India Lathe Machines Market Size (2024 - 2029)

The India Lathe Machines Market is experiencing growth driven by the increasing demand for advanced technology-enabled machines in the manufacturing sector. The rise in need for electric vehicles and consumer electronics has spurred the demand for sophisticated machine tools, including Swiss Type Automatic Lathes, which are essential for producing high-precision components across various industries such as defense, medical devices, and aerospace. The integration of new technologies like automation, AI, and robotics has further enhanced productivity and precision, expanding the application of machine tools. However, the high initial investment required for automatic lathe machines poses a challenge to the market's expansion.

Market Size of India Lathe Machines Industry

India Lathe Machines Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 13.43 %
Market Concentration Medium

Major Players

India Lathe Machines Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Lathe Machines Market Analysis

The India Lathe Machines Market is expected to register a CAGR of 13.43% during the forecast period.

The growing demand for advanced technology-enabled lathe machines in the manufacturing industry drives market growth.

  • The need for electric vehicles and consumer electronics has skyrocketed in recent years, which created demand for advanced machine tools across the industry. As the world's manufacturing industry continues to grow, so does the need for machine tools such as the Swiss Type Automatic Lathe Machine to manufacture finished products. As manufacturing processes become more advanced, the need for high-end machine tools with greater accuracy and precision increases.
  • Swiss-type lathes are typically more flexible, productive, and accurate than traditional lathes. The first use of Swiss-type machines was in the production of watch parts. Today, Swiss-type machines are used by companies in defense, medical devices, aerospace, electronics, and other industries. Swiss-type automatic lathes produce hydraulic valve parts, medical implants, miniature electronic connectors, watch parts, shafts, musical instrument posts, and more.
  • The machine tools industry has been significantly impacted by the emergence of new technologies, including automation, AI, and robotics. These new technologies have improved productivity, increased precision, and decreased labor costs, making machine tools more widely used in many end-user industries. For instance, India stands out as a nation committed to embracing robotic solutions. 
  • According to the International Federation of Robotics (IFR), the sales of industrial robots in India achieved an unprecedented milestone in 2021, with a staggering installation of 4,945 units. This represents a remarkable 54% growth compared to 2020, which witnessed the installation of 3,215 units. Such factors are driving opportunities for key vendors in the region.
  • A significantly high initial investment is required to deploy automatic lathe machines in manufacturing facilities as required by different industries such as automotive, consumer electronics, healthcare, IT and telecommunication, and aerospace and defense. This is restricting the growth of the lathe machine market.

India Lathe Machines Industry Segmentation

A Swiss automatic lathe is a machine that removes unwanted material from a rotating piece of cloth in chips using a device that moves across the workpiece and can be fed deep into the workpiece. These machines shape smaller parts and components for various end-user industries such as automotive, metal, aerospace, defense, and medical. It can also be used for drilling or screw machining.

The scope of the study includes the revenues accrued from the sales of Swiss-type automatic lathe machines available in the market. The Indian lathe machines market is segmented by end-user industry (automotive, aerospace and defense, general manufacturing, and metal industry). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By End-user Industry
Automotive
Aerospace and Defense
General Manufacturing
Metal Industry
Other End-user Industries
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India Lathe Machines Market Size Summary

The Indian lathe machines market is poised for significant growth, driven by the increasing demand for advanced technology-enabled machine tools in various sectors such as automotive, consumer electronics, and aerospace. The rise in electric vehicle production and the burgeoning consumer electronics industry have spurred the need for high-precision machine tools like Swiss-type automatic lathes. These machines are favored for their flexibility, productivity, and accuracy, making them essential in industries ranging from defense to medical devices. The integration of automation, AI, and robotics has further enhanced the capabilities of lathe machines, improving productivity and reducing labor costs. However, the high initial investment required for these advanced machines poses a challenge to market expansion.

The Indian manufacturing sector is undergoing a digital transformation, with Industry 4.0 technologies like IoT, AI, and blockchain playing a pivotal role in enhancing efficiency and reducing operational costs. The government's initiatives, such as the Make in India campaign, are fostering the adoption of these technologies, thereby supporting the growth of the lathe machines market. The automotive components sector, in particular, is witnessing a surge in demand for high-value-added components, driven by the country's robust vehicle production and the implementation of stringent emissions standards. This demand is expected to propel the market for Swiss automatic lathe machines, as they are crucial for manufacturing automotive shafts, bearings, and fasteners. The market is semi-consolidated, with key players like Tsugami Corporation, Mazak Corporation, and Star Micronics Co. Ltd. actively expanding their operations and product offerings to maintain a competitive edge.

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India Lathe Machines Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

      1. 1.1.1 Analyst's Commentary

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyer

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End-user Industry

      1. 2.1.1 Automotive

      2. 2.1.2 Aerospace and Defense

      3. 2.1.3 General Manufacturing

      4. 2.1.4 Metal Industry

      5. 2.1.5 Other End-user Industries

India Lathe Machines Market Size FAQs

The India Lathe Machines Market is projected to register a CAGR of 13.43% during the forecast period (2024-2029)

Tsugami Corporation, Mazak Corporation, Star Micronics Co. Ltd, DN Solutions and Laxmi Metal & Machines are the major companies operating in the India Lathe Machines Market.

India Lathe Machines Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)