Quadintel published a new report on the Lathe Machines Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global lathe machines market size was US$ 25.9 billion in 2021. The global lathe machines market is forecast to grow to US$ 36.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2022 to 2030.
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A lathe is a machine tool that is primarily used to shape wood, metal, or other materials. Lathe machines are majorly deployed by the metal-working industry, medical industry, and automotive industry.
Growing urbanization and rising industrialization will escalate the growth of the global lathe machines market. In addition, the wide applications of lathe machines in the automotive, general manufacturing, and transportation industry will drive the lathe machines market forward during the study period.
CNC lathes enable the precise operation of stored programmable commands. The growing popularity of CNC lathes will contribute to the overall industry growth.
The growing demand for smart and sustainable manufacturing solutions will offer ample growth opportunities for the lathe machine market. In addition, growing innovations in the industry will benefit the market during the study period. For instance, in September 2018, Dugard unveiled the Hanwha sliding head CNC lathes and collaborative robots (Cobots) at the Dugard open house. These machines are made for the medical, electronic, defense, aerospace, and automotive industries.
During the forecast period, Asia Pacific is forecast to register the highest CAGR due to growing industrialization. In addition, policies like “Make in India” are forecast to surge the growth of the overall lathe machine industry. The Asia-Pacific region is home to many developing and underdeveloped countries that are making strides in fields such as manufacturing, technology, education, and others. Furthermore, the growing automotive and medical industry and increasing investments in these sectors will also drive the lathe machines market forward.
Japan is well-recognized for its early adoption and revolutionization of computer numerical control technology. It is regarded as a global powerhouse in machine tool manufacturing control and industrial robotics, which will contribute to the growth of the market. In addition, China is another leading country that has made significant progress in industrialization. Thus, the Asia-Pacific lathe machines market is forecast to hold dominance in terms of revenue.
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The onset of the COVID-19 pandemic forced to stop activities in the manufacturing units. The automotive industry, which is one of the prominent end-users of lather machines, had to shut down activities for a short time. Thus, the market witnessed limited demand for lathe machines. Furthermore, imposed lockdown further made it difficult to maintain supply chain flow, which ultimately affected the global lathe machines industry.
Dalian Machine Tool Group Corporation DMG Mori Co., Ltd Doosan Machine Tools Haas Automation Inc. Hardinge Inc. HMT Machine Tools JTEJT Corporation Okuma Corporation Samsung Machine Tools Yamazaki Mazak Corporation Other Prominent Players Market Segmentation
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The global lathe machines market segmentation focuses on Type, Operation, End-Users, and Region.
Automotive General manufacturing Transportation Others
North America The U.S. Canada Mexico Europe Western Europe The UK Germany France Italy Spain Rest of Western Europe Eastern Europe Poland Russia Rest of Eastern Europe Asia Pacific China India Japan Australia & New Zealand ASEAN Rest of Asia Pacific Middle East & Africa (MEA) UAE Saudi Arabia South Africa Rest of MEA South America Brazil Argentina Rest of South America
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Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import dependent Lathe Machines Market, a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
The report provides a snapshot of the Lathe Machines Market. It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section. A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability
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