CNC Lathe Machine Market – Detailed Analysis of Current Industry Figures with Forecasts Growth By 2030

Posted on 2021-02-25 by Future Market Insights, Inc in Internet & Online // 0 Comments

CNC (Computer Numerical Control) lathe machine is an automated machine which rotates a workpiece on a spindle to cut away excess material in order to produce quality pieces at a high rate. These CNC lathe machines are widely used in multiple industries such as automotive, electronics, machinery, and manufacturing to name a few. Industries require a variety of parts in different shapes and sizes for smooth functioning, consequently, raising the requirement for CNC lathe machines in the market. Moreover, the leading CNC lathe machines manufactures are constantly developing their machines to provide the required preciseness even for complex parts and components which, in turn, is anticipated to witness significant growth of the market.

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The outbreak of COVID-19 has become a global crisis causing serious hindrance to the business economy of the world. The global industry is facing a rapid slowdown in operations or has imposed shutdown of their manufactories which has caused disruption in the import and export of CNC lathe machines. This has witnessed a marginal decline in the sales of machines and created a severe impact on the CNC lathe machine market.

However, with the positive outlook from automotive industry and the expected rise in the production of automobiles coupled with the growth in manufacturing sector is foreseen to propel the demand for CNC lathe machines. At the same time, prominent manufactures are determining different ways to deal with the possible supply chain disruption in the global CNC lathe machines market. Thus, it is estimated that global demand for CNC lathe machine is estimated to go under significant recovery by the first quarter of 2021.

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CNC Lathe Machine Market: Market Segmentation

For a better understanding, global CNC lathe machine market is being studied under product, prime mover type, capacity, application & Region.

Based on the type, the CNC lathe machine market can be segmented as:

CNC Vertical Lathe
CNC Horizontal Lathe

Based on the end use, the CNC lathe machine market can be segmented as:

Automotive & Transportation
Electrical & Electronics
Machinery
General Manufacturing
Others

Based on the region, the CNC lathe machine market can be segmented as:

North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa (MEA)

Regional Analysis: Asia to Remain Frontrunner in CNC Lathe Machine Market

The growth in industrialization coupled with high automotive demand anticipated after the recovery of COVID-19 in the region is foreseen to create significant demand for CNC lathe machine market. Moreover, optimistic industrial growth has been witnessed in emerging Asian countries such as China, India, and ASEAN countries which are expected to propel the growth of the market. This, in turn, will pave way for significant opportunities for the CNC lathe machine manufactures in the Asia Pacific region.

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