Conventional Lathe Machine Market Size Worth $1.473 Billion by 2028 with 9.2% CAGR During 2023-2028 | Global Analysis by The Insight Partners

Pune,India, June 21, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Conventional Lathe Machine Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis – by Spindle Orientation, Number of Axis, End-User, Lathe Type, and Geography”, the market is expected to grow from USD 0.949 billion in 2023 to US$ 1.473 billion by 2028; it is estimated to register a CAGR of 9.2% from 2023 to 2028.

 https://www.globenewswire.com/news-release/2023/6/21/2692235/0/en/Conventional-Lathe-Machine-Market-Size-Worth-1-473-Billion-by-2028-with-9-2-CAGR-During-2023-2028-Global-Analysis-by-The-Insight-Partners.html

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Global Conventional Lathe Machine Market Report Scope, Segmentations, Regional & Country Scope:

Market Size Value inUSD 0.949 Billion in 2023
Market Size Value byUSD 1.473 Billion by 2028
Growth rateCAGR of 9.2% from 2023 to 2028
Forecast Period2023-2028
Base Year2023
No. of Pages209
No. of Tables142
No. of Charts & Figures97
Historical data availableYes
Segments coveredSpindle Orientation, Number of Axis, End-User, and Lathe Type
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Companies CoveredMyday Machinery Inc.; Romi Machine Tools, Ltd.; Colchester Machine Tools Solutions; Pinacho; KNUTH Werkzeugmaschinen GmbH; OPTIMUM MASCHINEN; WINHO TECHNOLOGY INDUSTRIAL CO., LTD.; COMEV S.P.A.; ITAMA; CNC-TAKANG CO., LTD, GDW Werkzeugmaschinen GmbH; Summit Machine Tool; L and L Machinery Industry Co., Ltd.; International Machinery, Co; and Annn Yang.


Browse key market insights spread across 209 pages with 142 list of tables & 97 list of figures from the report, "Conventional Lathe Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis – by Spindle Orientation (Horizontal and Vertical), Number of Axis (2 and 3), End-User (Automotive, General Machinery, Aerospace, Electronics, Oil & Gas, Others), Lathe Type (Universal Lathe and Oil Country Lathe), and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/conventional-lathe-machine-market


Global Conventional Lathe Machine Market: Competitive Landscape and Key Developments

Knuth Werkzeugmaschinen GmbH, Colchester Machine Tool Solutions Ltd, Summit Machine Tool LLC, L&L Machinery Industry Co Ltd, and Metalurgica Torrent SA. are among the key conventional lathe machine market players profiled in the study.

In 2022: Romi launched the C 1100H heavy-duty flatbed lathe, designed for machining large parts. It features a monoblock cast iron bed for enhanced rigidity and accuracy. The lathe also includes a cast iron headstock with Timken bearings, a coolant and lubricating system with sensors, and a high-torque AC motor for efficient operation.

Speak to Research Expert: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00029909

The conventional lathe machine is used for holding and turning different types of materials, such as metal, wood, plastic, and other composite materials, against a cutting tool to give the required shape to an object. The machine consists of a workpiece, chuck, tool post, single-point cutting tool, and many other parts which help perform various operations, such as turning and cutting. Conventional lathe machines are used to create several wooden objects such as wooden furniture and sports goods.

The growing production and sales of automotive vehicles worldwide are raising the demand for conventional lathe machines as they help in the production of automobile parts such as disc brakes and engine parts. In 2022, according to the International Organization of Motor Vehicle Manufacturers (OICA) statistics, 85.01 million units of vehicles were produced worldwide. Further, it is also seen that the demand for electric vehicles is increasing worldwide. According to the International Energy Agency (IEA), in 2022, more than 10 million electric cars were sold worldwide. Thus, the increase in production and sales of vehicles is fueling the market growth. Similarly, the rise in oil exploration activities is boosting the demand for conventional lathe machines as they help in the production of metallic pieces, engine shafts, sucker rods, and other oil exploration components for quick replacement in the oil field. Hence, the growing oil & gas industry is boosting the growth of the conventional lathe machine market.


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