Woodturning Lathe Market size is estimated to be USD 1.5 Billion in 2024 and is expected to reach USD 2.5 Billion by 2033 at a CAGR of 6.5% from 2026 to 2033.
The global woodturning lathe market was valued at approximately USD 680 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2028. This steady growth is driven by increased demand for customized wood products, the rise of woodworking as a hobby, and the expansion of small scale furniture and craft manufacturing. Technological advancements in lathe machinery, including CNC integration and automation, have further supported market expansion by improving precision and efficiency. Additionally, the growing preference for artisanal and sustainable wood goods continues to support demand for woodturning equipment across both developed and developing regions.
Regionally, North America held the largest share of the market in 2022, accounting for over 30% of the global revenue due to a strong base of hobbyists and professional woodworkers. Europe followed closely, with a market share of around 27%, supported by a well established furniture manufacturing industry and growing DIY trends. The Asia Pacific region is anticipated to witness the fastest growth during the forecast period, with a CAGR exceeding 5.5%, driven by increasing industrialization, rising disposable income, and a growing interest in home improvement projects in countries such as China, India, and Japan. Latin America and the Middle East & Africa are also expected to experience moderate growth, supported by expanding construction activities and increased adoption of woodworking tools. Opportunities in the market lie in developing compact, user friendly, and smart lathe machines tailored for home based and small business use, as well as tapping into emerging economies where woodworking industries are gradually gaining traction.
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JPW Industries
Delta Machinery
RIKON Power Tools
Laguna Tools
Teknatool International
WEN
Grizzly
Woodstock International
SCM Group
Robust Tools
Axminster
Carbatec
King Canada
Harvey Industries
Jai Industries
Binzhou COSEN CNC equipment
LingRui CNC
MAS
HOLZMANN MASCHINEN
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Woodturning Lathe Market
Mini Lathes
Midi Lathes
Full-Sized Lathes
Electric Lathe
Manual Lathe
Pneumatic Lathe
Woodworking
Metalworking
Glassworking
Professional Woodworkers
Hobbyists
Industrial Manufacturers
Variable Speed Control
Digital Displays
Integrated Safety Features
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Woodturning Lathe Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Woodturning Lathe Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Woodturning Lathe Market, By Type
6. Global Woodturning Lathe Market, By Application
7. Global Woodturning Lathe Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Woodturning Lathe Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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