising focus on sustainable and smart manufacturing due to the growing need for minimizing wastage, this is creating a positive market outlook. Along with this, the increasing preference for superior quality products has encouraged leading manufacturers to heavily invest in the deployment of advanced automated machines, thereby driving the demand for lathe machines. Moreover, the widespread adoption of the tool in the metalworking industry to transform unfinished metal sheets into vehicle bodies and spare parts is impacting the market growth favorably. Furthermore, continual technological advancements and the introduction of industry 4.0 that has led to the incorporation of the internet of things (IoT) with lathe machines are significantly supporting the demand on the global level. Other factors, including rapid industrialization, intensive business competition and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. Looking forward, the market value is projected to reach USD 38.8 Billion by 2033, expanding at a CAGR of 4.19% during 2025-2033.

Market Summary:

On the basis of the type, the market has been segmented into vertical and horizontal lathes.
Based on the operation, the market has been segregated into conventional and CNC lathes.
On the basis of the capacity, the market has been classified into heavy, medium and low duty.
Based on the end-user, the market has been bifurcated into automotive, general manufacturing, transportation and others.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include DMG Mori Co. Ltd, Doosan Machine Tools Co. Ltd., EMAG GmbH & Co. KG, Fair Friend Group, Haas Automation Inc., Hardinge Inc., HMT Machine Tools Limited (HMT Limited), Hurco Companies Inc., JTEKT Corporation, Macpower CNC Machines Limited, Mazak Corporation, Okuma Corporation and SMEC CO. LTD.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Type, Operation, Capacity, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	DMG Mori Co. Ltd, Doosan Machine Tools Co. Ltd., EMAG GmbH & Co. KG, Fair Friend Group, Haas Automation Inc., Hardinge Inc., HMT Machine Tools Limited (HMT Limited), Hurco Companies Inc., JTEKT Corporation, Macpower CNC Machines Limited, Mazak Corporation, Okuma Corporation and SMEC CO. LTD.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Lathe Machines Market to Reach USD 38.8 Billion by 2033, Impelled by Rising Demand for Precision Manufacturing

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