The Asia Pacific conventional lathe machine market was valued at US$ 388.17 million in 2023 and is expected to reach US$ 642.18 million by 2028. It is estimated to register a CAGR of 10.6% from 2023 to 2028.
Increasing Production of Automotive Vehicles Drive Asia Pacific Conventional Lathe Machine Market
The automobile industry is a pillar of the economy. As per the data published by the International Organization of Motor Vehicle Manufacturers (OICA), in 2022, 85.01 million units of vehicles were produced worldwide, which showed an increase of 6% compared to 2021. Out of this, ~60% of the vehicles were produced in Asia Pacific, accounting for ~50.02 million units. The growing automotive industry is boosting the demand for conventional lathe machines to produce different parts of vehicles, such as engines, transmissions, brake discs, and other components. Also, the machines are used for the production of brake discs. Moreover, the machine is used to develop electric hand brakes and power windows in vehicles. Hence, the growing production of automotive vehicles is boosting the growth of the Asia Pacific conventional lathe machine market.
Asia Pacific Conventional Lathe Machine Market Overview
The Asia Pacific conventional lathe machine market in Asia Pacific (APAC) is segmented into China, India, Japan, Australia, South Korea, Taiwan, Vietnam, and the Rest of APAC. Asia Pacific is one of the biggest producers of general machinery, which includes machines such as engines, compressors, fans, pumps, and electric motors, for different industries, including agricultural, industrial, manufacturing, and others. To further expand the production of the above machinery, governments of various countries are taking different initiatives to expand their manufacturing sector. For example, the government of India introduced Goods and Services Tax, interventions to improve ease of doing business, reduction in corporate tax, FDI policy reforms, policy measures to boost domestic manufacturing through public procurement orders, measures for reduction in compliance burden, Phased Manufacturing Program (PMP), and many other initiatives. Thus, such growing initiatives can boost the need for conventional lathe machines as they are used to process different parts of the above general machinery. Furthermore, Asia Pacific is the biggest producer of automobiles. According to the OICA, in 2022, the region produced ~50.02 million motor vehicles, which account for approximately 60% of the total motor vehicles produced worldwide. Out of this, ~54%, i.e., 27.02 million motor vehicles, are produced in China. In addition, the growing inclination and awareness among the people toward electric vehicles are increasing their production in the region. According to the International Energy Agency (IEA), in 2021, out of the electric vehicle (EV) sales across the world, China accounted for half of the total growth. Furthermore, ~3.3 million EVs were sold in China in 2021, which was more than the total EV sales in the world in 2020. Hence, the growing automotive industry in the region is raising the demand for conventional lathe machines as it is used in the production of different automotive parts, including brakes, engine parts, and other components. Thus, all the above factors are fueling the growth of the Asia Pacific conventional lathe machine market.
Asia Pacific Conventional Lathe Machine Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Conventional Lathe Machine Market Segmentation
The Asia Pacific conventional lathe machine market is segmented into spindle orientation, number of axis, end-user, lathe type, and country.
Based on spindle orientation, the Asia Pacific conventional lathe machine market is segmented into horizontal and vertical. In 2023, the horizontal segment held the larger share of the Asia Pacific conventional lathe machine market.
Based on number of axis, the Asia Pacific conventional lathe machine market is segmented into 2 and 3. In 2023, the 2 segment held the larger share of the Asia Pacific conventional lathe machine market.
Based on end-user, the Asia Pacific conventional lathe machine market is segmented into automotive, general machinery, aerospace, electronics, oil & gas, and others. In 2023, the automotive segment held the largest share of the Asia Pacific conventional lathe machine market.
Based on lathe type, the Asia Pacific conventional lathe machine market is segmented into universal lathe and oil country lathe. In 2023, the universal lathe segment held the larger share of the Asia Pacific conventional lathe machine market.
Based on country, the Asia Pacific conventional lathe machine market is segmented into Australia, China, India, Japan, South Korea, Taiwan, Vietnam, and the Rest of APAC. In 2023, China accounted for the largest share of the Asia Pacific conventional lathe machine market.
Annn Yang Machinery Co Ltd, CNC-TAKANG Co Ltd, Colchester Machine Tool Solutions Ltd, GDW Werkzeugmaschinen Herzogenaurach GMBH, ITAMA Srl, Knuth Werkzeugmaschinen GmbH, L&L Machinery Industry Co Ltd, Myday Machinery Inc, Optimum Maschinen GmbH, Romi Machine Tools Ltd, Summit Machine Tool LLC, and Win Ho Technology Industrial Co Ltd are the leading companies operating in the Asia Pacific conventional lathe machine market.
The List of Companies - Asia Pacific Conventional Lathe Machine Market
● Annn Yang Machinery Co Ltd
● CNC-TAKANG Co Ltd
● Colchester Machine Tool Solutions Ltd
● GDW Werkzeugmaschinen Herzogenaurach GMBH
● ITAMA Srl
● Knuth Werkzeugmaschinen GmbH
● L&L Machinery Industry Co Ltd
● Myday Machinery Inc
● Optimum Maschinen GmbH
● Romi Machine Tools Ltd
● Summit Machine Tool LLC
● Win Ho Technology Industrial Co Ltd
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Conventional Lathe Machine Market Landscape
4.1 Market Overview
4.2 Asia Pacific PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Asia Pacific Conventional Lathe Machine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Production of Automotive Vehicles
5.1.2 Growing Oil & Gas Industry
5.2 Market Restraints
5.2.1 Rising Demand for CNC Lathe Machines
5.3 Market Opportunities
5.3.1 Increasing Demand for Aircraft
5.4 Future Trends
5.4.1 Growing General Machinery Manufacturing Industry
5.5 Impact Analysis of Drivers and Restraints
6. Conventional Lathe Machine Market – Asia Pacific Market Analysis
6.1 Asia Pacific Conventional Lathe Machine Market Overview
6.2 Asia Pacific Conventional Lathe Machine Market Revenue Forecast and Analysis
7. Asia Pacific Conventional Lathe Machine Market Analysis – By Spindle Orientation
7.1 Overview
7.2 Asia Pacific Conventional Lathe Machine Market, By Spindle Orientation (2022 and 2028)
7.3 Horizontal
7.3.1 Overview
7.3.2 Horizontal: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Vertical
7.4.1 Overview
7.4.2 Vertical: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Conventional Lathe Machine Market Analysis – By Number of Axis
8.1 Overview
8.2 Asia Pacific Conventional Lathe Machine Market, By Number of Axis (2022 and 2028)
8.3 2
8.3.1 Overview
8.3.2 2: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
8.4 3
8.4.1 Overview
8.4.2 3: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Conventional Lathe Machine Market Analysis – By End-User
9.1 Overview
9.2 Asia Pacific Conventional Lathe Machine Market, By End-User (2022 and 2028)
9.3 Automotive
9.3.1 Overview
9.3.2 Automotive: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
9.4 General Machinery
9.4.1 Overview
9.4.2 General Machinery: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
9.5 Aerospace
9.5.1 Overview
9.5.2 Aerospace: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
9.6 Electronics
9.6.1 Overview
9.6.2 Electronics: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
9.7 Oil & Gas
9.7.1 Overview
9.7.2 Oil & Gas: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Conventional Lathe Machine Market Analysis – By Lathe Type
10.1 Overview
10.2 Asia Pacific Conventional Lathe Machine Market, By lathe Type (2022 and 2028)
10.3 Universal Lathe
10.3.1 Overview
10.3.2 Universal Lathe: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
10.4 Oil Country Lathe
10.4.1 Overview
10.4.2 Oil Country Lathe: Asia Pacific Conventional Lathe Machine Market- Revenue and Forecast to 2028 (US$ Million)
11. Asia Pacific Conventional Lathe Machine Market – Country Analysis
11.1 Overview
11.1.1 Asia Pacific: Conventional Lathe Machine Market, by Key Country
11.1.1.1 Australia: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Australia: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.1.2 Australia: Conventional Lathe Machine Market, by Number of Axis
11.1.1.1.3 Australia: Conventional Lathe Machine Market, by End-User
11.1.1.1.4 Australia: Conventional Lathe Machine Market, by Lathe Type
11.1.1.2 China: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 China: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.2.2 China: Conventional Lathe Machine Market, by Number of Axis
11.1.1.2.3 China: Conventional Lathe Machine Market, by End-User
11.1.1.2.4 China: Conventional Lathe Machine Market, by Lathe Type
11.1.1.3 India: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 India: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.3.2 India: Conventional Lathe Machine Market, by Number of Axis
11.1.1.3.3 India: Conventional Lathe Machine Market, by End-User
11.1.1.3.4 India: Conventional Lathe Machine Market, by Lathe Type
11.1.1.4 Japan: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Japan: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.4.2 Japan: Conventional Lathe Machine Market, by Number of Axis
11.1.1.4.3 Japan: Conventional Lathe Machine Market, by End-User
11.1.1.4.4 Japan: Conventional Lathe Machine Market, by Lathe Type
11.1.1.5 South Korea: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 South Korea: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.5.2 South Korea: Conventional Lathe Machine Market, by Number of Axis
11.1.1.5.3 South Korea: Conventional Lathe Machine Market, by End-User
11.1.1.5.4 South Korea: Conventional Lathe Machine Market, by Lathe Type
11.1.1.6 Taiwan: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Taiwan: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.6.2 Taiwan: Conventional Lathe Machine Market, by Number of Axis
11.1.1.6.3 Taiwan: Conventional Lathe Machine Market, by End-User
11.1.1.6.4 Taiwan: Conventional Lathe Machine Market, by Lathe Type
11.1.1.7 Vietnam: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.7.1 Vietnam: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.7.2 Vietnam: Conventional Lathe Machine Market, by Number of Axis
11.1.1.7.3 Vietnam: Conventional Lathe Machine Market, by End-User
11.1.1.7.4 Vietnam: Conventional Lathe Machine Market, by Lathe Type
11.1.1.8 Rest of APAC: Conventional Lathe Machine Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.8.1 Rest of APAC: Conventional Lathe Machine Market, By Spindle Orientation
11.1.1.8.2 Rest of APAC: Conventional Lathe Machine Market, by Number of Axis
11.1.1.8.3 Rest of APAC: Conventional Lathe Machine Market, by End-User
11.1.1.8.4 Rest of APAC: Conventional Lathe Machine Market, by Lathe Type
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Myday Machinery Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Romi Machine Tools Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Colchester Machine Tool Solutions Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Knuth Werkzeugmaschinen GmbH
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Optimum Maschinen GmbH
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Win Ho Technology Industrial Co Ltd
13.6.1 Key Facts
13.6.1.1 Business Description
13.6.2 Products and Services
13.6.3 Financial Overview
13.6.4 SWOT Analysis
13.6.5 Key Developments
13.7 ITAMA Srl
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 CNC-TAKANG Co Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 GDW Werkzeugmaschinen Herzogenaurach GMBH
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Summit Machine Tool LLC
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 L&L Machinery Industry Co Ltd
13.11.1 1.13.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Annn Yang Machinery Co Ltd
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES.
Table 1. Asia Pacific Conventional Lathe Machine Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 9. China: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 12. India: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 13. India: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 15. Japan: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 16. Japan: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 17. Japan: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 18. South Korea: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 19. South Korea: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 20. South Korea: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 21. South Korea: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 22. Taiwan: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 23. Taiwan: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 24. Taiwan: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 25. Taiwan: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 26. Vietnam: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 27. Vietnam: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 28. Vietnam: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 29. Vietnam: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 30. Rest of APAC: Conventional Lathe Machine Market, By Spindle Orientation – Revenue and Forecast to 2028 (US$ Million)
Table 31. Rest of APAC: Conventional Lathe Machine Market, by Number of Axis – Revenue and Forecast to 2028 (US$ Million)
Table 32. Rest of APAC: Conventional Lathe Machine Market, by End-User – Revenue and Forecast to 2028 (US$ Million)
Table 33. Rest of APAC: Conventional Lathe Machine Market, by Lathe Type – Revenue and Forecast to 2028 (US$ Million)
Table 34. List of Abbreviation
