Lathe machine are used for performing various operations such as drilling, cutting, sanding, and knurling among others. Further, the lathe machine is used to shape multiple workpieces to create a symmetrical work object. The machines have a wide range of applications like metalworking, woodturning, metal spinning, thermal spraying and glass working among other industrial applications.
The lathe machine market is experiencing high demand due to rise in the demand from manufacturing and automotive sector. The company's manufacturing these machines are focusing on the development of more efficient and less energy consuming machines to stay competitive in the market and subsequently attract more customers. Factors such as increasing demand from the automotive sector and growing industries in emerging economies are the major factors expected to drive the growth of lathe machine market. However, the high cost of maintenance is the primary factor that is anticipated to hinder the growth of lathe machine market.
