India Lathe Machines Market Size (2024 - 2029)

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.