Schafer, general manager of the German Machine Tool Manufacturers Association (VDW), said in Shanghai that China's machine tool exports have 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 about 600 million US dollars.
Relevant information shows that the scale of the international machine tool market has more than doubled in 20 years, reaching about 86 billion US dollars in 2011. Since the turn of the century, machine tool consumption has increased by an average of nearly 10% per year (in US dollars). The main driver of growth came from Asia, where three-fifths of international machine tool production in 2011 went into the region.
It is expected that investment in large-scale infrastructure in 2013 will boost China's economic growth, especially for high-speed railways, urban rail transit, airports and power grid expansion. China's industrial infrastructure modernization process is accelerating, and the demand for efficient modern manufacturing technology is increasing.
Schaefer pointed out that China's machine tool purchases will continue to rise, and is expected to increase by nearly 12% in 2013 to reach $38.1 billion, which is driven by almost every user industry.
In addition, under the overall economic planning of the national macro-control, the Chinese market will increase 14.2% to 389 billion yuan in the machine tool market in 2014. This strong growth momentum will consolidate China's current status as the world's largest machine tool consumer and producer.
Machine tools in China's main markets are industrial machinery and equipment, transportation equipment, primary metal products and electrical and electronic equipment. Among them, industrial machinery has become the largest market for machine tools because it is widely used in various industrial fields. Due to the explosive development of China's auto industry, transportation equipment manufacturing has been the second largest market for machine tools in the past 10 years.
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