CNC machine tools will become the main force in the cutting market in the future
October 30, 2023
As the world’s largest machine tool consumer in the world, China’s self-sufficiency rate in the high-end CNC cutting machine industry is seriously low, and there is a large gap between the world’s advanced countries in design and R&D, materials technology, and parts and components. While benefiting the country’s industrial policy, the huge demand of the downstream industry has won precious opportunities for the development of China's CNC cutting machine tool industry. “Continuously increasing consumer capacity and infrastructure development driven by regional revitalization planning have determined the Chinese automobile market and engineering. The machinery market will continue to maintain a good growth for a long period of time, which will determine the good prospects for the growth of the CNC machine tool market in China."
According to statistics, since 2010, the growth rate of production and sales of the machine tool industry has been more than 40%. The compound growth rate of the machine tool industry in the next five years is 25% to 30%, and high-end CNC cutting machine tools will become the main force of growth. Explained, "The growth momentum comes from the continuous upgrading of existing products, gaining international market share, and on the other hand, through technological research and product innovation, entering the product areas supported by the country and forming new growth points."
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