Machine Tools Market in China 2015-2019
About machine tools
Machine tools are used to cut and shape metals and nonmetallic materials based on the specifications of a product. They enable manufacturing of critical components with utmost ease and accuracy. These tools include metal cutting machine tools, metal forming machine tools, and machine tools accessories. Companies extensively use them across sectors such as automotive, general machinery, precision engineering, transport, aerospace, and dies and molds.
Technavio's analysts forecast the machine tools market in China to grow at a CAGR of 6.50% during 2014-2019.
Covered in this report
The machine tools market in China can be segmented into four end-user segments: automotive sector, general machinery sector, precision engineering sector, and transport machinery sector.
Technavio's report, Machine Tools Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Machine Tools Market in China 2015-2019
Technavio recognizes the following companies as the key players in the Machine Tools Market in China: Dalian Machine Tool Group (DMTG), DMG Mori Seiki Aktiengesellschaft, Shenyang Machine Tools (SMTCL).
Other Prominent Vendors in the market are: Byjc-okuma (Beijing), FANUC, Shaanxi Qinchuan Machinery Development
Commenting on the report, an analyst from Technavio’s team said: “An increased investment in transport infrastructure by the government of China will positively impact the machine tools market. To facilitate smooth transit of goods and services, the government has planned to improve the connectivity between various cities in the central and western regions of China.”
According to the report, there has been a surge in the production of supersonic training jets, military helicopters, and unmanned aerial vehicles. In addition, an increased air traffic has created the need to expand the aircraft fleet in the country. Besides, China is planning to replace the aging foreign-made aircraft with indigenously manufactured aircraft.
Further, the report states that the slowdown of the Chinese economy during 2010-2014 hindered the growth of the machine tools market. The reduced manufacturing output due to decreased investment and shutdown of the excess production capacity had cut down the requirement for machine tools. The subsequent slowdown in the real estate industry had been the biggest blow to the market.
Dalian Machine Tool Group (DMTG), DMG Mori Seiki Aktiengesellschaft, Shenyang Machine Tools (SMTCL), Byjc-okuma (Beijing), FANUC, Shaanxi Qinchuan Machinery Development
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