Brake Lathe Machine Market Research Report: Information by Type (On-Car Brake Lathe Machine and Off-Car Brake Lathe Machine), by Application (Light-Duty, Medium-Duty and Heavy-Duty), by Vehicle Type (Passenger Car and Commercial Vehicle) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030
ID: MRFR/IA - E/6496-HCR | February 2021 | Region: Global | 100 pages
Brake Lathe Machine Market Synopsis:
Brake lathe machine market is estimated to witness 3.5% CAGR during the forecast period, 2019–2025.
The massive increase in the demand for modern vehicles such as autonomous vehicles, connected vehicles, and electric vehicles are expected to create opportunities in the global market owing to the increase in demand for vehicles. This is expected to influence the demand for brake machines, including brake lathe machine. Hunter Engineering Company, Hennessy Industries, Inc., Atlas Auto Equipment, and Pro-Cut International are the major brake lathe machine manufacturers, which primarily focus on product development and strategic partnerships with automotive component manufactures in the Europe and Asia-Pacific. These developments are expected to create lucrative opportunities in the market and further influence the investment opportunities for the manufacturers, during the forecast period. However, the high prices of heavy-duty brake lathe machines are expected to hamper the growth of the global brake lathe machine market during the forecast period.
Prominent Players
The Prominent Players in the global brake lathe machine market are Multipro Machines Pvt Ltd (India), Hunter Engineering Company (US), BendPak Inc. (US), Hennessy Industries, Inc. (US), ACCU−TURN (US), Atlas Auto Equipment (US), Sino Star Automotive Equipment Co., Ltd (China), Pro-Cut International (US), AUTOPRO-UP Co., Ltd (South Korea), and Equipment Solutions, a Division of IDSC Holdings Inc.
Segmentation: Global Brake Lathe Machine Market
The global brake lathe machine market is segmented based on type, application, vehicle type, and region. On the basis of type, the global market has been segmented into on-car brake lathe machine and off-car brake lathe machine. The on-car brake lathe machine type segment is expected to dominate the global market in terms of value and volume during the forecast period. On the basis of application, the global market has been segmented into light duty, medium duty, and heavy duty. The medium duty segment is expected to dominate the global market in terms of both, value and volume during the forecast period. On the basis of vehicle type, the global market has been segmented into passenger car and commercial vehicle. The passenger car segment is expected to dominate the global market in terms of value during the forecast period, owing to increase in demand for passenger vehicles and strict government standards for brake production.
Geographically, the global brake lathe machine market has been segmented into four regions, namely, North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to hold a significant market share during the forecast period owing to the presence of automotive and electric and electronics industry. This expected to further increase the market share of lathe machines in the region. Furthermore, in Asia-Pacific, India is projected to grow at the highest rate due to the growing government initiatives to promote India as the worlds most preferred hub for manufacturing by 2025. On the other hand, Europe is expected to witness substantial growth owing to stringent government standards for vehicle safety.
A brake lathe machine, also known as a drum brake lathe machine and disc brake lathe machine, is a kind of lathe machine used in industrial applications. Brake lathe machines are used for reducing brake pedal movement. They are quick, strong, and precise machines that are equipped with infinitely adjustable feed rates, which enhance the overall power to deliver a perfect lathe.
The rise in the demand and sales of vehicles, around the globe, are the main factors responsible for the growth of the global brake lathe machine. The increase in the production of vehicles such as international combustion (IC) vehicles and electric vehicles, increases the pressure on the manufacturers to meet the required safety standard. Thus, this expected to increase the production of vehicle brakes and increase the demand for precision in the brake design are further expected to influence the demand for brake lathe machines, globally.
The report for global brake lathe machine market by Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Intended Audience:
- Brake lathe machine manufacturers
- Brake component manufacturers
- Automotive component manufacturers
- Manufacturers and distributors of raw materials
- State and national regulatory authorities
- Government and industry associations
- State or government owned corporations
- Research organizations
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: Significant Value |
| CAGR | 3.5% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Vehicle Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Multipro Machines Pvt Ltd (India), Hunter Engineering Company (US), BendPak Inc. (US), Hennessy Industries, Inc. (US), ACCU−TURN (US), Atlas Auto Equipment (US), Sino Star Automotive Equipment Co., Ltd (China), Pro-Cut International (US), AUTOPRO-UP Co., Ltd (South Korea), and Equipment Solutions, a Division of IDSC Holdings Inc |
| Key Market Opportunities | New product launches and R&D amongst major key players |
| Key Market Drivers |
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Frequently Asked Questions (FAQ) :
The Prominent Players in the global brake lathe machine market are Multipro Machines Pvt Ltd (India), Hunter Engineering Company (US), BendPak Inc. (US), Hennessy Industries, Inc. (US), ACCU−TURN (US), Atlas Auto Equipment (US), Sino Star Automotive Equipment Co., Ltd (China), Pro-Cut International (US), AUTOPRO-UP Co., Ltd (South Korea), and Equipment Solutions, a Division of IDSC Holdings Inc.
Asia-Pacific is expected to hold a significant market share during the forecast period owing to the presence of automotive and electric and electronics industry.
The vehicle types in the market are passenger car and commercial vehicle. The passenger car segment is expected to dominate the global market in terms of value during the appraisal timeline, owing to an increase in demand for passenger vehicles and strict government standards for brake production.
the global brake lathe machine market is estimated to witness 3.5% CAGR during the forecast period, 2019–2025.
The rise in the demand and sales of vehicles, around the globe, are the main factors responsible for the growth of the global brake lathe machine. The increase in the production of vehicles such as international combustion (IC) vehicles and electric vehicles, increases the pressure on the manufacturers to meet the required safety standard. Thus, this expected to increase the production of vehicle brakes and increase the demand for precision in the brake design are further expected to influence the demand for brake lathe machines, globally.