PUBLISHER: The Business Research Company | PRODUCT CODE: 1692011
PUBLISHER: The Business Research Company | PRODUCT CODE: 1692011
A lathe machine is a versatile machining tool that revolves a workpiece around an axis, allowing for operations such as cutting, sanding, drilling, and turning. This machine is instrumental in shaping both wooden and metallic products, removing excess material to achieve the desired form. The process involves the use of a tool that moves across and penetrates the workpiece, generating chips as it interacts with the rotating material.
The two primary types of lathe machines are vertical lathes and horizontal lathes. Vertical lathes position the spindle in a fixed vertical plane. Operations can be conventional or controlled by CNC (Computer Numerical Control), and the machines come in various capacities, such as heavy duty, medium duty, and low duty. Industries utilizing lathe machines include automotive, general manufacturing, transportation, and others.
The lathe machines market research report is one of a series of new reports from The Business Research Company that provides lathe machines market statistics, including lathe machines industry global market size, regional shares, competitors with a lathe machines market share, detailed lathe machines market segments, market trends and opportunities, and any further data you may need to thrive in the lathe machines industry. This lathe machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The lathe machines market size has grown steadily in recent years. It will grow from $11.93 billion in 2024 to $12.25 billion in 2025 at a compound annual growth rate (CAGR) of 2.6%. The growth in the historic period can be attributed to industrialization and manufacturing growth, expanding automotive industry, aerospace and defense sector demand, general machinery production, repair and maintenance needs.
The lathe machines market size is expected to see steady growth in the next few years. It will grow to $13.97 billion in 2029 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to global manufacturing resilience, renewable energy sector growth, expansion of medical device manufacturing, global infrastructure development. Major trends in the forecast period include automation and robotics integration, customization and tailoring to specific industry needs, focus on user-friendly human-machine interfaces (HMIS), emphasis on predictive maintenance technologies.
The anticipated growth in the lathe machine market is driven by the escalating demand for automobiles. Automobiles, primarily four-wheeled vehicles predominantly designed for passenger transportation and powered by internal combustion engines, rely on lathe machines for the production of their components and the precision repair of damaged parts. Notably, as reported by the European Automobile Manufacturers Association in May 2023, global motor vehicle production surged by 5.7% from 80.14 million in 2021 to 85.4 million in 2022. Additionally, new commercial vehicle registrations within the European Union experienced a notable increase of 7.7%, rising from 329,984 vans in 2022 to 355,553 vans in 2023. This burgeoning demand for automobiles serves as a pivotal driver propelling the expansion of the lathe machine market.
The increasing use of robotic devices is anticipated to drive the growth of the lathe machine market. A robotic device is a programmable machine capable of performing tasks without human intervention. In robotic systems, lathe machines can improve manufacturing processes by automating tasks such as loading, unloading, and machining operations, which enhances efficiency, productivity, and reduces costs. Lathe machines can also be combined with robotic systems for activities like deburring, cleaning, and inspection. For example, in September 2023, the International Federation of Robotics (IFR), a Germany-based professional non-profit organization, reported in its latest World Robotics report that 553,052 industrial robots were installed worldwide in 2022, indicating a 5% year-over-year increase. Of these, 73% were installed in Asia, 15% in Europe, and 10% in the Americas. Thus, the growing adoption of robotic devices is expected to support the expansion of the lathe machine market in the future.
Leading companies in the lathe machine market are focused on developing innovative products, such as automated lathes, to strengthen their market position. An automatic lathe is a type of lathe with a computer numerical control (CNC) system that allows for the automated control of the cutting process, enabling it to perform various complex machining operations. For example, in September 2023, Star Micronics Co. Ltd., a Japan-based manufacturer of electronic components and printers, introduced the SP-20/23 CNC Swiss-type automatic lathe. This high-precision, computer-controlled machine is designed for producing small, intricate parts and meets the rising demand for advanced machining solutions across industries like automotive, hydraulics, pneumatics, and general machinery. The SP-20/23 features enhanced versatility, advanced functions like thermal displacement correction, and an energy-saving ECO mode, making it ideal for high-precision component production. Its launch reflects the industry's continued shift toward automation and smart manufacturing.
In February 2023, Nidec Corporation, a Japan-based company that produces a diverse range of motors and control equipment for industrial, commercial, and appliance applications, acquired PAMA S.p.A. for an undisclosed amount. This acquisition aims to boost Nidec Corporation's market presence, drive product innovation, and improve operational efficiency within the machine tool industry. PAMA S.p.A., an Italy-based company, specializes in the manufacturing of advanced lathe machines.
Major companies operating in the lathe machines market report are Doosan Machine Tools Co. Ltd., JTEKT Corporation, EMCO Corporation, DMG Mori Co. Ltd., Yamazaki Mazak Corporation, Bolton Group, Okuma Corporation, Smec Co. Ltd., Haas Automation Inc., Hardinge Inc., Hurco Companies Inc., Ellison Technologies Inc., Hasegawa Machine Works Ltd., HMT Limited, Batliboi Ltd., Clausing Industrial Inc., Milltronics USA Inc., Goodway Machine Corporation, Fadal Engineering Inc., Chiah Chyun Machinery Co. Ltd., Intelitek Inc., Dalian Machine Tool Group Corporation, Fryer Machine Systems Inc., Fair Friend Group, Ajax Machine Tools International Ltd., American Machine Tools Corporation, Carl Benzinger GmbH, Ace Micromatic Group, Citizen Machinery Co. Ltd., Strojimport A.S.
Asia-Pacific was the largest region in the lathe machines market in 2024. The regions covered in the lathe machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the lathe machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The lathe machine market consists of the sale of speed lathes, capstan lathes, tool room lathes, bench lathes, and gap bed lathes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Lathe Machines Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on lathe machines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for lathe machines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lathe machines market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.