Los Angeles, CA -- (SBWire) -- 09/24/2021 --QY Research predicts the global lathe machines market to grow at a healthy CAGR due to the strong demand for computer numerical control lathe machines in sporting, firearm manufacturing, aerospace, electronics, and automotive industries. Titled "Global Lathe Machines Market Survey and Forecast Report 2019," a report prepared by QY Research provides in-depth assessment of critical market dynamics, regional markets, market competition, and key segments of the global lathe machines market.

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Increasing Establishment of Smart Factories to Create Sales Opportunities for Manufacturers

The global demand for lathe machines is likely to improve as manufacturers continue to introduce IoT-enabled and automated products offering better efficiency and use in key applications. Growing need for smart factories and demand for Industry 4.0 solutions could positively impact the global lathe machines market in future. Furthermore, the need for reduced operational cost and waste generation, high efficiency, and increased production in the global manufacturing sector is expected to strengthen the demand for lathe machines in future.

Growing Rate of Production of Automobile Parts to Increase Demand in Automotive Applications

The global lathe machines market is segmented into horizontal lathe and vertical lathe on the basis of type. The research analysts authoring the report have also segmented the global lathe machines market based on application. Key applications presented in the report are medical device, machinery, automotive, and others. Among these, automotive is predicted to secure a commanding share of the global lathe machines market on the back of the increasing production of vehicle parts such as disk brakes, gear boxes, and engine cylinder heads.

Government Initiatives Promoting Industrialization and Manufacturing to Benefit Asia Pacific

Asia Pacific is expected to create significant demand for lathe machines in the coming years. This could be due to the high growth of the lathe machines market in India and China. Robust industrialization growth, high demand for automobiles, and government initiatives focused on the manufacturing sector such as Make in India are anticipated to add to the growth of the Asia Pacific lathe machines market. On the other hand, China has a strong continuous requirement for advanced machinery and equipment, which could create opportunities for lathe machine manufacturers in the country.

Players to Focus on Smart Technology to Improve Sales in Global Lathe Machines Market

Some of the key manufacturers competing in the global lathe machines market are Yamazaki Mazak, SMTCL, DMG Mori Seiki, SAMAG, TRUMPF, Mitsubishi Heavy Industries, AMADA, NAGEL, Okuma Corporation, Schutte, MAG, TORNOS, JTEKT Corporation, Chiron, Schuler, GF Machining Solutions, Hardinge Group, Haas Automation, HERMLE, Emag, Hurco, Hyundai WIA, GROB, Doosan Infracore, KOMATSU, Makino, Gleason, INDEX, Körber Schleifring, and Bystronic. Lathe machine manufacturers are expected to invest in the development of multitask and smart products to attract new consumers.

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QYResearch established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert's resources (included energy automotive chemical medical ICT consumer goods etc.