According to the statistics from the National Bureau of Statistics of China, total industrial output value exceeded 14 trillion USD (84 trillion RMB) in 2011, an increase of 20% on the previous year. China is the world’s largest machine tool consumer and importer.
The machine tool market is expected to continue to benefit from the fact that machine tool manufacturing companies are the prime equipment providers and sources of supply to all aspects of the vast machinery industry. Robust growth in the power industry, aerospace and aviation industry, ship-building industry, railway locomotive and rolling stock industry, machinery industry and automotive industry, and many other industries has led to sustained high demand for machine tools, especially advanced computer numerically-controlled (CNC) machine tools.
The strong growth has made China a lucrative market for the world's machine tool manufacturers, contributing much to the development of the global machine tool manufacturing industry. In the future, the market increase will be concentrated on tools such as sophisticated CNC lathes. Foreign manufactured leading edge technology CNC lathes will account for a significant percentage of the projected sales growth.
Key end-users of machine tool and tools can be categorized into four major industries: automotive industry, traditional machinery industry, aerospace and aviation industry, and high-tech industries represented by information technology. Key areas of government involvement include in aerospace and aviation, shipbuilding, railway, heavy-duty metallurgical machinery, electricity generation equipment, automobiles, and spare parts and so on.
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China Machine Tool & Tool Builders’ Association
The U.S. Commercial Service offers a broad array of market entry services to U.S. exporters of machine tools and equipment. Please refer to the following relevant contacts for additional information on how we can help you expand your business in China.