Press release
The Effects of the COVID-19 Outbreak On Heavy Duty Lathe Machine Market
Heavy Duty Lathe Machine Market: IntroductionA heavy duty lathe machine is a significant machine tool used to make components and parts of desired size and shape from different materials such as steel, iron, metal alloys, and wood. Various operations conducted on the machine include boring, facing, drilling, turning, chamfering, threading, and grooving. Major parts of heavy duty lathe machines include the bed, headstock, tailstock, and carriage. Manufacturers of lathe machines offer standard products as well as customized machines depending on the requirements of end-use industries.
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Key Drivers of the Global Heavy Duty Lathe Machine Market
Rapid industrialization and increasing use of heavy duty lathe machines for high-end industrial operations is estimated to drive their demand. Low maintenance machines with automatic operation systems are experiencing strong demand across automotive and power generation industries.
Also, manufacturing companies are increasingly investing in CNC (Computer Numerical Control) machines to enhance the production capacity. End-use industries prefer low maintenance and high performance machines to perform a range of machining activities.
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Opportunities in the Global Heavy Duty Lathe Machine Market
The expansion of potential industries such as automotive, paper mills, and power generation is anticipated to offer significant growth opportunities for the heavy duty lathe machine market. Automotive industry requires bulk production of certain components and involves batch production systems to produce different parts at regular intervals.
Asia Pacific Recognized as the Major Market for Heavy Duty Lathe Machines
By geography, the global market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
Asia Pacific is witnessing strong investment across various industries to expand the local manufacturing base. Moreover, governments across major countries such as India and China are promoting the establishment of startups to enhance economic development and international trade.
Key Players Operating in the Global Market
Robust investment in research and development projects and adoption of latest technology are the key business strategies of industry participants. Moreover, manufacturers are using advanced raw materials for machine fabrication to improve efficiency and overall performance. Collaborations and partnerships with international dealers and distributors enables effective sales and marketing in overseas markets.
In December 2018, Yamazaki Mazak Germany announced partnership with Orderfox.com to enable the purchase of used and new CNC machines on the Orderfox.com machinery exchange platform.
Some of the major companies identified in the global heavy duty lathe machine market are:
Vinit Engimech Pvt Ltd.
Yamazaki Mazak Pvt. Ltd.
BANKA Machine
Dalian Machine Tool Corporation
DMG Mori Seiki Co., Ltd.
Okuma Corporation
TDT Machine Tools Ltd
Samsung Machine Tools
Esskay International Machine Tools,
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