At 8.1% CAGR, the Europe Conventional Lathe Machine Market is projected to be worth US$ 446.61 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe conventional lathe machine market was valued at US$ 302.04 million in 2023 and is expected to reach US$ 446.61 million by 2028, registering a CAGR of 8.1% from 2023 to 2028. Growing oil & gas industry and increasing production of automotive vehicles are the critical factors attributed to the Europe conventional lathe machine market expansion.               

In the oil & gas industry, various components such as metallic pieces, engine shafts, sucker rods, stanchions, bolts, and nuts are used in oil drilling and exploration. Here, the lathe machine is used for the production of the above components for quick replacements if there is any equipment damage at the oil field during exploration. In addition, in oil fields, there is often a breakdown of piping systems causing machine tool manufacturers to work strategically to deal with this problem. Here, conventional lathes are used to handle very large diameter pipes as those in the drilling and conveyance sections. The constant need to repair and maintain piping and conveyance systems is increasing the demand for conventional lathe machines across oil fields. Furthermore, the growing oil exploration industry is fueling the market's growth. Thus, the growing oil & gas industry is expected to fuel the growth of the Europe conventional lathe machine market.  

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

Based on spindle orientation, the Europe conventional lathe machine market is segmented into horizontal and vertical. The horizontal segment held 86.8% share of Europe conventional lathe machine market in 2023, amassing US$ 262.08 million. It is projected to garner US$ 390.87 million by 2028 to expand at 8.3% CAGR during 2023–2028.

Based on number of axis, the Europe conventional lathe machine market is segmented into 2 and 3. The 2 segment held 55.2% share of Europe conventional lathe machine market in 2023, amassing US$ 166.72 million. It is projected to garner US$ 240.74 million by 2028 to expand at 7.6% CAGR during 2023–2028.  

Based on end-user, the Europe conventional lathe machine market is segmented into automotive, general machinery, aerospace, electronics, oil & gas, others. The automotive segment held 39.2% share of Europe conventional lathe machine market in 2023, amassing US$ 118.49 million. It is projected to garner US$ 187.75 million by 2028 to expand at 9.6% CAGR during 2023–2028.  

Based on lathe type, the Europe conventional lathe machine market is segmented into universal lathe and oil country lathe. The universal lathe segment held 82.8% share of Europe conventional lathe machine market in 2023, amassing US$ 250.14 million. It is projected to garner US$ 374.61 million by 2028 to expand at 8.4% CAGR during 2023–2028. 

Based on country, the Europe conventional lathe machine market is segmented into Germany, France, Italy, the UK, Spain, and the Rest of Europe. Our regional analysis states that the UK captured 23.6% share of Europe conventional lathe machine market in 2023. It was assessed at US$ 71.23 million in 2023 and is likely to hit US$ 115.05 million by 2028, exhibiting a CAGR of 10.1% during the forecast period.  

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

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