2013 China's machine tool consumption reached 38 billion US dollars

With the continuous demand for economic development in China, the consumption of domestic machine tools will continue to grow. The relevant person expects China's machine tool consumption will reach 38 billion US dollars in 2013.

Schaefer, general manager of the German Machine Tool Manufacturers Association (VDW), said in Shanghai recently that China's machine tool export volume has ranked eighth in the world, and Europe has become an important market for Chinese machine tool exports. He predicted that China's machine tool consumption in 2013 will increase by 12% to 38 billion US dollars. At present, the European market accounts for 24% of China's total machine tool exports, and the market size is approximately US$600 million.

Relevant data show that the scale of the international machine tool market has more than doubled in 20 years, reaching about US$86 billion in 2011. Since the turn of the century, the annual consumption of machine tools has increased by an average of nearly 10% (in U.S. dollars). The main driving force for growth came from Asia. In 2011, three-fifths of international machine tool production flowed into the region.

It is expected that the investment in large-scale infrastructure in 2013 will boost China's economic growth, especially investment in high-speed railways, urban rail transit, airports and grid expansion. The process of modernization of China’s industrial infrastructure has accelerated, and the demand for efficient modern manufacturing technologies has increased.

Schaefer pointed out that China's machine tool procurement will continue to rise, and it is expected to increase nearly 12% in 2013 to 38.1 billion US dollars, and almost every user industry is driving this market.

In addition, under the overall economic planning of the state's macro-control, the Chinese market for machine tools will increase by 14.2% to 389 billion yuan in 2014. This strong growth momentum will consolidate China’s current status as the world’s largest machine tool consumer and producer.

The major markets for machine tools in China are industrial machinery and equipment, transportation equipment, primary metal products and electrical and electronic equipment. Among them, as industrial machinery is widely used in various industrial fields, it becomes the largest market for machine tools. Due to the explosive development of the Chinese automobile industry, the manufacturing of transportation equipment has been the second largest market for machine tools in the past 10 years.