Industry Background:
Copying lathe, a semi-automatic machine which produces various components in huge quantities across numerous manufacturing industries. It is widely used in metalworking for creating specific shape and dimensions from a template of the required object. Additionally, Copying lathes are used in series and mass production of patterned furniture pieces, complex casting patterns, profiled cams, eccentrics, templates, and matrices.This growth is primarily driven by Increasing Automobile Production and Growth in the Demand from End-Use Industries and Increasing Awareness About Quality, Market Players have Started Automating their Production Processes Globally.
Globally, a noticeable market trend is evident The Advent of Industry 4.0 and Increasing Automation Across the Various Industry Verticals. Major Manufacturers, such as ATA Group (Ireland), B.g. Bertuletti (Italy), Bordo Industrial Pty Ltd. (Australia), Winstar Cutting Technologies Corp (Taiwan), Guhring Inc. (United States), HAM Precision Tools (United States), Mitsubishi Hitachi Tool Engineering Ltd (Japan), DC SWISS SA (Switzerland), DIAGER INDUSTRIE (France), DIXI Polytool (Switzerland), Dongguan Koves Cutting Tool (China), Dorian Tool International (United States), Dormer Pramet (Czech Republic) and Echaintool Precision Co. Ltd. (Taiwan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
Supply of Machinery (Safety) Regulations 2008, as amended by the Supply of Machinery (Safety) (Amendment) Regulations 2011. These regulations require all machines placed on the market in the EU to carry a CE mark as described by the European Machinery Directive 2006/42/EC.
Market Drivers
- Increasing Automobile Production and Growth in the Demand from End-Use Industries
- Increasing Awareness About Quality, Market Players have Started Automating their Production Processes Globally
Market Trend
- The Advent of Industry 4.0 and Increasing Automation Across the Various Industry Verticals
Restraints
- Availability of Substitute
Opportunities
Growing Need for Smart and Sustainable Manufacturing Sector and Adoption of Computer Numerical Controlled (CNC) Lathe Machines
Challenges
Economic Slowdown and Uncertainty in the Manufacturing Sector Globally
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