Wood Lathe Market Size, Share, Growth, and Industry Analysis by Type (Mini Wood Lathe, Midi Wood Lathe, and Full Sized Wood Lathe) By Application (Wood Processing Craft, Personal Use, and Others), Regional Insights and Forecast To 2031

Updated On: 01 April 2024

Wood Lathe Market Report Overview

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The global wood lathe market size is expected to be worth USD 198.4 million in 2021 and is projected to touch USD 280.39 million by 2031, at a CAGR of 3.5% during the forecast period.

A wood lathe is a machine for smoothing and shaping wood. Lathes for working with metal and glass are available in addition to wood lathes. The tool is not limited to straight cuts but can also be used to shape the wood. Lathes make use of a variety of tools, including a spindle roughing gauge, scrapers, and skew chisels. The wood is fastened to the lathe. The lathe spins the wood while shaping it with cutting tools. Some lathes will operate the cutting tools for you, while others will require you to use the tools on the spinning wood. There is a wide range of wood lathes to choose from. A center lathe is a popular machine that can be used without having to bend over. A bench wood lathe is similar, but it's mounted on a tabletop. A vertical wood lathe, as opposed to a centre or bench lathe, holds the wood piece on a vertical axis.

While the wood lathe's cutting tools are stationary and easy to avoid, the wood piece you're working on spins while the lathe is running. As you turn the lathe, there is a chance that the piece will break free or that a small piece of wood will be thrown. Furthermore, loose clothing, long hair, and jeweler may become entangled in the spinning wood, causing injury. Furniture legs, lamp posts, baseball bats, bowls, and other ornamental forms are examples of objects made on a wood lathe. Wood lathe tooling consists of workpiece fixturing and securing devices, a moveable tool rest, and hand-held cutting tools such as long-handled gouges, skews, scrapers, and parting tools. Internal shaping and surface development tooling are also available. Although wood lathes can come in a variety of shapes and sizes depending on the primary turning operation, those on campus include a driven or rotating headstock, a lathe bed, a tailstock for longer objects, and an adjustable tool rest.

COVID-19 Impact: Halt on Machinery and Equipment to Hamper Market

The global COVID-19 pandemic has been unprecedented and staggering, with the global wood lathe market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden surge in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over. 

The covid-19 pandemic has had a profound effect on all aspects of the wood lathe industry. The reported issues include supply chain disruption, border closures, and increased border controls, a decline in domestic and foreign demand, and the retail closing process. Despite the fact that the industry experienced a downward market trend during the pandemic, it is expected to grow in the future.

Latest Trends

"Technological Advancement to Drive the Market Growth"

During the forecast period, the lathe segment is expected to have the largest market share. This is due to the use of advanced CNC lathe machines and working centres for wooden door processing in order to plane the wood surfaces.

Other market segments, such as saws, jointers, and sanders, are expected to grow steadily. Saw machinery, in particular, is expected to grow significantly due to its use in curving wooden objects. Furthermore, the growing popularity of portable table saws is propelling its growth during the forecast period.

Wood Lathe Market Segmentation

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• By Type

The market is classified into mini wood lathe, midi wood lathe, and full sized wood lathe based on type. The mini wood lathe segment will lead the global wood lathe market share throughout the forecast period.

• By Application

The market is classified into wood processing craft, personal use, and others on the basis of application. The wood processing craft segment will lead the global wood lathe market share throughout the forecast period.

Driving Factors

"Increased Demand for Wooden Furniture to Drive the Market Growth"

The market for the wood lathes is expected to grow significantly in the near future, owing to rising innovation in wooden aesthetics, tremendous growth in construction, and DIY trends. Increased market innovation is paving the way for more appealing wooden designs, with more variety in wooden furniture, while simultaneously lowering traditional risks of termite attacks and water spoilage. Wooden furniture is becoming increasingly reliable in homes and offices, where it often provides familiarity, a soothing calm of nature, and robust use in heavy-duty applications. The market is expected to expand significantly as new businesses continue to prefer wooden furniture with stylish designs over plastic furniture, which can be uncomfortable and lacking in prestige.

"Automation of The Device to Drive the Market Growth"

The growing preference for manufacturing unit automation to improve productivity and overall efficiency is expected to drive up demand for wood lathes in the near future. As the need for automated machines in every industry is increasing, the same happens in the wood lathe market as well which leads to the wood lathe market growth.

Restraining Factors

"The Price of the Machinery to Impede the Market Growth"

The high initial cost of wood lathe machines, as well as maintenance costs, is a major impediment to the global wood lathe market. Furthermore, a scarcity of skilled labor is expected to limit the growth of the market.

Wood Lathe Market Regional Insights

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"Europe to Dominate the Market Due to The Presence of More Market Players"

Europe is expected to maintain its dominance throughout the forecast period. This is because established wood lathe manufacturers exist in countries such as Italy, Germany, and the U.K.. Timber utilization and the use of cross-laminated timbers (CLTS) to manufacture houses and commercial buildings in the United States and Canada are expected to drive significant growth in North America.

During the forecast period, Asia Pacific is expected to have the highest CAGR. The increase is attributed to the growing population rate, households, consumer needs, and end-user consumption of forest products. Furthermore, countries such as India, China, and others in the South-East are enacting policies to expand the market for small and medium-sized manufacturers.

Key Industry Players

"Leading Players Adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolios and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the global wood lathe market.

List of Market Players Profiled

• JPW Industries (U.S.)
• Delta Machinery (U.S.)
• RIKON Power Tools (U.S.)
• Laguna Tools (U.S.)
• Teknatool International (New Zealand)
• WEN (U.S.)
• Grizzly (U.S.)
• Woodstock International (U.S.)
• SCM Group (Italy)
• Robust Tools (U.S.)
• Axminster (U.K.)
• Carbatec (Australia)
• King Canada (Canada)
• Harvey Industries (U.S.)
• Jai Industries (India)
• Binzhou COSEN CNC equipment (China)
• LingRui CNC

REPORT COVERAGE

In the report, factors affecting the market from both demand and supply are evaluated and market dynamics during the forecast period are also forecasted. Also included in the report is a comprehensive PEST analysis of countries, which assesses the governmental, financial, and shared factors influencing their markets. Apart from all of these, the report also provides drivers, restraints, opportunities, and future trends.