At 5.1% CAGR, the Middle East & Africa Conventional Lathe Machine Market is projected to be worth US$ 51.11 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa conventional lathe machine market was valued at US$ 39.91 million in 2023 and is expected to reach US$ 51.11 million by 2028, registering a CAGR of 5.1% from 2023 to 2028. Increasing demand for aircraft and growing oil & gas industry are the critical factors attributed to the Middle East & Africa conventional lathe machine market expansion.               

The aviation sector is growing at a fast pace and will continue to grow during the forecast period. According to the International Civil Aviation Organization, the demand for air transport will increase by ~4.3% per annum over the next 20 years. Due to the rising demand for aircraft, various aircraft manufacturers are working on expanding their production lines. Therefore, rising demand for aircraft and growing initiatives by market players to further expand their aircraft production are anticipated to fuel the need for conventional lathe machines to produce plane surfaces, screw threads, airplane engines, and other parts.  

On the contrary, rising demand for CNC lathe machines hurdles the growth of Middle East & Africa conventional lathe machine market.

Based on spindle orientation, the Middle East & Africa conventional lathe machine market is segmented into horizontal and vertical. The horizontal segment held 83.7% share of Middle East & Africa conventional lathe machine market in 2023, amassing US$ 33.41 million. It is projected to garner US$ 43.23 million by 2028 to expand at 5.3% CAGR during 2023–2028.

Based on number of axis, the Middle East & Africa conventional lathe machine market is segmented into 2 and 3. The 2 segment held 55.7% share of Middle East & Africa conventional lathe machine market in 2023, amassing US$ 22.23 million. It is projected to garner US$ 27.60 million by 2028 to expand at 4.4% CAGR during 2023–2028.  

Based on end-user, the Middle East & Africa conventional lathe machine market is segmented into automotive, general machinery, aerospace, electronics, oil & gas, and others. The oil & gas segment held 30.6% share of Middle East & Africa conventional lathe machine market in 2023, amassing US$ 12.22 million. It is projected to garner US$ 16.89 million by 2028 to expand at 6.7% CAGR during 2023–2028.  

Based on lathe type, the Middle East & Africa conventional lathe machine market is segmented into universal lathe and oil country lathe. The oil country lathe segment held 51.2% share of Middle East & Africa conventional lathe machine market in 2023, amassing US$ 20.43 million. It is projected to garner US$ 26.55 million by 2028 to expand at 5.4% CAGR during 2023–2028.  

Based on country, the Middle East & Africa conventional lathe machine market is segmented into South Africa, Saudi Arabia, the UAE, Turkey, Kenya, Ethiopia, Nigeria, Egypt, Morocco, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 21.9% share of Middle East & Africa conventional lathe machine market in 2023. It was assessed at US$ 8.72 million in 2023 and is likely to hit US$ 11.64 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.  

Key players profiles in the Middle East & Africa conventional lathe machine market report CNC-TAKANG Co Ltd, Colchester Machine Tool Solutions Ltd, GDW Werkzeugmaschinen Herzogenaurach GMBH, ITAMA Srl, Knuth Werkzeugmaschinen GmbH, Optimum Maschinen GmbH, and Romi Machine Tools Ltd, among others.

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