China Machine Tools Industry Worth ¥600 Billion by 2017 Says a New Research Report at RnRMarketResearch.com
Dallas, Texas (PRWEB) December 10, 2013 -- Demand in China to grow 9.2% yearly through 2017
Demand for machine tools in China is forecast to increase 9.2 percent per year to ¥600 billion in 2017. Gains will be stimulated by healthy growth in manufacturing production, especially in the industrial machinery and transportation equipment industries. In addition, a continuing shift in the product mix toward higher-value product types such as machining centers, CNC machine tools, and multitasking machine tools will help drive market advances in value terms. Moreover, increasing regulations regarding energy conservation will lead to growth in demand for energy-efficient machine tools.
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Shipments to slightly outpace domestic demand
Machine tool shipments in China are projected to slightly outpace demand through 2017, benefiting from sizable expansions in the domestic market as well as rising demand for Chinese machine tools in a number of export markets as the quality of Chinese machine tools continues to improve. Exports of machine tools will rise at a strong annual through 2017, driven by improved product quality, especially in small CNC machine tools, while prices remain competitive. Government policies to subsidize the research and development of high precision, high speed, and relatively more sophisticated machine tools will also support product sales.
China will continue to see its trade deficit in machine tools expand for the foreseeable future. As imports rise through 2017, foreign suppliers will continue to benefit from growing demand for the precise and sophisticated machine tools needed to manufacture advanced machines. In addition, decreases in tariffs on imported machine tools will also drive sales of imported products through 2017.
Metal forming machine tools to be fastest growing
Metal cutting machine tools will continue to be the largest product segment in 2017, benefiting from their relatively wider range of applications in durable goods production and a comparatively greater variety of metal cutting product types. In addition, growing demand for highlyadvanced and comprehensive metal cutting machines — especially for machining centers and multitasking machines — will further boost product sales. Growth in demand for metal forming equipment is forecast to slightly outpace that of metal cutting machine tools through 2017, benefiting from strong growth anticipated in the motor vehicle, shipbuilding, aerospace, and power transmission and distribution industries.
Gains in key markets to track average industry pace
The industrial machinery and transportation equipment markets have the largest impact on overall machine tool sales, as they accounted for well over half of all demand in 2012. Gains in these two markets are forecast to be near the market average through 2017. Sustained plans to expand durable goods production, facility renovations, and new product innovation in all markets will continue to stimulate growth. Machine tool demand in the electrical and electronics market is also expected to expand near the average rate through 2017, benefiting from strong increases in fixed investment in the home appliance and power generating equipment industries. Machine tool demand in the primary and fabricated metal market will be spurred by continued expenditures in construction projects.
Company Profile
Profiles of 38 firms competing in the Chinese Industry
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Priyank Tiwari, RnR Market Research, http://www.rnrmarketresearch.com/, +1 (888) 391-5441, [email protected]
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