What is Global Conventional Lathe Market?
The Global Conventional Lathe Market is a vast and dynamic sector that encompasses a wide range of products and services. At its core, a conventional lathe is a machine tool that rotates a workpiece about an axis of rotation to perform various operations such as cutting, sanding, knurling, drilling, deformation, facing, and turning. This market is not confined to a specific region or country but spans across the globe, making it a truly international market. The conventional lathe market is driven by various factors such as the increasing demand for the manufacturing of complex parts, the growing need for precision in various industrial applications, and the rising adoption of advanced manufacturing techniques. However, the market also faces certain challenges such as the high cost of conventional lathes and the need for skilled operators. Despite these challenges, the market continues to grow and evolve, offering numerous opportunities for manufacturers, suppliers, and end-users.
Horizontal, Vertical in the Global Conventional Lathe Market:
The Global Conventional Lathe Market can be broadly categorized into two types based on their orientation: horizontal and vertical. Horizontal lathes, as the name suggests, have a horizontal workpiece orientation. They are typically used for turning, facing, and boring operations. On the other hand, vertical lathes, which have a vertical workpiece orientation, are commonly used for operations such as drilling and tapping. Both these types of lathes have their own set of advantages and disadvantages. For instance, horizontal lathes are generally more versatile and can handle a wider range of workpiece sizes, while vertical lathes are more suitable for heavy, short workpieces. The choice between a horizontal and a vertical lathe largely depends on the specific requirements of the application.
General Manufacturing, Automotive, Medical, Aerospace in the Global Conventional Lathe Market:
The Global Conventional Lathe Market finds extensive usage in various sectors such as general manufacturing, automotive, medical, and aerospace. In the general manufacturing sector, conventional lathes are used for a wide range of applications including the production of machine parts, tools, and equipment. In the automotive industry, they are used for manufacturing various components such as engine parts, gears, and shafts. In the medical sector, conventional lathes are used for the production of medical devices and equipment. Similarly, in the aerospace industry, they are used for manufacturing various aircraft components. The versatility and precision offered by conventional lathes make them an indispensable tool in these sectors.
Global Conventional Lathe Market Outlook:
According to a recent survey, the global Conventional Lathe market is expected to witness significant growth in the coming years. The market, which was valued at US$ 7200 million in 2022, is projected to reach a value of US$ 10830 million by 2029. This represents a compound annual growth rate (CAGR) of 6.0% during the forecast period from 2023 to 2029. This growth can be attributed to various factors such as the increasing demand for precision in manufacturing, the growing adoption of advanced manufacturing techniques, and the rising need for the production of complex parts. However, the market also faces certain challenges such as the high cost of conventional lathes and the need for skilled operators. Despite these challenges, the market is expected to continue its upward trajectory, offering numerous opportunities for manufacturers, suppliers, and end-users.
| Report Metric | Details |
| Report Name | Conventional Lathe Market |
| Accounted market size in 2022 | US$ 7200 million |
| Forecasted market size in 2029 | US$ 10830 million |
| CAGR | 6.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Knuth, PROTEM, KAAST Machine Tools Inc., 600 Group, Kent Industrial, L & W Machine Tools, Inc., WMH Tool Group, Cormak, Hwacheon, Romi, COMEC SRL, Elmag, Schuster Maschinenbau GmbH, WEILER Werkzeugmaschinen, Delta Power Equipment Corp |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
