Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, analyzes machine tool industry climate.
Himfr.com reports that because of the financial crisis, the machine tool industry has entered a cold spell. However, through constant innovation, the industry continued to adjust, and in the third quarter the machine tool industry began to rebound.
Computer Numerical Control tools and lathes are very important in machine tool industry, accounting for over 50 percent of the market, and with machining centers and milling machines also developing rapidly. It can be seen that as the automotive, parts and aerospace industries improve, so will the machine tool industry, as a result of increased demand for machine tools.
Machine tool products include CNC machine tools, lathes, metal cutting machine tools, machining centers, milling machines, drill presses, punching machines, woodworking machine tools, etc. The machine tool industry mainly serves the automotive, spare parts, mechanical engineering, aviation and aerospace industries. With the improved automotive industry climate, the machine tool industry has also shown improvement; after all, the automotive industry accounts for more than 30 percent of the market share.
In the third quarter of 2009, the machine tool industry showed an upward trend, although exports are still difficult, and growth is still slow. This is a good sign that the industry has bottomed out and picked up after the crisis. This is attributable to the national policy on downstream industries and the expansion of Chinese demand and market stimulation, showing good results in the third quarter. Himfr.com predicts that 2009 growth rate of China's machine tool industry will be much higher than expected, and that the annual output value of machine tools will reach 9 billion U.S. dollars (machine tool consumption is currently about 1.4 billion U.S. dollars).
The development of CNC machine tools remains the same as industry development as a whole; in the first half of 2009 it has shown a modest upward trend, which is even more evident in the Chinese market. As the automotive and aviation industries continue to improve, demand for large machine tools and CNC machine tools will also develop. Himfr predicts that the future development trend of CNC machine tools will be prosperous.