Date: 2013-07-31

Demand for Machine Tools in China to Increase 13% Annually Through 2012

A market research report released recently says Chinese demand for machine tools is projected to see annual gains of 13% thought 2012 to 606 billion yuan.

The report published by Reportlinker.com, presenting historical demand data of previous years, plus forecasts for 2012 and 2017 by product, market, and region of China, states the forecast of 13% growth of demand is supported by rapid growth in durable goods production, especially for industrial machinery, transportation equipment, primary and fabricated metals, and electrical and electronic goods.

In addition, the expansion and modernization of China's infrastructure will result in gains in demand of ceramic, glass, stone and wood products, which will stimulate demand of machine tools.


The report also says higher-value computerized numerical control machine (CNC) tools will be more important to the Chinese market as a rise in demand of such products will be more significant and will boost overall market value in the country.

Among all product categories, metal cutting machine tools will be the fastest growing one through 2012. According to the findings, strong growth of investment by manufacturers and the improving CNC technology which is mostly employed in metal cutting machine tools such as machining centers, are the main reasons supporting the forecast.

Driven by fast growth in metal cutting, metal forming and nonmetal machine tool production in China, sales of machine tool accessories will also climb at an above-average rate, and sales of metal forming machine tools and demand for nonmetal machine tools are projected to grow at a good rate too.

Manufacturing of industry machinery in China is expected to remain the largest source for machine tool demand. The fastest growth by far is expected in the electrical and electronic segment, which in many cases requires high-precision, high-end tools to meet the stringent tolerances involved in electronic product manufacturing.

Transportation will maintain the second largest machine tool market for the foreseeable future, supported by the fast growing automotive industry in China.

As a result of strong domestics industrial manufacturers'demand for CNC machine tools as well as continuous foreign manufacturers'demand for imported machine tools, China's imports of machine tools are expected to rise 12.2% annually, accounting for almost 30% of total product demand in 2012.

On the other hand, exports are projected to climb at a faster pace driven by improved production standards, especially in CNC machine tools and by increasing machine tool demand in other developing countries such as India and some Southeast Asian countries.

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