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Chinese machine tool demand 'set to increase'

Story added 05 November 2008.

The machine tools market in China is set to increase 13 per cent annually through to 2012, according to research.

As a result of this, machine tool dealers could see more deals with machining centres in China.

Reportlinker.com states that Chinese demand for machine tools is supported by rapid growth in durable goods production and electrical goods.

A rise in demand for higher-value CNC machining tools will also boost the overall market, it explains.

Metalhyphencutting machine tools will be the fastest-growing product category, the report predicts, benefiting from improving CNC machining technology.

Furthermore, imports of machine tools are expected to rise 12.2 per cent annually and account for nearly 30 per cent of total product demand in 2012.

Exports are also predicted to climb, driven by improved production standards in areas such as CNC machining tools.

The machine tools industry is growing in a number of Gulf states, MidTech Engineering Solutions stated this week.

General manager G K Menon said there are huge opportunities for manufacturing facilities.

See all the Machine Tool Manufacturers' CNC Machines. ADNFCR-1982-ID-18860596-ADNFCR