While continuum imaging data at far-infrared to sub-millimeter wavelengths have provided tight constraints on the population properties of dusty star forming galaxies up to high redshifts, future space missions like the Space Infra-Red Telescope for Cosmology and Astrophysics (SPICA) and ground based facilities like the Cerro Chajnantor Atacama Telescope (CCAT) will allow detailed investigations of their physical properties via their mid-/far-infrared line emission. We present updated predictions for the number counts and the redshift distributions of star forming galaxies spectroscopically detectable by these future missions. These predictions exploit a recent upgrade of evolutionary models, that include the effect of strong gravitational lensing, in the light of the most recent Herschel and South Pole Telescope data. Moreover the relations between line and continuum infrared luminosity are re-assessed, considering also differences among source populations, with the support of extensive simulations that take into account dust obscuration. The derived line luminosity functions are found to be highly sensitive to the spread of the line to continuum luminosity ratios. Estimates of the expected numbers of detections per spectral line by SPICA/SAFARI and by CCAT surveys for different integration times per field of view at fixed total observing time are presented. Comparing with the earlier estimates by Spinoglio et al. (2012) we find, in the case of SPICA/SAFARI, differences within a factor of two in most cases, but occasionally much larger. More substantial differences are found for CCAT. ; Comment: 20 pages, 14 figures, accepted for publication in MNRAS