Under the overall economic planning of the country’s macro-control, the Chinese machine tool market will grow by 14.2% to 389 billion yuan in 2013. This strong growth momentum will consolidate China’s current status as the world’s largest consumer and producer of machine tools.
Both industry supply and demand will benefit from the government’s 12th Five-Year Plan. The “Twelfth Five-Year Plan” specifically regards the machine tool industry as one of the strategic emerging industries, which will receive government support and promote independent innovation.
High-end equipment manufacturing is listed as a strategic emerging industry and will focus on cultivation and development in the future. Luo Baihui, chief analyst of Jinmo Machine Tool Network, said that advanced machine tool manufacturing is an important part of high-end equipment manufacturing, so the industry can obtain subsidies from the central and local governments for research and development. Sales of high-end products can often benefit from tariff policies, thereby increasing sales of local products.
The main markets of machine tools in China are industrial machinery and equipment, transportation equipment, primary metal products and electrical and electronic equipment. Among them, because industrial machinery is widely used in various industrial fields, it has become the largest market for machine tools. Due to the explosive development of China’s automobile industry, transportation equipment manufacturing has been the second largest market for machine tools in the past 10 years.
Metal cutting china cnc machine tools are the largest product category, with a scale three times that of metal forming machine tools. In 2013, the demand growth rate of China’s machine tool accessory market will reach 16.1%, faster than metal cutting machine tools and forming machine tools.