Technological development is the key to the development of machine tool industry

With the deepening effects of the global economic crisis gradually expanding, global manufacturing growth in the third quarter of 2012 was only 2.2%, and the economy will continue to weaken in 2013.

The relevant UN report pointed out that the new round of economic recession in Europe and North America has dragged the global manufacturing recovery. In the third quarter of 2012, global manufacturing increased by 2.2% year-on-year, and its growth rate was the lowest since 2009. In particular, the continued economic recession in Europe and the slowdown in economic growth in developing countries, the economically developed countries as a whole have experienced the first decline in industrial output since 2009; Germany’s decline was 1.7%, Italy’s 6.2%, and France’s 1.9%, the United Kingdom was 0.9%, Japan's manufacturing output fell 4.6%.

While the manufacturing growth of all major economies in the world has slowed or declined, the development of related industries still maintains a relatively high growth rate. According to relevant data, the size of the international machine tool market has more than doubled in 20 years, reaching around US$86 billion in 2011. Since the turn of the century, the annual consumption of machine tools has increased by an average of nearly 10% (in U.S. dollars).

The growth of the machine tool industry is undoubtedly affected by factors such as the automation of the industrial manufacturing industry and high quality and high transformation factors. Especially in the Asian region, three-fifths of the international machine tool production in 2011 has flowed into the region. It can be said that the main driving force for growth comes from Asia.