PUNE, India, December 21, 2016 /PRNewswire/ --
The global lathe machine market to grow steadily during the forecast period and post an impressive revenue of more than USD 12 billion by 2020. The analysts forecast global lathe machine market to grow at a CAGR of 1.97% during the period 2016-2020.
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According to the lathe machine market report, the growing demand for superior-quality products has propelled companies to undertake automation in manufacturing. Investment in global process automation is continuing to grow at 6% and is projected to reach $120 billion by 2019. This growth is focused on areas such as technology, hardware, software, services, and the communication protocol used for automation.
The following companies are the key players in the global lathe machine market: DMTG, DMG Mori, Yamazaki Mazak, Okuma, and Samsung Machine Tools. Other prominent vendors in the market are: Strojimport, Hurco, JTEKT Toyoda Americas Corporation, Ajax Machine Tools, Haas Automation, HMT Machine Tools, American Machine Tools, Heavy Engineering Corporation, Doosan Machine Tools, Hangzhou Datian CNC Machine Tool Corporation, Ace Micromatic, Batliboi, Nakamura-Tome Precision Industry, HYUNDAI WIA Machine Tools, Jinn Fa Machine, Bolton Group, JARNG YEONG ENTERPRISE, EMCO, Victor Machinery Solutions, Kent Industrial, Jyoti CNC Automation, Feeler (FAIR FRIEND GROUP), CHIAH CHYUN MACHINERY CO., PROMPT INTEGRATED TECHNOLOGY, CHIAH CHYUN MACHINERY CO., Amera-Seiki, GOODWAY MACHINE, Yama Seiki, YEONG CHIN MACHINERY INDUSTRIES CO., TSUGAMI CORPORATION, EMAG, HURON GRAFFENSTADEN, INTELITEK, Fadal Engineering, LEADWELL CNC MACHINES MFG, TrensHWACHEON, Methods Machine Tools, MILLTRONICS, Murata, Fryer Machine Systems, HASEGAWA MACHINE WORKS, O-M Ltd. Group, BENZINGER, Milacron, CITIZEN, CLAUSING, DAEWOO, HARDINGE, HITACHI-Seiki, and MONARCH. Order a copy of Global Lathe Machine Market 2016-2020 research report at http://www.reportsnreports.com/purchase.aspx?name=783672.
Metal additive manufacturing is an upcoming trend in the global lathe machine market. Additive manufacturing is used for creating three-dimensional objects from digital files. The technique can be used to produce complex shapes that may not be feasible with traditional casting and machining methods, or subtractive techniques.
The integration of Internet of Things (IoT) in manufacturing will be one of the major trends that will gain traction in lathe machine market in the coming years. The adoption of IoT improves visibility in the manufacturing process so that the companies can monitor every unit of production at each step in the production process. This increased visibility will help companies manufacture higher-quality, more reliable, and durable products
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