Pune, India, June 2019/MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on the Global Brake Lathe Machine Market. The Global Brake Lathe Machine Market is Expected to Witness 3.5% CAGR During the Forecast Period, 2019 to 2025.
Brake lathe machines are designed for various automotive applications such as light, medium, and heavy-duty vehicles. These machines are used to repair drums or discs and align and balance wheels. The global brake lathe machine market is estimated to grow with 3.5% CAGR during the forecast period, 2019–2025. The rise in the demand and sales of automobiles, growing adoption of automation system for brake lathe machines, rising concern over safety and efficiency of machine, and growing adoption of vertical lathe machines.
Strict industry regulations, lack of skilled professionals, growing adoption of 3D printing technology, high prices of heavy-duty brake lathe machine, and high maintenance costs of brake lathe machines, are factors that are expected to hamper the market growth market during the forecast period. However, the growing use of loT for monitoring lathe machine conditions, technological advancements in brake lathe machines, growing automatic machine operations, and developing economies of emerging countries are providing ample opportunities for the expansion and growth of the global market.
The leading players operating in the global brake lathe machine market are Multipro Machines Pvt Ltd, Hunter Engineering Company, BendPak Inc., Hennessy Industries, Inc., ACCU−TURN, Atlas Auto Equipment, Sino Star Automotive Equipment Co., Ltd, Pro-Cut International, AUTOPRO-UP Co., Ltd, and Equipment Solutions, a Division of IDSC Holdings Inc.
Drivers: Global Brake Lathe Machine Market
Market Research Analysis
In terms of region, the global market for the brake lathe machine is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia–Pacific is expected to hold the largest share in the brake lathe machine market during the forecast period. This can be attributed to the growth of foreign investments for manurfacturing plants and increase in the automobile service sector, which is expected to increase the demand and sales of brake lathe machines in the region. Moreover, the presence of emerging economies, such as China and India, is also contributing in the market growth. On the other hand, the brake lathe machine market in North America is projected to witness a significant growth during the forecast period. The growing demand for off-road vehicles and developing product service industry in the US and Canada, is expected to support the growth of the market during the forecast period.
The brake lathe machine market in Europe is expected to witness significant growth due to the the presence of a large number of developed nations and their pattern of adopting new technologies. The rest of the world includes the regions, such as South America and the Middle East & Africa. The Middle East & Africa is an emerging market owing to the increased expenditure and expansion of international players. South America is one of the emerging regions that is incorporating technological changes in the brake lathe machine market at a rapid pace. Countries such as Brazil and Argentina are significantly contributing to the growth of the market owing to the government initiatives, which are pushing rapid development of the automotive industry.
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Scope of the Report
This study provides an overview of the global brake lathe machine market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global brake lathe machine market by type, application, vehicle type, and region.