Technavio, a tech-focused market research firm, has published a new report on the global lathe machine market, which is expected to experience a slow but steady growth rate with a CAGR of close to 2% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global lathe machine market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global lathe machine market into the following key regions: APAC, EMEA, and the Americas.
Geographical segmentation of the global lathe machine market for 2015 (market share %)
|
APAC |
53.50% |
|
EMEA |
31.30% |
|
Americas |
15.20% |
Source: Technavio
APAC: largest revenue generating region for lathe machine
APAC contributed to the highest share in the global lathe machines market in 2015 and accounted for almost 54% of the overall market share. The growth of the market in this region is attributable to the flourishing manufacture sector owing to the low-cost manufacturing havens in the region such as China, India, and the technical expertise available in countries such as South Korea. Increased foreign investments, more advanced manufacturing machinery, and equipment are helping the manufacturing output to grow in these countries. The resultant increase in the manufacturing output is likely to act as an incentive for the growth of the lathe machine market in APAC during the forecast period.
According to Anju Ajaykumar, a lead analyst at Technavio for engineering tools, “Metal additive manufacturing is an upcoming trend in the global lathe machine market. Additive manufacturing is used for creating three-dimensional objects from digital files. The technique can be used to produce complex shapes that may not be feasible with traditional casting and machining methods, or subtractive techniques.”
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Lathe machine market in EMEA
During 2015, EMEA accounted for more than 31% of the global market. European countries such as Germany, the UK, and Italy are the primary consumers of metalworking equipment and services in the region. The high demand for metalworking equipment is attributable to the growing investments made in the automotive and aerospace industries in these countries. The growth of the global commercial aviation sector is triggering an upsurge in orders for more aircraft from the European aircraft manufacturing companies such as France’s Airbus. This has led to capacity expansion activities in these industries. It is boosting the demand for metal heat treatment equipment and services in Europe’s aerospace industry.
Lathe equipment market in the Americas
The Americas was the smallest revenue-generating region of the global market during 2015 with a market share of around 15%. In North America, the US is a major market for automotive manufacturers. Traditionally, it has been a global leader in the field of automobile technology. The country boasts of a huge consumer base with high levels of disposable incomes that drive the demand for automotive, resulting in an increased demand for metalworking equipment. The US is the leader in the automotive production, followed closely by Mexico. Availability of cheap labor, land, and proximity to major export destinations have attracted major OEMs like Toyota, General Motors, Chrysler, Ford, Nissan, BMW, Honda, Volkswagen, Audi, and Mazda to the country.
The top leading vendors operating in the global lathe machine market are:
- DMTG
- DMG Mori
- Yamazaki Mazak
- Okuma
- Samsung Machine Tools
Other prominent vendors in the market include Strojimport, Hurco, JTEKT Toyoda Americas Corporation, Ajax Machine Tools, Haas Automation, HMT Machine Tools, American Machine Tools, Heavy Engineering Corporation, Doosan Machine Tools, Hangzhou Datian CNC Machine Tool Corporation, Ace Micromatic, Batliboi, Nakamura-Tome Precision Industry, HYUNDAI WIA Machine Tools, Jinn Fa Machine, Bolton Group, JARNG YEONG ENTERPRISE, EMCO, Victor Machinery Solutions, Kent Industrial, Jyoti CNC Automation, Feeler (FAIR FRIEND GROUP), CHIAH CHYUN MACHINERY CO., PROMPT INTEGRATED TECHNOLOGY, CHIAH CHYUN MACHINERY CO., Amera-Seiki, GOODWAY MACHINE, Yama Seiki, YEONG CHIN MACHINERY INDUSTRIES CO., TSUGAMI CORPORATION, EMAG, HURON GRAFFENSTADEN, INTELITEK, Fadal Engineering, LEADWELL CNC MACHINES MFG, TrensHWACHEON, Methods Machine Tools, MILLTRONICS, Murata, Fryer Machine Systems, HASEGAWA MACHINE WORKS, O-M Ltd. Group, BENZINGER, Milacron, CITIZEN, CLAUSING, DAEWOO, HARDINGE, HITACHI-Seiki, and MONARCH.
A more detailed analysis is available in the Technavio report tilted, ‘Global Lathe Machine Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Drilling Machines Market 2016-2020
- Global Injection Molding Machine Market 2016-2020
- Global Machining Centers Market 2016-2020
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