Lathe Machines Market Report, published by Allied Market Research, forecasts that the global lathe machines market size was estimated to be $9,925 million in 2015, and is expected to reach $12,012 million by 2022, growing at a CAGR of 2.6%. Learn details of the Opportunity, Analysis and Forecasts to 2022.
Global lathe machines market size was valued at $9,925 million in 2015. The lathe machines market is projected to grow at a CAGR of 2.6% and is forecast to reach $12,012 million by 2022.
The Automotive segment is expected to dominate the end-user sector in the global lathe machines market from 2015 to 2022. Asia-Pacific dominated with 43.8% of the global lathe machines market share in 2015.
Lathe machines are one of the most important machine tools used in the metal-working industry and are considered as powerful metal shaping machine tools. They transform the unfinished metal sheet into a variety of finished metal products, precise machine components, automotive spares, and body parts.
Lathe machines include metal cutting tools that create desired product from metal sheets by scraping the unwanted metal.