The development trend of China's machine tool accessories market next year

In 2014, the growth rate of China's machine tool attachment market will reach 16.1%, which is faster than metal cutting machine tools and forming machine tools.

The major markets for machine tools in China are industrial machinery and equipment, transportation equipment, primary metal products and electrical and electronic equipment. Among them, as industrial machinery is widely used in various industrial fields, it becomes the largest market for machine tools. Due to the explosive development of the Chinese automobile industry, the manufacturing of transportation equipment has been the second largest market for machine tools in the past 10 years. Metal cutting machine tools are the largest product category, and their size is three times that of metal forming machines.

The machine tool industry consists of metal cutting machine tools, metal forming machine tools, foundry machinery, woodworking machine tools, measuring tools, abrasive tools, machine tool accessories, and machine tool appliances. It is a basic equipment industry that provides working machines for all areas of the national economy. It is a strategic industry that is urgently needed for the modernization of the defense and military industry and is an important symbol of the country’s comprehensive competitiveness. CNC machine tools belong to high-end manufacturing equipment and are an important field for the country to cultivate and develop strategic emerging industries. 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. Selling high-end machine tools can also benefit from tariff policies, which will increase sales of local products.