China's machine tool industry enters a new development cycle


2023/03/23 09:47

The China Machine Tool Industry Association recently announced in Shanghai that in 2017, the total sales volume of China's metal processing machine tool market reached 29.9 billion US dollars, an increase of 7.5% over the previous year.
Mao Yufeng, Executive Vice President of the China Machine Tool Industry Association, believes that machine tools are one of the core industries in the equipment manufacturing industry and play an important leverage role in the allocation of resources in the global manufacturing industry. In 2017, China's machine tool sales experienced a significant recovery growth, indicating that driven by structural upgrading, China's machine tool industry is entering a new development cycle of moderate growth, creating new development opportunities for domestic and foreign machine tool manufacturing enterprises.  
According to the statistics of China Machine Tool Industry Association, in 2017, China achieved exports of metal processing machine tools of 3.29 billion US dollars and imports of 8.74 billion US dollars, with year-on-year growth of 11.4% and 16.3% respectively; The trade deficit reached $5.45 billion, a significant increase of 33.5% year-on-year. This indicates that the pace of structural upgrading in China's relevant manufacturing industries has accelerated, and the demand for advanced foreign machine tools has grown strongly.
In the field of tools and measuring tools, in 2017, the total sales volume in the Chinese market reached 4.82 billion US dollars, an increase of 20.2% compared to the previous year. From the perspective of import and export, China's tool and measuring tool exports totaled 2.79 billion US dollars, while imports totaled 1.81 billion US dollars, with year-on-year growth of 8.1% and 21.5%, respectively, up 8.9 and 22.1 percentage points compared to 2016. The characteristics of restorative growth are more evident, especially the significant increase in imports of high-end measuring tools and tools.
Wang Liming, Secretary General of China Machine Tool Industry Association, believes that with the deepening of the new round of industrial revolution led by information interconnection worldwide, the manufacturing industry is undergoing an evolution from automation and digital manufacturing to collaborative and intelligent manufacturing, and the global machine tool industry is facing profound changes in all aspects. Today, the machine tool industry is conducting research in key directions such as digitization, automation, Internet of Things, and information big data to promote and achieve intelligent manufacturing.
From April 9th to 13th this year, China Machine Tool Industry Association will host the 10th China CNC Machine Tool Exhibition in Shanghai. The exhibition covers a total exhibition area of 120000 square meters. Up to now, more than 1200 manufacturers in the machine tool industry from 23 countries and regions have signed up for the exhibition, including more than 500 overseas exhibitors, accounting for 40% of the total area, an increase of nearly 5 percentage points compared to the previous exhibition, indicating that overseas enterprises have further increased their attention and participation in the Chinese market.