As per the report published by Market Research Place, the global CNC automatic lathes market is expected to grow from USD 491.38 million in 2021 to USD 864.62 million by 2030, at a CAGR of 6.48% during the forecast period 2022-2030.Get more news about Automatic Cnc Lathe,you can vist our website!
CNC Automatic Lathes demand is increasing due to its lathe processing advantages. As these have an ideal design of cutting speed and feed, their cost is relatively low, and the unit cost will be decreased in a few diverse production modes, particularly when the finished product's shape is complex and fine. The well-designed program helps use the machine tools at different times and places. For producing the same product, there is no requirement for redesigning, and therefore it decreases the upfront cost and preparation time. The adaptive control helps in maintaining the machine tool in the best production conditions and helps in extending its life.
To enhance their market position in the global CNC Automatic Lathes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The constant growth of the macroeconomy and industrial output value propels the market. There is also a rise and shift in demand from downstream industry for CNC high precision machine tools. There is a surge in CNC automatic systems' adoption as adequate regulations support CNC high-precision machine tools. The recent trend propelling the market's growth is a high speed, intelligence, high precision-oriented, technology integration, and product diversification. The manufacturers are looking to reduce their delivery time by upgrading their automation level to improve their product quality.
The type segment is divided into the horizontal lathe and vertical lathe. In 2021, the horizontal lathe segment dominated the market with the largest market share of 82% and market revenue of 402.93 million. A horizontal lathe is a machine tool designed to cut different profiles in revolving steel or wood workpiece. These are broadly used in high precision machining operations. These are available in a broad range of sizes and designs. These have grown significantly with the introduction of new materials. These are used in various ways and with many choices of materials.
The application segment is divided into the shipping industry, automobile industry, equipment manufacturing industry, and others. In 2021, the automobile industry segment accounted for the largest share of the market, with 35% and market revenue of around 172 million. This is generally attributed to the advanced development of the downstream industries like automobiles and electronic products. These tools are available with a wide range of specifications in order to meet a comprehensive range of machining solutions.