Conventional lathe market Size, Share, Growth, and Industry Analysis, By Type (horizontal and vertical), By Application (general manufacturing, automotive, medical, and aerospace) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

CONVENTIONAL LATHE MARKET REPORT OVERVIEW

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The global conventional lathe market size was USD 7200 million in 2022 and will touch USD 10830 million by 2029, exhibiting a CAGR of 6.0% during the forecast period.

The Conventional lathe market continues to witness steady growth driven by its diverse applications across industries such as oil and gas, chemicals, sewage, irrigation, and more. Fiberglass pipes, including GRE (Glass Reinforced Epoxy) Pipes, GRP (Glass Reinforced Plastic) Pipes, and others, offer superior corrosion resistance, durability, and lightweight properties compared to traditional piping materials like steel or PVC. In sectors such as oil and gas, they are increasingly favored for their ability to withstand harsh operating conditions, including corrosive fluids, high pressures, and extreme temperatures, making them indispensable for pipeline infrastructure in exploration, production, and transmission activities. Moreover, the adoption of them in sewage systems and irrigation networks is driven by their resistance to biological degradation, chemical corrosion, and abrasion, providing long-lasting solutions for wastewater management and sustainable agriculture practices.

Amidst growing concerns about environmental sustainability and climate change, the market is witnessing increased demand for eco-friendly alternatives to traditional piping materials. Them, being non-corrosive and resistant to chemical leaching, offer environmental advantages over metal and plastic pipes, reducing the risk of soil and water contamination. Furthermore, innovations in manufacturing processes and materials are leading to the development of lighter, stronger, and more cost-effective fiberglass pipe solutions, catering to the evolving needs of end-users across various industries. Additionally, the integration of smart technologies such as IoT sensors and predictive analytics into fiberglass pipe systems is enabling real-time monitoring, predictive maintenance, and optimization of infrastructure performance, enhancing reliability and efficiency in critical applications.Top of Form

COVID-19 Impact: Market Growth Hindered by Pandemic due to Economic Slowdown and Disruptions in Supply Chains

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a significant impact on the conventional lathe market share. Similar to other industries, the global supply chain of it suffered delays and interruptions in manufacturing processes. Lockdown measures and restrictions on movement impeded the production and distribution of lathe machinery, leading to a decline in market growth. Moreover, reduced consumer spending and uncertainty in the economic landscape dampened the demand for it across various end-user industries.

LATEST TRENDS

"Integration of CNC Technology in Conventional Lathes to Drive Market Growth"

A notable trend in the market is the increasing integration of Computer Numerical Control (CNC) technology into traditional lathe machines. CNC technology enables automated operation and precise control over machining processes, enhancing productivity and accuracy. Manufacturers are retrofitting them with CNC systems or offering hybrid models that combine manual and CNC functionalities. This trend is driven by the growing demand for advanced machining capabilities, particularly in industries such as aerospace, automotive, and precision engineering. The integration of CNC technology allows conventional lathe users to streamline production processes and adapt to evolving market requirements efficiently.

CONVENTIONAL LATHE MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into with horizontal and vertical.

Horizontal lathes, also known as engine lathes, are designed with the workpiece mounted horizontally and the cutting tool positioned parallel to the ground. These lathes are versatile and widely used for a range of turning operations, including facing, turning, grooving, and threading. Horizontal lathes are suitable for machining cylindrical and prismatic components with varying diameters and lengths. On the other hand, vertical lathes, also referred to as turret lathes or vertical boring mills, feature a vertical spindle orientation and a stationary workpiece mounted on a rotating table. Vertical lathes are preferred for machining large, heavy workpieces with complex geometries, such as discs, rings, and gears. The segmentation by type reflects the diverse machining capabilities and applications catered to by horizontal and vertical lathes in the manufacturing industry.

• By Application

Based on application the global market can be categorized into general manufacturing, automotive, medical, and aerospace.

General manufacturing encompasses a broad range of industries and applications, including job shops, fabrication shops, and production facilities involved in the production of consumer goods, industrial components, and machinery. They play a vital role in general manufacturing by machining parts and components with precision and efficiency. The automotive industry relies on them for the production of engine components, transmission shafts, axles, and other critical parts. In the medical sector, they are utilized for manufacturing orthopedic implants, surgical instruments, and prosthetic devices with tight tolerances and biocompatible materials. Aerospace applications require them for machining aerospace-grade alloys, composites, and precision components used in aircraft structures, engines, and avionics systems. The segmentation by application reflects the diverse range of industries and specific machining requirements addressed by them across various sectors, highlighting their versatility and importance in modern manufacturing.

DRIVING FACTORS

"Demand from Automotive and Aerospace Industries to Boost the Market"

One of the primary driving factors for the market is the sustained demand from the automotive and aerospace industries. These sectors rely heavily on precision machining for the production of components and parts with tight tolerances. They play a crucial role in manufacturing shafts, bushings, fittings, and other intricate components required in automotive and aerospace applications. As the automotive and aerospace industries continue to innovate and introduce new models and technologies, the demand for high-precision machining equipment such as them remains strong.

"Expansion of Manufacturing Infrastructure to Expand the Market"

The expansion of manufacturing infrastructure, particularly in the Asia-Pacific region, fuels the growth of the market. Countries like China, India, and South Korea are witnessing rapid industrialization and infrastructure development, driving the demand for machine tools including them. The establishment of new manufacturing facilities, coupled with investments in sectors such as automotive, electronics, and general engineering, creates a robust market for conventional lathe machines. Moreover, government initiatives aimed at promoting domestic manufacturing and enhancing industrial capabilities further contribute to market growth in the Asia-Pacific region.

RESTRAINING FACTORS

"Skills Gap and Workforce Training Challenges to Potentially Impede Market Growth"

Despite the growing demand for them, the market faces a restraining factor in the form of skills gap and workforce training challenges. Operating conventional lathe machines requires specialized skills and training in machining techniques and tooling. However, there is a shortage of skilled machinists and operators in the industry, which poses a challenge for manufacturers and end-users alike. Addressing the skills gap and providing adequate training programs to the workforce is essential to fully leverage the capabilities of conventional lathe machines and sustain market growth.

CONVENTIONAL LATHE MARKET  REGIONAL INSIGHTS

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"North America Region Dominating the Market due to presence of a Large Manufacturing Base in the Region"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

North America is expected to be the highest conventional lathe market growth. This growth can be attributed to several factors, including rapid industrialization, infrastructure development, and the presence of a large manufacturing base. Countries like China and India, in particular, drive market growth due to their expanding automotive, aerospace, and general engineering sectors. Additionally, government initiatives promoting manufacturing and investments in technological advancements contribute to the increasing adoption of conventional lathe machines in the Asia-Pacific region.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The Conventional lathe market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Knuth (Germany)
• PROTEM (France)
• KAAST Machine Tools Inc. (U.S)
• 600 Group (UK)
• Kent Industrial (Taiwan)
• L & W Machine Tools, Inc. (U.S)
• WMH Tool Group (U.S)
• Cormak (Poland)
• Hwacheon (South Korea)
• Romi (Brazil)
• COMEC SRL (Italy)
• Elmag (Italy)
• Schuster Maschinenbau GmbH (Germany)
• WEILER Werkzeugmaschinen (Germany)
• Delta Power Equipment Corp (U.S)

INDUSTRIAL DEVELOPMENT

December 2019: The latest industrial development in the market is the development of hybrid lathe machines with additive manufacturing capabilities. These hybrid machines integrate traditional lathe machining functions with additive manufacturing technologies such as 3D printing. Manufacturers have introduced hybrid lathes equipped with deposition heads or powder-fed systems, allowing users to fabricate complex geometries and add features to conventional machined components. This innovation enables manufacturers to combine subtractive and additive manufacturing processes in a single machine, offering greater flexibility and efficiency in production. The integration of additive manufacturing capabilities into conventional lathes represents a significant advancement in manufacturing technology, catering to the evolving needs of modern industries. Top of Form

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.