Lathe Machines Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Lathe Machines Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 26, 2024 /EINPresswire.com/ -- The global lathe machines market has shown steady growth, expanding from $11.53 billion in 2023 to an anticipated $11.93 billion in 2024, at a CAGR of 3.5%. This growth has been driven by industrialization, expansion in the automotive sector, demand from aerospace and defense industries, and general machinery production and maintenance needs. The market is projected to continue growing, reaching $13.41 billion by 2028, with a CAGR of 2.9%. Key drivers include resilience in global manufacturing, growth in renewable energy sectors, expansion of medical device manufacturing, and infrastructure development.

Automation and Robotics Integration Drives Market Growth
The adoption of robotic devices is a significant factor propelling the growth of the lathe machines market. Robots enhance manufacturing processes by automating tasks such as loading, unloading, and machining operations, thereby improving efficiency, productivity, and cost-effectiveness. Integration of lathe machines with robotic systems for activities like deburring and inspection further augments their utility in modern manufacturing environments. For example, the International Federation of Robotics reported significant increases in industrial robot shipments globally in recent years, underscoring the trend towards automation in manufacturing.

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Major Players and Market Trends
Key players in the lathe machines market include Doosan Machine Tools Co. Ltd., JTEKT Corporation, EMCO Corporation, DMG Mori Co. Ltd., and Yamazaki Mazak Corporation, among others. These companies focus on innovation to meet specific industry needs. For instance, Star Micronics Co Ltd. launched the SL Series Swiss-type automated lathes, such as the SL-7 and SL-10, in September 2021. These lathes are designed for precision machining in sectors like data communication, automotive, and medical, emphasizing efficiency, productivity, and accuracy.

Segments:
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

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific emerged as the largest region in the lathe machines market in 2023, driven by robust industrialization and manufacturing activities. The region is expected to continue its dominance, supported by ongoing infrastructure developments and technological advancements.

Access the complete report for an in-depth analysis of the global lathe machines market: https://www.thebusinessresearchcompany.com/report/lathe-machines-global-market-report

Lathe Machines Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Lathe Machines Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on lathe machines market size, lathe machines market drivers and trends, lathe machines market major players, competitors' revenues, market positioning, and market growth across geographies. The lathe machines market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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