Abstract Recently, the international industry analysis company GIA released a report that the expansion of the manufacturing base in developing countries will drive demand for machine tools. It is expected that the global machine tool market will reach US$154 billion in 2018. It is reported that the developed economies that have fallen into the debt crisis are
Recently, the international industry analysis company GIA released a report that the expansion of the manufacturing base in developing countries will drive demand for machine tools. It is expected that the global machine tool market will reach US$154 billion in 2018. It is reported that developed economies that have fallen into a debt crisis are increasing investment in local manufacturing and stimulating economic recovery, which has boosted demand for machine tools. The recovery of the US manufacturing industry has brought great market opportunities for machine tools. Shale gas reform, clean energy and fuel availability will reduce manufacturing costs, prompt industrial enterprises to return, and re-industrialize after more than a decade of consumption-led growth.
Developed countries will usher in a wave of demand replacement. The aging production infrastructure and machine tool base will require large-scale modernization and upgrading. The machine tool industry will face greater development opportunities in the next few years.
Market growth comes from technology development and product innovation. As manufacturing shifts to lower operating costs, shorter manufacturing times, increased productivity and competitiveness, the demand for next-generation high-efficiency machine tools has increased dramatically. The 3D printer event marks the emergence of a new generation of machine tools. It is expected that the demand for 3D printers in developed countries is very high. The rapid development of 3D printing foundations in these countries has promoted the growth of domestic manufacturing industry and obtained certain government support.
The report provides a comprehensive analysis of the machine tool market in the United States, Canada, Japan, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The analysis points out that Asia Pacific is the fastest growing market in the world. The growth of the region is mainly due to healthy economic growth and foundation. Facility construction, especially China, Taiwan, Korea, Thailand, Malaysia and India, is the fastest growing. With the rapid development of the industrial sector, China's demand for new machine tools is very large.
Among the machine tool companies that reported on the analysis, Dalian Machine Tool Group, Shanghai Machine Tool Works Co., Ltd. and Shenyang Machine Tool Co., Ltd. were involved in China.
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