India Lathe Machines Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Indian Lathe Machines Market report is Segmented by End-user Industry (Automotive, Aerospace and Defense, General Manufacturing, and Metal Industry). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

India Lathe Machines Market Size

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India Lathe Machines Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 13.43 %
Market Concentration Medium

Major Players

India Lathe Machines Market Major Players

*Disclaimer: Major Players sorted in no particular order


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India Lathe Machines Market Analysis

The Indian lathe machines market was valued at USD 16.97 million the previous year. It is expected to reach USD 37.81 million over the forecast period, registering a CAGR of 13.43%.

The growing demand for advanced technology-enabled lathe machines in the manufacturing industry drives market growth.

  • The need for electric vehicles and consumer electronics has skyrocketed in recent years, which created demand for advanced machine tools across the industry. As the world's manufacturing industry continues to grow, so does the need for machine tools such as the Swiss Type Automatic Lathe Machine to manufacture finished products. As manufacturing processes become more advanced, the need for high-end machine tools with greater accuracy and precision increases.
  • Swiss-type lathes are typically more flexible, productive, and accurate than traditional lathes. The first use of Swiss-type machines was in the production of watch parts. Today, Swiss-type machines are used by companies in defense, medical devices, aerospace, electronics, and other industries. Swiss-type automatic lathes produce hydraulic valve parts, medical implants, miniature electronic connectors, watch parts, shafts, musical instrument posts, and more.
  • The machine tools industry has been significantly impacted by the emergence of new technologies, including automation, AI, and robotics. These new technologies have improved productivity, increased precision, and decreased labor costs, making machine tools more widely used in many end-user industries. For instance, India stands out as a nation committed to embracing robotic solutions. According to the International Federation of Robotics (IFR), the sales of industrial robots in India achieved an unprecedented milestone in 2021, with a staggering installation of 4,945 units. This represents a remarkable 54% growth compared to 2020, which witnessed the installation of 3,215 units. Such factors are driving opportunities for key vendors in the region.
  • A significantly high initial investment is required to deploy automatic lathe machines in manufacturing facilities as required by different industries such as automotive, consumer electronics, healthcare, IT and telecommunication, and aerospace and defense. This is restricting the growth of the lathe machine market.
  • India recovered from the effects of the COVID-19 pandemic in the first half of FY22 and is on track to return to the growth trajectory it had before the pandemic. As per the Economic Survey, India's nominal GDP was estimated at USD 3.5 trillion as of March 2023.

India Lathe Machines Market Trends

Technological Advancements in the Manufacturing Industry are Expected to Drive the Market

  • The Indian manufacturing industry has contributed to the country's economic growth, providing employment and GDP growth. However, to stay ahead of the competition in the Swiss-type automatic lathe machine market, Indian manufacturers must adopt modern technology and processes.
  • The Industry 4.0 era is revolutionizing the day-to-day operations of CNC machine shops. With all the available intelligent technologies and embedded software, faster turnarounds and reduced downtimes increase efficiency. Further, CNC machines boost manufacturing by reducing operating costs, improving efficiency, and reducing component errors. Industry 4.0 is at a turning point in Indian manufacturing.
  • Digital transformation in manufacturing has been accelerating in emerging markets such as India. In the post-pandemic era, the manufacturing industry worldwide, particularly in India, has adopted a new generation of technology based on automation and software.
  • IoT, AI, and Blockchain have significantly increased manufacturing and industrial development productivity. Several cutting-edge technologies support end-to-end automation, analytics, and real-time decision-making and have transformed manual manufacturing units into intelligent factories.
  • The government plays a vital role in implementing IoT in the country. IoT immensely benefits the Make in India campaign by introducing innovative ways to sustain manufacturing organizations' sustainable development. The Internet of Things (IoT) enables CNC lathe machine operators and machine handlers to interact with their machines via smartphones or tablet devices. With IoT-based CNC machine tracking, CNC operators can monitor the status of their machines remotely at any time.
  • With the help of IoT systems and the real-time alert function, factories can reduce machine downtime and improve overall equipment efficiency. Machine-to-machine alerts can prevent the accidental failures of tools or any part of a CNC machine. Besides reducing workshop injuries, IoT technology reduces material waste and increases CNC machine productivity, resulting in more accurate parts being manufactured in less time.
India Lathe Machines Market: Proposed Investment Value in the Industrial Machinery Sector, in INR Billion, India, 2015-2022

Automotive Industry to be the Fastest Growing End User

  • Major technological advancements in electric vehicles and increased connectivity fuel auto industry sales in India. In addition, new emissions standards were implemented by the Government of India in 2016, the first country to implement BS-VI emissions standards. India skipped BS-V entirely and started with a higher level of standards. In just four years, India faced a challenge and turned it into an opportunity by making its fuel and vehicles compliant with BS-VI. When combined with the scrappage scheme, BS-VI standards could improve air quality and the health of the people of India.
  • According to the Society of Indian Automobile Manufacturers (SIAM), India has one of the highest vehicle production in the world. In FY22, the total vehicle production in India stood at 22.93 million units, registering a year-on-year (YoY) growth of 1%. In India, two-wheelers are the most popular type of vehicle manufactured and account for the majority of vehicles sold on the domestic market.
  • The Indian automotive components sector witnessed a record turnover of USD 69.7 billion in 2022-23, driven by increased demand for high-value-added components for the domestic automotive market. The sales of automotive parts suppliers to OEMs increased by 33% in FY 23. India is emerging as a global hub for automotive component sourcing.
  • The country has a competitive advantage in auto components such as shafts, bearings, and fasteners due to the presence of several manufacturers. According to IBEF, India's auto component exports are projected to grow and reach USD 30 billion in FY 2026. This factor is expected to create significant demand for Swiss automatic lathe machines in India.
  • Automotive shafts and axles are gaining traction as they serve as the backbone of the powertrain systems. The demand is accelerated due to the growing customer demand for hybrid and electric vehicles and the integration of advanced technologies in automobiles. Similarly, the rise in implementation of emissions rules such as Bharat Stage VI and an increase in preference for engine downsizing and vehicle weight reduction is anticipated to positively impact fuel injector growth, which supports the growth of the market studied.
  • The rise in adoption of ECASS (Electronically Controlled Active Suspension System) due to its fewer moving parts and shorter reaction time creates demand for suspension components, which is expected to increase the demand for advanced Swiss automatic lathe machines.
India Lathe Machines Market: Production Volume of Vehicles Across India, In Millions, By Segment, FY2013-FY2023

India Lathe Machines Industry Overview

The Indian lathe machines market is moderately fragmented, with the presence of major players like Tsugami Corporation, Mazak Corporation, Star Micronics Co. Ltd, DN Solutions, and Laxmi Metal & Machines. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

  • September 2023: Star Micronics announced the development of SP-20/23, a CNC Swiss-type automatic lathe capable of supporting parts machining in various industries, including automobiles, hydraulic/pneumatic equipment, and general machinery. This product is expected to be launched by the end of this year.
  • March 2023: The Yamazaki Mazak Corporation announced the building of a manufacturing plant (name: Yamazaki Mazak Machine Tools Private Limited) in Pune, Maharashtra, India, in 2023. This new manufacturing setup will start producing a new vertical machining center developed and designed in Japan for the Indian domestic market. Therefore, with this new plant, the company will have 11 production bases, five in Japan and six overseas.

India Lathe Machines Market Leaders

  1. Tsugami Corporation

  2. Mazak Corporation

  3. Star Micronics Co. Ltd

  4. DN Solutions

  5. Laxmi Metal & Machines

*Disclaimer: Major Players sorted in no particular order

India Lathe Machines Market Concentration
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India Lathe Machines Market News

  • October 2023: The Indian Oil Corporation announced an investment of over INR 2,600 crore (USD 0.3126 billion) to set up greenfield units and further expand its facilities across Northeast India in the coming years. Such investments by governments and private companies are expected to create vast demand for fasteners, nozzles, pins, and washers in the petrochemical industry, which is expected to fuel market growth.
  • December 2022: The Tata Group announced a five-year plan to invest USD 90 billion in the semiconductor sector. It plans to enter advanced chip manufacturing and fabs in the coming years.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

      1. 4.1.1 Analyst's Commentary

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyer

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Impact of COVID-19 on the Market


    1. 5.1 Market Drivers

      1. 5.1.1 Technological Advancements in the Manufacturing Industry

      2. 5.1.2 Growing Smart Factories in India

    2. 5.2 Market Challenges

      1. 5.2.1 High Initial Investments


    1. 6.1 Automotive Industry Analysis

    2. 6.2 EV Penetration and Demand Analysis

    3. 6.3 5G Industry Analysis

    4. 6.4 Medical Device Industry

    5. 6.5 Semiconductor Industry Analysis




    1. 9.1 By End-user Industry

      1. 9.1.1 Automotive

      2. 9.1.2 Aerospace and Defense

      3. 9.1.3 General Manufacturing

      4. 9.1.4 Metal Industry

      5. 9.1.5 Other End-user Industries


    1. 10.1 Vendor Ranking Analysis

      1. 10.1.1 Swiss-type Automatic Lathe Machine Vendor Ranking - 2022

      2. 10.1.2 Swiss-type Automatic Lathe Machine Vendor Ranking - 2021

      3. 10.1.3 Swiss-type Automatic Lathe Machine Vendor Ranking - 2020

    2. 10.2 Company Profiles

      1. 10.2.1 Tsugami Corporation

      2. 10.2.2 Mazak Corporation

      3. 10.2.3 Star Micronics Co. Ltd

      4. 10.2.4 DN Solutions

      5. 10.2.5 Laxmi Metal & Machines

      6. 10.2.6 Arrow Machine Tools

      7. 10.2.7 Tornos Group

      8. 10.2.8 Citizen Machinery Co. Ltd

      9. 10.2.9 Galaxy-Tajmac

    3. *List Not Exhaustive


**Subject to Availability
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India Lathe Machines Industry Segmentation

A Swiss automatic lathe is a machine that removes unwanted material from a rotating piece of cloth in chips using a device that moves across the workpiece and can be fed deep into the workpiece. These machines shape smaller parts and components for various end-user industries such as automotive, metal, aerospace, defense, and medical. It can also be used for drilling or screw machining.

The scope of the study includes the revenues accrued from the sales of Swiss-type automatic lathe machines available in the market. The Indian lathe machines market is segmented by end-user industry (automotive, aerospace and defense, general manufacturing, and metal industry). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By End-user Industry
Aerospace and Defense
General Manufacturing
Metal Industry
Other End-user Industries
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Frequently Asked Questions

The India Lathe Machines Market is projected to register a CAGR of 13.43% during the forecast period (2024-2029)

Tsugami Corporation , Mazak Corporation , Star Micronics Co. Ltd , DN Solutions and Laxmi Metal & Machines are the major companies operating in the India Lathe Machines Market.

The report covers the India Lathe Machines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Lathe Machines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

India Lathe Machines Industry Report

Statistics for the 2024 India Lathe Machines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Lathe Machines analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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India Lathe Machines Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)