At 9.4% CAGR, the North America Conventional Lathe Machine Market is projected to be worth US$ 293.97 million by 2028, says Business Market Insights

According to Business Market Insights research, the North America conventional lathe machine market was valued at US$ 187.43 million in 2023 and is expected to reach US$ 293.97 million by 2028, registering a CAGR of 9.4% from 2023 to 2028. Increasing production of automotive vehicles and increasing demand for aircraft are the critical factors attributed to the North America conventional lathe machine market expansion.               

The automobile industry is a pillar of the economy. In 2023, countries in North America produced ~14.80 million units of vehicles, showcasing a growth of 10% compared to 2021. The growing automotive industry is boosting the demand for conventional lathe machines to produce different parts of vehicles, such as engines, transmissions, brake discs, and other components. Also, the machines are used for the production of brake discs. Moreover, the machine is used to develop electric hand brakes and power windows in vehicles. Hence, the growing production of automotive vehicles is boosting the growth of the North America conventional lathe machine market.  

On the contrary, rising demand for CNC lathe machines hurdles the growth of North America conventional lathe machine market.

Based on spindle orientation, the North America conventional lathe machine market is segmented into horizontal and vertical. The horizontal segment held 86.3% share of North America conventional lathe machine market in 2023, amassing US$ 161.83 million. It is projected to garner US$ 256.24 million by 2028 to expand at 9.6% CAGR during 2023–2028.

Based on number of axis, the North America conventional lathe machine market is segmented into 2 and 3. The 2 segment held 56.0% share of North America conventional lathe machine market in 2023, amassing US$ 104.88 million. It is projected to garner US$ 161.08 million by 2028 to expand at 9.0% CAGR during 2023–2028.  

Based on end-user, the North America conventional lathe machine market is segmented into automotive, general machinery, aerospace, electronics, oil & gas, others. The automotive segment held 36.7% share of North America conventional lathe machine market in 2023, amassing US$ 68.80 million. It is projected to garner US$ 115.43 million by 2028 to expand at 10.9% CAGR during 2023–2028.  

Based on lathe type, the North America conventional lathe machine market is segmented into universal lathe and oil country lathe. The universal lathe segment held 80.9% share of North America conventional lathe machine market in 2023, amassing US$ 151.69 million. It is projected to garner US$ 241.46 million by 2028 to expand at 9.7% CAGR during 2023–2028.  

Based on country, the North America conventional lathe machine market is segmented into the U.S., Canada, Mexico. Our regional analysis states that the U.S. captured 46.5% share of North America conventional lathe machine market in 2023. It was assessed at US$ 87.21 million in 2023 and is likely to hit US$ 141.58 million by 2028, exhibiting a CAGR of 10.2% during the forecast period.  

Key players profiles in the North America conventional lathe machine market report Annn Yang Machinery Co Ltd, CNC-TAKANG Co Ltd, Colchester Machine Tool Solutions Ltd, GDW Werkzeugmaschinen Herzogenaurach GMBH, International Machinery Co, ITAMA Srl, Knuth Werkzeugmaschinen GmbH, L&L Machinery Industry Co Ltd, Romi Machine Tools Ltd, Summit Machine Tool LLC, and Win Ho Technology Industrial Co Ltd, among others.

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