Vertical Turning Machines Market Size, Share, Growth, and Industry Analysis, By Type (Single Spindle Pick-up Model, Dual Spindle Model, Other), By Application (Arge Diameter Heavy Workpieces, Mass Produced Automotive, Other), Regional Forecast To 2031

Updated On: 22 April 2024

Vertical Turning Machines Market Report Overview

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The global vertical turning machines market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Vertical turning machines represents lathes that can convert a workpiece both horizontally and vertically. They are used to make shafts, bearing, and other cylindrical or conical turned pieces. These machines have a big spindle head that rotates up and down in order to perform vertical turning or milling tasks. For further operations, the spindle head can be rotated. A VTM's table may also be adjusted vertically or horizontally and slanted to provide for different cutting angles. VTM machines are employed in several industries, including automotive, aerospace, medicine, and energy.

COVID-19 Impact: Health and Safety Concerns to Deplete Market Growth

The pandemic has caused supply chain disruptions, the production to be delayed. The consumer sector has evolved to be an essential part of various countries' supply chains, and the Covid-19 disease outbreak had a significant impact on it. The consumer sector is reliant on maintaining, which was halted to protect individuals from SARS-CoV-2, posing significant challenges. Component shortages caused by regulations governing goods import and export have also delayed the production of the machinery. Despite the government's efforts to enhance economic circumstances, the vertical turning machines market is expected to grow significantly in the coming years.

Latest Trends

"Arge Diameter Heavy Workpieces to Intensify Market Magnification"

Arge diameter heavy workpieces has been the largest application segment, accounting for 35% of the market, because of their capacity to deliver superior parts with low scrap rates whilst also improving part accuracy, leading to increased productivity, which ultimately decreases the cost per unit of output, making it competitive against conventional methods such as jigs and fixtures or CNC machining centres, which are used in various industries worldwide. Moreover, companies are now investigating the racket sweatband market through mergers and acquisitions, expansion, investments, new advancements in current products, and collaborations.

Vertical Turning Machines Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into single spindle pick-up model, dual spindle model, other

Single spindle pick-up model is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into arge diameter heavy, workpieces, mass produced automotive, other

Arge diameter heavy is the leading part of the application segment

Driving Factors

"Single Spindles Pickup Concept to Boost Market Share"

To compute the force applied on a vertical machine's turning point, a single spindles pick-up framework is used. The single spindle pickups concept applies to any vertical machine with a single spindle and no extra supporting structures. The single spindle pickup variant is suitable for a variety of applications, including gear-cutting machines, gear-grinding machineries, and screw-cutting machines. Therefore, the availability of single spindles will improve the overall vertical turning machines market share.

"Dual Spindles to Expand Market Forwarding"

VTMs (vertical turning machines with dual spindles) are CNC machines with two spindles positioned on a single turret. This enables the execution of two operations with the exact same object in a single configuration. This machine is frequently used for machining automobile components, aircraft parts, and many other complex parts that require many operations. The twin spindle configuration helps shorten cycle times and boost productivity. They can also be used in production runs to decrease installation time and machine costs. As a result, the vertical turning machines market growth is growing at both the domestic and global levels.

Restraining Factors

"Limited Workpiece Size to Deplete Market Advancement"

Vertical turning machines have a limited workpiece size, which is one of its key limitations. The machines only can mill workpieces that are small enough to fit on their table. The machines must therefore be better suited to big and bulky workpieces.

Vertical Turning Machines Market Regional Insights

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"Increased Industrialization to Uplift Market Growth in Asia Pacific "

Asia Pacific dominates the global vertical turning machines market growth. Asia Pacific controls the worldwide revenue market share of more than 40.0% and is expected to maintain its dominance during the forecast period. Because to increased industrialization, rising foreign investment, and rapid urbanization and growth, the area is expected to have the a higher CAGR from 2022 to 2030. Furthermore, because of low labor costs and easy access to basic supplies such as steel sheets/bars, as well as significant demand from numerous end-use sectors such as the automobile and construction industries, China has grown into an important hub for vertical turning machines manufacturing.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• OMBP (Switzerland)
• EMAG (Romania)
• FFG Europe (Germany)
• GILDEMEISTER (Peru)
• Hessapp (Germany)
• INDEX Traub (Germany)
• Mahek SPM Automation (India)
• Premier (India)
• Sicmat (Italy)
• Waldrich Coburg (U.S.)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.