China and India Lead Developing Countries to Promote Global Machine Tool Industry Growth

The world machine tool market is often affected by the recent macroeconomic impact and is directly related to the health status and manufacturing output of relevant downstream industries such as automobiles, information technology, and construction equipment. Confidence in the overall market, capacity expansion, and output are all important factors affecting the machine tool market.

By 2017, the world machine tool market is expected to reach a scale of 166 billion US dollars, and its market growth momentum is expected to come mainly from developing countries and regions such as China, India, Taiwan, Malaysia and Brazil.

The world machine tool market experienced a sharp drop in 2008 and 2009 due to the shrinking industrial output and the collapse of global production and trade. However, in 2010, due to the continuous increase in capital investment, the machine tool market as a key industry saw a significant recovery. The diversity of machine tool applications determines that the market will recover very quickly. Applications include aerospace, automotive manufacturing, electronics, non-electrical machinery and equipment, wind power, mining and processing, and oil exploration.

The European and Asian markets account for the majority of global machine tool sales. China and India are leading the way in promoting the growth of the global machine tool industry. By industry, metal cutting machine tools are the main contributors to machine tool sales revenue. From 2011 to 2016, the annual growth rate of special machine tools is expected to reach 13.7%.