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Global CNC Automatic Lathes Market to Reach Valuation of USD 864.62 Million By 2030: Market Research Place
Fior Market Research LLP
5 min read
Fior Market Research LLP
The CNC Automatic Lathes Market report presents a brief about the segments, the horizontal lathe segment prevail the market with the largest industry share and revenue.
Newark, NJ, May 11, 2022 (GLOBE NEWSWIRE) -- As per the report published by Market Research Place, the global CNC automatic lathes market is expected to grow from USD 491.38 million in 2021 to USD 864.62 million by 2030, at a CAGR of 6.48% during the forecast period 2022-2030.
CNC Automatic Lathes demand is increasing due to its lathe processing advantages. As these have an ideal design of cutting speed and feed, their cost is relatively low, and the unit cost will be decreased in a few diverse production modes, particularly when the finished product's shape is complex and fine. The well-designed program helps use the machine tools at different times and places. For producing the same product, there is no requirement for redesigning, and therefore it decreases the upfront cost and preparation time. The adaptive control helps in maintaining the machine tool in the best production conditions and helps in extending its life.
Competitive Strategy
To enhance their market position in the global CNC Automatic Lathes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
In May 2021, Star Micronics Co. Ltd. announced that it had developed the SR-32JIII, a new Swiss-type automatic late in their SR series. This model is designed for large-diameter machining requirements like for automotive parts or hydraulic or pneumatic devices.
The constant growth of the macroeconomy and industrial output value propels the market. There is also a rise and shift in demand from downstream industry for CNC high precision machine tools. There is a surge in CNC automatic systems' adoption as adequate regulations support CNC high-precision machine tools. The recent trend propelling the market's growth is a high speed, intelligence, high precision-oriented, technology integration, and product diversification. The manufacturers are looking to reduce their delivery time by upgrading their automation level to improve their product quality.
Key Findings
In 2021, the horizontal lathe segment dominated the market with the largest market share of 82% and market revenue of 402.93 million.
The type segment is divided into the horizontal lathe and vertical lathe. In 2021, the horizontal lathe segment dominated the market with the largest market share of 82% and market revenue of 402.93 million. A horizontal lathe is a machine tool designed to cut different profiles in revolving steel or wood workpiece. These are broadly used in high precision machining operations. These are available in a broad range of sizes and designs. These have grown significantly with the introduction of new materials. These are used in various ways and with many choices of materials.
In 2021, the automobile industry segment accounted for the largest share of the market, with 35% and market revenue of 171.98 million.
The application segment is divided into the shipping industry, automobile industry, equipment manufacturing industry, and others. In 2021, the automobile industry segment accounted for the largest share of the market, with 35% and market revenue of around 172 million. This is generally attributed to the advanced development of the downstream industries like automobiles and electronic products. These tools are available with a wide range of specifications in order to meet a comprehensive range of machining solutions.
Regional Segment Analysis of the CNC Automatic Lathes Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia Pacific has the largest market for the global CNC automatic lathes market, with a market share of around 37% and 181.81 million of the market revenue in 2021. The market for CNC Automatic Lathes in the Asia Pacific region has been rising due to prominent market players. The Asia Pacific region is becoming a large manufacturing hub due to cheap labor costs. Many countries in the Asia Pacific region are on the verge of advancement in several fields such as manufacturing, technology, education, and others. This offers lucrative growth opportunities for CNC Automatic Lathes in the region.
Key players operating in the global CNC automatic lathes market are:
Star Micronics
Tsugami Precision Engineering India
Frejoth International
LICO
Nakamura-Tome Precision Industry
OKUMA
CITIZEN MACHINERY MIYANO
CHEVALIER - Falcon Machine Tools
CMZ
JINN FA Machine
MYLAS
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. CNC automatic lathes has segmented the global CNC automatic lathes market based on the below-mentioned segments:
Global CNC Automatic Lathes Market by Type:
Horizontal Lathe
Vertical Lathe
Global CNC Automatic Lathes Market by Application:
The global CNC automatic lathes market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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